...Stages of consumer buying decision process Posted on September 12, 2012 by shma The marketer is responsible for selling the goods in the market so he must have the knowledge how the consumers actually make their buying decisions. For this he must study the consumer buying decision process or model. It involves five stages. 1.) Need recognition:- consumer buying decision process starts with need recognition. The marketer must recognize the needs of the consumer as well as how these needs can be satisfied. For example if a person is hungry then food is desired or if it is a matter of thirst than water is desirable. 2.) Information search:- in consumer buying decision process information search comes at second number. In this stage consumer searches the information about the product either from family, friends, neighborhood, advertisements, whole seller, retailers, dealers, or by examining or using the product. 3.) Evaluation of alternatives:- after getting the required knowledge about the product the consumer evaluate the various alternatives on the basis of it’s want satisfying power, quality and it’s features. 4.) Purchase decision:- after evaluating the alternatives the buyer buys the suitable product. But there are also the chances to postpone the purchase decision due to some reasons. In that case the marketer must try to find out the reasons and try to remove them either by providing sufficient information to the consumers or by giving them guarantee regarding...
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...successful performance with an average of 5% growth rate among the industries every year (Kumar, 2005). According to Britannica (2011) the word "cosmetics" is derived from the Greek word Kosmetikos, which means "skilled at decorating". It refers to any of several preparations (excluding soap) that are applied to the human body for beautifying, preserving, or altering the appearance or for cleansing, coloring, conditioning, or protecting the skin, hair, nails, lips, eyes, or teeth. Besides that, when people hear the word ‘cosmetic’, they tend to think of makeup and perfume design for women. Actually, cosmetics come in many forms, which are powder, soap, shampoo, body makeup, toothpaste and others (Kumar et al., 2006). According to Wikipedia, brand loyalty can be defined as the situation in which the consumer usually...
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...A study of consumer behavior for Colgate | Group 2Arohi KumariCathy JoseShruti SoodSmita Kaushik | Focusing on the Oral hygiene range from Colgate-Palmolive. | October 10, ‘15 | INDEX 1 1.1. Sampling -------------------------------------------------2 1.2. Survey Design ------------------------------------------2 1.3 Modes of Communications----------------------------2 2. Data Analysis ---------------------------------------------3 3. Competition -----------------------------------------------7 4. Recommendation-----------------------------------------7 5. Limitation--------------------------------------------------8 6. Acknowledgement----------------------------------------8 1.1 Sampling We have carefully chosen our sample of ten consumers to provide a holistic survey. Our survey takers range as follows: * Households: * Rural (1 participants) * Urban(9 participant) * Occupation : * Student (3) * Single Professional (4) * Married Professionals(2) * Driver(1) * Gender: * Male(4) * Female(5) 1.2 Survey Design * The objective of initial questions was to understand the demographics of survey samples. * Questions were posed to understand the buying roles and influence reference groups in buying decision in the sample group. It reflected frequency and understanding of the reference group influence. * Follow up questions were drafted to infer the consumer’s perception...
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...Advances in Consumer Research Volume 11, eds. Thomas C. Kinnear, Provo, UT : Association for Consumer Research, Pages: 617-622. Advances in Consumer Research Volume 11, 1984 ENTRY/EXIT DEMAND ANALYSIS Peter R. Dickson, The Ohio State University Alan G. Sawyer, The Ohio State University ABSTRACT Past methods of measuring consumer response to the price of a branded good are reviewed and critiqued. A new approach- Entry/Exit Demand Analysis--is described. The method borrows from and improves past methods. Some initial evidence about the technique's test-retest reliability is presented. INTRODUCTION One of the most troublesome problems that confronts management is estimating the responsiveness of demand to changes in price. In the past, experienced managers may have been able to intuitively assess price elasticity based on a history of strategic price increases and decreases. However, over the last decade, many of the street-wise managers may have lost their touch because consumer demand has become much more volatile. Inflation, recession and cultural trends are three factors that have made the tracking of demand curves and price elasticity an even more elusive exercise. Inflation has changed the real purchasing power of the dollar and consequently required consumers to frequently change their reactions to price. Consumers have to adjust to both changes in the value of the dollar and changes in income. Inflation's effect on real income has varied drastically across consumers. Consequently...
