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Literature Review Of Related Literature On Consumer Behavior

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Review of Related Literature Consumer Behavior and Buying Decisions Consumer behavior can’t just change in a snap. But creating a niche by finding and focusing on very specific markets that might encourage change may do so. Being able to focus on the market that accommodates the company the most can do wonders in bringing out the best out of the company. (Kortney Stringer 2003) Consumer behavior is a mix of economic, technological, political, cultural, demographic and natural factors as well as own characteristics which is reflected by attitude, motivation, perception, personality, knowledge and lifestyle. Only when marketers realize these factors and characteristics, they are able to understand consumer behavior. This has resulted in the classification of these behaviors under these categories – Economic, Social, Demographic, Geographic, Psychological, Product & Technology. (Vikram Shende, 2014) Broad Classification of Consumer Behavior Table # Consumer behavior is the behavior that consumers in searching for, purchasing, using, evaluating, and disposing of product and services that they expect will satisfy their needs. It also defined as how they make decisions to use their available resources (time, …show more content…

Sheth, there are three roles a customer has, customer as user, customer as payer, and customer as buyer. Regardless of whether the same person is the user, the payer, and the buyer, each role dictates as a different set of values that are sought out by the customer. He added that it is important to understand what the needs and wants of users, payers, and buyers are. It is the needs and wants of customers that marketers have to satisfy. It also suggested by Jagdish N. Sheth that need arousal is a critical component of the motivation process, and that the arousal of a need moves the customer toward action. User, payer, and buyer have different perception of values of the products and services because they have different needs and

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