What is the concept of consumer behaviour in marketing?

What is the concept of consumer behaviour in marketing?

Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company. It is critical to understand consumer behavior to know how potential customers will respond to a new product or service.

What are the 5 influences on consumer behavior?

These factors are namely Psychological, Social, Cultural, Personal, and Economic factors.

What are the characteristics of consumer behaviour?

CHARACTERISTIC OF CONSUMER BEHAVIOR

  • Need identification to buy the product .
  • Information search relating to the product.
  • Listing of alternative brands.
  • Evaluating the alternative (cost-benefit analysis)
  • Purchase decision.
  • Post-purchase evaluation by the marketer.

What does consumer concept mean?

Therefore the definition of the concept of consumer is a natural person who purchases, uses goods or accepts services for the purposes of daily consumption. The rights and interests of consumers shall be protected by these regulations. But those whose act is profitable shall be excluded.

What are the types of consumer behavior?

4 Types of Consumer Behavior

  • Complex buying behavior.
  • Dissonance-reducing buying behavior.
  • Habitual buying behavior.
  • Variety seeking behavior.

What are the 6 steps in the consumer behavior process?

The 6 Stages of the Customer Buying Process

  • Stage #1: Problem Recognition.
  • Stage #2: Information Search.
  • Stage #3: Evaluation of Alternatives.
  • Stage #4: Purchase Decision.
  • Stage #5: Purchase.
  • Stage #6: Post-Purchase Evaluation.

What is the scope and concepts related to consumer behavior?

It is a concept which involves many stages, from arising needs to the purchase decision. The scope of consumer behaviour may describe the decision process and individual engagement in evaluating, acquiring, using goods and services.

What are the 8 Consumer rights?

The eight consumer rights are: Right to basic needs, Right to safety, Right to information, Right to choose, Right to representation, Right to redress, Right to consumer education, and Right to healthy environment.

What are the characteristics of consumer Behaviour?

Which are the theories of consumer behaviour?

The psychoanalytic approach which stresses self-reported unconscious desires;

  • trait theory which stresses the classification of personality types; and
  • the self-concept approach,which is concerned with how we perceive ourselves as consumers.

    • What are examples of consumer behavior?

    Risk perception and risk reduction activities.

  • New product adoption and diffusion of innovations.
  • Brand-switching.
  • Channel-switching.
  • Impulse buying.
  • Affect: Emotions,feelings and mood.
  • Customer loyalty.
  • Customer citizenship behaviour.
  • Internet consumer behaviour.
  • The role of aesthetics and visual fluency in relation to consumer choice.

    • What are aims and objective of consumer behavior?

    Objectives of Consumer Behaviour Analysis. The objectives of consumer behaviour analysis are mostly consumer researches are undertaken to find out the attitudes of the consumer about a product. Their preferences, likes and dislikes which lead to the further modernization of the sales strategies by the marketer.

    What are the different models of consumer behavior?

    Price effect – Lesser the price of the product,more will be the quantity purchased. ADVERTISEMENTS:

  • Substitution effect – Lesser the price of the substitute product,lesser will be the quantity of the original product bought.
  • Income effect – More the purchasing power,more will be the quantity purchased