Given money income and price of commodities, consumer plans spending income so as to attain the highest possible satisfaction or utility. The difference in consumer behaviour is due to individual factors such as nature of the consumer s life style, culture, etc. About consumer behaviour check out the full details about the consumer behaviour in pdf format. We call this model of consumer behavior a compensatory model because one cha. All four factors are dependent on each other and influence the decision making process of a consumer. In a laymans language consumer behaviour deals with the buying behaviour of individuals. Indifference curves 510 slope of indifference curves. The material on this site is provided for educational and informational purposes only. Consumer behaviour consumer behavior is the study of when, why, how and where people do or do not buy a product. For example, a consumer faced deciding among pdas with different sizes and different prices would trade off size with price. The material displayed here are collected from various sources and an effort is made to display the actual source. Cbse recommends ncert books and most of the questions in cbse exam are asked from ncert text books. Lecture 3 axioms of consumer preference and the theory.
Scribd is the worlds largest social reading and publishing site. There are two main approaches to the of consumer behavior of demand. 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. 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. Consumer behaviour and marketing action learning objectives after studying this chapter, you will be able to understand.
Consumer behavior reflects the totality of consumers decisions with respect to the acquisition, consumption and disposition of goods, services, activities. It will be available in both book and notes format. Unit i consumer behavior q 1 what is consumer behavior. Reflects totality of consumer s decisions with respect to the acquisition, consumption and disposition of goods, services, time and ideas by. According to economic model of consumer behaviour, consumers try to maximize the utility from products on the basis of law of diminishing marginal utility. Motivation is the activation or energization of goaloriented behavior. Notes of consumerbehaviour free ebook download as pdf file. The study of consumer behaviour deals with basic questions related to buying such as. Lecture notes consumer behaviour chapter 15 mktg 406. 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.
In some situations, consumers do have clear and strong preferences for particular product or service characteristics. Consumer buying behaviour refers to the buying behaviour of the ultimate consumer. Consumer buying behaviour marketing implications consumer perceptions. 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. 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. If youre looking for a free download links of consumer behavior pdf, epub, docx and torrent then this site is not for you. Consumer preference theory a notion of utility function b axioms of consumer preference c monotone transformations 2. The sociological model of consumer behavior is closely related to the society and the versatile groups involved in the same. Consumer behaviour is very important to understand what influences the buying decisions of the consumers and why does it so. Alternatively we can say, the consumer is indifferent between a and b. Behaviour occurs either for the individual, or in the context of a group.
Assuming small is better, a consumer may be willing to pay more for a smaller pda. Concept based notes consumer behavior and marketing research. Understanding consumer behavior is a vital aspect of marketing. 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. Consumer behavior focuses on how individuals make decisions to spend their available resources time, money, effort on consumption related items.
Cbse class 12 micro economics revision notes chapter 2. She is a key member of a team exploring how technology can be used to enhance the student learning experience. Primary groups of family friends and close associates exert a lot of influence on his buying. 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. This helps reduce cognitive dissonance when a marketer can answer any concerns of a new consumer. 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. Consumer behavior is about the approach of how people buy and the use merchandise and services. Theory of consumer choice lecture notes economics 1. The recent advancement in the technological and digital communication are also influencing consumer behaviour. A model is an attempt to diagram the elements and relationship among the. There are four main factors influencing consumer behaviour. Consumer behaviour is one of the important subjects of mba students.
Why it is important to study consumer behavior from marketers viewpoint. 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. Consumers equilibrium notes microeconomics cbse class. Marginal rate of consumer substitution mrcs absolute slope of the indifference curve may be different at every point along the curve. 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. Why do we need to study consumer behaviour e becal.
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 and consumption behaviour are two different concepts developed and cannot be used as a substitute. Free download study notes of consumer behaviour for university. Powerpoint slide on ppt on consumer behaviour for bba and mba compiled by sanjeev sahani. 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. Need social status gifting purpose why do you think an individual does not buy a product. 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. She is a key member of a team exploring how technology can be. Consumer behaviour refers to the behaviour that consumer display in searching, purchasing, using. Factors influencing consumer behaviour easy management notes. Consumer behaviour meaning, nature, scope, elements, importance. Consumer behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use. 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.
