Consumer Behavior And Consumer Behaviour - 2274 Words

Introduction A consumer is any person that is involved in the process of consumption. They are identified according to the market type to which they belong, namely final and industrial consumers (Solomon, et al., 2013). Understanding the consumer behaviors will aid in appreciating the various market segments and developing strategies for effecting market penetration in these segments. It will also help in identifying market gaps and shape their needs and objectives so as to solve the day-to-day consumer’s concerns in purchase. The single purpose of all production is consumption. The producer’s interest should only be attended to as far as it is necessary in promoting the needs of a consumer (Smith, 1937 p. 125). Studies on consumer behavior began in the 1960s, and later several consumer theories which focused on the consumer from various perspectives were developed. Marketers use these theories to deveop marketing strategies based on attitudes, interests and consumer perception. Consumer behavior theories All major consumer theories can be grouped into four categories, namely economic, psychological, psycho-analytical, and socio cultural theories. They are based on the simple law of conumption that consumption increases as aggregate income increases, assuming the habits of spending are constant and political and economic conditions are free and perfect (Solomon, et al., 2013). Economic theories Economic theories on consumption are focused on how income is allocated and howShow MoreRelatedConsumer Behavior And Consumer Behaviour2199 Words   |  9 PagesConsumer behavior definition Consumer behavior refers to the behavior of consumers when they buy and consume economic goods and services. The behavior during the purchase of goods consists of, the purchase planning, purchase negotiations, the purchase completion, which still has contractual nature, to post purchase behavior is highly variable (Schiffmann Wisenblit, 2015, p. 30-32). The consumer is influenced by the different factors such as: culture, family, peer groups, feelings, attitudes, personalityRead MoreConsumer Behavior : Consumer Behaviour907 Words   |  4 Pages Stephanie Wagner Consumer behavior Consumer behavior is all around us at all times; from the advertisements that we see to the stores that we shop in. No matter what the purchase we make it is affected by consumer behavior. One place that we see many aspects of consumer behavior. The isles are set up strategically and the food as well. There has been a lot of research to tell grocery stores exactly how to set up in order to make the most profit. Grocery stores tend to use the grid layout whenRead MoreConsumer Behavior And Consumer Behaviour715 Words   |  3 Pages Consumer Behavior Consumer behavior is the study of consumers and the influences they go through to make particular purchasing decisions of products or services available in a market. As a discipline, consumer behavior delves into the dynamics of consumer rationale by evaluating their mindsets on certain items. Therefore, it combines aspects of economics, psychology, marketing and sociology in an attempt to derive a deeper understanding of the behavior of consumers. Moreover, it does not just evaluateRead MoreConsumer Behavior And Consumer Behaviour1575 Words   |  7 Pages1.1. What is consumer behaviour? Consumer behaviour is the study of all the processes implicated when individuals, groups of people or organizations select, purchase, use or dispose of products, services, experiences or ideas to satisfy their needs, wants and desires (Salomon et al. (2006). Acquiring, using and disposing are the process of consumer behaviour. Buying represents an acquisition by consumers and then, they use it, which is known as the usage process. Finally, disposition is the processRead MoreConsumer Behavior And Consumer Behaviour5800 Words   |  24 Pagescreate products that give them value. 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. Consumer buying behavior is influenced by four key set of buyer characteristics: cultural, social, personal, and psychological (Kotler). In other words it is the interplay of forces that takes place during consumption process within the consumer self and his environment. The interactionRead MoreQuestions On Consumer Behaviour And Consumer Behavior1536 Words   |  7 Pages SUBMISSION TITLE: Consumer Behaviour PRODUCT: Two Wheeler INDIAN INSTITUTE OF MANAGEMENT LUCKNOW Over the years there has been a shift in the consumer buying behaviour of two wheelers. While cost, fuel efficiency and comfort have been primary influencers throughout, factors such as aesthetics, brand recognition have gained importance in the recent years. Following are the key consumer factors that have witnessed a change over the years: Change in Consumer Behaviour with Affordability DuringRead MoreThe Effects Of Consumer Behaviour On Consumer Behavior1986 Words   |  8 PagesCONSUMER MISBEHAVIOUR This essay, firstly, seeks to explain the meaning of consumer behaviour. Secondly, the essay will critically analyse consumer misbehaviour. Respectively, Binge drinking, illegal downloading and shoplifting will be given as examples to make misbehaviour term understandable. The essay will focus on the reasons and impacts of misbehaviour. Finally, the essay will give some statistics and pieces of advice to prevent consumer misbehaviour. When people live, they have to do some choicesRead MoreQuestions On Consumer Behaviour And Consumer Behavior2064 Words   |  9 Pages1. Introduction 1.1 Why do marketers need to understand consumer behaviour? Marketers need to understand consumer behaviour in order to know what the consumer wants from a product. This is because different types of people will want different things from the products they buy; for example, an older, married couple will have different needs and wants to a young couple. Marketers also need to understand the behaviour of consumers to design and construct the best marketing approach to capture the chosenRead MoreImportance of Consumer Behavior in Making Marketing Strategy to Marketers1131 Words   |  5 Pageslike a consumer? If we stop to think about it, we find that the entire day is filled with consumption and consumption decisions. What should I wear, what will I eat for breakfast? How can simple decision be so important to society? Consumers answers these question by choosing the options that offer the most value. Consumer behavior is really all about value. (Babin/Harris, pg1) Now most importantly we need to know what is consumer behavior? What is Marketing Strategy? Why Consumer Behavior is importantRead MoreBuyer Behaviour Literature Quotes888 Words   |  4 PagesConsumer behaviour, Peter M. Chisnall (1995) Published London: McGraw-Hill 1995 3rd ed. â€Å"Buying behaviour is complex and influenced by many factors, some of which may conflict with so-called rational decision-making. The interactions of groups and personal behaviour, the interrelationships between attitudes and behaviour, the challenge of authority and status, and the profound, and sometimes subtle, effects of culture on consumption make up, in part, the intricate web of influences which surrounds