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The Management of PROCTER & GAMBLE once stated : ” Our business is based on understanding the consumer and providing the kind of products that the consumer wants. We place enormous emphasis on our product development area and our marketing area, and on our people knowing the consumer.” The human mind is the most complex entity in the whole universe as it is very unpredictable how a person would behave in or react in a particular situation.
A person’s behavior changes from place to place and situation to situation or, say it is very inconsistent. The person when has a need, is willing and able to satisfy the need is called a CONSUMER. The consumer would go different ways to satisfy it’s needs depending on his social, cultural, family, economic and educational background. Consumer is the principle a priori of business. The efficiency with which a free market system of enterprise operates, depends upon the extent of consumer understanding possessed by the business community. A business community that is ignorant of consumer preferences cannot possibly fulfill it’s obligations in a meaningful and responsive manner.
So here comes the need to prepare project report onCONSUMER BEHAVIOUR. Consumer Behavior is broadly defined as “the behavior the consumer displays in searching for, purchasing, using and evaluating products, services, and ideas which they expect will satisfy their needs.” Consumer Behavior is not only the study of what people consume, but is also the study of who the consumers are, why they consume, how often they consume, and under what conditions they consume.
CONSUMER BEHAVIOUR refers to the buying behavior of ultimate consumers, those persons who purchase products for personal or household use, not for business purpose.
There are Psychological Theories that help us to understand and predict the effect of all external and internal factors on a consumer. External factors include Culture, Society, Reference group and family etc. Internal factors comprise in a consumer mind and how consumers learning, memory, attitude, personality, lifestyle and motivation levels effect consumer behavior. What would initiate a buying process and how a buying decision would end is all covered under the study of consumer behavior. This all further helps relate product / service, price and promotion etc. with consumer behaviour. Thus organisation can place marketing mix so as to propogate their product/services.
The present study on SHAMPOO is also trying to find Consumer Perception about different features of Shampoos and how Price, Environment, Packaging, Quantity, Easy Availability and Variety are affecting the sale of Shampoo’s.
In psychographic segmentation buyers are divided into different groups on the basis of lifestyle and \ or personality. People within the same demographic group can exhibit very different psychographic profiles. These psychographic bases are often difficult to measure, but they offer potential rewards in terms of providing management with a more relevant basis for differentiating between segments of a market.
People exhibit many more lifestyles than are suggested by the seven social classes. People’s product interests are influenced by their lifestyles. In fact the goods they consume express their lifestyles. Marketers are increasingly segmenting their markets by consumer lifestyles. Companies making cosmetics, alcoholic beverages, and furniture are always seeking opportunities in lifestyle segmentation.
Personality affects the consumption of many goods, particularly those consumed publicly. An aggressive personality for example, may be reflected in the choice of ostentatious clothing, furniture, and automobiles. Preferences are frequently so different that it is impossible to serve all personality types with the same product or brand. A recognition of important personality types can help management “position” it’s towards a profitable segment or segments.
Marketers have used personality variables to segment markets. They endow their products with brand personalities that correspond to consumer personalities.