Choose shop ?

What you shop ?

 Think of a recent important purchase briefly draw a flowchart of the steps you recall moving through from the awareness of need to post purchase What influenced you at each step?

What they buy? Why they buy? How they buy? When they buy? Where they buy? How much they buy? How often they buy?

Consumer Behavior is the Process Involved When Individuals or Groups Select, Use, or Dispose of Products, Services, Ideas or Experiences (Exchange) to Satisfy Needs and Desires. Those activities directly involved in obtaining, consuming, and disposing of products and services, with special emphasis on the mental processes that precede and follow these actions

Consumer behaviour is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics.

Study consumer behavior to answer: How do consumers respond to marketing efforts the company might use?

Marketing applications of consumer behavior:

Market segmentation Target market selection

Positioning
Product or service decisions Pricing decisions

Distribution decisions
Promotion decisions

Anthropology

Economics
History and geography Psychology Sociology

Need Recognition

Information Search

Cultural, Social, Individual and Psychological Factors affect all steps

Evaluation of Alternatives Purchase

Postpurchase Behavior

I am Hungry

What all I can get

Burger /Pizza /Dosa /vadapav

Can I buy Pizza ?

Hmm.. It was yummy

Marketing Managers

Consumers (a) Individual Consumer (b) Organizational Consumer Regulators and public policy makers Ethicists

India is one of the fastest-growing large economies in the world. Over the last 15 years India has changed much faster than many predicted. The Indian Consumer Is Rapidly Transforming Outlook From Traditional to Modernized Traditional Paradigm Shift in almost all aspects of life. Value was price now it is price +Time + Convenience.

Eating habits From traditional meals to Indianised McDonalds .

Expected Utility from Products/ Services From Functional to Lifestyle .

With the availability of low-interest finance schemes, price is increasingly becoming a smaller factor in a purchase decision in a whole range of consumer durables also.
One household, multiple products: two cars is no longer a luxury but a practical necessity for working couples. Consuming class increasing . Segments India has various consuming classes The young and the restless Teen Riches, Dudes & Dudettes Call Centre Boomers The Bold and bountiful The Yeppies (Young Entrepreneurial Professionals) The Yippies (Young International Professionals) The raffles (Rural Affluent Farm-Folk): The golden Folks in High Spirits . New Technology .

Classification of Indian consumer based on economic status

The affluent group o The middle class o The relatively poorer section o The BPL section
o

McDonald's goes vegetarian for India. The multinational fast food giant appeals to the Indian consumer promising a pure vegetarian burger - very Indian, very local and promising instant connect with the Indians who shun meat of every kind.

Indian film star Shah Rukh endorses Compaq computers, an instance of global brands modifying their advertisements to attract the Indian consumer. Industry watchers call it globalisation - a saleable mix of the global and the local.

Consumer research yields information concerning the motivations of consumers, their perceptions about advertising, the reason they buy a particular product, and the things that influence their brand choices. Research generally conducted through the use of various techniques and strategies, such as focus groups, in-depth interviews, inquiry tests, aided recall interviews, consumer surveys, and attitude testing.

So we can conclude that ,consumer behavior help the marketer to set their marketing strategies. So it is the base of all marketing efforts.

Take a company Formulate 5 questions to understand consumer behavior of target consumer to satisfy them via your product /services.