Ms 61

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MS-61 CONSUMER BEHAVIOR
1. Assume that you are the marketing manager of the online banking division of the
country’s leading bank. How would you utilize your understanding of consumer
behavior to effectively segment your markets and identify appropriate segments for
promoting online banking? Also describe the promotional strategies you will develop
for the segments identified by you.
Banking has become a very usual and a common phenomenon that we have forgotten that
folk’s once stored money in our very house. Nowadays, it is an unwritten law almost for
everyone to have a bank account. Technologies now enter even the naïve people's life. Online
banking is one such example and this facility is provided by many banks and you don't need
to waste time to go in to the bank and do any kind of transactions over there
Marketing manager of Bank can discovered an effective way to introduce customers to the
benefits of Internet banking.
Eg: the bank purchased 10 Internet kiosks, one for the lobby of each of the institution's nine
branches plus the operations center. The total cost was less than $60,000. Customers use the
kiosks to view a demonstration as to how Internet banking works. Once the customers know
how to operate the program, they can use the kiosks to perform all of the same online banking
functions that they could do from their home computers: apply for an account, transfer funds,
pay bills and so forth. (The kiosks, unlike an ATM, will not dispense cash.)
Banks using Internet kiosks say that the cost of acquiring a new customer is only $369--far
less than the average bank acquisition cost of $3,500, as reported by ABA.
"Kiosks are really becoming a very common sight on our American business landscape
today," Kohut says. "For that reason, it's easy for someone's eyes to glaze over when you
mention them, but we've found that kiosks are an easy, timesaving way to educate our
customers." Also, kiosks have few technical limitations, he adds. The graphics capabilities
are vast A great number of improvements in kiosks have happened over the past few years.
"Today, anyone who purchases a kiosk has a better-than-even chance that it will be
successful. If a program fails it's often because it wasn't used properly. A key mistake is often
made when a kiosk is purchased is that it's relegated to a dusty corner. That's like buying a
Jaguar or Cadillac, then keeping it in your garage 24/7. Instead, give it visible placement,
your customers will notice, become curious and want to use it."
The future of Internet kiosks looks bright. "Many of the things we are able to do today were
impossible two years ago. As for what may happen two years from now, we're only as limited
as the technology and that's advancing every day."
So far, customers will love it, and our employees like using it to show the advantages of our
online products. Who knows where it will take us in the future.
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Banks offering online services need to polish their pitch for customers, according to a new
study.
Most people don't even know their banks offer Net services, banks need to get out a bigger
and clearer message of how people can use the services to do much more than check
balances, transfer funds, and pay bills electronic banking also offers a "better way" to manage
budgets and balance checkbooks, and serve as a valuable online extension to personal finance
and accounting software that many computer-savvy consumers already use.
Yet the issue of promoting online sites is a sensitive one for many bank executives, who are
faced with the delicate balancing act of promoting online services without alienating Net-
phobic customers.
"The greatest challenge is to market this service to a group of folks without alienating
our traditional customers online banking a few years ago and has seen it grow into a thriving
business without moving existing customers unwillingly onto the Net.
Bank has been careful not to augment fears that online banking will eventually lead banks to
close the doors of existing branches, inside any of its brick-and-mortar branches. Instead, the
bank has relied on ads in national computer publications, bringing business into the bank it
would otherwise not have attracted. Eight of every ten online customers are out-of-starters,
and some are Americans living in foreign countries, he added.
"We saw an opportunity to capture some people's business by addressing their lifestyle," said
Fitzgerald. His bank's virtual branch is one of nine bank branches. It has grown to have more
customers than some of the company's office branches yet attending to them requires a much
smaller staff--two full-time employees--and considerably lower costs.
However, the time may have come to introduce a more mainstream public to Internet
banking. "There is huge but largely untapped potential here, online banking "hasn't been