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...segmentation (dividing the market into different portions based on differences in customers) is to better understand the needs of our customers thus we need a structured approach to attain this goal. A simple seven-step approach follows: Step One: Identify the type of market with which you will be dealing Step Two: Analyze the areas of satisfaction you are attempting to provide to this market, that is, what wants or needs do you intend to satisfy? Step Three: Select dimensions with which to segment the market Step Four: Based on the selected dimensions, identify the segments in the market under study Step Five: Evaluate whether the segment in which you are interested meets the four criteria for effective segmentation Step Six: Create a profile of the customer identified including purchasing behavior expectations Step Seven: Combine the segmentation analysis with other analyses related to the product, market, and business strategy....
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...Decision Support Systems 24 Ž1998. 29–43 An empirical study on consumer acceptance of products in electronic markets: a transaction cost model Ting-Peng Liang ) , Jin-Shiang Huang 1 Department of Information Management, National Sun Yat-sen UniÕersity, Kaohsiung, Taiwan Abstract Electronic commerce is gaining much attention from researchers and practitioners. Although increasing numbers of products are being marketed on the web, little effort has been spent on studying what product is more suitable for marketing electronically and why. In this research, a model based on the transaction cost theory is developed to tackle the problem. It is assumed that customers will go with a channel that has lower transactional costs. In other words, whether a customer would buy a product electronically is determined by the transaction cost of the channel. The transaction cost of a product on the web is determined by the uncertainty and asset specificity. An empirical study involving eight-six Internet users was conducted to test the model. Five products with different characteristics Žbook, shoes, toothpaste, microwave oven, and flower. were used in the study. The results indicate that Ž1. different products do have different customer acceptance on the electronic market, Ž2. the customer acceptance is determined by the transaction cost, which is in turn determined by the uncertainty and asset specificity, and Ž3. experienced shoppers are concerned more about the uncertainty...
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...practical knowledge. However, the extent that the knowledge can understand is greatly limited because it doest not come with experience. The academic knowledge is not well enough to complete with real world. It was a great opportunity to experience of practical related work to an appraisal of Colgate toothpaste Company. 1. Background Though we are the student of school of business in under graduate program (Bachelor of Business Administration) We have to do innovate our potentiality to develop our skill in various sources such as Report making, preparing financial statement of different kinds of organization. It is our academic part to prepare a report on “Factors influencing consumer behavior specially focuses on Colgate toothpaste” that’s why we prepare it. 2. Significance It enhances our knowledge base. It gives us a broad idea about marketing analysis. 1.3. Scope of the report Today's business world is a place of challenge. Challenge and problem can come from anywhere & anytime. Marketing prepare people to cope with the competition. 1.4. Objective of the Report 1.4.1 Broad Objective: To identify the factor those influence the consumer behavior to buy a product or service. 1.4.2 Specific Objectives: The broader objective may be broken down into further specific objectives enlisted as follows: o To know the using time of Colgate tooth paste o To find the price suitability based on the economic situation of Bangladesh ...
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...To Know And Study The Trends Of Consumer Buying Behavior Toward The Cosmetic Products Of HUL, P&G And Nirma Company’s Brands. 2013 PRITHVI NATH THAKUR St. KABIR INSTITUTE OF PROFESSIONAL STUDIED 12/31/2013 EXECUTIVE SUMMERY The Project and research works are integral part of academic curriculum. During the process I get an opportunity to study the market scenario and set the practical aspect of theory which makes the concept clear. This is an outcome of the research work and study of market that undertaken on the subject related to “To Know And Study The Trends Of Consumer Buying Behavior Toward The Cosmetic Products Of HUL, P&G And Nirma Company’s Brands.” of the cosmetic items. The study and research is also to understand the value of sales and advertisement promotion so also the perception of cosmetic users. DECLARATION I Prithvi Nath Thakur student of PGDM at St. Kabir Institute of Professional Studies Ahmedabad, 2012-14 batch, hereby declare that the Project Report Titled “To Know And Study The Trends Of Consumer Buying Behavior Toward The Cosmetic Products Of HUL, P&G And Nirma Company’s Brands.” is the outcome of my work and same has not submitted by any institute for the award of any degree or any professional diploma. ACKNOWLEDGEMENT I owe a great many thanks to a great people, ...
