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
Consumer buying behavior is the study of how individuals, group and organizations select buy, use of goods and services, ideas or experiences to satisfy their needs and wants
Consumers behavior the study of individuals and groups and organization , processes that are used to identify and secure , use of products and services also experiences or ideas to meet the needs and the effects these
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).
Consumption can be illustrated in different ways, but is usually best defined as the final purchase of goods and services by individuals. Consumer behavior is the study of how people make decisions which they
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 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
1. Consumer behavior: consumer behavior is the study of when, why, how, and where people do or do not buy products. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behavior. (Kuester, Sabine 2012)
The field of consumer behavior studies how consumers (individuals and groups) select, buy, use, and dispose of goods, services, ideas to satisfy their needs.
Consumer behavior refers to the behavior of consumers when they buy and consume economic goods and services. The behavior during the purchase of goods consists of, the purchase planning, purchase negotiations, the purchase completion, which still has contractual nature, to post purchase behavior is highly variable (Schiffmann & Wisenblit, 2015, p. 30-32). The consumer is influenced by the different factors such as: culture, family, peer groups, feelings, attitudes, personality and many other components. Therefore the consumer behavior deals with how the consumer buys, how the consumer decides to buy the product, where the consumer buys the product, how the consumer pays for the product and what the consumer uses the product for (Blackwell et al., 2006, p. 4-6).
behavior The consumer the means to choose the travel and consumption of goods and services to the satisfaction of their needs. There are different processes involved in the behavior of consumers there. At first, Brittany Bhopal threat to find the commodity he wants to eat, he will choose only those products that promise greater utility. After selecting the product of consumption, making estimates of the existing spending. Final
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. Consumer buying behavior is influenced by four key set of buyer characteristics: cultural, social, personal, and psychological (Kotler). In other words it is the interplay of forces that takes place during consumption process within the consumer self and his environment. The interaction takes place between three elements knowledge, affect and behavior. It starts from pre-purchase activities and continues till post purchase experience.
Consumer behaviour can be defined as "the acts of individuals directly involved in obtaining and using economic and services, including the decision process that precede and determine these acts." (Engel et al, 1968, p 5)
Consumer behaviour can be defined as “the acts of individuals directly involved in obtaining and using economic and services, including the decision process that precede and determine these acts.” (Engel et al, 1968, p 5)
a product or service. Consumer behavior involves study of how people buy, what they buy,
Now most importantly we need to know what is consumer behavior? What is Marketing Strategy? Why Consumer Behavior is important in Making Marketing Strategy? Consumer Behavior is the set of value-seeking activities that take place as people go about addressing realized needs. (Babin/Harris, pg.1)