Consumer Market and Buyer Behavior

Consumer market and buyer behavior
Objective
Factors Influencing the Consumer Behavior
1 Cultural
The culture has the strongest effect on the consumer buying behavior. As a child grows, he
starts learning different values, preferences, wants etc from his surroundings. This would
develop his unique buying pattern in the light of his cultural norms and values.
Culture
This is related to the culture itself.
Subculture
Within single culture, there is a set of subcultures that can have long lasting effect on
the consumer behavior.
Social Class
The social class is also influencing force that stimulates the consumer buying patterns.
For example the people belong to elite class has different buying preferences of the
same basic needs as compared to the lower class within the same culture or subculture.
2 Social
Social forces have also influenced effects on the buying patterns of a consumer. The
groups & family entitled a person different set of roles and statuses that become the
basis of his specific buying preferences. Social context contains
Groups
In general, people create different types of groups with each other for the satisfaction
of their social needs. These groups have strong effects on the buying behavior of
people (consumers). Some groups are called membership groups, whereas others are
called reference groups. The marketer tries to identify the reference groups of the
target consumers, because the consumers try to copy their reference groups regarding
the choice of different products, brands etc.
Family
Family has also deep rooted affects on the buying preferences of the consumers. The
roles of husband, wife and children in the process of buying are also critical to be
understood by the marketer.
3 Personal
Personal characteristics of consumers also influence their buying patterns like age,
occupation, economic situation etc. These personal elements are as follows.
Age/stage of life cycle
People belong to different ages or stages of life cycles make different purchases.
Occupation
The occupational status also tends the buying patterns of the consumers.
Economic situation
The income level, saving and interest rates are the determining factors that affect the
buying patterns of consumers.
Lifestyles
People prefer different lifestyles which in turn affect their buying decisions, even within
the same culture and social class.
Personality and Self Concept:
The personality consists of a set of personal characteristics like Self confidence,

adaptability, dominance, etc. that has influencing affects over the consumer decision
process.
4 Psychological
The psychological characteristics of a consumer also influence his buying behavior.

Every individual has different psychological characteristics which are as follow.
Motivation
Every person is motivated by some forces which are either biological (thirst, hunger,
etc.) or psychological or even social needs. All of these are important to be considered
while studying consumer behavior because buying behavior is affected by these forces.
Perception
Every person has different perceptions which give rise to different buying decisions.
Learning
Human behavior is influenced by learning. So learning also affects the buying patterns
of consumers.
Beliefs and Attitudes
Beliefs and attitudes are formed through learning and these have also special effects on the
consumer behavior of buying.
4 types of buying decision behavior

1. Complex Buying Behavior
In complex buying behavior consumer shows high level of involvement while purchase
and observe considerable differences among brands. Complex consumer buying
behavior is noticeable when the product price is high, risky, low quality after sale service
and so on. Its good example is buying a mobile or laptop. Both the products are
expensive and variety of brands. Consumers feel uncomfortable to decide for a specific
brand.
2. Dissonance Reducing Buying Behavior
In dissonance reducing buying behavior consumer involvement is very high due to high
price and infrequent purchase with less significance differences among brands. In this
case buyer purchases the product which is easily available. After the product purchase,
consumers may face dissonance post purchase behavior.
3. Habitual Buying Behavior

In Habitual buying behavior consumer involvement is low as well as low is no
significance among brands names. The good example is a lighter or match box. They
just go for it and purchase it, there is no brand loyalty. Consumers do not need
information regarding brand purchase, characteristics. For such brands tv commercials,
news papers and magazines build positive attitude of consumers towards.
4. Variety Seeking Buying Behavior

In variety seeking buying behavior situation consumer involvement is very low but there
are significance differences among brands. In this situation consumers perceive brand
switching. A good example is purchase is chips. In such case consumer purchase chips
and make results are consumption. Next time they purchase another brand just to
change the taste.
Buyer decision process

1. Problem/need recognition
This is often identified as the first and most important step in the customer’s decision process.
A purchase cannot take place without the recognition of the need. The need may have been
triggered by internal stimuli (such as hunger or thirst) or external stimuli (such as advertising or
word of mouth).
2. Information search
Having recognised a problem or need, the next step a customer may take is the information
search stage, in order to find out what they feel is the best solution. This is the buyer’s effort to
search internal and external business environments, in order to identify and evaluate
information sources related to the central buying decision. Your customer may rely on print,
visual, online media or word of mouth for obtaining information.
3. Evaluation of alternatives
As you might expect, individuals will evaluate different products or brands at this stage on
the basis of alternative product attributes – those which have the ability to deliver the
benefits the customer is seeking. A factor that heavily influences this stage is the customer’s
attitude. Involvement is another factor that influences the evaluation process. For example,
if the customer’s attitude is positive and involvement is high, then they will evaluate a
number of companies or brands; but if it is low, only one company or brand will be
evaluated.
4. Purchase decision
The penultimate stage is where the purchase takes place. Philip Kotler (2009) states that the
final purchase decision may be ‘disrupted’ by two factors: negative feedback from other
customers and the level of motivation to accept the feedback. For example, having gone
through the previous three stages, a customer chooses to buy a new telescope.
However, because his very good friend, a keen astronomer, gives him negative feedback, he will
then be bound to change his preference. Furthermore, the decision may be disrupted due to
unforeseen situations such as a sudden job loss or relocation.
5. Post-purchase behaviour
In brief, customers will compare products with their previous expectations and will be either
satisfied or dissatisfied. Therefore, these stages are critical in retaining customers. This can
greatly affect the decision process for similar purchases from the same company in the future,
having a knock-on effect at the information search stage and evaluation of alternatives stage. If
your customer is satisfied, this will result in brand loyalty, and the Information search and
Evaluation of alternative stages will often be fast-tracked or skipped altogether.
Buyer decision processes for new product

In the adoption process, there are 5 stages that a consumer goes through:
Awareness – consumer becomes aware of the new product but lacks information
about it
Interest – consumer seeks information about the new product
Evaluation – consumer considers whether trying the new product makes sense
Trial – consumer tries the new product on a small scale to improve his/her
estimate of its value
Adoption – consumer decides to make full and regular use of the new product
Model of buyer behavior

Marketing & Other Stimuli
Marketing Stimuli consist of the four Ingredients of Marketing that are product, price,

place and promotion whereas the remaining stimuli contain other macro environmental
forces e.g. technological, political, economical etc.
Buyer’s Black Box
All the marketing & other stimuli come inside the buyer black box which would result in
buyer response. This black box has two main components which are buyer
characteristics & buyer process of decision.
Buyer Responses
The last element of this model is represented by the response of the buyer regarding
the product category, brand category, dealer category, timing of purchase and the
amount of purchase.

Consumer Market and Buyer Behavior

Uploaded by

Copyright:

Available Formats

Consumer Market and Buyer Behavior

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Consumer Market and Buyer Behavior

Uploaded by

Copyright:

Available Formats

Consumer market and buyer behavior

Factors Influencing the Consumer Behavior

This is related to the culture itself.

Age/stage of life cycle

Personality and Self Concept:

The personality consists of a set of personal characteristics like Self confidence,

The psychological characteristics of a consumer also influence his buying behavior.

Beliefs and Attitudes

4 types of buying decision behavior

3. Habitual Buying Behavior

4. Variety Seeking Buying Behavior

Buyer decision process

Buyer decision processes for new product

Model of buyer behavior

Marketing Stimuli consist of the four Ingredients of Marketing that are product, price,

Buyer’s Black Box

You might also like