In the above examples, both Tom and Mike are consumers. Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket. Both Maria and Sandra went to the nearby shopping mall to buy dresses for themselves. The store manager showed them the best dresses available with him.
Maria immediately purchased two dresses but Sandra returned home empty handed. The dresses were little too expensive for Sandra and she preferred simple and subtle designs as compared to designer wears available at the store.
In the above example Sandra and Maria had similar requirements but there was a huge difference in their taste, mind set and ability to spend.
Consumer Behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use. There are infact several factors which influence buying decision of a consumer ranging from psychological, social, economic and so on.
For example, kids prefer colourful and fancy footwear, but as they grow up as teenagers and young adults, they prefer trendy footwear, and as middle-aged and senior citizens they prefer more sober footwear. The change in buying behaviour may take place due to several other factors such as increase in income level, education level and marketing factors. All consumers do not behave in the same manner. The differences in consumer behaviour are due to individual factors such as the nature of the consumers, lifestyle and culture.
For example, some consumers are technoholics. They go on a shopping and spend beyond their means. They borrow money from friends, relatives, banks, and at times even adopt unethical means to spend on shopping of advance technologies.
But there are other consumers who, despite having surplus money, do not go even for the regular purchases and avoid use and purchase of advance technologies. The consumer behaviour varies across states, regions and countries.
For example, the behaviour of the urban consumers is different from that of the rural consumers. A good number of rural consumers are conservative in their buying behaviours.
The consumer behaviour may also varies across the states, regions and countries. It may differ depending on the upbringing, lifestyles and level of development. Marketers need to have a good knowledge of the consumer behaviour. They need to study the various factors that influence the consumer behaviour of their target customers. The knowledge of consumer behaviour enables them to take appropriate marketing decisions in respect of the following factors: A positive consumer behaviour leads to a purchase decision.
A consumer may take the decision of buying a product on the basis of different buying motives. The purchase decision leads to higher demand, and the sales of the marketers increase. Therefore, marketers need to influence consumer behaviour to increase their purchases.
Consumer behavior involves services and ideas as well as tangible products. The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for .
Understanding consumer behavior is a broad and complicated task, but with the right research mix you can begin to get a detailed understanding of your customers and their motivations.
To define consumer behavior: it is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services. A more in depth definition will also include how that process impacts the world. Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company. It is critical to understand consumer behavior to.
Consumer behavior is a hotbed of psychological research as it ties together issues of communication (advertising and marketing), identity (you are what you buy), social status, decision-making. Consumer Behaviour deals with various stages that a consumer goes through before purchasing any product or service. Lets understand the concept in detail with the help of few examples.