Consumer Behavior is the study of the behavior of the consumer's ways to satisfy their needs by prioritizing, buying and use of the product. It is influenced by cultural factors, social factors, and personal factors.
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CONSUMER BEHAVIOR1 Consumer Behavior Supreen Chahal MBA 5314: Marketing Management Dr. Jim McCleskey February 17, 2019
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CONSUMER BEHAVIOR2 Consumer Behavior It is the study of the behavior of the consumer’s ways to satisfy their needs by prioritizing, buying and use of the product. According to Kotler and Keller consumer behavior influenced by: Cultural Factors Social Factors Personal Factors (Kotler & Keller, 2016) Cultural Factor: Culture is the essential factor of an individual's needs and conduct. Further, culture has smaller subcultures in order to know more about the individual specifications. Cultural subclasses are nationalities, racial groups, religions and geographical locations.Culture and sub culture has significant influence on consumer buying behavior. For instance, child bringing up in western countries like United States of America or Canada is exposed to values such as freedom, external comfort and individualism .Whereas, people growing in other countries might have unlike values, beliefs and rituals and relationship to others. (Kotler & Keller, 2016) Social classesare moderately homogeneous and continuing divisions in a general public, progressively requested and with individuals who share comparative qualities, interests, and conduct. Members of different social classes illustrate different brand preferences in distinct areas There are seven ascending levels of social classes in the United Nation of America are following mentioned: 1.Lower lowers
CONSUMER BEHAVIOR3 2.Upper lowers 3.Working class 4.Middle class 5.Upper middles 6.Lower uppers 7.Upper uppers . (Kotler & Keller, 2016) Social Factors:Social factors further sub divided into: Reference group Family Social roles and status . (Kotler & Keller, 2016) Reference Groups These groups have directly or indirectly impact on the behavior and attitude of the person.This group has further sub divisions which are primary group and secondary group. Primary Group includes people who have continuous and informal interaction for instance friends, family and colleagues. Whereas, Secondary group are people have more formal interaction such as Professional and religious groups. Aspirational Group are the one who are not yet the part of the group but are tend to join the group. Dissociative groups are the groups with behavior the consumer rejects. Consumers essentially not belong in this group however they trust the recommendations or information of the members in the group.("Buying Dynamics of Consumers and Businesses by Kotler and Keller - Noteshelf", 2019) Family Group:There are two types of family in the buyer’s family: 1.)Family of orientation: This is the weak family category; includes parents and siblings.
CONSUMER BEHAVIOR4 2.)Family of procreation: This is the strong family category; includes children and spouse. . (Kotler & Keller, 2016) Personal Group:Personal attributes that impacts buyers decision are Age and lifestyle Occupation and income Personality and self-concept. (Kotler & Keller, 2016) To conclude, the study of consumer behavior helps marketers to improve their marketing strategies by knowing the unmet needs of the consumer. In addition, it enables companies to know the consumption pattern of their consumers. Furthermore, it allows identifying the influential factors whether they are internal or external in order to build a relationship with the customers. Once customer behavior is recognized, companies create products and services accordingly that dispense the consumers with more values. Firms who have met the unmet needs of their consumers and have connected with their clients successfully have seen immense cash flow and profit.
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CONSUMER BEHAVIOR5 References Buying Dynamics of Consumers and Businesses by Kotler and Keller - Noteshelf. (2019). Retrieved from http://noteshelf.org/buying-dynamics-consumers-businesses-kotler-keller/ Kotler, P., & Keller, K. (2016).A framework for marketing management(pp. 69-72). Upper Saddle River, New Jersey: Pearson Education Inc.