The Indian landscape has always been acknowledged for its diverse culture and varied people. In a country where different cultures shape the lifestyle, personality, living patterns and values of an individual, it becomes imperative for the companies to analyze and understand the needs and wants of the customers. Consumer behavior involves the study of the buying patterns and habits of the consumers that enables the companies to comprehend why or why not a consumer purchases a particular product. It endeavors to grasp the decision making process of the buyer, both individually and in groups. It identifies the distinctiveness of the diverse markets such as demographics and behavioral characteristics in an effort to understand the needs of the target audience. It also tries to evaluate persuasions on the consumer from groups such as family, friends, reference groups, and society in general. With the Indian economy, still facing the heat of the slowdown, the need of the hour is to understand what the customer requires and act accordingly. With the augmentation of many foreign retailers,...
Consumer behavior is the ways that consumers exhibit in searching for, purchasing, using, evaluating, and disposing of, products and services. The study of consumer behavior as a separate marketing discipline all started when marketers realized that consumers did not always react as marketing theory suggested they would (Ekström, 2003). Many consumers rebel at using the identical products that everyone else used, instead they prefer differentiated products that they feel reflect their own special needs, personality and lifestyles.
The racecar was not the most creative or what some would call beautifully designed. But the owner and his father worked for weeks on that little wooden block to turn it into something the ten-year-old boy could be proud to race. A previous race showed what needed to be done for a car to make it in the top five. After careful designing, sanding, painting, and graphite the car was finished.
Purchase behavioural helps companies to develop an effective strategy for their products. Figure 4 categorises the purchase behavioural with profitability. Furthermore, attitudinal loyalty is a significant factor for the future profits of companies. They want to know exactly which customers have high relative attitude and other crucial facts. The customers’ attitude analysis is presented on figure 5. Companies are using CLV (customer lifetime value) as it is a method, which can combine all elements and data of customers’ loyalty, behaviour, attitude and help them to increase their profitability (Kumar and Shah, 2004). Gregg is a model o business which loyal and returning customers is vital part of its stability and future development. However, Greggs is a hospitality brand, which has specific characteristics as far as sales and customers’ range are concerned. It has more than 1600 brunches on high street and urban areas. The majority of the brunches are aiming to serve local and tourist customers. Thus, they want returning customers for the local scale operations and for the tourist they are interested more for big and success brand advertisement for
Introduction This paper presents a dynamic model on the consumer behaviour in the real world marketing issue. It will further discuss the marketing and industrial experiences encountered daily in everyday business life, in addition to the consumer behavioural issues and consumer analysis and recommendations. Research studies have argued that industries or companies experience lots of issues in awe of the logistics of their daily routine, giving them the knowledge that can be used to anticipate incoming situations with the way of tackling problems. However, with the familiarity and repeated external occurrences in the marketing scope of an industry, there are many implementations carried out in solving such problems without complexity.
As I walked out of the courthouse and down the ramp, I looked at my mom in disappointment and embarrassment. Never wanting to return to that dreadful place, I slowly drug my feet back to the car. I wanted to curl up in a little ball and I didn't want anyone else to know what I had done. Gaining my composure, I finally got into the car. I didn't even want to hear what my mom had to say. My face was beat red and I was trying to hide my face in the palms of my hands because I knew what was about to come; she was going to start asking me questions, all of the questions I had been asking myself. Sure enough, after a short period of being in the car, the questions began.
Customer behavior can be defined as the process used by organizations, individuals and groups, to select, buy or use particular products or services to satisfy their needs and the impact it has on the society (Wikipedia, consumer behavior). Every product in the market is given a different value by an individual user based on the need it satisfies and also the level of the want. For example a person may put choosing a car as just for a means of transport from point A to point B but for another individual a car is not only used as a mode of transport but also as a means of his lifestyle. Many marketers use these difference of needs in consumers to create different marketing campaigns to attract consumers that use their products.
In today’s competitive world where organizations looking for high profitability and market share, consumers have very important role. Companies are looking for capture consumers in order to get larger market share. For this reason organization developed a number of techniques and tools. One of such tools is consumer behavior which has been come from economic theory. Consumer behavior is mainly studying the factors and situations that can affect purchase decisions of consumers. Consumer behavior is being very important discipline of management sciences which help out to understand of customers’ decision making.
When I was six years old, I hated car rides. To a six year old, a car ride was the epitome of boredom. There was nothing to do on a car ride except sit there for hours watching the trees. I would get carsick every single time I was in my mom’s Volvo. If I wasn’t sick or bored, I was waiting painfully in the backseat for the next exit ramp so my mom could turn off the road for a bathroom break. My mom would have to bribe me with candy or some other special treat just to get me in a car everyday. Some six year olds were afraid of monsters and doctor’s visits; I was afraid of the car. About ten years later something happened, a change. When I finally got my driver’s license at age sixteen, I was no longer afraid of the once dreaded car ride.
To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior. Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other.
According to de Mooij (2011:20) consumer behaviour is the process involved when consumers select, purchase, use...
Consumer behavior is defined as the sum of activities that people go through while obtaining, consuming and disposing of goods and services. It gives insight to the marketers about why people buy so that it would become easier for them to develop and implement their strategies that best influence the consumers once they know how, why and under what circumstances people buy certain goods and services.
The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all
While researchers can determine consumer behavior quite easily, it is almost impossible to get accurate and reliable data on why people buy what they do. How in the world can we figure out why consumers make the decisions in purchases they make, when we can only predict motives? Well, everything tends to be linked to a psychological trait that can help define the behavior of consumers.
This is the research study which is intended to help to people on the market economy and in the community. It shows the consumer’s behavior that affects their decision making on choosing a right product. And this study how also shows this method can be useful when engaged on the products carefully.
Consumer behaviour refers to the behaviour of consumers which involves the mental processes which they go through in recognizing their needs and wants and then finding ways to solve these needs by making purchase decisions. There are several sources that influence consumer behaviour. They are: