Project Report on Consumer Behaviour

8/21/2019 Project Report on Consumer Behaviour

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PROJECT

REPORTON

FACTORS INFLUENCINGCONSUMER BUYING

BEHAVIOR

FOR

CONSUMER GOODS

SUBMITTED TO:-

DR. PRIYANKA AGGARWAL

SUBMITTED BY:-

VISHNU RAJ MALIK (57)

YAMAN SINGHANIA (27)

KAPIL GARG (54)


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WHAT IS CONSUMER BUYING BEHAVIOR?

Consumer Buyin Be!"#ior re$ers %o %!e &uyin &e!"#ior o$ %!e u'%im"%e (onsumer) M"ny

$"(%ors* s+e(i$i(i%ies "n, (!"r"(%eris%i(s in$'uen(e %!e in,i#i,u"' in -!"% !e is "n, %!e

(onsumer in !is ,e(ision m".in +ro(ess* s!o++in !"&i%s* +ur(!"sin &e!"#ior* %!e &r"n,s

!e &uys or %!e re%"i'ers !e oes) A +ur(!"se ,e(ision is %!e resu'% o$ e"(! "n, e#ery one o$

%!ese $"(%ors) An in,i#i,u"' "n, " (onsumer is 'e, &y !is (u'%ure* !is su&(u'%ure* !is so(i"'

('"ss* !is mem&ers!i+ rou+s* !is $"mi'y* !is +erson"'i%y* !is +sy(!o'oi("' $"(%ors* e%()) "n,

is in$'uen(e, &y (u'%ur"' %ren,s "s -e'' "s !is so(i"' "n, so(ie%"' en#ironmen%)By i,en%i$yin

"n, un,ers%"n,in %!e $"(%ors %!"% in$'uen(e %!eir (us%omers* &r"n,s !"#e %!e o++or%uni%y %o

,e#e'o+ " s%r"%ey* " m"r.e%in mess"e /Uni0ue V"'ue Pro+osi%ion1 "n, ",#er%isin

("m+"ins more e$$i(ien% "n, more in 'ine -i%! %!e nee,s "n, -"ys o$ %!in.in o$ %!eir

%"re% (onsumers* " re"' "sse% %o &e%%er mee% %!e nee,s o$ i%s (us%omers "n, in(re"se s"'es)


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WHAT ARE FACTORS AFFECTING CONSUMER BUYING BEHAVIOR?

Consumer s &uyer &e!"#ior is in$'uen(e, &y $our m"2or $"(%ors3

41 Cu'%ur"'

51 So(i"'

61 Person"'

71 Psy(!o'oi("'


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I) CULTURAL FACTORS

Cultural factors comprise of set of values and ideologies of a particular

community or group of individuals. It is the culture of an individual which decides

the way he/she behaves. In simpler words, culture is nothing but values of an

individual. What an individual learns from his parents and relatives as a child

becomes his culture.

4) Cu'%ure "n, So(ie%"' en#ironmen%

Cu'%ure is (ru(i"' -!en i% (omes %o un,ers%"n,in %!e nee,s "n, &e!"#iors o$ "n in,i#i,u"')

B"si("''y* (u'%ure is %!e +"r% o$ e#ery so(ie%y "n, is %!e im+or%"n% ("use o$ +erson -"n%s "n,

&e!"#ior) T!e in$'uen(e o$ (u'%ure on &uyin &e!"#ior #"ries $rom (oun%ry %o (oun%ry%!ere$ore m"r.e%ers !"#e %o &e #ery ("re$u' in "n"'y8in %!e (u'%ure o$ ,i$$eren% rou+s*

reions or e#en (oun%ries) T!rou!ou% !is e9is%en(e* "n in,i#i,u"' -i'' &e in$'uen(e, &y !is

$"mi'y* !is $rien,s* !is (u'%ur"' en#ironmen% or so(ie%y %!"% -i'' %e"(! !im #"'ues*

