Q: What is consumer behavior? What are main factors affecting consumer behavior and what are the stages or steps of buying decision process?
Definition of Consumer Behavior
Consumer behavior is the study of all factors which affect consumer's buying decision. It is the technique to analyze the psychology of consumer. It is very helpful for selling the products to all consumers and satisfy them. In simple words, with the study of consumer behavior, you can know:
a) When will our consumer buy the goods? - To know the correct time
b) Why will he buy the goods? - Know the need of consumer
c) How will he buy the goods? - Process of buying
d) Where will he buy the goods? - Place
Factor affecting consumer's behavior
1. Cultural factors
Culture affects consumer behavior very deeply. Following are the main components of cultural factors.
i) Nationality
Consumer buying decision is affected by nationality of consumer. Need of Indian consumer is different from need of USA consumers
ii) Religion
There are many religion In India. We can not do marketing of drinks for Hindu religious persons, because their behavior is affected by their religion. There religion teach them not to drink alcohols.
2. Social Factors
Consumer's behavior is also affected with many social factor whose list, we can make in following way
a) Reference group
friends, relatives, neighbours, co-workers and classmates
b) Family
father, mother, sister and brother
c) Role and status
peon, clerk and manager
3. Personal Factors
Age of person, his stage in life cycle and his personal occupation also effect his behavior. Children age is age of fun and they can demand education and fun products. After marriage, young couple can demand house for living but at the old age, you can demand health products.
4. Psychological factors
Following are the psychological factors which affects consumer's behavior.
a) motivation b) love c) morality d) security of body e) security of employment
Steps Of Buying Decision Process
1st Step
To Identify the need of Product
This is the first step of buying decision process in which marketer estimates consumer's need of products. Consumer can buy the product for satisfying his basic and other needs.
2nd Step
Collection of Information
After this, consumer will search for buying best product, he can search on Internet or can take help of friends, neighbours and newspapers for find quality product.
3rd Step
Evaluation of Alternatives
After this, buyer will evaluate all alternatives from where he can buy the product. He will choose the best alternative for buying the product.
4th Step
Purchase decision
In this step, buyer buys the product by physically going to market or by giving the order online.
5th Step
Post Purchase Behavior
After purchasing, buyer uses the product and shows his behavior by following ways
a) He is satisfied from the product
c) He is not satisfied from product
Definition of Consumer Behavior
Consumer behavior is the study of all factors which affect consumer's buying decision. It is the technique to analyze the psychology of consumer. It is very helpful for selling the products to all consumers and satisfy them. In simple words, with the study of consumer behavior, you can know:
a) When will our consumer buy the goods? - To know the correct time
b) Why will he buy the goods? - Know the need of consumer
c) How will he buy the goods? - Process of buying
d) Where will he buy the goods? - Place
Factor affecting consumer's behavior
1. Cultural factors
Culture affects consumer behavior very deeply. Following are the main components of cultural factors.
i) Nationality
Consumer buying decision is affected by nationality of consumer. Need of Indian consumer is different from need of USA consumers
ii) Religion
There are many religion In India. We can not do marketing of drinks for Hindu religious persons, because their behavior is affected by their religion. There religion teach them not to drink alcohols.
2. Social Factors
Consumer's behavior is also affected with many social factor whose list, we can make in following way
a) Reference group
friends, relatives, neighbours, co-workers and classmates
b) Family
father, mother, sister and brother
c) Role and status
peon, clerk and manager
3. Personal Factors
Age of person, his stage in life cycle and his personal occupation also effect his behavior. Children age is age of fun and they can demand education and fun products. After marriage, young couple can demand house for living but at the old age, you can demand health products.
4. Psychological factors
Following are the psychological factors which affects consumer's behavior.
a) motivation b) love c) morality d) security of body e) security of employment
Steps Of Buying Decision Process
1st Step
To Identify the need of Product
This is the first step of buying decision process in which marketer estimates consumer's need of products. Consumer can buy the product for satisfying his basic and other needs.
2nd Step
Collection of Information
After this, consumer will search for buying best product, he can search on Internet or can take help of friends, neighbours and newspapers for find quality product.
3rd Step
Evaluation of Alternatives
After this, buyer will evaluate all alternatives from where he can buy the product. He will choose the best alternative for buying the product.
4th Step
Purchase decision
In this step, buyer buys the product by physically going to market or by giving the order online.
5th Step
Post Purchase Behavior
After purchasing, buyer uses the product and shows his behavior by following ways
a) He is satisfied from the product
c) He is not satisfied from product
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