The first approach is the marginal utility or cardinalist approach. Motivation is the driving force within individuals that impels them to action. Each individual in each of these groups makes its decisions in order to achieve some goal a consumer seeks to maximize some measure of satisfaction from his consumption decisions while a firm seeks to maximize its profits. Consumer behaviour and consumption behaviour are two different concepts developed and cannot be used as a substitute. Law of diminishing marginal utility dmu, assumptions of law of dmu, relationship between totally utility and marginal utility.
Factors influencing affecting consumer behaviour importance and definition of consumer behaviour consumer decision making process, behavior research, behaviour model, guerilla marketing, consumer buying behavior, market segmentation, consumer buying behaviour, strategic marketing, advertising slogans buyer behaviour,perception, notes from philip kotler. Consumer behaviour deals with the process of an individual or organization in coming to the purchase decision, whereas consumption behaviour is. Alternatively we can say, the consumer is indifferent between a and b. Hauser in a classic paper on the managerial significance of behavioral decision theory, itamar simonson 1993, p. Check out the full details about the consumer behaviour in pdf format. Understanding consumer behavior is a vital aspect of marketing. Theory of consumer choice lecture notes economics 1. A consumer may be a member of a political party where his dress norms are different. Consumer behaviour consumer behavior is the study of when, why, how and where people do or do not buy a product.
In some situations, consumers do have clear and strong preferences for particular product or service characteristics. Lecture notes, consumer behavior textbook mkt 3230 studocu. A model is an attempt to diagram the elements and relationship among the. Consumer behaviour refers to the behaviour that consumer display in searching, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs. For any two bundles of goods a and b which are identical the consumer will consider a to be at least as good as b a is weakly preferred to b. Consumer buying behaviour marketing implications consumer perceptions.
Given money income and price of commodities, consumer plans spending income so as to attain the highest possible satisfaction or utility. Consumer behaviour jane priest is a teaching fellow at edinburgh business school and teaches parts of the oncampus marketing course, as well as the consumer behaviour elective by distance learning. Factors influencing consumer behaviour easy management notes. Consumer behaviour is defined, as a behaviour that consumers display in searching for, purchasing, using, evaluating and disposing of products and.
Why it is important to study consumer behavior from marketers viewpoint. Consumer behaviour meaning, nature, scope, elements, importance. Lecture 3 axioms of consumer preference and the theory of choice david autor 14. She is a key member of a team exploring how technology can be used to enhance the student learning experience. According to walter consumer behaviour is the process where by individual decides what, where, when, how, from whom to purchase the goods and. Consumer behaviour is one of the important subjects of mba students. The main purpose of creating this material is to help the mba students in understanding the various aspects of the consumer behaviour. The term is generally used for humans but, theoretically, it can also be used to describe the causes for animal behavior as well.
We must assume that the company has adopted the marketing concept and are consumer oriented. There are four main factors influencing consumer behaviour. Models of consumer behavior as the buying process is very important in marketing, it would be ideal to have a complete idea on buyer behavior model. Understanding consumer behavior teaching note this chapter basically consists of two large topicsthe factors that influence consumer behavior, and the presentation of a simple model of consumer behavior. Notes for cbse class 11th chapter 2 consumer s equilibrium. Consumers equilibrium notes microeconomics cbse class. Understanding consumer buying behavior offers consumers greater satisfaction utility. We call this model of consumer behavior a compensatory model because one cha. Concept based notes consumer behavior and marketing.
Lecture notes consumer behaviour chapter 15 mktg 406. The material displayed here are collected from various sources and an effort is made to display the actual source. For example, a consumer faced deciding among pdas with different sizes and different prices would trade off size with price. Concept based notes consumer behavior and marketing research. Introduction to customer behavior definition in consumer. Unit i consumer behavior q 1 what is consumer behavior. Consumer behavior 05 mbamm3 study material mba ii year semester iii course facilitator modulei introduction to the cb. Consumer behaviour is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services, including the consumer s emotional, mental and behavioural responses that precede or follow these activities. Return to contents list go to chapter 1 notes go to chapter 2 notes go to chapter 3 notes go to chapter 6 notes go to chapter 9 notes go to chapter 8 notes go to. Consumer behavior is about the approach of how people buy and the use merchandise and services. The sociological model of consumer behavior is closely related to the society and the versatile groups involved in the same. Why do we need to study consumer behaviour e becal.
The recent advancement in the technological and digital communication are also influencing consumer behaviour. Consumer behaviour meaning, determinants and its importance. In this manner, market segmentation and marketing concept paved the way for the application of consumer behaviour principles to marketing strategy. Consumer buying behaviour refers to the buying behaviour of the ultimate consumer. The term consumer behavior is defined as the behavior that consumer display in searching for purchasing, using, evaluating and disposing of product and services that they expect will satisfy their needs. Consumer behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use. Consumer behaviour is the study of how consumers make decisions about what they need, want, and desire and how do they buy, use, and dispose of goods. Objectives developing an understanding of the internal and external influences which shape the behaviour of both consumer and organisational buyers identifying the discrete stages of the buying process undertaken by consumers and organisational buyers. These ncert book chapter wise questions and answers are very helpful for cbse board exam. Consumer preference theory a notion of utility function b axioms of consumer preference c monotone transformations 2.
Introduction to the study of consumer behaviour meaning and definition of cb consumer behaviour is a rapidly growing applicationoriented discipline of study. Cbse class 12 micro economics revision notes chapter 2. Return to contents list types of consumer buying behavior types of consumer buying behavior are determined by. It will be available in both book and notes format. Consumer behaviour is the study of individuals, groups, or organisations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Facilitates estimation of market demand for product market demand is summation of individual demand theory. Oct 22, 2018 ncert solutions class 12 economics theory of consumer behaviour class 12 economics book solutions are available in pdf format for free download. Ans the term consumer refers to an individual who buys goods and services for personal use. Ten consumer behaviour models short notes bbamantra. Notes of consumerbehaviour free ebook download as pdf file. School of distance education consumer behaviour page 7 3.