going anywhere. There are not enough users and not enough value" offered online to
convince consumers to change their routines.
Yet all that may soon change once new software supporting Open Financial Exchange (OFX)
specifications come to market this fall. OFX is a proposal by the three big consumer banking
software providers--Microsoft, Check Free, and Intuit--to provide a common pathway for
customer client software to access account information stored on bank databases.
Morrow said once the OFX spec is set, independent software developers will begin rolling
out software that will expand the kinds of transactions consumers can conduct at the virtual
banks. For instance, consumers can now pay bills online, but soon they will also have the
option of receiving bills online, streamlining the payment process, and reducing the need to
keep records both on paper and online, Morrow said.
Salem Five is among the banks that are passing on the savings to customers by not charging a
monthly fee to online customers. But some banks charge as much as $15 per month. The
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average is between $3 and $4 a month, compared with many traditional accounts that have no
monthly fees at all, analysts said banking industry insiders, who maintain that consumers
have been reluctant to pay for services that they can walk into a bank and obtain for free.
Many observers said the existence of fees along with poor marketing are holding down the
number of online customers. Banks also may be targeting the wrong people, FIND's survey
suggests. Banks should target women, who often handle household finances yet are less
aware of the online options than men, according to the survey.
Online market segmentation
The fact is that people like to do business in different ways. There will always be a segment
of the population that prefers to walk into a store and make a purchase rather than shop
online. However, buying products and services online is taking off. No longer is it just a
curiosity, but shopping online is becoming mainstream. As consumers spend more time
online, wise marketers are spending more of their advertising budget online. They
understand and know who their audience is. Three distinct market groups are emerging:
buyers, consumers and surfers. Here's an overview of these groups:
Buyers
Buyers are business professionals who may be executives, engineers, managers, researchers,
in fact anyone who spends most of their working day online. This lucrative market segment
does not get the attention it deserves. Often these people are responsible for making
purchasing decisions that require sourcing supplies, materials and services all under very
tight time pressures. What a perfect target for online advertising! Make sure you don't
discount these very influential buyers.
Consumers
This category includes the home computer user who routinely checks out commercial online
services. This group is a gold mine. They're already receptive to making purchases over the
Internet. Marketers only have to make the online shopping experience easier and this market
is hooked. No longer will consumers be heading out to the mall for goods and services, they'll
be shopping online in droves and loving it.
Surfers
Surfers are the online fun seekers. They use online technology as a form of recreation,
to play games, get music and expand their knowledge. They are typically younger and
fickle. And these people have short attention spans. They move all over in cyberspace. If
something catches their attention, they stick around. If a little bit of boredom sets in, they're
off again and surfing elsewhere. This is the most challenging group to market to, but one with
a huge potential. Surfers are an impulsive bunch. If a product catches their eye, they'll buy
online with no second thoughts. It's a bit like positioning the candy at the check out counter
in the supermarket...you have a captive audience who finds it hard to resist temptation.
Marketing segmentation for online marketing takes many forms, and before you go out and
craft your first online marketing campaign, you need to be sure of who exactly each
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campaign is going to reach out to. Online marketing market segmentation has several
similarities as offline marketing.
For example, in the offline world, you will always need to search for where your target
audience is already hanging out, and put your advertising dollars there. The same goes for
online marketing. You need to know which websites your target customers are already
surfing.
Here are some ways you can segment your market. Remember, the clearer you know who
your target audience is, the better it is and easier for you to find a place to fit your ad.
1. Demographic segmentation - you can segment your audience by age, gender, education
level, or socio-economic status.
2. Lifecycle segmentation - this form of segmentation understands that consumers need

