Consumer Behavior

Republic of the Philippines

Polytechnic University of the Philippines

College of Accountancy and Finance

Department of Accountancy

Sta. Mesa, Manila

Chapter 3:

“Comprehensive Report about

Consumer Behavior”

Submitted by: Submitted to:

ALCANTARA, CLARISSE G. ABELARDO U. ABELLERA

BSA 1-5 Professor

INTRODUCTION

1.1 DEFINING CONSUMER BEHAVIOR:

Consumer Behavior refers to the buying behavior of the ultimate consumer. Many factors, specificities and characteristics influence the individual in what he is and the consumer in his decision making process, shopping habits, purchasing behavior, the brands he buys or the retailers he goes. A purchase decision is the result of each and every one of these factors. An individual and a consumer is led by his culture, his subculture, his social class, his membership groups, his family, his personality, his psychological factors, etc.. and is influenced by cultural trends as well as his social and societal environment.

By identifying and understanding the factors that influence their customers, brands have the opportunity to develop a strategy, a marketing message (Unique Value Proposition) and advertising campaigns more efficient and more in line with the needs and ways of thinking of their target consumers, a real asset to better meet the needs of its customers and increase sales. Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume.

1.2 NATURE AND SCOPE OF...