+re$eren(es "s -e'' "s (ommon &e!"#iors %o %!eir o-n (u'%ure) For " &r"n,* i% is im+or%"n% %o

un,ers%"n, "n, %".e in%o "((oun% %!e (u'%ur"' $"(%ors in!eren% %o e"(! m"r.e% or %o e"(!

si%u"%ion in or,er %o ","+% i%s +ro,u(% "n, i%s m"r.e%in s%r"%ey) As %!ese -i'' +'"y " ro'e in

%!e +er(e+%ion* !"&i%s* &e!"#ior or e9+e(%"%ions o$ (onsumers)

For example* in %!e :es%* i% is (ommon %o in#i%e (o''e"ues or $rien,s "% !ome $or " ,rin. or

,inner) In J"+"n* on %!e (on%r"ry* in#i%e someone !ome ,oes no% usu"''y $i% in%o %!e 'o("'

(us%oms) I% is +re$er"&'e %o ,o %!"% %!is .in, o$ ou%in -i%! $rien,s or (o''e"ues in

res%"ur"n%)


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5) Su&;(u'%ures

A so(ie%y is (om+ose, o$ se#er"' su&(u'%ures in -!i(! +eo+'e ("n i,en%i$y) Su&(u'%ures "re

rou+s o$ +eo+'e -!o s!"re %!e s"me #"'ues &"se, on " (ommon e9+erien(e or " simi'"r

'i$es%y'e in ener"') E"(! (u'%ure (on%"ins ,i$$eren% su&(u'%ures su(! "s re'iions*

n"%ion"'i%ies* eor"+!i( reions* r"(i"' rou+s e%() M"r.e%ers ("n use %!ese rou+s &y

semen%in %!e m"r.e% in%o #"rious sm"'' +or%ions) For e9"m+'e in re(en% ye"rs* %!e semen%

o$ e%!ni( (osme%i(s !"s re"%'y e9+"n,e,) T!ese "re +ro,u(%s more sui%e, %o non;C"u("si"n +o+u'"%ions "n, %o %y+es o$ s.in +imen%"%ion $or A$ri("n* Ar"& or In,i"n +o+u'"%ions)

For example* I%


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6) So(i"' C'"ss

So(i"' ('"sses "re ,e$ine, "s rou+s more or 'ess !omoenous "n, r"n.e, ""ins% e"(! o%!er

"((or,in %o " $orm o$ so(i"' !ier"r(!y) E#en i$ i%


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I% in('u,es rou+s /re$eren(e rou+s* "s+ir"%ion"' rou+s "n, mem&er rou+s1* $"mi'y* ro'es

"n, s%"%us) T!is e9+'"ins %!e ou%si,e in$'uen(es o$ o%!ers on our +ur(!"se ,e(isions ei%!er

,ire(%'y or in,ire(%'y) So(i"' $"(%ors "re "mon %!e $"(%ors in$'uen(in (onsumer &e!"#ior

sini$i("n%'y) T!ey $"'' in%o %!ree ("%eories3 re$eren(e rou+s* $"mi'y "n, so(i"' ro'es "n,

s%"%us)

4) Re$eren(e Grou+s

T!e mem&ers!i+ rou+s o$ "n in,i#i,u"' "re so(i"' rou+s %o -!i(! !e &e'ons "n, -!i(!

-i'' in$'uen(e !im) T!e mem&ers!i+ rou+s "re usu"''y re'"%e, %o i%s so(i"' oriin* "e* +'"(e

o$ resi,en(e* -or.* !o&&ies* 'eisure* e%() Re$eren(e rou+s !"#e +o%en%i"' in $ormin "

+erson "%%i%u,e or &e!"#ior) T!e im+"(% o$ re$eren(e rou+s #"ries "(ross +ro,u(%s "n,