To register online tuitions on to clear your doubts. Scribd is the worlds largest social reading and publishing site. Behaviour occurs either for the individual, or in the context of a group. There are two main approaches to the of consumer behavior of demand. Consumer behaviour is the study of individuals or organisations and the activities undertaken by them to select, procure and use products or services to satisfy their needs and wants. Theory of choice a solving the consumer s problem ingredients characteristics of the solution interior vs corner.
Once the human behavioural models have been addressed, the chapter will focus on models of consumer behaviour. Assuming small is better, a consumer may be willing to pay more for a smaller pda. Doc consumer behaviornotes dorothy kwamboka academia. Unit v the global consumer behaviour and online buying behaviour consumer buying habits and perceptions of emerging nonstore choices research and applications of consumer responses to direct. Textbooks suggest a positive approach that lists a number of social and individual factors and then propose a commonsense model. Consumer behavior is the study of how people make decisions about what they buy, want, need, or. B s patilconsumer behaviourintroductionconsumption is a part of almost every facet of our lives. It is broadly the study of individuals, or organizations and the processes consumers use to search, select, use and dispose of products, services, experience, or ideas to satisfy needs and study of its impact on the consumer and society. The issue of what is the most effective reinforcement schedule to use is important to marketers, buy the full version of these notes or essay plans and more in our consumer behaviour notes.
Ppt on consumer behaviour for bba and mba powerpoint slides. Consumer behaviour is very important to understand what influences the buying decisions of the consumers and why does it so. Consumer behavior reflects the totality of consumers decisions with respect to the acquisition, consumption and disposition of goods, services, activities. The difference in consumer behaviour is due to individual factors such as nature of the consumer s life style, culture, etc. This helps reduce cognitive dissonance when a marketer can answer any concerns of a new consumer. The study of consumer behaviour makes us aware of the subtle influences that persuade us to use the product or services of our choices we do. The main catalyst which triggers the buying decision of an individual is need for a particular productservice. Selected consumer behaviour roles role description. Motivation is the activation or energization of goaloriented behavior.
Need social status gifting purpose why do you think an individual does not buy a product. Consumer behaviour refers to the behaviour that consumer display in searching, purchasing, using. Consumer behavior marketing is so much more than creating a catchy phrase or a jingle people will sing for days. Free download study notes of consumer behaviour for university. Pondicherry university a central university directorate of distance education. Cbse class 12 micro economics chapter 2 theory of consumer.
If youre looking for a free download links of consumer behavior pdf, epub, docx and torrent then this site is not for you. Reflects totality of consumers decisions with respect to the acquisition, consumption and disposition of goods, services, time and ideas by human decisionmaking units over time. Consumer behavior refers to buyers who are purchasing for personal, family, or group use. All four factors are dependent on each other and influence the decision making process of a consumer. It is broadly the study of individuals, or organisations and the processes consumers use to search, select, use and dispose of products, services, experience, or ideas to satisfy needs and its impact on the consumer and society.
The material on this site is provided for educational and informational purposes only. Consumer behaviour can be defined as the decision making process and physical activity involved acquiring, evaluating, using and disposing of goods and services. Consumer behavior i about the tutorial consumer behavior is about the approach of how people buy and the use merchandise and services. Primary groups of family friends and close associates exert a lot of influence on his buying. Lecture 3 axioms of consumer preference and the theory. Microeconomics of consumer theory the two broad categories of decisionmakers in an economy are consumers and firms. Understanding consumer behavior will assist business entities to be more practical at selling, designing, development of products or services, and every other different initiative that impacts their customers. Reflects totality of consumer s decisions with respect to the acquisition, consumption and disposition of goods, services, time and ideas by. Notes of consumerbehaviour consumer behaviour marketing.
Many factors, specificities and characteristics influence the individual in what he is and the consumer in his decision making process, shopping habits, purchasing behavior, the brands he buys or the retailers he goes. The study of consumer behaviour deals with basic questions related to buying such as. In a laymans language consumer behaviour deals with the buying behaviour of individuals. Consumer behaviour and marketing action learning objectives after studying this chapter, you will be able to understand.
The desire of consumers to obtain maximum gains by spending a minimum amount acts as the core for the derivation of this model. She is a key member of a team exploring how technology can be. Consumer behavior can be thought of as the combination ofefforts and results related to the consumersneed to solve problems. Cbse recommends ncert books and most of the questions in cbse exam are asked from ncert text books. Consumer behaviour is the study of individuals, groups and organizations decisions with regard to the selection, purchase, use, and disposal of goods, services, ideas, or experiences to satisfy their needs and wants. It basically depends on the psychology of the consumer. Powerpoint slide on ppt on consumer behaviour for bba and mba compiled by sanjeev sahani. Indifference curves 510 slope of indifference curves. It is important to note that this chapter will provide an overview of consumer behaviour theory and that an internet perspective on consumer behaviour, and. Marginal rate of consumer substitution mrcs absolute slope of the indifference curve may be different at every point along the curve. Consumer behaviour 14mbamm301 consumer behavior subject code.
Consumers purchase products and services as and when need arises. Ncert solutions class 12 economics theory of consumer behaviour. About consumer behaviour check out the full details about the consumer behaviour in pdf format. For understanding consumer behaviour, implementation of consumer. Consumer behaviour notes whenever consumer behaviour occurs in the context of a multiperson household, several different tasks or roles as mentioned in the table below may be performed in acquiring and consuming a product or service.
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