Page 85 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes Questions
1. A manufacturer of personal care products in the premium category wants to develop
various products. Which of the above types should the manufacturer target? Explain.

2. How is the above-mentioned information likely to benefit a marketer in selecting
marketing communications?
3. Which of the above-mentioned segments are likely to respond to sales promotion?
Explain.

3.5 Summary

Consumer Behaviour is the study of why, how, what, where, and how often do consumers
buy and consume different products and services. It tries to understand the process followed
by consumers in making product and brand choices.

The consumers follow a decision process characterized by problem recognition,
information search, alternative evaluation, purchase decision and post-purchase behaviour.
Consumers also play various roles in the purchase process, namely the role of initiator,
influencer, gate-keeper, decider, buyer, user, preparer, maintainer and disposer in the
context of a purchase decision.

An individual consumer’s decision to purchase a product is influenced by a number of
variables, which can be classified into four categories, namely cultural, social, personal,
and psychological factors.
Cultural factors have a broader consumption context through which the consumer learns
the significance of consumption.

Sub culture, social class, nationality and religion are some of the cultural issues influencing
the decision making process. The social factors include family, reference group, roles and
status of individual customer in influencing his consumption behaviour. Consumers differ
from one another in terms of their sex, age, education, income, family life-cycle stage,
personality and lifestyle and other personal characteristics, which influence their buying
behaviour.
The needs of elderly consumers are different from those of young consumers. Newly
married couples have needs, which are totally different from older retired married couples.
Understanding the consumer behaviour of the target market is the essential task of
marketing managers. Consumers differ fundamentally in income, education level, taste
and age. In the past marketers had close and direct contact with the consumers, which
enabled them to understand consumers.

Consumer is the king around whom the entire system of marketing revolves. If anybody
makes the marketing program ignoring the consumer preferences, he probably will not
achieve his ultimate objective.

Therefore, the marketer must know more and more about the consumer so that the products
can be produced in such a fashion as to give satisfaction to them. The government also
plays a vital role in protecting the interest and rights of the consumers.

78 LOVELY PROFESSIONAL UNIVERSITY