Consumer behavior marketing is so much more than creating a catchy phrase or a jingle people will sing for days. Consumer behaviour is defined, as a behaviour that consumers display in searching for, purchasing, using, evaluating and disposing of products and. Facilitates estimation of market demand for product market demand is summation of individual demand theory. Consumer behaviour 14mbamm301 consumer behavior subject code. 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 can be defined as the decision making process and physical activity involved acquiring, evaluating, using and disposing of goods and services. A consumer is a part of the society and he may be a member of many groups in a society. School of distance education consumer behaviour page 7 3. Introduction to the study of consumer behaviour meaning and definition of cb consumer behaviour is a rapidly growing applicationoriented discipline of study. Lecture 3 axioms of consumer preference and the theory of choice david autor 14. Return to contents list types of consumer buying behavior types of consumer buying behavior are determined by. Hauser in a classic paper on the managerial significance of behavioral decision theory, itamar simonson 1993, p.
We must assume that the company has adopted the marketing concept and are consumer oriented. 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. Theory of choice a solving the consumer s problem ingredients characteristics of the solution interior vs corner. For understanding consumer behaviour, implementation of consumer. Introduction to customer behavior definition in consumer. Consumer behavior i about the tutorial consumer behavior is about the approach of how people buy and the use merchandise and services. The main catalyst which triggers the buying decision of an individual is need for a particular productservice. 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. Consumer behavior refers to buyers who are purchasing for personal, family, or group use. Motivation is the driving force within individuals that impels them to action.
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. Consumer behavior is the study of how people make decisions about what they buy, want, need, or. Ncert solutions class 12 economics theory of consumer behaviour. Notes for cbse class 11th chapter 2 consumer s equilibrium. The main purpose of creating this material is to help the mba students in understanding the various aspects of the consumer behaviour. B s patilconsumer behaviourintroductionconsumption is a part of almost every facet of our lives. Understanding consumer buying behavior offers consumers greater satisfaction utility.
The first approach is the marginal utility or cardinalist approach. Consumers purchase products and services as and when need arises. Cbse class 12 micro economics chapter 2 theory of consumer. 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. According to walter consumer behaviour is the process where by individual decides what, where, when, how, from whom to purchase the goods and. Ppt on consumer behaviour for bba and mba powerpoint slides.
Consumer behaviour meaning, determinants and its importance. Pondicherry university a central university directorate of distance education. Textbooks suggest a positive approach that lists a number of social and individual factors and then propose a commonsense model. It s been defined as the study of individuals about the methods they use to search, select, use products, services, experience, or ideas to satisfy their needs and desires. Check out the full details about the consumer behaviour in pdf format. 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. 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.
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. Selected consumer behaviour roles role description. Microeconomics of consumer theory the two broad categories of decisionmakers in an economy are consumers and firms. 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. A consumer may be a member of a political party where his dress norms are different. 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 can be thought of as the combination ofefforts and results related to the consumersneed to solve problems. Once the human behavioural models have been addressed, the chapter will focus on models of consumer behaviour.
Lecture notes, consumer behavior textbook mkt 3230 studocu. 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. It basically depends on the psychology of the consumer. Consumer behavior 05 mbamm3 study material mba ii year semester iii course facilitator modulei introduction to the cb. Ans the term consumer refers to an individual who buys goods and services for personal use. Concept based notes consumer behavior and marketing. Notes of consumerbehaviour consumer behaviour marketing. To register online tuitions on to clear your doubts. 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. Consumer behaviour deals with the process of an individual or organization in coming to the purchase decision, whereas consumption behaviour is. In this manner, market segmentation and marketing concept paved the way for the application of consumer behaviour principles to marketing strategy.
Ten consumer behaviour models short notes bbamantra. An important factor in operant conditioning is the set of rules by which appropriate reinforcements are given for behaviour. Law of diminishing marginal utility dmu, assumptions of law of dmu, relationship between totally utility and marginal utility. The desire of consumers to obtain maximum gains by spending a minimum amount acts as the core for the derivation of this model.