Consumer Buying Behaviourppt

7/28/2019 Consumer Buying Behaviourppt

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MEANING OF CONSUMER BUYING BEHAVIORConsumer buying behavior is the study of when,

why, how, and where people do or do not buy product. It

attempts to understand the buyer decision making process

both individually & in groups & tries to assess influence onthe consumer from factors such as demographics,

behaviour, family, friends, reference groups & society in

general.


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Consumer behavior can be defined as , The Decision Making

Process And Physical Activity Involve In Acquiring, Evaluating,

Using And Disposing Of Goods And Services.

Definition of consumer buying

behavior


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NEED TO STUDY CONSUMER

BEHAVIOUR

People are changing from time to time, so do their

tastes and preferences. Identifying those is the firststep towards achieving success and the rest depends

on the performance of the product.

This also means that customers are open to new and

different products from time to time. Its just that theywant the product to be flexible and adaptable to their

needs and preferences.


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Example Of FordLets take the example of Ford. Before establishing their

base in India, they engaged in a lot of researches. Their

researches were made on the Indian peoples social life, personal

tastes and preferences, way of life, how they identify an effectiveproduct and what makes them get attracted towards a product.

The social and economic conditions were analyzed.

The general economy of India was also researched on.

They had modified their product to suit the Indian conditions.Their technology had to be adjusted and suited to such an extent

that their car is adaptable to Indian conditions. Today Ford is

enjoying a huge market in India


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It is common for customers to experience concerns after

making a purchase decision. This arises from a concept that is

known as cognitive dissonance. The customer, having bought aproduct, may feel that an alternative would have been preferable.

In these circumstances that customer will not repurchase

immediately, but is likely to switch brands next time.


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Factors influencing consumer

buying behavior


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Factors influencing consumer

buying behavior

Cultural Factors

Social Factors

Personal Factors

Psychological factors

Celebrity Influences


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Cultural Factors

1. Culture:

Cultural shifts

A. Leisure time

B. Health conscious

2. Subculture

3. Social class


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Social Factors

1) Reference group

2) Family group

3) Roles & Status


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Personal Factor

Age & Life Cycle Stage

Family Life-Cycle StagesYoung Middle-Aged OlderSingle

Married Without ChildrenMarried With ChildrenDivorced With Children

SingleMarried Without Children

Married With ChildrenMarried Without Dependent Children

Divorced Without ChildrenDivorced With Children

Divorced Without Dependent Children

Older MarriedOlder Unmarried


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Occupation

Economic situations

Lifestyle

Personality & self concept


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Psychological Factor

Motivation

MASLOW hierarchy of needs!! Physiological

Safety

Love and Belonging Esteem

Self Actualization

Perception Learning

Attitude


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Celebrity Influence

The celebrity affect the consumer buying behaviour by

influencing consumer purchase decision through their unique

promotion strategies.

For Example - Amir khan is promoting Samsung mobile.


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RECENTCHANGESINCONSUMERBEHAVIORS

TelevisionIn 2000 35% population

In 2005 to 50% population

Plasma Television

RefrigeratorIn 2000 9.4% population

In 2005 12% population

Godrej & Whirlpool

Telephone

In 2000 6.5% population

In 2005 12% population

BSNL & MTNL


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Home Owners

In 2000 40 years of age

In 2005 28-30 years of age

Mobile UsersMobile users 130 millions

internet users 40 millions

Nokia & Samsung.

Credit cardCredit card penetration has grown to 10 times between 2001 and2005. ICICI, HDFC, SBI.

EntertainmentConsumer prefer Cinemax & PVR rather than multiplexes &Cinema hall.


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Taste & Preferences

Consumer prefers luxurious & branded products Titan, Fast

Track, Rado for watches.

Hospitability Industry

Consumer wants better hospitability & tourism services

SOTC, Star Tours, etc,.

Housing Facilities

Customer wants better housing facilities . Hiranandani,MHADA, LODHA etc,


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Premium Products

Rural Market

After Sales Services

Market Segmentation

Growth OfTelecommunicationSector

Tourism Industry

Construction Field

Health And Hygiene

Internet Facilities

Banking And FinancialInstitutions


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Case Study in Yamaha gladiator-by Mr. Payeng (Mar 16, 2008)

Sales Graph


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Virtually every Auto Magazine in this country rate

the Yamaha Gladiator as a good bike in the 125 cc segment.

Even my own personal opinions do not differ much fromthese auto magazines.

But have a look at the sales figures of the 125 cc and

above segment in India posted below. Since Yamaha India

do not have any other bike except the 125 cc "Gladiator" inthe 125 cc and above segment, the graph clearly indicates the

sales figures of the Gladiator for Yamaha India.


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Who are the 125cc target Customer & what are they lookingfor?

Fuel Efficiency

High Mileage

But according to most Auto Magazines, the Fuel Efficiency of the

Gladiator isn't bad and almost at par with what other 125 cc bikes

offer.

Economies of scale & Scale &

Distance


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Need/problem Recognition The buying process begins with recognition on the

part of the buyer that he has a problem or need.Market Research should try to identify what are thefactors that make a buyer go for a 125 cc bike.

Factors like price, looks/styling, and resale value willbe always there, but according to me, the FuelEfficiency happens to be the most important factor for

a 125 cc buyer. Information search

Personal Sources

Commercial Sources

Public Sources

Experiential Sources

Based on the information gathered, a 125 cc buyer willarrive at an "Evoked or Choice Set" from the 125 cc

bikes available in the market.


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ComparisonHonda Shine

Hero Honda Super Splendor/Glamour Suzuki Zeus/Heat

Bajaj XCD

TVS Flame Yamaha Gladiator

Definitely a good looking bike. The advertisements

showed John Abraham pulling wheelies with this bike in an

Airport. Must be a powerful bike.


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The main problem with gladiator

Awareness

No auto magazines & no internet surfing

Awareness through reference group

The final problem is how they advertise theirproduct


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Reviews

Vijay Says

expensive when it comes to maintenance.

Reputation is not high in comparison with others.

Old formula of promotion

Arvind Says

Superb bike & purchased fortnight. People want everything ( power, mileage, looks,

low cost) in their bikes.


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Reviews

Sankoobaba Says

People dont read magazine & surf internet.

Depend on public opinion.

Yamaha should work on building brandamong masses.

Vaibhav says

Agree with above.

Should market the product efficiently. Learn on Suzuki market & need a right

push.


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Reviews

Aryan Says (purchased)

Bike is best, class handling, exceptional

braking, dam fast.

Bike wasnt marketed properly.

People usually see Bajaj & Honda

around them.

Missing joy of riding Gladi.


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From above analysis it is very clear that Indian consumers

buying behavior and their attitude have changed drastically

in the recent past. One thing is for sure that the pace of

change in the needs, desires and wants of the Indianconsumers will be even steeper and will further change

drastically in the near future.

Consumer Buying Behaviourppt

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