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Chapter: Business Science : Customer Relationship Management : Understanding Customers

Customer or Consumer Behavior

Customer or consumer behavior is the study of how individuals make decisions to spend their valuable resources (Time,money,effort) on consumption-related items.


CUSTOMER BEHAVIOR

 

Customer or consumer behavior is the study of how individuals make decisions to spend their valuable resources (Time,money,effort) on consumption-related items. It includes what they buy it, why they buy it, where they buy it, how often they buy it, and how often they use it.

 

According to belch and or is the processbelchandactivities ‖ consumer people engage behav in when searching for, selecting, purchasing, using, evaluating and disposing of products and services so as to satisfy their needs and desires.

 

 

CUSTOMER BEHAVIOR IN RELATIONSHIP PERSPECTIVE

 

1.     Understanding customer is the central part of the marketing process to know why a customer or buyer makes a purchase.

 

2.     Without such an understanding, business will and wants.

 

 

3.     Some business still produces the product without knowing the importance of the customer.

 

4.     Organization clearly understands the benefits wanted by customers, reasons for purchase, re-purchase etc.

 

5.     Importance of customer behavior

 

6.     Production policies

 

7.     Price policies

 

8.     Decision regarding channel of distribution

 

9.     Decision regarding sales promotion

 

10.            Exploiting market opportunities

 

11.            Customers do not always act or react predictably.

 

 

12.            Consumers preferences are changing and becoming highly diversified.

 

13.            Rapid introduction of new products

 

14.            Implementing   thencpt‖―marketing   co

 

 

FACTORS INFLUENCING CONSUMER BEHAVIOR

 

15. Psychological factors

 

1. Motivation

 

2. Perception

 

3. Learning

 

4. Beliefs and attitude

 

      Personal Factors

 

1. Age and Life cycle stage

 

2. Occupation

 

3. Life style

 

4. Personality and self concept

 

      Cultural factors

 

1. Culture

 

2. Sub culture

 

3. Social class

 

      Social factors

 

1. Refernce groups

 

2. Family

 

3. Roles and status

 

      Buying role of a customer

 

      Initiator

 

      Influencer

 

      Decider

 

      Gatekeeper

 

 

      Buyer

 

      User

 

Buying decision of customers

 

      What to buy?

 

      How much to buy?

 

      Where to buy?

 

      When to buy?

 

      How to buy?

 

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Business Science : Customer Relationship Management : Understanding Customers : Customer or Consumer Behavior |


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