Buyer Decision Process
The customer buying process (also called a buying decision process) describes the journey customer goes through before they buy the product. A buying process the s the series of steps that a consumer will take…
Topics: Consumer Markets and Consumer Buying Behavior
Individual differences in innovativeness for a New Product
People differ greatly in their innovativeness to try new products. People can be classified into five adopter categories. They are discussed below. Innovators: Innovators are venturesome — they are willing to try new products at…
How do family and reference groups influence a consumer’s behavior?
The social factors influencing consumer behavior are- a) Family. b) Reference Groups, Family: There are two types of families in the buyer’s life viz. nuclear family and Joint family. The nuclear family is that where…
Adoption Process for New Products
The adoption process is a series of stages by which a consumer might adopt a new product or service. Whether it be Services or Products, in today competitive world, a consumer is faced with a…
Psychological factors affecting Consumer Behavior
The psychological factors affecting Consumer Behavior There are four important psychological factors affecting the consumer buying behavior. These are perception, motivation, learning, beliefs, and attitudes. Perception Selecting, organizing and interpreting information in a way to…
Importance of Consumer Behavior
Importance of study of consumer behavior can be explained with reference to the points stated as under: Modern Philosophy: It concerns with modern marketing philosophy identify consumers’ needs and satisfy them more effectively than competitors.…