What is Consumer Behaviour ?
What is Consumer Behaviour?
What is the meaning of consumer behaviour? What is consumer behaviour? Nature of Consumer Behaviour
Consumer behaviour is the study of how individuals, groups, or organizations select, buy, use, and dispose of ideas, goods, and services to satisfy their needs and wants or it refers to the study of consumer's behaviour and the processes they use to choose (consume), and dispose of products including consumers’ emotional, mental, and behavioural responses.
What is consumer behaviour?
Consumer behaviour is the study of individuals, groups and organizations and how they select, buy and use products and services.
The study of consumer behaviour includes:
How consumers think and feel about different alternative brands, products, services, and retailers)
How consumers select between different alternatives available to him
The behaviour of consumers while researching and shopping for products and services
How consumer behaviour is influenced by their peers, culture, and media.
How marketing campaigns/ads can be adapted and improved to more effectively influence the consumer behaviour
Nature of consumer behaviour:
Complex in Nature
Consumer behaviour is complex in nature as all persons have different needs and want. Each individual has their own unique needs and accordingly, they behave differently in the market.
It is a very difficult task for marketers to analyse and recognise the needs and patterns of each individual. Therefore, it becomes a complex job for the business to analyse each consumer’s needs and targets them accordingly.
Consumer behaviour is a systematic process consisting of a series of steps involved in purchasing decisions of consumers. It is related to how consumers make their purchasing decision. The buying decision of consumers involves various steps which are: Need identification to buy the product, searching for information related to the product, making a list of alternatives and evaluating different options available, finally making a buying decision and at last post-purchase evaluation done by the marketer.
Keeps on Changing
Consumer behaviour is always changing and does not remain constant. It keeps on changing with the time which is due to the following changing factors: age, gender, income level, qualification level of consumer.
Same products or services may be liked by the same consumer who once hated them earlier. For example, Kids have more interest in funky products or toys during their childhood but as they grow up as teenagers they lose all their interest.
The way in which the consumer spends and makes buying decisions reflects their status. Not only the behaviour of the consumer is influenced by their status but their personality also reflects their status in society.
People who buy luxury items are considered rich and high-status people by society. These high prices of the goods and services add pride to their personality.