CONSUMER BEHAVIOUR

INTRODUCTION
Consumer Behaviour is the study of when, why, how and where people do or do not buy a product. studies the characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants.

DEFINITION
Consumer behaviour is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences or ideas to satisfy needs and the impacts that these processes have on the consumer and society."

CHARACTERISTICS
Consumer Behaviour studies the way individuals spend money. is an important consideration in fields such as economics and marketing understanding how consumers make their decisions.

METHODS
There are three methods of consumer behaviour. 1. Market Research Method: Is needed to ensure that we produce what customers really want. 2. Primary and Secondary Research Method: Primary Research Method- research that you design and conduct yourself. Eg: Soft Drinks.

METHODS
Secondary Research Method- research conducted using information that others have already put together. Eg: Clothes. 3. Research Sequence Method: More flexible and less precise methods are used before using less flexible and more precise methods.

TYPES
The four types of consumer behaviour are: 1. Routine Response/Programmed Behaviour: Buying low cost items frequently; need very little search and decision effort; Eg: Snack foods, milk etc. 2. Limited Decision Making: Buying product occasionally. Requires a moderate amount of time for information gathering. Eg: Clothes.

TYPES
3. Extensive Decision Making: Complex high involvement, unfamiliar, expensive and/or infrequently bought products. It has high degree of economic, performance, psychological risk. Eg: Cars, homes, computers, education. Spend a lot of time seeking information and deciding. 4. Impulse buying, no conscious planning.

FACTORS
There are 4 factors of consumer behaviour: 1. Cultural Factors: Consumer behaviour is deeply influenced by cultural factors such as: i) Culture. ii) Subculture. iii) Social Class.

FACTORS
2. Social Factors:
Social factors also impact the buying behaviour of consumers. The important social factors are: i) Reference groups. ii) Family. iii) Role and status.

FACTORS
3. Personal Factors:
Personal factors can also impact the consumer behaviour. Some of the personal factors are: i) Lifestyle. ii) Economic situation. iii) Occupation. iv) Age. v) Personality and self concept.

FACTORS
4. Psychological Factors:
Psychological factors can also impact the consumer behaviour. They are: i) Perception. ii) Motivation. iii) Learning. iv) Beliefs and attitudes.