(Market Survey of Reebok, Nike, Adidas, Liberty Shoes etc.)
The term consumer behavior refers to the behavior that consumers display in searching for, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs. The study of consumer behavior is the study of how individuals make decisions to spend their available re- source (time, money, effort) on consumption related items. It includes the study of what they buy, why they buy it, when they buy it, where they buy it, how often they buy it and how often they use it.
Information about the pattern of consumption in various segments of society and dynamics of consumer behavior are central to the understanding for developing new concepts in marketing. The essence of modern marketing concept is that all elements of business should be geared towards identifying and satisfying the needs of the consumers.
The consumer’s decision to purchase or reject a product is a moments of final truth for marketer. It signifies whether the marketing strategy has been wise, insightful, and effective, or whether it was poorly planned and missed the mark. Thus, marketers are particularly interested in consumer’s decision-making process. We would be discussing a simple model of consumer decision making that emotional consumer. The modal, has three major components:
The input component draws on external influences that serve as sources of information about a particular product and influence a consumer’s product-related values and behavior. Chief among these input factors are the marketing – mix activities of organizations that attempt to communicate the benefits of their products and services to their potential customer, and the no marketing socio-cultural influences, which, when internalized, affects the consumer’s purchase decision.
The process component of the modal is concerned with how consumers make decisions. The psychological field represents. The internal influences (motivation, perception, learning, personality, and attitudes) that effect the consumer’s decision making processes.
Pre-Purchase Activity: After the problem is identified, the buyer indulges in pre-purchase activity. It is under stood that need is a father of a deed.
There generally remains a time lag when a person thinks to buy and the actual incidence of buying. During this time, the person is energized and is likely to be influenced by various factors. Need arousal drives the consumer to collect information about the required product. He first indulges in internal search, scans his psychological field so as to recollect of retrieve any information or past experience related to particular need. His psychological field comprises of his past learning. Perception, personality and past experience. If he is not satisfied he then goes in for external search and looks for various sources of information. The degree of perceived risk can also influence this stage of the decision process. In high – risk situation they are likely to engage in complex information search and evaluation tactics.
Of key interest to marketer are the various sources of information that the consumer will return to and the relative influence that they will have on his buying behavior.
When evaluating potential alternatives consumers tend to use two types of information:
1. A “list” of brands from which they plan to make their selection (the evoked set), and
2. The criteria they will use to evaluate each brand.
The criteria consumers use to evaluate the brands that constitute their evoked sets usually are expressed in terms of important product attributes. Consumers use certain procedures or rules to facilitate a choice among multi – attribute objects. Consumers’ decision rules have been broadly classified into two major categories compensatory and non compensatory decision rules.
An understanding of which decision rules consumer apply in selecting a particular service or product is useful to marketers concerned with formulating a promotional programmed.
The output portion of consumer decision – marking model concerns two closely associated kinds of post decision activity. Purchase behavior and post purchase evaluation. The objective of both activities is to increase the consumer’s satisfaction with his/her purchase.
Purchase Behavior: Consumer make two types of purchase and repeat purchase. If a consumer purchase a product (or brand) for the first time, and buys a smaller quantity than usual, this purchase would be considered a trail. Thus, a trail is the exploratory phase of purchase behavior in which consumers attempt to evaluate a product through direct use.
If the new brand is established product category (cola, chewing gum, candies) is found by trail to be more satisfactory or better than other brands, consumers are likely to repeat the purchase, Repeat purchase behavior is closely related to the concept of brand loyalty, which firms try to encourage because it contributes to greater stability in the marketplace.
To study the brand preferences of customers from the available brands of sport shoes in the market.
To find the extent of brand loyalty of customers.
To study the influence of various aspects on buying behavior.
To study the usage & brand awareness of shoes product.
To check out the satisfaction level of the customers for shoes they are using.
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