Marketing Management
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Details
Textbook:
Pages : 500;
Paperback;
210 X 275 mm approx.
Workbook:
Pages :
282; Paperback;
210 X 275 mm approx, Sample Applied Theory Questions
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Textbook Price: Rs. 900;
Workbook Price: Rs. 700;
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Detail Table of Contents
Understanding Consumer Buying Behavior : Chapter 5
SUMMARY:
Studying the consumer buying behavior is a very complex process, as it involves not only the economic factors but also the emotional factors. However, marketers need to study the consumer behavior, as it helps them position their products better and develop effective marketing strategies.
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Buying roles and buying decision constitute consumer’s decision-making behavior. A customer can adapt various buying roles like initiator, influencer, decider, buyer, preparer, maintainer and disposer in purchasing and using the products. Buying behavior helps marketers learn the intensity and degree of involvement of customers in purchasing the products. Customer buying behavior is broadly classified into three types. Extensive problem solving buying behavior is exhibited when a customer buys high involvement, expensive and less frequently purchased products. Consumers are involved in routine problem solving decision-making process, when they purchase routinely purchased, low cost products. Variety seeking behavior is seen when customers purchase low-involvement products.
Customers usually go through five stages in arriving at a purchase decision, though it might not be so in all the cases. In the first stage, the customer identifies an unsatisfied need in him. In the second stage, customers collect the information about the product and available brands through personal sources, commercial sources, public sources or experiential sources. In the third stage, the customers evaluate all the alternatives with the help of available information. In the fourth stage, the customer makes a purchase decision. And finally in the fifth stage, he experiences post purchase satisfaction or dissatisfaction.
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Post purchase usage and disposal of the product is also of equal importance to the marketer, as it can save cost and time of producing as well as help in protecting the environmental equilibrium.
