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Session Highlights:
• What is consumer behavior?
• Evolution of Consumer Behavior
• Changing consumers
• Consumer Behavior & Marketing Strategy
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Consumer Behaviour:
The behavior that consumers
display in searching for,
purchasing, using, evaluating,
and disposing of products,
services, ideas or experiences to
satisfy needs and desires.
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Evolution of Consumer Behaviour:
Economics: supply and demand, utility, Role of Income
Psychology: Motivation, perception, learning, beliefs,
attitudes, etc.
Social psychology: social perceptions, social influence, social
rewards, peer pressure, social cues, social sanctions
Sociology: role theory, social class, family life cycle, the
diffusion of innovation process, and population groups
Anthropology: Folklore, cultural myths, gift giving, holiday
observance, rituals, superstitions
Physio-pyschological: study of the interaction of the body
with the mind.
Biochemistry: external variables such as the makeup of the
products
Human genetics: how our genes direct our consumption
behavior. ad clip\Gimme.pdf
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What Motivates a Consumer to Take Action?
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Elements of Consumer Behavior:
• The dynamic interaction of affect and cognition,
behavior, and the environment by which human
beings conduct the exchange aspects of their lives
• Involves the thoughts and feelings people experience
and the actions they perform in consumption
processes
• Includes all things in the environment that influence
thoughts, feelings, and actions
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New Indians: Post Liberalization
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Changing Indian Consumers
• Emerging middle class
• Changing values in middle class
• Rising individualism
• Coexistence of Traditionalism &
Modernity
• Changing role of women
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Contd..
• Changes in consumer aspiration and
expectation
• Increasing disposable income
• Emergence of positive mindset towards
modern retail/e-commerce/e-retail etc
• Value-conscious and Value Seeker
• Growth of ‘Ethnocentric’ mindset
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Contd..
• Proliferation of media and information
technology
• Cross-cultural integration
• Role of Social Media
• Increasing degree of consumer awareness
• Wants to be in control
• Convenience seeking
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Consumer Behavior’s Role in Marketing Strategy
• Marketing strategy
– Design, implementation, and control of a plan to influence
exchanges to achieve organizational objectives
– Developing and presenting marketing stimuli at selected
target markets to influence
• What they think
• How they feel
• What they do
– Powerful force on consumers and society at large
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