&r"n,s) For e9"m+'e i$ %!e +ro,u(% is #isi&'e su(! "s ,ress* s!oes* ("r e%() %!en %!e in$'uen(e

o$ re$eren(e rou+s -i'' &e !i!) Re$eren(e rou+s "'so in('u,e o+inion 'e",er /" +erson

-!o in$'uen(es o%!er &e("use o$ !is s+e(i"' s.i''* .no-'e,e or o%!er (!"r"(%eris%i(s1)

For example* e#en i$ !e ,oesn


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5) F"mi'y

T!e $"mi'y is m"y&e %!e mos% in$'uen(in $"(%or $or "n in,i#i,u"') I% $orms "n en#ironmen%

o$ so(i"'i8"%ion in -!i(! "n in,i#i,u"' -i'' e#o'#e* s!"+e !is +erson"'i%y* "(0uire #"'ues) Bu%

"'so ,e#e'o+ "%%i%u,es "n, o+inions on #"rious su&2e(%s su(! "s +o'i%i(s* so(ie%y* so(i"'

re'"%ions or !imse'$ "n, !is ,esires) Buyer &e!"#ior is s%ron'y in$'uen(e, &y %!e mem&er o$

" $"mi'y) T!ere$ore m"r.e%ers "re %ryin %o $in, %!e ro'es "n, in$'uen(e o$ %!e !us&"n,* -i$e

"n, (!i',ren) I$ %!e &uyin ,e(ision o$ " +"r%i(u'"r +ro,u(% is in$'uen(e, &y -i$e %!en %!e

m"r.e%ers -i'' %ry %o %"re% %!e -omen in %!eir ",#er%isemen%)


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6) So(i"' ro'es "n, s%"%us

T!e +osi%ion o$ "n in,i#i,u"' -i%!in !is $"mi'y* !is -or.* !is (oun%ry ('u& "n, !is rou+ o$

$rien,s e%() A'' %!is ("n &e ,e$ine, in %erms o$ ro'e "n, so(i"' s%"%us) A so(i"' ro'e is " se% o$

"%%i%u,es "n, "(%i#i%ies %!"% "n in,i#i,u"' is su++ose, %o !"#e "n, ,o "((or,in %o !is

+ro$ession "n, !is +osi%ion "% -or.* !is +osi%ion in %!e $"mi'y* !is en,er* e%() "n,

e9+e(%"%ions o$ %!e +eo+'e "roun, !im))

For example* " (onsumer m"y &uy " Ferr"ri or " Pors(!e $or %!e 0u"'i%y o$ %!e ("r &u% "'so

$or %!e e9%ern"' sins o$ so(i"' su((ess %!"% %!is .in, o$ ("rs re+resen%s) Moreo#er* i% is 'i.e'y

%!"% " CEO ,ri#in " sm"'' ("r 'i.e " For, Fies%" or " Vo'.s-"en Go'$ -ou', &e %".en 'ess

serious'y &y i%s (us%omers "n, &usiness +"r%ners %!"n i$ !e is ,ri#in " Germ"n 'u9ury ("r)

An, %!is .in, o$ &e!"#iors "n, in$'uen(es ("n &e $oun, "% e#ery 'e#e' "n, $or e#ery ro'e "n,

so(i"' s%"%us) A"in* m"ny &r"n,s !"#e un,ers%oo, i% &y (re"%in "n im"e "sso(i"%e, -i%!

%!eir +ro,u(%s re$'e(%in "n im+or%"n% so(i"' ro'e or s%"%us)

III) PERSONAL FACTORS

I% in('u,es su(! #"ri"&'es "s "e "n, 'i$e(y('e s%"e* o((u+"%ion* e(onomi( (ir(ums%"n(es*

'i$es%y'e /"(%i#i%ies* in%eres%s* o+inions "n, ,emor"+!i(s1* +erson"'i%y "n, se'$;(on(e+%)T!ese m"y e9+'"in -!y our +re$eren(es o$%en (!"ne "s our =si%u"%ion> (!"nes) De(isions

