Principle
Develop interdisciplinary knowledge of consumer behavior from the vantage point of marketing organizations and end consumers - Obtain an understanding of basic theoretical terminology and concepts as well as research insights for solving marketing challenges in dynamic business environments - Develop competence for team work, analytical, critical and creative thinking in applying theoretical and empirical insights for the purpose of business decision-making - Upgrade the knowledge gained from the Principles of marketing course and prepare the students for future study of strategic marketing
Theory
About Consumer behaviour
The word consumer behaviour can be defined as the decision making process and physical activity involved in acquiring ,evaluation using and disposing of good and services.
ROLES OF CONSUMER BEHAVIOUR
¤ Initiator
¤ Influencer
¤ Buyer
¤ User
▪ Initiator :-
The individual who determine that certain need or want is not being fulfilled and purchase a product to fulfilled and there needs
▪ Influencer :-
A person who by some intentional word or action influences the purchase decision .
▪ Buyer :-
The buyer who actually make purchase fulfill there need in terms of family transaction .
▪ User:-
User are those who purchase the product or using the product .
To understand the consumer behaviour research are made so that consumer satisfaction and can be done .
Reason for studying Consumer behaviour
The most important reason for studying Consumer behaviour is to understand the consumer needs and requirements because if we are not aware we can’t judge the consumer behaviour consumer decision are affected by there behaviour .Therefore, Consumer behaviour is said to be and applied decision .This leads to be Micro perspective and societal perspective .
Marketing strategy and consumer behaviour
Marketing Analysis
¤ Consumer
¤ Company
¤ Competition
¤ Condition
Marketing Analysis are to understanding the consumer condition ,Competitor of the company .A consumer is anyone who engages himself in physical activities or evaluating, Acquiring ,Using or providing goods and services .
Consumer :- To understand what consumer need to satisfaction and to fulfill there need for that market research is done to get ideas so that on that basis changing are advertisement is also streamlined for the consumer satisfaction .
Company :- The company make internal and external analysis so that feedback can be given to industry as per consumer so that they can maintain the quality so that they can analysis there sale of the firm and grows up by providing better quality to consumer so that consumer can full fill there need as per there requirements.
Competitor :- In the analysis of the market there are competitor some product which use to use in regular basis and for that in demand is also more the industry need to give good supply in the market so that they can full fill there customer needs .Therefore there are lots of retailer in market to attract consumer towards there consumer retailer some time need to make sale so that he /she can rotate the turnover and also grow there firm sale competitor is one the major problems for there firm for that market research is also done so that competitor problem can be sort out by providing fix rate .
Condition :- The condition under which the forms are operating have also to be serious considered .The factor to be studied are the economy , physical environment , government technological etc . These effect the consumer needs as per the environment and it’s pollution may lead to use and innovation of safer product people are health conscious and are concerned with there safety. This leads to the formulation of different marketing strategy .
Marketing segmentation
¤ Identify product related needs
¤ Select target market
¤ Describe each Group
Market segmentation are lead to be by Makeing segmentation .The market is divided into different segment to cover the market
Identify product related needs :- To identify product related needs market segmentation make identification of product by providing name so that consumer can easily aware and identify the product to fulfill there needs.
Select Target market:- This terms is used to make research in area wise to know the consumption of product in particular area and also to know what’s the consumer need this help to target the market to achieve there goals .
Marketing strategy
¤ Product
¤ price
¤ Distribution
¤ Communication
¤ Services
Marketing strategy one of the important part to know the consumer strategies are formulate to provide superior customer value in formulating marketing strategy .
Product :- product is anything which offered to customer as per the customer requirement and can be satisfy a need and has a value .
Price :- price is amount of money one must pay to obtain the right use of the product .
Distribution :- The good can be distributed by many channels .These could be wholesaler ,retailer or by direct selling .Distribution out
Published Date
04 Jun, 2018
BY- SHIVAM GUPTA
MBA Program