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MARKETING MANAGEMENT

MEMBERS
NAMES Shikha Singh Nisha Vaish Madiha Pathan Rohit Ailsinghani Ravi Avhad ROLL NOS. 50449 50460 50443 50404

GUIDANCE BY: Prof. Vilasini Mam

CONSUMER BEHAVIOUR
Consumer behaviour is the study of people who do or do not buy a product by taking into consideration the following elements:

What ? Where ? When ? How ? Why ? How much ?

You cannot take the consumer for granted anymore.

Therefore a sound understanding of consumer behaviour is essential for the long run success of any marketing program. Customer behaviour study is based on consumer buying behaviour, with the customer playing the three distinct roles of user, payer and buyer.

FORTUNE EDITOR
MEET THE NEW CONSUMER and smile when you do because she is your boss. It may not be the person you thought you knew. Instead of choosing from what you have to offer, she tells you what she wants. You figure it out how to give it to her.

formula
B = f (P, E)
As per Boone and Kurtz, consumer behaviour is the outcome of both individual and environmental factors

Some cases for consumer behaviour

Low-cost Airlines - Taking Indian Aviation by Storm* Dove - Campaigning for Real Beauty* Pet Services in India - From Bow-Bow to Wow-Wow*

Why is this important?


Out of 11000 products launched by 77 companies, only 56% are present five years later. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of this 83% failed to reach marketing objectives.

Factors influencing consumer behaviour


Internal factors Psychographics (lifestyle) Personality Motivation Knowledge Attitudes Beliefs Feelings Perception External factors Culture Locality Royalty Ethnicity Family Social class Lifestyle Market mix factors (price, place, product, promotion)

Buying Process Of Consumer


Need Recognition Search for the Product

Evaluation Of Alternatives

Purchase Decision

Purchase Act

Post Purchase Evaluation

Motives in buying
There are complex motives behind purchasing decisions. Often the underlying motive is different from the stated motive. Why do people buy rolex watches? - for accurate timing - or as a status symbol

Types of buying behaviour

Routine or programmed- habitual purchase. Low involvement by the buyer ( purchase of milk and bread). Limited decision making- some considerations and evaluations (clothes). Extensive decision making- high involvement buying requiring detailed consideration (car, house). Impulsive buying- bought on impulse without prior thought (packet of chips).

Maslows HierarcHy
Self actualization Spending on creative products Esteem needs (status symbol) Social needs Spending on social pursuits Security needs Security system Physiological needs Food, drink, shelter

Factors that affect the marketing challenge

Extent to which the supply of valid products and services exceed consumer demand.
Ability to communicate with customers quickly and accurately. Existence of multiple avenues of distribution quickly and economically. Extent to which marketers can influence to induce distributors to comply with overall marketing strategy. Economic growth, both nationally and globally.

Stimulus Response Model


Marketing and other stimuli
Marketing
Four (4) Ps All environmental factors

Buyers black box


Buyer characteristics Buyer decision process

Buyers response
Product choice Brand choice Dealer choice Purchase timing Purchase amount

Foundations for marketing decisions

Experience Intuition Research Emotional attack

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