Consumer Behaviour And Consumer Behavior

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

ConsumerPsychologist.com, part of the University of Southern California, define consumer behaviour as "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." Essentially, consumer behavior deals with how frequently a person or organization may purchase an item from a company. It closely relates to elements of customer service--such as problem resolution and overall satisfaction--and to marketing strategies such as pricing, promotion and product placement.

Ans The study of consumer behavior enables marketers to understand and predict consumer behavior in the marketplace; it is concerned not only with what consumers buy but also with why, when, where, and how they buy it. Consumer research is the methodology used to study consumer behavior; it takes place at every phase of the consumption process: before the purchase, during the purchase, and after the purchase.

2. Early on, researchers thought that consumers were logical problem solvers who objectively evaluated the goods and services available to them and selected those that gave them the highest utility at the lowest cost. Soon they realized that consumers were not always consciously aware of why they made the decisions they did.

After purchasing the product and using/testing it, the consumers would either be satisfied or dissatisfied. A company would need the customer to be delighted with the purchase that he has made and also that he should feel proud of it. It is very important for the customers to be delighted and happy with the

During the early years after independence i.e. in 1950s, two wheelers were considered as a luxury good. In 1950s most of the people were dependent on agriculture for their earnings, sources of income were very few, due to which the disposable income with people was also low and only a few could afford two wheelers. Two wheelers were sometimes given as dowry in marriages and considered as a status symbol, since very few families were able to afford them. But now as the income levels have increased and people have easy access to credit and loan facilities, most people can a two wheeler. It is not considered as the luxury good anymore, it has rather become a necessity for some consumers who commute daily and look for economical options.

The field of consumer behavior studies how consumers (individuals and groups) select, buy, use, and dispose of goods, services, ideas to satisfy their needs.

In order to understand the minds of consumers, marketers need to have knowledge of the psychological aspects of how it works. Having this understanding, along with the five stages of the consumers buying process, will assist marketers on how they can influence a consumer’s purchase behavior. Employing the strategies of the four P’s of marketing can be bonuses that will help companies gain an advantage within the marketplace.

Americans are known for their overindulgence in everything: fancy cars, enormous houses, bountiful amounts of food, and ultramodern smartphones. The common mindset of the average American is to want more and more. Many people no longer work for a sense of self-satisfaction, rather they work to obtain an excessive amount of material goods to feel good about themselves and maintain their status in society. All of this exemplifies consumerism. According to Merriam Webster, consumerism is defined as “the theory that an increasing consumption of goods is economically desirable; also : a preoccupation with and inclination toward the buying of consumer goods.” It has persuaded American society into believing that more is better, which has

We study how the use and/or collections of products and their meanings move through a society

As consumers play an important role to businesses, businesses must always satisfy all consumer’s wants and needs. In order to do so, marketers conduct research to learn consumers’ impression and awareness on the companies and their opinions on the companies’ products and services. Consumer perception is defined as a process where consumers select and gather information then form opinions regarded products. Together with advertising, consumer perceptions strongly affect consumer behaviors. Consumer judgment study offers the companies opportunities to know how their consumers behave in the market and to develop marketing strategies in order for the companies to reach the primary goal of earning a profit.

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

In the 1980s, health policy in many countries was strongly influenced by the promotion of consumerism as part of the market ideology (Marincowitz, 2004). The problem with consumerism was that it encouraged people to make demands, but failed to emphasise reciprocal responsibilities (Marincowitz, 2004). Because of a growing awareness of this deficiency, partnership (mutuality) has largely replaced consumerism. This study discusses how the contextual factors and the interactional features and the consumeristic power relationship linked each other and how it negatively influence the therapeutic relationship. Consumerism offers more power to the patient to take decision according to the patient need (Williams and Hariison 1999). This study identified the certain possible sociocultural factors that influence the patient’s treatment decision while using the power of consumerism and the interactional strategy that used by used by the patient to convey it to the therapist during their interaction.