Consumer Behavior Articles.

Assignment - A

Question1. Define consumer behavior. Explain briefly the consumer buying decision process? Consumer Behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

It attempts to understand the decision-making processes of buyers, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Consumer Buying Decision Process People decide whether to buy a product or not. There are many parameters which are evaluated before such decision is made. Every consumer goes through a process, which leads to a purchase of a product. Depending (Groceries), to months (Car, TV, etc.), or even years (House, Land, etc.). The process consists of five different stages: on the product type, the duration of this process varies. It may range from few seconds (Impulse Buying), to days

Need Recognition: Consumers recognize problems in the form of need, or a physical cue or stimulus. A person looks at the fuel gauge of his/her car, and knows that he/she should re-fuel. A person smells roasted coffee beans and might be induced to drink coffee. Such visual, or other physical cues, trigger problem or need recognition.

Information Search: In this stage, the consumers look for solutions, to their problems or needs. This can come in the form of past

purchase decision, or the consumer may also look for advice from family or friends. For expensive products, the consumer may research the product online, read reviews, and may be also induced to go and see the product and feel it (Test Drives for cars, TV demonstrations, etc.) Evaluation of...