different products at different life stages, and you need to target just one of these stages (e.g.
pregnancy)
3. Geographic segmentation - in this form of segmentation, you target specific countries, or

even as small as a specific neighborhood. This is particularly important if you are a brick and
mortar service shop like a barber or law attorney.
4. Job segmentation- segmenting by jobs or occupational roles takes into consideration the
roles of the particular person at work. For example, you might be targeting just the
purchasing managers of a particular industry.
5. Specialty segmentation - this identifies a very tightly narrow and niche audience that is
facing a common issues or have a common interest. For example, you could be targeting only
the people who owns a certain model of motorbikes.
The power of the Internet is that is captures the global economy, and because of this, it is best
to really niche your focus and find a segment that you can really serve well. By focusing on
your segment, it will be easier for you to reach out to that particular segment.
4

2. Develop an appropriate questionnaire to measure consumer attitudes towards any

two of the following, based on what you have studied about attitudes and attitude
measurement:
a. Health clubs
b. Diet Colas
c. Mutual funds
Questionnaire on Mutual Funds
Question 1
Do you invest money?
Frequency Valid Cumulative

Percent Percent Percent
Valid Yes 150 100.0 100.0 100.0
Question 2
Do you invest mutual fund?
Valid Yes 146 97.3 97.3 97.3
No 4 2.7 2.7 2.7
Total 150 100.0 100.0 100.0
Question 3
What is your investment horizon?
Valid up to 1 13 8.7 8.7 8.7
year 34 22.7 22.7 31.3
1-3 years 50 33.3 33.3 64.7
3-5 years
Above 5 53 35.3 35.3
years 150 100.0 100.0 100.0
Total
Question 4
If no what could be the reasons?
Valid risk 2 1.3
involved
100.0 100.0
5

Missing system 148 98.7
Total 150 100.0
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Question 5
What percentage of your income do you invest in

Valid <10% in MF 5 3.3 3.4 3.4
10-20% in MF 24 16.0 16.6 20.0
20-40% in MF 98 65.3 67.6 87.6
40-60% in MF 15 10.0 10.3 97.9
more than 60% in
MF 1 .7 .7 98.6
20-40% in PMS 1 .7 .7 99.3
40-60% IN PMS 1 .7 .7 100.0
Total 145 96.7 100.0
Missing System 5 3.3
Total 150 100.0
Question 6
Do you prefer to invest in sector funds

Yes 70
No 30
Question 7
In Which Sector fund you invest the more

ETF 45
Reliance 25
Canara Robecca 20
UTI 10
Question 7
The most important factor for an investment

or of sectoral mutual fund
Returns 40
Risk 30
Portfolio 20
Service 10
7

Questionnaire on health clubs
Rate your overall activity level?

• Sedentary
• Moderately active
• Active
• Very active
What exercise, if any, do you currently do?
What exercise, if any, have you done in the past? How long ago?
What is your current cardiovascular fitness level, or your ability to perform aerobic exercise
like cycling, brisk walking, jogging, etc.?
 Very low
 Fair
 Average
 Good
 Excellent
How would you rate your experience with exercise?
 Beginner
 Intermediate
 Advanced
Do you exercise regularly?

 I have never exercised regularly
 I am currently starting back on a program, I used to exercised regularly.
 I am currently exercise regularly
What are your fitness goals? (check all that apply):
 Appearance (aesthetics)
 Cardiovascular endurance
 Fat reduction
 Flexibility
 Health (General)
 Muscular definition
 Muscular endurance
 Muscular size
 Muscular strength
 Power
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 Self-esteem or confidence
 Speed
 Sports performance
 Stress reduction
 Toning and shaping
 Weight loss
 Posture
 Other
Please explain your perceived benefits or objectives the behind your goals.
Please list problem body parts (specify over fat, over or under developed).
Please type how much total time you can devote to exercise each day. For significant results
include at least 3-4 days per week for at least 30 minutes, for optimal results include 5-6 days
a week. If there are specific days you like to have off, please do not put down your
availability for those days.
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
Please list other physical activities you will be engaging in addition to this program (soccer
practice, basketball league, etc.):
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3. Why in your view, does reference to influence tend to vary across product categories?
Identify any two products where the reference group influence is: Explain the reasons
for this pattern of reference group influence
A reference group is one that the individual tends to use as the anchor point for evaluating
his/her own beliefs and attitudes. One may or may not be a member and may or may not
aspire to membership in a reference group; nevertheless, it can have great influence on one's
values, opinions, attitudes, and behavior patterns. A reference group may be positive; that is,
the individual patterns his or her own beliefs and behavior to be congruent with those of the
group. Or, it may be negative. A negative reference group is just as influential. The church,
labor union, political party, or sorority are examples of both positive and negative
reference groups for specific individuals. It also is a term coined by Herbert Hyman to
designate a group that an individual uses as a "point of reference" in determining his or her
own judgments, preferences, beliefs, and behavior. The size of a reference group can be a
single individual (although perhaps in this case the term group should not be used) to a very
large aggregate of persons such as a political party or religious institution.
A useful framework of analysis of group influence on the individual is the so called reference
group—the term comes about because an individual uses a relevant group as a standard of
reference against which oneself is compared. Reference groups come in several different
forms.
Variability among products

