Importance of consumer behaviour

The study of consumer behaviour helps marketers and experts to recognize and forecast and predict the purchase behaviour of the consumers while they are purchasing a product. The study of consumer behaviour helps the marketers not only to understand and consider what consumer's purchase, but helps to understand why they purchase and needs and wants of consumers.

1. Consumer Behaviour ANAND KAPUR

2. Several facets of consumer behavior exist, such as: How a consumer feels about certain brands, products, or services What motivates a consumer to pick one product over another and why What factors in a consumer's everyday environment affect buying decisions or brand perceptions and why How consumers make decisions in groups or when they are alone WHAT IS CONSUMER BEHAVIOUR? consumer behavior is a psychologically-based study of how individuals make buying decisions; what motivates them to make a purchase

3. Why is Consumer Behavior important to Business ? 76% 80% of consumers expect companies to understand their needs and expectations organizations that lead in customer experience out performed laggards on S&P 500 index by

4. IMPORTANCE OF CONSUMER BEHAVIOUR Importance of Consumer Behaviour Consumer Differention Retention of Consumers Design Relevant marketing campaign Predicting Market Trend Competition Innovate New Products Stay Relevant in the Market Improve Customer Service

5. DO THE RIGHT THING AS MARKETERS TO BUILD TRUST. Model of Consumer Behaviour

6. Case Studies Importance of Consumer Behaviour Some of the interesting case studies to understand the Importance of consumer behaviour

7. Number Fever: The Pepsi Contest That Became a Deadly Fiasco Decades ago, a marketing stunt promised Philippine soda drinkers a chance at a million pesos. But an error at a bottling plant led to 600,000 winners—and to lawsuits, rioting, and even deaths. PEPSI 349 NUMBER FEVER SCANDAL

8. In 1992, Pepsi ran a marketing Campaign called Number Fever to boost sales. This campaign soon turned into National Riot PEPSI 349 NUMBER FEVER SCANDAL Pepsi was worried about losing Market Share in the Philippines so they decided to launch this campaign. Classic lottery Gimmick . Man with lucky number on his bottle cap gets a million pesos The only mistake was this lucky number (349) was accidently printed over 800,000 caps .

9. When Pepsi realised that what they had done, it was too late . They now owned the winners a combined total of over $10 Billion . Thousands upon Thousands of Filipinos demanded their money and took to the streets as the campaign soon turned into violent riot . PEPSI 349 NUMBER FEVER SCANDAL Pepsi refused to give those people many and many people turned violent , destroying many of their trucks and even kill a few people . Soon, Pepsi recieved thousands of Lawsuits. It took almost 15 years to dissolve all cases and end the dispute, resulting in millions of dollars lost

10. When they started, they needed a low budget way to increase brand awareness out there. They choose a very simple route.They just went to every single trash can in London and fillled with empty Red Bull cans. This created a perception that there was massive demand for this unkown product,and the rest is history Genius Marketing By Red Bull Today,this Bull is dominating it's niche, is the brand leader in sector,and number one for top of head recognition. Whoever thought up this idea deserves Medal RED BULL HAS A UNIQUE AND WIERD PRODUCT. THE TASTE IS UNFAVOURABLE AND THEY WANT TO SELL IT AT A HIGHER RATE

11. DETTOL Vs SAVLON Many startups now a days feel frustrated why their product is not a success inspite of solving the burning problem of the consumers . A SMALL STORY OF DETTOL AND SAVLON IN INDIA DURING EARLY 1990'S

12. Savlon's tagline was " healing without hurting ". It hoped for a mega success. The result was completely different . The Savlon launch bombed. Dettol came up with a counter punchline " it hurts when it works " & consumer believe Dettol. In early 1990's Dettol was a household name, the most dominant brand in Indian market. However it is used to have a pungent smell & caused burning sensation . As a child, can recall feeling scared even with the mention of Dettol applied on wound. Savlon got rid of these 2 issues when launched , it had good smell & no burning sensation. It had solved these 2 major problems and as per research was a better germ killer than Dettol. DETTOL VS SAVLON BRAND MARKETING AND CONSUMER BEHAVIOUR

13. Gillette GILLETTE CASE STUDY The Gillette Company has a long history of being 'the first to market...' in its own areas of operation.

14. What “Mach” are we at now with Gillette? They keep adding blades and go from MachX to MachX+1 every few months as if the physics of sound doesn’t matter, isn’t it? GILLETTE CASE STUDY

15. Gillette makes the Guard razor, which accounts for two of every three razor now sold in India But in 2002, its predecessor the Vector was a massive flop after intense focus grouping with MIT students rather than India residents 'A-ha moment': Developers quickly learned to better understand the exploding market GILLETTE CASE STUDY

16. GILLETTE CASE STUDY Gillette did the market research, so what went wrong? Here’s the catch – they didn’t do the market research in India! Gillette tested the product with Indian Students in MIT and hence missed one crucial insight about shaving habits in India. A large part of Indian men don’t have access to running water while shaving, so unclogging the Vector razor isn’t possible. Yeah, a rather face-palm moment for Gillette marketers, for sure.

17. Gillette did the market research, so what went wrong? When Gillette launched its Vector razor in India, however, things weren’t moving at such a high velocity. Gillette did some market research before launching this razor. They found out that Indian men had longer and thicker hair than Americans . So, they included a plastic piece that could slide down in order to unclog the razor while shaving. Vector was launched but didn’t do well. GILLETTE CASE STUDY

18. The next time Gillette focussed on the Indian market, they did things the right way. 20 people from their headquarters spent 3,000 hours with more than 1,000 consumers in their homes. The result – Gillette Guard, one of the bestsellers in India. It consisted of just a single blade, to deliver safety rather than a smooth shave, focussing on what Indian men really needed. THAT is the power of doing market research the right way! GILLETTE CASE STUDY

19. ANAND KAPUR MBA(TYC) SEMESTER-III Thank You WE WANT TO HEAR FROM YOU!