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The most important thing is to forecast where customers are moving, and be in front of them.
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Dr. HG
BUYER BEHAVIOUR
What motivates the buyer ? What induces him to buy ? Why does he buy a specific brand from a particular shop?
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Dr. HG
Why does he shift his preferences from one shop to another or from one brand to another ?
How does he react to a new product introduced in the market or a piece of information addressed to him ?
What are the stages he travels through before he makes the decision to buy ?
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Dr. HG
institutions.
Social Class --- Social classes reflect not only
Social Factors (Reference Group) --- All groups have direct or indirect influence on the persons attitudes or
behaviour.
eg : family, friends, neighbours and co- workers. Family --- Important and influential primary reference. Roles & Statuses -- Role is activity a person is
Personal Factors
Age and Stage in the Life Cycle --- People buy different goods and services over their lifetime eg : clothes, furniture, recreation etc. Occupation and Economic Circumstances --- It influences consumption patterns. Companies plan products for certain occupational groups.
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Personality Psychological characteristics that lead to relatively consistent and enduring responses to environment.
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Dr. HG
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Dr. HG
PSYCHOLOGICAL FACTORS
Motivation --- A motive is a need that is sufficiently pressing to drive the person to act. Perception --- Is a process by which an individual selects,
1) Problem Recognition 2) Information Search 3) Evaluation of Alternatives 4) Purchase Decisions 5) Post purchase Behaviour
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PROJECT GUIDELINES
Marketing Management Select a product category /company / brand. Study the industry.