When the influence of reference groups on the purchase of a number of consumer goods was
first studied, it was found that the conspicuousness of a product is a strong determinant of its
susceptibility to reference group influence. Conspicuousness may be of two forms, however.
First the item must be exclusive in some way. If virtually everyone owns it, it is not
conspicuous in the first sense, even though it may be highly visible. Operationally we may
think of this as the distinction between luxuries (having a degree of exclusivity) and
necessities (possessed by virtually everyone). Second the item must be seen or identified by
others. Thus, where an item is consumed had great relevance. In this situation, a distinction
may be made between publicly consumed products (which are seen by others) and privately
consumed items (not seen by others). Reference groups may influence either the purchase of
a product or the choice of a particular brand, or both.
Other consumer researchers have investigated the role of reference group influence on
product and brand choice for several product categories
Combining public private and luxury necessity dimensions with product and brand purchase
decision
Brand Products
Strong reference group influence (+)
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Weak reference group influence (-)

Public necessities influence: Weak product and strong brand Examples: Wristwatch,
automobile, man’s suit.
Strong reference group influence (+)

Public luxuries Influence: Strong product and brand Examples: Golf clubs, snow skis,
sailboat
Strong reference group influence (-)
Necessity
Weak reference group influence (-)

Private necessities Influence: Weak and product and brand. Examples: mattress floor lamp,
refrigerator.
Luxury
Private luxuries influence: Strong product and weak brand. Examples: TV game, trash
compactor, Icemaker.
It combines the concepts of public private consumption and luxury necessity items and, when
applied to product and brand decisions offer a set of eight reference group influence
relationships.
Publicly consumed luxury:

A product consumed in public view and not commonly owned or used (such as Golf clubs) In
this case whether or not the product is owned and also what brand is purchased is likely to be
influenced by others.
Relationships with reference group influence:
a) Because it is a luxury influence for the product should be strong

b) Because it will be seen by others, influence for the brand of the product should be
wrong.
Privately consumed luxury:
A product consumed out of public view and not commonly owned or used (for example, a
trash compactor). In many cases, the brand is not conspicuous or socially important and is a
matter of individual choice but ownership of the product does convey a message about the
owner.
Relationships with reference group influence:
a) Because it is a luxury, influence for the product should be strong
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b) Because it will not be seen by others, influence for the brand of the product should be
weak.
Publicly consumed necessity: A product consumed in public view that virtually everyone
owns (such as wristwatch) This group is made up of products that essentially all people or a
large proportion of people use, although they differ as to what type of brand to use.
a) Because it is a necessity, influence for the product should be weak.

b) Because it will be seen by others influence for the brand of the product should be
strong.
Privately consumed necessity:
A product consumed out of public view that virtually everyone owns (such as a mattress).
Purchasing behavior is largely governed by product attributes rather than by the influences of
others. In this group, neither products nor brands tend to be socially conspicuous and the
products are owned by nearly all consumers.
Relationships to reference group influence:
a) Because it is necessity influence for the product should be weak.

b) Because it will not be seen by others influence for the brand of the product should be
weak.
A. Strong for product choice but weak for brand choice

