Consumer Behaviour

Consumer behaviour is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services, as well as the affective, cognitive, and behavioural responses of consumers. For businesses to develop marketing strategies that can influence consumers' decision-making processes, it is essential to comprehend consumer behaviour.

Consumer behaviour or consumer purchasing behaviour refers to all of the factors that influence consumers' product inquiry, selection, and purchase decisions. Also applicable to the acquisition of services. Also included in consumer behaviour is the post-purchase phase. Consumer behaviour is a subfield of the business discipline of marketing.'

A consumer is an individual, organisation, or economic entity that purchases a product or service without reselling it. In other terms, they 'consume' the substance.

To comprehend consumer behaviour, businesses must comprehend why customers purchased a product and what motivated them to do so. They must also be aware of the societal trends that are developing.

An example of a new trend developing in society is children's influence on their parents' purchases. Today, children play a significant role in the procurement of expensive products. In fact, many parents will not buy a vehicle if their children dislike it. The opposite was true forty years ago.

Several sciences, such as psychology, biology, chemistry, and economics, are incorporated into the study of consumer behaviour.

By gaining comprehension of consumer behaviour, businesses can target specific groups with their marketing efforts, increase brand loyalty, and identify emerging trends. This information can also assist businesses in staying ahead of the competition and adapting to shifting consumer behaviour.

Understanding consumer behaviour is crucial for any effective marketing strategy. By analysing the factors that influence consumer behaviour, businesses can create effective marketing campaigns that cater to the requirements and desires of their target demographic.

What makes consumer behaviour significant?

The study of consumer behaviour is essential because it enables marketers to comprehend the factors that influence consumers' purchasing decisions.

By understanding how consumers choose a product, businesses can fill market gaps and determine which products are needed and which are obsolete.

The study of consumer behaviour also assists marketers in determining how to present their products for maximum impact on consumers. Understanding consumer purchasing behaviour is the key to reaching and engaging customers, as well as converting them into buyers.

1.???????What consumers think and feel about various alternatives (brands, products, etc.);

2.?????What influences consumers to choose between various options;

3.?????Consumers' behaviour while researching and shopping;

4.????How consumers' environment (peers, media, etc.) influences their behaviour.

Numerous factors frequently influence consumer behaviour. Marketers must examine consumer purchasing patterns and determine buyer tendencies.

In the majority of instances, brands only influence consumer behaviour with things they can control; consider how IKEA seems to compel you to spend more than you intended each time you enter the store.

The characteristics of Consumer Behaviour

The characteristics of consumer behaviour are determined by four factors: personal, psychological, social or cultural. All factors have a significant impact on consumer behaviour, and as a consumer's life changes, so will the characteristics that define him or her.

1.???????Personal factors: an individual's interests and opinions can be influenced by demographics (age, gender, culture, etc.).

2.?????Psychological factors: a person's reaction to a marketing message will hinge on his or her perceptions and attitudes.

3.?????Social factors such as family, peers, level of education, social media, and income influence consumer behaviour.

Consumer Behaviour – a procedure

When endeavouring to make a purchase, our consumer behaviour consists of a series of steps.

First, we must identify a problem. In this stage, the objective is to satiate a need or desire. For instance, assume we must iron our clothes.

We conduct investigations subsequently. During this phase, we actively seek means to satiate our need. For instance, we can iron clothing with a traditional iron, a vapour iron, or at a dry cleaner.

Third, alternatives are evaluated. Based on the information obtained, we select the option that best meets our need or desire.

For example, we may determine that taking the clothes to the dry cleaners helps them last longer. However, if we wish to save money in the long run, we may be best off purchasing a clothes iron.

This is the phase of purchasing. This is when we determine to purchase the best option to satisfy our need or desire.

The final stage is the post-purchase evaluation. In this phase, the purchase is evaluated. In other terms, we evaluate whether the acquisition was worthwhile. Did it satisfy our need? After using the product or service, were we satisfied?

For instance, we decided to purchase an iron so that we can iron whatever we want, whenever we want. We are not required to wait days. Therefore, the purchase resulted in contentment.

Consumer behaviour types

There are four primary consumer behaviour types:

1.???????Complex purchasing behaviour: This behaviour is observed when consumers purchase expensive, infrequently purchased products. They are extremely involved in the purchase process and consumers' research before committing to a high-value investment. Buying a home or a vehicle is an example of complex purchasing behaviour.

2.?????Purchase habits that reduce dissonance: The consumer is extremely involved in the purchasing process, but struggles to distinguish between brands. A consumer may experience "dissonance" if they fear that they will regret their decision. Consider the purchase of a lawnmower, you will choose one based on price and convenience, but you will seek confirmation after the purchase that you made the best decision.

3.?????Habitual purchase behaviour: The consumer's involvement with the product or brand category is negligible during routine purchases. Consider grocery shopping: you go to the store and purchase your preferred bread. You display a habitual pattern rather than strong brand loyalty.

4.????Variety-seeking behaviour: In this instance, a consumer purchases a different product not because they were unhappy with the previous one, but because they desire variety. As when trying out novel shower gel fragrances.

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Example of consumer behaviour

Consider the planning of a weekend getaway for two as an illustration of consumer behaviour.

For a couple who has been together for more than five years, the decision-making process may be more limited than for a couple who is just beginning to date. Reserving a table at a restaurant is an additional instance of consumer behaviour.

For a friend's night out, it requires a limited time investment, while making a reservation for an anniversary or a proposal is a more complex decision making.

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Customer behaviour patterns

Purchasing behaviour patterns are distinct from purchasing tendencies. In contrast to patterns, which exhibit a predictable mental structure, habits are formed as tendencies towards an action and become spontaneous with time.

Each customer has his own distinct purchasing habits, whereas buying behaviour patterns offer marketers a unique way to categorise customers. Customer behaviour patterns can be classified as follows:

1.???????Location of purchase: Even when all items are available in a single store, consumers will typically split their purchases across multiple locations. Consider your favourite hypermarket: even though you can find clothing and footwear there, you're most likely purchasing them from actual clothing manufacturers. When a consumer has the ability and access to purchase the same products in multiple stores, they are not permanently loyal to any store unless that is the only store available to them. Marketers will be able to identify optimal store locations by analysing consumer location preferences.

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2.?????Items acquired: Analysing a purchasing cart can give marketers lots of consumer insights about the items that were purchased and how much of each item was purchased. Luxury items are typically purchased infrequently and in small quantities, whereas necessities can be purchased in abundance. The quantity of each item purchased is influenced by factors such as the item's perishability, the buyer's purchasing power, the unit of sale, the price, the number of intended consumers, etc.

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3.?????Purchase frequency and timing: Customers will shop based on their convenience and will expect service even at odd hours, particularly in the age of e-commerce when everything is accessible with a few clicks. It is the shop's responsibility to meet these demands by identifying a purchasing pattern and adjusting its services accordingly. Seasonal and regional variations must also be taken into consideration.

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