Consumer behaviour application

The behavior of the consumer to by the products..........

1. CONSUMER BEHAVIOUR APPLICATION PRESENTED BY AYISHA KOWSAR. A

2. INRODUCTION Consumer behavior may be defined as the behavior that customers display in searching for, purchasing, evaluating and disposing of produces, services and ideas which they except will satisfy their needs…………………..

3. Cont………………. Consumers : The ultimate users of goods & services……….. Consumer Behavior : Buying behavior of ultimate users………………..

4. DEFINITION “The study of individuals, groups or orgs & the process they use to select, secure, use & dispose of products, services, experiences or ideas to satisfy needs & impacts that these processes have on the customer & society…..

5. IMPORTANCE The Consumer is king. Only the customer can fire us all. People are different. To make better strategies for increasing profits. Consumer behavior study is necessary to make pricing policies. To avoid future market failure.

6. CHARACTERISTICS OF CB It is a process where consumer decided what to buy, when to buy , how to buy, where to buy & how much to buy……. It comprise of both mental and physical activities of consumer………….. Consumer behavior is very complex and dynamic which keeps on changing constantly……………. Consumer behavior starts before buying and even after buying………..

7. Application of Consumer Behavior Marketing Strategy: Sales promotion, advertisements etc…… For eg: afternoon snacks advertisements. Social Marketing: To get consumers attention on product……… For eg: by graphic pictures.

8. Cont……………. Public Policy: Involves getting ideas across to consumers rather than selling something…….. Better Consumers: Studying consumer behavior sensitize consumers to be vigilant consumer…..

9. APPLICATION OF CB WITH MARKETING PROSPECTS………….. From the marketing point of view understanding consumer behavior is crucial to successful delivery of firms offering in the market place. Market-Opportunity Analysis: This involve examining trends and conditions in the marketplace to identify consumers needs and wants that are not being fully satisfied. Target Market Selection: This has to do with identifying distinct groupings of consumers who have unique wants and needs and the selection of segments that matches the firms strength and offer better opportunities.

10. Cont………….. Marketing- Mix Determination: This involve developing and implementing a strategy for delivering an effective combination of want satisfying features to consumers within target market. Marketing Strategy: Understanding of consumer behavior is needed in strategic marketing activities. This is because marketing strategies and tactics are based on explicit or implicit beliefs about consumer behavior.

11. ADVANTAGES Customer oriented. Quality products at reasonable price. Other benefits (discounts, buy 1 get 1 free offer, customers become the winner).

12. DISADVANTAGES Limited buyer interest. Social and Cultural influence. Non sequential approach. Poor information.