Private luxuries influence: Strong product and weak brand. Examples: TV game, trash
compactor, Icemaker.
It combines the concepts of public private consumption and luxury necessity items and, when
applied to product and brand decisions offer a set of eight reference group influence
relationships.
B. Strong for both Product choice and Brand choice

Public luxuries Influence: Strong product and brand Examples: Golf clubs, snow skis,
sailboat
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4. From among the purchases made by you or your family in the last few years identify
any three purchases that required a large degree of pre purchase search for
information. Clearly explain what characteristics of the product or the buying situation
made this search behavior necessary.
“Stages in the Consumer’s Purchasing Process” outlines the buying stages consumers
go through. At any given time, you’re probably in some sort of buying stage. You’re thinking
about the different types of things you want or need to eventually buy, how you are going to
find the best ones at the best price, and where and how will you buy them. Meanwhile, there
are other products you have already purchased that you’re evaluating. Some might be better
than others. Will you discard them, and if so, how? Then what will you buy? Where does that
process start?
Stages in the Consumer’s Purchasing Process
Search for Information is the second step in decision making process
Maybe you have owned several backpacks and know what you like and don’t like
about them. Or, there might be a particular brand that you’ve purchased in the past
that you liked and want to purchase in the future. This is a great position for the
13

company that owns the brand to be in—something firms strive for. Why? Because it
often means you will limit your search and simply buy their brand again.
If what you already know about backpacks doesn’t provide you with enough information,
you’ll probably continue to gather information from various sources. Frequently people ask
friends, family, and neighbors about their experiences with products. Magazines such as
Consumer Reports or Backpacker Magazine might also help you.
Internet shopping sites such as Amazon.com have become a common source of information
about products. Epinions.com is an example of consumer-generated review site. The site
offers product ratings, buying tips, and price information. Amazon.com also offers product
reviews written by consumers. People prefer “independent” sources such as this when they
are looking for product information. However, they also often consult nonmetal sources of
information, such advertisements, brochures, company Web sites, and salespeople.
Information search and decision making. Consumers engage in both internal and
external information search.
Internal search involves the consumer identifying alternatives from his or her memory. For
certain low involvement products, it is very important that marketing programs achieve “top
of mind” awareness. For example, few people will search the Yellow Pages for fast food
restaurants; thus, the consumer must be able to retrieve one’s restaurant from memory before
it will be considered. For high involvement products, consumers are more likely to use an
external search. Before buying a car, for example, the consumer may ask friends’ opinions,
read reviews in Consumer Reports, consult several web sites, and visit several dealerships.
Thus, firms that make products that are selected predominantly through external search must
invest in having information available to the consumer in need—e.g., through brochures, web
sites, or news coverage.
14

Buying car involves both external and internal search
 Internet search, Newspapers, News, Companies websites

 Magazines, showrooms visit, Test driving to know the exact feature
 Personal Views to know what existing buyer feels
 As its an expensive luxury so requires a lot of information as one time investment
Buying LCD involves both external and internal search
 Internet search, Newspapers, News, Companies websites

 Magazines, Dealers and showrooms visit to know the exact feature
 Personal Views to know what existing buyer feels
 As it’s an expensive luxury so requires a lot of information
 Comparative analysis of many companies offering with discounts.
15

5. Assess some of your brand choice decisions and identify At least two each that fall
into the category of extended problem solving, limited problem solving and routinised
response decisions. Explain how did your need for information vary in each case of each
category and why? What are the implications for marketers In view of this variation in
requirement of information?
Buyer behaviour involves both simple and complex mental processes. Marketers cannot
capture human nature in its entirety but we can learn a lot about customers through research,
observation and thinking. Here's Professor Theodore Levitt:
Types of Consumer Buying Situation

