Page 70 - DMGT408DMGT203_Marketing Management

Unit 3: Consumer Markets and Consumer Buying Behaviour

Notes

Caselet The Indian Consumer

he Indian consumers are noted for the high degree of value orientation. Such
orientation to value has labeled Indians as one of the most discerning consumers in
Tthe world. Even, luxury brands have to design a unique pricing strategy in order to
get a foothold in the Indian market.
Indian consumers have a high degree of family orientation. This orientation in fact, extends
to the extended family and friends as well. Brands with identities that support family
values tend to be popular and accepted easily in the Indian market.
Indian consumers are also associated with values of nurturing, care and affection. These
values are far more dominant that values of ambition and achievement. Product which
communicate feelings and emotions gel with the Indian consumers.
Apart from psychology and economics, the role of history and tradition in shaping the
Indian consumer behavior is quite unique. Perhaps, only in India, one sees traditional
products along side modern products. For example, hair oils and tooth powder existing
with shampoos and toothpaste.
Source: edms.matrade.gov.my/...nsf/.../PMSChennai05-ConsumerBehavior_1.doc

3.3 Buyer or Consumer’s Behaviour

A product or service should have a consumer to buy it. Thus, it is very necessary to make a study
on the behavioural aspect of the consumer i.e., there must be reasonable answer to the following
questions:
1. What does a consumer buy?

2. Where from does he buy?
3. When does he buy?
4. How much does he buy? and

5. Why does he buy?
Though the first four questions can be answered by carrying out statistical data based market
research known as ‘retail audit’, ‘prescription audit’, etc., the answer to the last question is
indeed a very difficult one and can be answered by carrying out ‘motivational research’.
Nevertheless the answer to the ‘Why’ of consumer behaviour is the most important factor to any
organisation while designing a successful product/service and its marketing strategy.
A consumer is a person who purchases goods and services for his own personal needs. Consumer
Behaviour can be defined as those acts of ‘individuals’ which are directly involved in making
decisions to spend their available resources (time, money, energy) in obtaining and using goods
and services.

3.3.1 General Characteristics of Consumer Behaviour

The reason for studying consumer behaviour lies in its general characteristics, as it may affect
present day business operation. These characteristics can be described as below:

LOVELY PROFESSIONAL UNIVERSITY 63