Consumer Behaviour and its Impact on Buying Decisions

Consumer behaviour Marketing
segmentation
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Explain two renowned theories and buying behaviour of consumers.........................................3
Determine the various tools used by marketers which helps in influencing the consumer
buying behaviour.........................................................................................................................4
Demonstrate the importance of consumer perceptions, attitudes and culture impact on the
buying behaviour of customers...................................................................................................5
Evaluate how business persuades its customers to share data and its impact on consumer
behaviour.....................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
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INTRODUCTION
Consumer behaviour is the study of behaviour and attitude of individuals toward
selecting and buying the products and services with the motive of satisfying their needs and
desires (Chaney, Sanchez and Maimon, 2019). Basically consumer behaviour is the action of
individuals in the marketplace that is products and services should be able to meet their
requirements. There are various factors which influences the behaviour of consumers that are
price, product, packaging, design of product and many more. The behaviour of consumers is
non-static in nature that is it changes frequently on the bases their needs and on the bases of
nature of products. Moreover the income status, education level and living standards of
individuals are responsible for changes in their behaviour and helps in determining their
purchasing power. The nature and behaviour of all customers is not same that is differ from
person to person on the basis of their lifestyle and culture. The topics covered in the report are
the renowned theories and its multi faceted nature on the buying behaviour of customers.
Various tools used by marketers to influence consumers, use of contemporary products and
services and its impact on consumer buying behaviour. Example of well established business unit
and how it influence its customers.
MAIN BODY
Explain two renowned theories and buying behaviour of consumers
Theories of consumer behaviour helps the marketers in understanding the nature and
behaviour of consumers (de Oliveira and Sousa, 2020). With the help of this they would be able
to develop their products and services according to preferences and desires of consumers.
Consumer behaviour theories provides a unique characterises which helps in understanding the
psychological process of consumers and their consumption pattern.
Marshallian Economics- This theory was founded by Alfred Marshall and according to
his point of view the consumer behaviour in the process of buying products and services is
dependent on the level of satisfaction they gain. This theory has provided several hypotheses to
marketers that are if the prices of product are kept low then the chances of sale are high. Whereas
in case of substitute goods if prices are kept low then sale of substitute product is high.
Furthermore this theory provide a way to marketers to understand the nature and behaviour of
consumers at the time when they are making purchases.
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