A customer's approach to purchasing a product or service is influenced by their situation -
whether they have money and how important, frequent, risky or urgent the purchase is to
them in their situation.
Imagine the difference between someone with plenty of money who can afford to make a
mistake when buying as opposed to someone who has scraped her last few pounds together.
They might both be buying the same product but their financial situation suggests that their
approach to buying will be very different.
Customers make more of an effort, and become more involved, if the purchase is relatively
important to them - particularly if they have no previous experience of buying such a product
or service.
On the other hand, if the item being purchased is low value and frequently bought, like a jar
of coffee, it follows that the buyer will spend less time and effort and will have less
involvement with the purchase.
These frequent, inexpensive purchases generally have little risk, and require less information.
These kind of purchase situations are referred to as 'Low Involvement Purchases'. In these
situations, consumers can fall into a routine purchasing pattern which requires little thought
and even less effort.
Whenever the need is stimulated- a particular brand is automatically purchased. This is called
'Routinised Response Behaviour.' You can visit the Hall Of Fame later to see the gurus
explain how brands influence routine purchases.
Alternatively, an expensive high risk infrequent purchase like your first computer will require
a lot of detailed information and careful analysis before deciding which machine. This is
called 'High Involvement'. Here the consumer goes through an extensive problem solving
process - searching and collecting information, evaluating it and eventually deciding on a
particular choice.
16

There is a third type of buying situation. This is where the customer has had some
experience of buying a particular type of product or service before. There is less risk
attached and less information is required. This is called 'Limited Problem Solving'.
Customers require different marketing mixes in different buying situations. For example, a
routinised response purchase, like a can of cola, doesn't require much supporting product
literature but perhaps it needs wide distribution and easy availability. An extensive problem
solving Type of Purchase, on the other hand, would require detailed product literature and
trained sales people.
Time also affects the buying situation. If a purchase is urgent the purchasing pattern will be
different from another situation where there is more time available. For example, the decision
to call a plumber to install a new shower is different from calling a plumber to stop a leaking
pipe!
To summarize, the three types of consumer buying situation can be put onto a problem
solving continuum. Consumer Buying Process
There are many different models that attempt to map the reality of the buying process. Some
are more complex than others.
This Problem Solving Model identifies the stages through which a buyer moves: Awareness
of the need to buy something is called 'problem recognition'. This is followed by 'information
search'. For example, when buying a new multimedia PC, the search could involve: collecting
brochures and sales literature, articles and advertisements, visits to shops and exhibitions,
talking to sales people, computer experts and friends.
The evaluation stage weighs up the criteria, such as size, speed, functions, price, delivery,
reliability or guarantee. Eventually a decision is made to choose and buy a particular brand.
It doesn't end here since the shop might be out of stock. In this case the communications mix
has worked but the marketing mix has failed - distribution problems exist since the product is
not on the shelf where and when it is needed.
When eventually a purchase is made, most of us then suffer some anxiety about whether we
made the right choice. This worry is called Post Purchase Dissonance. It is important for
marketers to reduce this customer anxiety so that buyers become satisfied customers who
develop brand loyalty and become more likely to buy the same brand again if and when the
need arises.
The consumer buying process is not always simply a linear process. Customers sometimes
loop backwards when, say, they discover a new product function or new criterion which
needs to be considered.
In addition, not all kinds of purchases require the high involvement problem solving approach
just discussed.
17

Buying a can of cola, on the other hand, would require less time and effort. It would involve
fewer stages in the buying process. It is a simple, low involvement, routine purchase. This
'routinised response behaviour' takes a shortcut by moving from need awareness (problem
identification) to memory and straight to choice.
Both of these models hide the detailed workings of the mind. Other models, such as
Stimulus-Response models only show inputs, like advertising, and outputs, like sales. Here
the complex workings of the mind are ignored and left inside a kind of 'black box'. There are,
of course, more complex models which try to open up the black box and look inside the
buyers' mind.
And there are other simpler communication models such as AIDA which help marketers to
plan their communications.
Models can be criticised, but they can also provide a loose checklist for a marketing plan.
They can help to give a useful insight into the buying process which is at the core of
marketing
Extended problem solving

