CONSUMER BEHAVIOUR

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CONSUMER BEHAVIOUR

Meaning and definition

The study of consumer behaviour implies how and why a particular consumer or group reacts to decisions of producers.

Consumer behaviour could be defined as “those actions directly involved in obtaining, consuming, and disposing of products and services, including the decisions process that proceeds and follow the action.”

According to another author consumer behaviour is “the behaviour that consumer display in scanning for purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs.

The study of consumer behaviour is the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption related items. It includes the study of what to buy, when to buy, why to buy, from where to buy, how often to buy, and how often they will use it.”

Normally in consumer behaviour one studies the behaviour of consumers for consumption goods but in the study the behaviour of the buyer is also included. He may be user i.e. ultimate consumer or he may be buying for someone else.

In a competitive environment, one cannot trust a product or a consumer. The producer has to produce what is demanded or what can be demanded. Study of consumer behaviour will help us to know what can be sold and what goods and services are likely to get rejected.

In certain products like medicines one buys on the prescription of a physician which is also a part of consumer behaviour. In case of capital goods that is plant, equipment, machinery, buildings etc the decisions are often based on technical advise of others.

In case of industrial raw materials the decision is influenced by supplier of equipment. Then there are purely consumer goods with short life and once they are used they extinguish.

They are called Fast Moving Consumer Goods (FMCG). There are other consumer goods which are durable like cars, refrigerators, electrical iron, juicer-mixer, etc but they basically consumer items with long life.

There are also goods like clothes, which are not consumed in one go but are used for long. The behaviour of consumers for all these products is taken on different considerations than short-term consumer goods like fruits, juices, ice cream or milk.

In short consumer behaviour implies study of behaviour of purchaser of all goods and services whether purely consumer goods, intermediate goods or capital goods. In other words it implies study of attitude of all consumers in disposing of their resources.

Further it is not confined to final users but also include study of attitudes, of all those who take investment decisions whether they consume themselves or buy for others.

It also includes study of behaviour of those who are consultant, advisers and give their opinion to but or not to buy a particular thing and the study of factors which influence their advise/opinion.

Consumer behaviour is an art and a science, economics, psychology, sociology.


The study of consumer behaviour envelops all these and more.

Be it a housewife buying a tube of tooth paste, an executive buying a tie, a school kid buying a pen or a multi-million dollar corporation buying heavy capital equipment, the process of buying is complex and, at times, intriguing.


The consumer buying process is influenced by the consumer’s financial position, personality, tastes, preferences, reference groups, social standing, and even the economic sentiment that is dictated by the status of the economy.
 
CONSUMER BEHAVIOUR

Meaning and definition

The study of consumer behaviour implies how and why a particular consumer or group reacts to decisions of producers.

Consumer behaviour could be defined as “those actions directly involved in obtaining, consuming, and disposing of products and services, including the decisions process that proceeds and follow the action.”

According to another author consumer behaviour is “the behaviour that consumer display in scanning for purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs.

The study of consumer behaviour is the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption related items. It includes the study of what to buy, when to buy, why to buy, from where to buy, how often to buy, and how often they will use it.”

Normally in consumer behaviour one studies the behaviour of consumers for consumption goods but in the study the behaviour of the buyer is also included. He may be user i.e. ultimate consumer or he may be buying for someone else.

In a competitive environment, one cannot trust a product or a consumer. The producer has to produce what is demanded or what can be demanded. Study of consumer behaviour will help us to know what can be sold and what goods and services are likely to get rejected.

In certain products like medicines one buys on the prescription of a physician which is also a part of consumer behaviour. In case of capital goods that is plant, equipment, machinery, buildings etc the decisions are often based on technical advise of others.

In case of industrial raw materials the decision is influenced by supplier of equipment. Then there are purely consumer goods with short life and once they are used they extinguish.

They are called Fast Moving Consumer Goods (FMCG). There are other consumer goods which are durable like cars, refrigerators, electrical iron, juicer-mixer, etc but they basically consumer items with long life.

There are also goods like clothes, which are not consumed in one go but are used for long. The behaviour of consumers for all these products is taken on different considerations than short-term consumer goods like fruits, juices, ice cream or milk.

In short consumer behaviour implies study of behaviour of purchaser of all goods and services whether purely consumer goods, intermediate goods or capital goods. In other words it implies study of attitude of all consumers in disposing of their resources.

Further it is not confined to final users but also include study of attitudes, of all those who take investment decisions whether they consume themselves or buy for others.

It also includes study of behaviour of those who are consultant, advisers and give their opinion to but or not to buy a particular thing and the study of factors which influence their advise/opinion.

Consumer behaviour is an art and a science, economics, psychology, sociology.


The study of consumer behaviour envelops all these and more.

Be it a housewife buying a tube of tooth paste, an executive buying a tie, a school kid buying a pen or a multi-million dollar corporation buying heavy capital equipment, the process of buying is complex and, at times, intriguing.


The consumer buying process is influenced by the consumer’s financial position, personality, tastes, preferences, reference groups, social standing, and even the economic sentiment that is dictated by the status of the economy.

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