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Consumer_Behaviour_Presentation

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Consumer_Behaviour_Presentation

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  1. Consumer Behaviour: Definition and Importance • Understanding the Mind of the Consumer

  2. Introduction • • Consumer behaviour is a key concept in marketing. • • It helps businesses understand what drives purchasing decisions. • • Informed businesses make better products and marketing strategies.

  3. Definition of Consumer Behaviour • Consumer Behaviour refers to the study of how individuals, groups, or organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. • Key Aspects: • • What consumers buy • • Why they buy it • • When and how often • • How they make decisions • • Where they prefer to shop

  4. Importance of Consumer Behaviour • • Helps businesses understand customer needs and preferences. • • Aids in creating effective marketing strategies. • • Improves customer satisfaction and retention. • • Assists in market segmentation and targeting. • • Forecasts consumer trends and behavior patterns. • • Helps in designing better products and services.

  5. Applications of Consumer Behaviour • • Product development • • Pricing strategy • • Advertising and promotion • • Sales forecasting • • Brand positioning • • Customer relationship management (CRM)

  6. Buying Roles • 1. Initiator • Definition: The person who first suggests or thinks of buying a product or service. • Example: A child asks for a new video game.

  7. 2. Influencer • Definition: The person whose opinion or advice influences the buying decision. • Example: A friend recommends a particular brand of smartphone.

  8. 3. Decider • Definition: The person who ultimately makes the buying decision (whether to buy, what to buy, when, and from where). • Example: A parent deciding which school to enroll their child in.

  9. 4. Buyer • Definition: The person who actually makes the purchase and pays for it. • Example: A teenager buying clothes online using their parent’s credit card.

  10. 5. User • Definition: The person who consumes or uses the product or service. • Example: The child who plays with the toy that was purchased.

  11. Gatekeeper

  12. Conclusion • • Understanding consumer behaviour is critical for business success. • • It leads to smarter decisions and better outcomes. • • A company that knows its customers stays ahead in the market.

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