CONSUMER BEHAVIOR & FACTOR,S INFLUENCING THE CB

Group - 5

SOURCE- TEXT BOOK PHILIP KOTLER & KEVIN LANE KELLER (PEARSON EDUCATION PUBLICATION)

Consumer Behavior
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. Effective marketing requires insights into consumers mind. It ensures that the right products are conceived, produced and offered to the right consumers in the right way.

Model of Buyer Behavior

Marketing & Other Stimuli

Buyer Response
Buyer Black Box

Marketing Other
Product Economic Price Technological Place Political Promotion Culture
Buyer Characteristics Buyer Decision Process Production Choice Brand Choice Dealer Choice Purchase Timings Purchase Amount

Factor's Influencing the C B

The factors that influencing the consumer behavior are:
Cultural Factors. Social Factors. Personal Factors. Psychological Factors.

Graphical Presentation
Cultural Social
Personal
Age & Life Cycle

Psychologica l

Culture Subculture Social Class

Reference Group Family Roles & Status

Motivation Perception Learning Beliefs Attitudes

Occupation
Economic Situation

Lifestyle
Personality Self - Concept

Cultural Factors
Cultural factors exert a broad and deep influence on consumer behavior. The marketer needs to understand the role played by the buyers.

Contd.Cultural Factors
It contains three factors:-

1- Culture 2- Subculture Class

3- Social

Culture:- The set of basic values, perceptions,

wants & behavior learned by a member of society from family & other important institutions.

Subculture:- A group of people with shared

value systems based on common file experiences and situations. Social Class:- Relatively permanent and ordered division in a society whose member share similar

Social Factors
A consumers behavior also influenced by social factor, such as the consumers small groups, family, and social roles and status.

Contd..Social Factors It contains four factors:1- Groups 2- Opinion leader Roles & status 3- Family 4-

Groups:- Two or more people who interact to

accomplish individual or mutual goals. Opinion leader:- Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others. Family:- Perceptions of family members.

Personal Factors
A buyer decisions also influenced by personal characteristics such as the buyers age and life- cycle stage, occupation, economic situations, lifestyle, personality and self concept.

ContdPersonal Factors
It contains five factors:1- Age & Life-Cycle stage 2- Occupation 3Economic Situation 4- Life Style 5- Personality and Self - Concept

Age & Life- Cycle stage:- Interest according to

the age.

Occupation:- A Person occupation affects the

goods & services bought. Economic Situation:- A Person economic situation will affect product choice. Life Style:- People Coming from same culture has different life style. Personality and Self Concept:- Each person

Phychological Factors A person buying choices are further influenced by different nature and characteristics.

Contd...Psychological Factors
It contains four factors:1- Motivation Attitudes 2- Perception 3- Learning 4-

Motivation:- A need that is sufficiently pressing

to direct the person to seek satisfaction of the need. Perception:- The process by which people select, organize & interpret information to form a meaningful picture of the world . Learning:- Changes in an individuals behavior arising from experience. Attitudes:- A person relatively consistent evaluations, feelings and tendencies toward an