"n, &uyin &e!"#ior "re oious'y "'so in$'uen(e, &y %!e (!"r"(%eris%i(s o$ e"(! (onsumer)

4) Ae "n, -"y o$ 'i$e

A (onsumer ,oes no% &uy %!e s"me +ro,u(%s or ser#i(es "% 5? or @? ye"rs) His 'i$es%y'e*

#"'ues* en#ironmen%* "(%i#i%ies* !o&&ies "n, (onsumer !"&i%s e#o'#e %!rou!ou% !is 'i$e) Ae

"n, 'i$e;(y('e !"#e +o%en%i"' im+"(% on %!e (onsumer &uyin &e!"#ior) I% is oious %!"% %!e

(onsumers (!"ne %!e +ur(!"se o$ oo,s "n, ser#i(es -i%! %!e +"ss"e o$ %ime) F"mi'y 'i$e;

(y('e (onsis%s o$ ,i$$eren% s%"es su(! youn sin'es* m"rrie, (ou+'es* unm"rrie, (ou+'es

e%() -!i(! !e'+ m"r.e%ers %o ,e#e'o+ "++ro+ri"%e +ro,u(%s $or e"(! s%"e)


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For example* ,urin !is 'i$e* " (onsumer (ou', (!"ne !is ,ie% $rom un!e"'%!y +ro,u(%s

/$"s% $oo,* re",y me"'s* e%()1 %o " !e"'%!ier ,ie%* ,urin mi,;'i$e -i%! $"mi'y &e$ore nee,in

%o $o''o- " 'i%%'e '"%er " 'o- (!o'es%ero' ,ie% %o "#oi, !e"'%! +ro&'ems)

5) Li$es%y'e

T!e 'i$es%y'e o$ "n in,i#i,u"' in('u,es "'' o$ i%s "(%i#i%ies* in%eres%s* #"'ues "n, o+inions) T!e

'i$es%y'e o$ " (onsumer -i'' in$'uen(e on !is &e!"#ior "n, +ur(!"sin ,e(isions) For

e9"m+'e* " (onsumer -i%! " !e"'%!y "n, &"'"n(e, 'i$es%y'e -i'' +re$er %o e"% or"ni( +ro,u(%s

"n, o %o s+e(i$i( ro(ery s%ores* -i'' ,o some 2oin reu'"r'y /"n, %!ere$ore -i'' &uy

s!oes* ('o%!es "n, s+e(i$i( +ro,u(%s1* e%()

6) Person"'i%y "n, se'$;(on(e+%

Person"'i%y is %!e se% o$ %r"i%s "n, s+e(i$i( (!"r"(%eris%i(s o$ e"(! in,i#i,u"') I% is %!e +ro,u(%

o$ %!e in%er"(%ion o$ +sy(!o'oi("' "n, +!ysio'oi("' (!"r"(%eris%i(s o$ %!e in,i#i,u"' "n,

resu'%s in (ons%"n% &e!"#iors) I% m"%eri"'i8es in%o some %r"i%s su(! "s (on$i,en(e* so(i"&i'i%y*

"u%onomy* (!"rism"* "m&i%ion* o+enness %o o%!ers* s!yness* (uriosi%y* ","+%"&i'i%y* e%()

:!i'e %!e se'$;(on(e+% is %!e im"e %!"% %!e in,i#i,u"' !"s or -ou', 'i.e %o !"#e o$ !im "n,

!e (on#eys %o !is en%our"e) For e9"m+'e* sin(e i%s '"un(!* A++'e (u'%i#"%es "n im"e o$

inno#"%ion* (re"%i#i%y* &o',ness "n, sinu'"ri%y -!i(! is "&'e %o "%%r"(% (onsumers -!o


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i,en%i$y %o %!ese #"'ues "n, -!o $ee' #"'ue, in %!eir se'$;(on(e+% &y &uyin " +ro,u(% $rom

A++'e)

