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 In the dynamic environment, the needs & wants

of costumers are becoming highly complex.


 Today the customers are empowered & know
what they want to buy & do not sacrifice their
needs.
 Hence, when the power is shifted from the
manufacturers to the consumers, it is important
to study consumer behavior & develop &
implement strategies accordingly.
 Consumer behavior is defined as the behavior
that consumer display in searching for
purchasing, using, evaluating and disposing of
product and services that they expect will satisfy
their needs.
 Price
 Value
 Quality & offers
 Availability of product or service
 Packaging
 Initiator
 Influencer
 Decider
 Buyer
 User
 Identification of need
 Information search
 Evaluation of alternatives
 Buying decision
 Post purchase behavior
Factors affecting buying
behavior

Cultural Personal Psychological


Social factors
factors factors factors

Opinion
Culture Occupation Perception
leadership

Sub – culture Family Lifestyle Learning

Social class Personality Motivation

Attitude
 According to Kotler’s definition, learning involves
changes in an individual’s behavior arising out of
the experience. Most of the human behavior is
learned over time, out of the experience.
 Features of consumer learning :
 Consumer learning is a process. A process which
continually changes and acquires new
knowledge.
 knowledge can be obtained from reading,
discussing, observing, thinking, etc.
 Newly acquired knowledge or personal
experience, both serves as a feedback.
 Motivation
 Cues
 Response
 Reinforcement
Consumers process information from the
stimulus they receive in various forms. This
processing helps to buy products of their need
and liking. The 5 major ways they use for
information derived from their environment :
 They stand and evaluate products and services.
 They attempt to justify previous product choices.
 To decide whether to buy or postpone the
decision.
 To satisfy a need from the products available
from the market.
 To serve as a reminder to purchase products
which must be replenished.
Process through which consumers are :
 Exposed to information
 Attend to it
 Comprehend it
 Place it in memory
 Retrieve it for later use
 Perception
 Exposure stage
 Attention stage
 Comprehension stage
 Consumer Involvement
 Opinion leaders are generally people who
have the ability to influence others.
 They usually have deeper expertise in a
certain area, and are often looked to for help
in making consumer decisions.
 Opinion leaders not only imagine for
themselves, but also imagine for their
followers.
 Marketers often work with celebrities and
their agencies to determine the optimum time
to post, as well as guiding content.
Characteristics :
 Credible source of information
 Provision of both positive & negative Product/
service information
 Source of information & advice
 High level of involvement & interest
 Influential & persuasive
Limitations :
 Difficult to identify
 Characteristics are subject to change
 During the last five years, the spread of social
media has further changed buying and selling
techniques.
 With platforms like Facebook, Twitter and
YouTube, consumers are able to comment on
their experiences with products and companies
and to share them with their friends
 This has led to the growing need for companies
to generate positive customer experiences
 The existence of social media and the changes in
options has also had a dramatic effect on the
buying behavior model