Consumer Buyer Behavior

CONSUMER MARKETS AND CONSUMER BUYER BEHAVIOR

CONSUMER BUYER BEHAVIOR- refers to the buying behavior of final consumers (individuals & households) who buy goods and services for personal consumption.

It is also the decision processes and acts of people involved in buying and using products. It involves the use and disposal of products as well as the study of how they are purchased. Product use is often of great interest to the marketer, because this may influence how a product is best positioned or how we can encourage increased consumption.

CONSUMER MARKET - refers to the final consumers (individuals & households) who buy goods and services for personal consumption.

* MODEL OF CONSUMER BEHAVIOR

Above model is called "Stimuli Response Model". Marketing and environmental stimuli enter the buyer's consciousness. The buyer's characteristics and decision process lead to purchase decisions. The marketer's task is to understand what happens in the buyer's consciousness between the arrival of outside stimuli and purchase decisions.

Marketing stimuli consist of the four Ps: product, price, place, and promotion. Other stimuli include major forces and events in the buyer's environment: economic, technological, political, and cultural. All these inputs enter the buyer's black box, where they are turned into a set of observable buyer responses: product choice, brand choice, dealer choice, purchase timing, and purchase amount.

The marketer wants to understand how the stimuli are changed into responses inside the consumer's black box, which has two parts. First, the buyer's characteristics influence how he or she perceives and reacts to the stimuli. Second, the buyer's decision process itself affects the buyer's behavior. This chapter looks first at buyer characteristics as they affect buying behavior, and then discusses the buyer decision process.

 Consumer purchases are influenced strongly by cultural, social, personal, and psychological...