Consumer & Marketing

CONSUMER & MARKETING

Introduction

• Consumer: Any individual or group who purchases goods or services for personal use.
• Marketing: A business process that involves identifying, anticipating, and satisfying customer needs profitably.

Consumer Behavior

·       Consumer behavior refers to the study of how individuals, groups, or organizations select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.

Importance in Marketing

• Helps in understanding what consumers want.
• Enables effective segmentation, targeting, and positioning (STP).
• Guides product development, pricing, promotion, and distribution decisions.

Factors Influencing Consumer Behavior

a. Psychological Factors

• Perception
• Motivation
• Learning
• Beliefs and Attitudes

b. Personal Factors

• Age, income, lifestyle, occupation, education

c. Social Factors

• Family, reference groups, roles and status

d. Cultural Factors

• Culture, subculture, social class

Consumer Motivation

·       Consumer motivation refers to the internal drive or reason that prompts a consumer to make a purchase.

Types

• Rational Motivation: Based on logic and facts (e.g., cost, quality)
• Emotional Motivation: Based on feelings (e.g., love, pride, fear)
• Social Motivation: Influenced by peers, status
• Personal Motivation: Driven by personal preferences or needs

Stages in the Buying Process

Stage	Explanation
1. Problem Recognition	Realizing a need or problem (e.g., feeling sick → need to consult a doctor)
2. Information Search	Looking for options – internal (past experience), external (ads, reviews)
3. Evaluation of Alternatives	Comparing features, quality, prices, benefits
4. Purchase Decision	Final decision to buy a product or service
5. Post-Purchase Behavior	Experience after buying: satisfaction or dissatisfaction affects future behavior

Participation in Buying Process

·       Types of Buyer Roles

·        Initiator: Suggests buying the product (e.g., child asking for a toy)

·        Influencer: Has an influence on the buying decision (e.g., doctor recommending a medicine)

·        Decider: Makes the final decision (e.g., parent deciding on child’s school)

·        Buyer: Actually purchases the product

·        User: Uses the product or service (e.g., patient using the medicine)

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