Presentation on theme: "Consumer Behavior & Psychology. Definition Consumer buyer behavior refers to the buying behavior of final consumers- individuals and households that buy."— Presentation transcript:
Definition Consumer buyer behavior refers to the buying behavior of final consumers- individuals and households that buy goods for consumption- Kotler All these final consumers make up the consumer market
Model of Consumer Behaviour How do consumers respond to various marketing efforts the company might use?
Complex Buying Behaviour Type of Product Expensive Risky Purchased infrequently Highly self-expressive Brand Must understand the information gathering and evaluation behaviour of buyers Need to help buyers learn about the product –class, attributes and relative importance Describe benefits – Print media Motivate stores sales people and buyers acquaintance to influence the final brand choice eg: Electronics
Dissonance-reducing Buying Behaviour Type of product Expensive Risky Purchased infrequently Highly self-expressive Brand Provide a good price Offer convenience Mitigate dissonance - provide after sales communication with evidence and support to help consumers feel good about there product eg; Carpets, Furniture
Habitual Buying Behaviour Type of product In expensive Frequently Purchased Familiar/ loyal Brand Provide a good price Offer Promotions Create top of mind – use colors symbols (TV led advertising) eg; personnel care products
Variety Seeking Buying Behaviour Type of product In expensive Frequently Purchased Familiar Large choice/variety Brand Market Leader – create habitual behaviour Dominating shelf space Stocking up Reminder advertisements Challengers Offers lower price/special deals Coupons, samples Advertising that presence reason for trying something new eg; confectionary