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...Study Guide #1 FALL 2014 MKTG8 Note: Many students find these exams harder than they expected them to be. You do need to study, including reviewing lecture notes and the book. Chapter 1 Overview Marketing- is the activity, set of instructions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Exchange- people giving up something in order to receive something else they would rather have. Production Orientation- a product orientation means that management assesses its resources and asks these questions: “What can we do best?” What can our engineers design?” What is easy to produce, given our equipment?” A production orientation falls short because it does not consider whether the goods and services that the firms produces most efficiently also meet the needs of the marketplace. Sales Orientation- is based on the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Market Orientation- meaning they assume that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product. Marketing concept- is simple and intuitively appealing philosophy that articulates a market orientation. It states that the social economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives...
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...A Field Book of Consumer Behavior Mount Ida College BA513 1H Consumer Behavior 09/27/2014 Table of Contents Concept page Positioning by Association with Competitors……........................……………............3 Positioning by Brand Personality …...….............................................................….…..............4 Positioning by Consumer Benefits.................................................................................5 Positioning by Price.......................................................................................................6 Positioning by Brand User.............................................................................................8 Positioning by Brand Personality...................................................................................9 Consumer Lifestyles and Product/Consumption Constellations....................................10 Repetition.....................................................................................................................11 Consumer Familiarity or Experience............................................................................12 Factors Influencing Gestalt Perception........................................................................13 Perceptions of Product/Service Quality........................................................................14 Perception of a Pioneer Brand......
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...I. Introduction Cecillio Kwok Pedro recognized an opportunity in producing aluminum toothpaste tubes for Colgate and Unilever and by 1977; he invested and opened Aluminum Container Inc. It was the start of his battle against entrenched giants to becoming the number one toothpaste producer in the Philippines. However, in 1986, a new packaging arrived and the two multinational companies (MNC) decided to switch to plastic tubing. Instead of closing down, Pedro decided to use his machinery and make and offer his own toothpaste. Knowing little about toothpaste, he had technical tie-up with a Japanese company and Lamoiyan Corporation was formally launched in 1988 and produced the first tube of Hapee. Sales have been thwarted by three significant barriers: consumer fears that locally produced goods were inferior, their preference for Colgate’s taste and the lack of awareness of the Hapee brand. Pedro and Lamoiyan Corporation counteracted these obstacles by capitalizing on their tie-up with a Japanese company, imitating Colgate’s taste and doing aggressive promotional strategies like sponsoring the Philippine Olympic team. Pedro also signed an exclusive contract with Sesame Street and featured the characters. Hapee created a niche in the kids market. Hapee toothpaste entered the market at a 50% discount and the multinationals made no move to combat the band. Hapee then dropped to 30% discount and soon, captured 20% market share. The entry of Hapee to the market didn’t...
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...A Study on Impact of Packaging on Rural Consumer Buying Behaviour Towards FMCG Products in Bhopal (M.P) Imran Mehraj Dar Research Scholar in Management Studies Barkutallah University,Bhopal,(M.P) Imranmehraj.dar@gmail.com ABSTRACT In the ever increasing competition of today's global market the need for effective product promotion is crucial, and the product packaging has come to play a more important role as a brand communication vehicle. To achieve communication goals effectively, knowledge about consumer psychology is important so that manufacturers understand consumer response to their packages. This paper aims to investigate the impact of packaging on Rural Consumer buying behaviour towards FMCG products. The challenge for researchers is to integrate packaging into an effective purchasing decision model, by understanding Consumer’s behavior towards the packaging of FMCG products When consumers search for and process information in-store, the product's package can contain relevant and useful information for the consumer. Product packaging forms the end of the 'promotion-chain' and is close in time to the actual purchase and may therefore play an important role in predicting consumer outcomes. Packages also deliver brand identification and label information like usage instructions, contents, and list of ingredients or raw materials, warnings for use and directives for care of product. Packaging characteristics are being measured such as various sizes of Package, different...