7) O((u+"%ion

T!e o((u+"%ion o$ " +erson !"s sini$i("n% im+"(% on !is &uyin &e!"#ior) For e9"m+'e "

m"r.e%in m"n"er o$ "n or"ni8"%ion -i'' %ry %o +ur(!"se &usiness sui%s* -!ere"s " 'o-

'e#e' -or.er in %!e s"me or"ni8"%ion -i'' +ur(!"se rue, -or. ('o%!es)


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) E(onomi( Cir(ums%"n(es

Consumer e(onomi( si%u"%ion !"s re"% in$'uen(e on !is &uyin &e!"#ior) I$ %!e in(ome "n,

s"#ins o$ " (us%omer is !i! %!en !e -i'' +ur(!"se more e9+ensi#e +ro,u(%s) On %!e o%!er

!"n,* " +erson -i%! 'o- in(ome "n, s"#ins -i'' +ur(!"se ine9+ensi#e +ro,u(%s)

IV) PSHCOLOGICAL FACTORS

I% "$$e(%in our +ur(!"se ,e(ision in('u,es mo%i#"%ion /M"s'o->s !ier"r(!y o$ nee,s1*

+er(e+%ion* 'e"rnin* &e'ie$s "n, "%%i%u,es) O%!er +eo+'e o$%en in$'uen(e " (onsumer s

+ur(!"se ,e(ision) T!e m"r.e%er nee,s %o .no- -!i(! +eo+'e "re in#o'#e, in %!e &uyin

,e(ision "n, -!"% ro'e e"(! +erson +'"ys* so %!"% m"r.e%in s%r"%eies ("n "'so &e "ime, "%

%!ese +eo+'e)

Amon %!e $"(%ors in$'uen(in (onsumer &e!"#ior* +sy(!o'oi("' $"(%ors ("n &e ,i#i,e, in%o

7 ("%eories3

4) Mo%i#"%ion

5) Per(e+%ion

6) Le"rnin7) Be'ie$s "n, A%%i%u,es

4) Mo%i#"%ion

Mo%i#"%ion is -!"% -i'' ,ri#e (onsumers %o ,e#e'o+ " +ur(!"sin &e!"#ior) I% is %!e

e9+ression o$ " nee, is -!i(! &e("me +ressin enou! %o 'e", %!e (onsumer %o -"n% %o

s"%is$y i%) I% is usu"''y -or.in "% " su&(ons(ious 'e#e' "n, is o$%en ,i$$i(u'% %o me"sure) T!e

'e#e' o$ mo%i#"%ion "'so "$$e(%s %!e &uyin &e!"#ior o$ (us%omers) E#ery +erson !"s ,i$$eren%

nee,s su(! "s +!ysio'oi("' nee,s* &io'oi("' nee,s* so(i"' nee,s e%() T!e n"%ure o$ %!e nee,s

is %!"%* some o$ %!em "re mos% +ressin -!i'e o%!ers "re 'e"s% +ressin) T!ere$ore " nee,

&e(omes " mo%i#e -!en i% is more +ressin %o ,ire(% %!e +erson %o see. s"%is$"(%ion)


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Mo%i#"%ion is ,ire(%'y re'"%e, %o %!e nee, "n, is e9+resse, in %!e s"me %y+e o$ ('"ssi$i("%ion

"s ,e$ine, in %!e s%"es o$ %!e (onsumer &uyin ,e(ision +ro(ess) To in(re"se s"'es "n,

en(our"e (onsumers %o +ur(!"se* &r"n,s s!ou', %ry %o (re"%e* m".e (ons(ious or rein$or(e "

nee, in %!e (onsumer s min, so %!"% !e ,e#e'o+s " +ur(!"se mo%i#"%ion) He -i'' &e mu(!

more in%eres%e, in (onsi,erin "n, &uy %!eir +ro,u(%s) T!ey mus% "'so* "((or,in %o rese"r(!*

