Consumer Behaviour
Introduction:
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 blends elements from psychology, sociology, social anthropology and economics. 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.
Here we are analyzing buying behavior of three customers. The products are of three categories: - low end, medium end and high end. For low end, i have chosen the product- Shampoo. For medium the product: - Dress kit and for high end i have chosen the product: - latest released Mobile (HTC m8). These feedbacks will show what are the thinking process and the perception of the consumers about these products and then analyzing these responses. Here we are analyzing the response of only three persons. The description of each analysis is given in the next page.
Here interview is taken for three people on three different products
Category A
A mundane product or service costing less than $5.
* Here product is PARK AVENUE BEER Shampoo.
* Bought by Mounika stays in Hyderabad.
* Made from beer and it is for normal hair.
* Frothy goodness for soft, silky hair, naturally.
* Product is purchased from Big Bazar as she wanted to buy some personal care products also.
* She got for half price in an offer.
* Customer is unsatisfied with previous shampoo brand she is using(Panteen).
Category B:
A product or service costing over $100 that performs a utilitarian function.
* Here product is Dress kit having a kurthi , patiyala, handbag, earring, necklace.
* Price INR 9000
* Bought by Neeraja stays in Hyderabad.
* This dress kit is purchased for some occasion like Ugadhi Festival.
* This product performs Utilitarian function as accessories like handbag can be used for some other dress, other things like ear rings can be wear on some other dress and on some other occasion and kurthi can be wear on leggings.
* Dress kit is purchased from Online Shopping site as designs and colors were very unique and price was reasonable to her.
Category C:
A product or service costing over $100 that, the customer feels, reveals something about the kind of person she or he is.
* Product is mobile
* Brand is HTC One (m8)
* Bought by Srikanth stays in Australia
* Bought from Vodafone store
Customer has purchased this product as it reveals his personality as he used to buy latest, new design product having extra features, that reveals his status and behave according to his reference group (his friends)
Relating with consumer behavior concept
Category A: PARK AVENUE BEER Shampoo
She buys Park Avenue beer shampoo as she is unsatisfied with earlier product that is not satisfying her current need. So here failure of satisfying earlier need motivate her to use substitute.
She is defector on the basis of consumer satisfaction as she is buying new brand when she find better qualities, features in it as compared to previous one(Dove).
Attitude toward object: Here attitude toward object is important. As she buys Beer shampoo because she is attracted toward product features and presence
She is has rational motives as she is looking for benefits at the same cost she is paying for previous brand or older brand.
Here she wants to buy product similar to her friends so behaves similarly according to her reference group(friends)
Maslow Hierarchy Theory:
Her need that the product is satisfying is basic need as she clearly mention this is the product comes in basic need. It also considers it as safety need-safety from hair fall, damage, and oily hair.
She also uses Tri-component model in which she gets information through internet and word of mouth (friends) that is cognitive component and she gets emotion (happy) that is affective component and she decides to purchase Park Avenue beer shampoo based on information and emotion that is conative component.