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Consumer behavior - the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.
discipline its traditional focus have included social stratification, social class, social mobility, religion, secularization.
Marketing practice designed to influence consumer behavior which influences the firm, individual, & society All marketing decisions and regulations are
Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives.
NO.
4Ps
Marketing Environment
Consumer Psychology
Buyer Decision
4 Ps
Product
Price
Place
Promotion
Marketing Environment
Economic
Technological
Political
Cultural
Culture is the fundamental determinant of a person wants and behavior honesty & integrity, respect &care for elders, hard work are typical of Indian value system Sub cultures include religions, racial groups, and geographic regions
Social stratification: All human societies exhibit this trait which often takes the form of social classes.
Social Class Social classes are economic or cultural arrangements of groups in society relatively homogeneous which are hierarchically ordered In India. They have distinct brand and product preferences. Indian marketers use the SEC classification which depends on a combination of education and occupation of the chief wage earner.
Reference Groups
Opinion Leaders
Family Members
Consumer Characteristics social Reference groups are people to whom an individual looks as a basis for self-appraisal or as a source of personal standards.
Primaryfamily,friends,neighbours
Aspirational
Dissociative
Opinion Leaders
Opinion leaders are individuals who exert direct or indirect social influence over others.
Influencer
User
Initiator: the person who first suggests or thinks of the idea of buying a particular product or service. Influencer: a person whose views or advice carry weight in making the final buying decision Decider: the person who ultimately makes the final buying decision or any part of it Buyer: the person who makes the actual purchase User: the person who consumes the product or service