Consumer Buying Behavior

Presented ByRaj Kishor SinghAccman Institute of ManagementGreater Noida

Learning Objectives

Understand the major factors influencing consumer behavior

Know and recognize the types of buying decision behavior

Understand the stages in the buying decision process

Consumer Market

Consists of all the individuals and households who buy or acquire goods and services for personal consumption.

Types of Buying Behavior

Routine Response

Limited Decision

Extension Decision

Impulse Buying

Consumer Buying Decision Process

Problem Recognition

Information Search

Evaluation of Alternatives

Purchase Decision

Post-PurchaseEvaluation

Factors Influencing Consumer Behavior

Personal

Psychological

Social

Cultural

Personal Factors

Age

Life-Cycle Stage

Stages in Family Life-Cycle

1. Single

2. Newly Married Couples

3. Full Nest I

4. Full Nest II

5. Full Nest III

6. Solitary Survivor

7. Retired

Personal Factors

Age

Life-Cycle Stage

Occupation

Economic Circumstances

Life Style

Psychological Factors

“Wants”Based on a want or desire to have something. Not a necessity.

Psychological Factors

Motivation:Freud

Id

Ego

Super Ego

MaslowHierarchy of Needs

Psychological FactorsMotivationPerceptionPerception

The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world.

Selective ExposureSelective DistortionSelective Retention

Psychological Factors

Motivation

Perception

LearningLearningChanges in an individual’s behavior arising form experience

Psychological Factors

Motivation

Perception

Learning

BeliefsBeliefsDescriptive thoughts that a person holds about something

Psychological FactorsMotivationPerceptionLearningBeliefsAttitudesAttitudes

Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies

Functional Factors

“Needs”Need over wants. Delivers to a real “need” to have something.

Social Class

Relatively homogenous, enduring divisions in a society,

hierarchically ordered with members sharing similar values,

interests, and behaviors.

Group Influences

Public LuxuriesGolf Clubs

Snow Skis

Sail Boat

Private LuxuriesTV Video Games

Ice Makers

Trash Compactors

Public NecessitiesWrist Watch

Automobiles

Dress Clothes

Private NecessitiesMattresses

Floor Lamps

Refrigerators

Strong Weak

Strong

Weak

Brand Choice

Prod

uct C

hoice

Family Influence on Buying Behavior

Husband-Dominant

Wife-Dominant

Equal

Culture & Subcultures

CulturesThe accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment

SubculturesGroups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.

Adoption Process

1. Awareness

2. Interest

3. Evaluation

4. Trial

5. Decision

6. Confirmation