Page 71 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes 1. The Consumer is the King.
2. The Consumer Behaviour can be known.
3. The consumer’s behaviour can be influenced.

Why Study Consumer Behaviour?

1. It will help to segment the market usefully
2. It will aid in development of an effective marketing mix

3. It will help to assess new market opportunities concept is unlikely to get discarded for a
very long time to come, because there would always be products and populations of such
a nature that some companies would feel.

What Influences Consumers’ Buying Decision Process?

Consumers’ buying behaviour is influenced by cultural, social, personal and psychological
factors. The cultural factors exert the broadest and deepest influence.

Figure 3.1: Factors Influencing Consumer Buying Behaviour

Cultural Factors Social Factors
Culture Reference
Buying Decision Process

Problem Recognition

Information Search

Identification & Evaluation of
Alternatives

Personal Factors Purchase decision Psychological
Age Factors
Motivation
Post Purchase Behaviour

3.3.2 Buying and Purchase Decision Process

Buyer decision processes are the decision making processes undertaken by consumers in regard to
a potential market transaction before, during, and after the purchase of a product or service.
Markets have to go beyond the various influences on buyers and develop an understanding of
how consumers actually make their buying decisions. Specifically, marketers must identify who
makes the buying decision, the types of buying decisions and the Steps in the buying process.

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