An elaborate decision-making process, often initiated by a motive that is fairly central to the
self-concept and accompanied by perceived risk; the consumer tries to collect as much
information as possible, and carefully weighs product alternatives
Limited Problem Solving:

A problem-solving process in which consumers are not motivated to search for information
or to rigorously evaluate each alternative; instead they use simple decision rules to arrive at a
purchase decision
Characteristics of the 2 Methods:
Problem Solving Limited Problem Solving Extended
Motivation * Low risk and involvement *High risk

and involvement
Information search *Little Search, Information Processed

passively * Extensive search, information processed actively
In-store decision likely multiple

Source consulted prior to visit
Alternative Evaluation * Weakly held beliefs only most prominent criteria used
*Strongly held beliefs, many criteria used, significant
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Alternatives perceived as basically similar, differences

perceived among alternatives, compensatory
Non compensatory strategy used strategy used
Purchase * Limited shopping time; may prefer self-service *Many

outlets shopped if needed, communication with
Choice often influenced by store displays store

personnel often desirable
Limited problem solving involves a low degree of complexity in which very little search
and/or evaluation is done prior to making a purchase. When using limited problem solving,
consumers are looking for familiarity and low prices. Consumers choose to engage in limited
problem solving because they feel that they don't have the time, motivation, or resources to
solve a problem or make a purchase extensively.
Extended problem solving involves a high degree of complexity in which all seven
consumer decision making stages are often used. These include need recognition, search for
information, and pre-purchase evaluation of alternatives, purchase, consumption, post-
consumption evaluation, and divestment. Extended problem solving often occurs with
expensive items or can be fueled by doubts and fears. As a result, it takes more time to
make a purchase decision using the extended method.
Buying Colgate and vegetables are examples of routinised response decisions
Buying Car and Electronic items is an example of Extended problem solving
19

Buying Clothes, watches are examples of limited problem solving
20

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MS-61 CONSUMER BEHAVIOR

Please send your documents/contribution at kvrajan6@gmail.com .

Please send your documents/contribution at kvrajan6@gmail.com .

Online market segmentation

Please send your documents/contribution at kvrajan6@gmail.com .

2. Lifecycle segmentation - this form of segmentation understands that consumers need

3. Geographic segmentation - in this form of segmentation, you target specific countries, or

Please send your documents/contribution at kvrajan6@gmail.com .

2. Develop an appropriate questionnaire to measure consumer attitudes towards any

Questionnaire on Mutual Funds

Frequency Valid Cumulative

Please send your documents/contribution at kvrajan6@gmail.com .

Missing system 148 98.7

Total 150 100.0

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Frequency Valid Cumulative

Do you prefer to invest in sector funds

In Which Sector fund you invest the more

The most important factor for an investment

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Questionnaire on health clubs

Rate your overall activity level?

What exercise, if any, do you currently do?

How would you rate your experience with exercise?

Do you exercise regularly?

What are your fitness goals? (check all that apply):

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Sunday Monday Tuesday Wednesday Thursday Friday Saturday

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Variability among products

Strong reference group influence (+)

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Weak reference group influence (-)

Strong reference group influence (+)

Strong reference group influence (-)

Weak reference group influence (-)

Publicly consumed luxury:

Relationships with reference group influence:

a) Because it is a luxury influence for the product should be strong

Privately consumed luxury:

Relationships with reference group influence:

a) Because it is a luxury, influence for the product should be strong

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a) Because it is a necessity, influence for the product should be weak.

Relationships to reference group influence:

a) Because it is necessity influence for the product should be weak.

A. Strong for product choice but weak for brand choice

B. Strong for both Product choice and Brand choice

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Stages in the Consumer’s Purchasing Process

Search for Information is the second step in decision making process

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Buying car involves both external and internal search

 Internet search, Newspapers, News, Companies websites

Buying LCD involves both external and internal search

 Internet search, Newspapers, News, Companies websites

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Types of Consumer Buying Situation

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