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...and every industry and successful marketing of the product is the ultimate goal. Marketing can be defined as “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others” (Kotler: 2002). Nowadays most of the consumers buy products with the help of brand rather than by inspection of the products. It means successful marketing of product means successful marketing of the brand of that product, moreover, every manufacturer or producer or marketer always seeks to get positive attitude towards the brand of his product. “A product is anything that can be offered to market to satisfy a want or need. After producing a product we should give the identification of the product for this brand is used to identify the product. Branding constitutes an important part of product. So building brands require a great deal of time, money, promotion and packaging. A brand is a name or mark intended to identify the product of one seller or group of sellers and differentiate the product from competing produces.” (Kotler: 2002) 1.2 Focus of the Study Brand encourages repeat purchase of products. This promotes brand loyalty among customers. Organizations can achieve stable market share. They get protrusion from competition and greater control in planning the marketing mix. They decrease importance of price. Success of an industry is the main function of successful...
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...Consumer Behavior Key Terms: learning, classical conditioning, instrumental conditioning, reinforcement, stimulus generalization, stimulus discrimination, brand loyalty, motives, unconscious motives, buyer decision process, information search, perception, subliminal perception, self image, perceived risk, attitude, cognitive dissonance, post-purchase (cognitive) dissonance, buyer's remorse, purchase decision process, problem recognition, information search, evaluative criteria, alternative evaluation, consideration set, reference group, beliefs, attitude change, opinion leader, word-of-mouth advertising, buzz marketing, Bzz Agent, family, social class, culture, subculture, innovators, compatibility, complexity, divisibility, communicability, relative advantage, and adoption process. Consumer Behavior- The relatively young discipline of marketing has a great deal to learn from other fields such as psychology, sociology, anthropology, economics, etc. -- especially when it comes to consumer motivation and behavior. One thing scholars are noticing is the convergence of disciplines. A. Contributions of Psychology to Consumer Behavior Learning—Two important learning theories are classical conditioning (Pavlov) and instrumental conditioning (Skinner). Classical conditioning focuses on contiguity (association) and repetition. Pavlov taught dogs to associate the meat and the bell by pairing the two through numerous trials. Eventually, the dog salivated to the bell without the...
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...world’ s econom ce ic ntre is s hifting away from the e tablis d, we s he althy econom s of Europe J apan, and North ie , Am ricaandtow e ardstheAs iaPacific • India is one of the fas s -g te t rowing larg e econom s in the w ie orld. Ove the las 15 r t years India has chang d m e uch fas r te thanm any predicte . d RURAL RETAILING 3 * 4. • Overall, competition and structural changes within the economy have raised the bar in terms of what consumers have come to expect. • Retailing is the largest private sector industry . Retail is the sale of merchandise in small quantities to the ultimate consumer. RURAL RETAILING 4 * 5. The Indian Consumer Is Rapidly Transforming Outlook– From Traditional to Modernized Traditional RURAL RETAILING 5 * 6. • From Functional to Lifestyle RURAL RETAILING 6 * 7. DEFINITION • Retailing can be defined as the set of activities that markets products or services to final consumers for their own personal or house hold use. This is done by organizing the availability of goods and then supplying them to consumer on a relatively small scale. RURAL RETAILING 7 * 8. • The mix of variables including price, location, communications, merchandise, physical attributes, services and personnel form the retail mix and these components form the over all strategic marketing components of retailing. RURAL RETAILING 8 * 98% of traditional retailing is handled by local kirana stores. RURAL RETAILING 9 Penetration is facilitated through intermediaries....
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