%!e %y+e o$ +ro,u(% %!ey se'' "n, %!e (onsumers %!ey %"re%* +i(. ou% %!e mo%i#"%ion "n, %!e

nee, %o -!i(! %!eir +ro,u(% res+on, in or,er %o m".e %!em "++e"r "s %!e so'u%ion %o %!e

(onsumers nee,)

5) Per(e+%ion

Per(e+%ion is %!e +ro(ess %!rou! -!i(! "n in,i#i,u"' se'e(%s* or"ni8es "n, in%er+re%s %!e

in$orm"%ion !e re(ei#es in or,er %o ,o some%!in %!"% m".es sense) T!e +er(e+%ion o$ "

si%u"%ion "% " i#en %ime m"y ,e(i,e i$ "n, !o- %!e +erson -i'' "(%) Se'e(%in* or"ni8in "n,

in%er+re%in in$orm"%ion in " -"y %o +ro,u(e " me"nin$u' e9+erien(e o$ %!e -or', is ("''e,

+er(e+%ion) T!ere "re %!ree ,i$$eren% +er(e+%u"' +ro(esses -!i(! "re se'e(%i#e "%%en%ion*

se'e(%i#e ,is%or%ion "n, se'e(%i#e re%en%ion) In ("se o$ se'e(%i#e "%%en%ion* m"r.e%ers %ry %o

"%%r"(% %!e (us%omer "%%en%ion) :!ere"s* in ("se o$ se'e(%i#e ,is%or%ion* (us%omers %ry %o

in%er+re% %!e in$orm"%ion in " -"y %!"% -i'' su++or% -!"% %!e (us%omers "'re",y &e'ie#e)


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6) Le"rnin

Le"rnin is %!rou! "(%ion) :!en -e "(%* -e 'e"rn) I% im+'ies " (!"ne in %!e &e!"#ior

resu'%in $rom %!e e9+erien(e) T!e 'e"rnin (!"nes %!e &e!"#ior o$ "n in,i#i,u"' "s !e

"(0uires in$orm"%ion "n, e9+erien(e) For e9"m+'e* i$ you "re si(. "$%er ,rin.in mi'.* you

!", " ne"%i#e e9+erien(e* you "sso(i"%e %!e mi'. -i%! %!is s%"%e o$ ,is(om$or% "n, you 'e"rn

%!"% you s!ou', no% ,rin. mi'.) T!ere$ore* you ,on % &uy mi'. "nymore) R"%!er* i$ you !", "

oo, e9+erien(e -i%! %!e +ro,u(%* you -i'' !"#e mu(! more ,esire %o &uy i% ""in ne9% %ime)T!e 'e"rnin %!eories ("n &e use, in m"r.e%in &y &r"n,s)

7) Be'ie$s "n, "%%i%u,es


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A &e'ie$ is " (on#i(%ion %!"% "n in,i#i,u"' !"s on some%!in) T!rou! %!e e9+erien(e !e

"(0uires* !is 'e"rnin "n, !is e9%ern"' in$'uen(es /$"mi'y* $rien,s* e%()))1* !e -i'' ,e#e'o+

&e'ie$s %!"% -i'' in$'uen(e !is &uyin &e!"#ior) Cus%omer +ossesses s+e(i$i( &e'ie$ "n,

"%%i%u,e %o-"r,s #"rious +ro,u(%s) Sin(e su(! &e'ie$s "n, "%%i%u,es m".e u+ &r"n, im"e "n,

"$$e(% (onsumer &uyin &e!"#ior %!ere$ore m"r.e%ers "re in%eres%e, in %!em) M"r.e%ers ("n

(!"ne %!e &e'ie$s "n, "%%i%u,es o$ (us%omers &y '"un(!in s+e(i"' ("m+"ins in %!is re"r,)

To (!"ne %!e &r"n, s m"r.e%in mess"e or ",2us% i%

Project Report on Consumer Behaviour

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Transcript of Project Report on Consumer Behaviour