Definition of Consumer Behaviour
According to Blackwell and Mansard__“Consumer behaviour is the actions and decision processes of people who purchase goods and services for personal consumption’.
According to Louden__“It is the decision process and physical activity, which individuals engage in when evaluating, acquiring, using or disposing of goods and services”.
According to Webster__“It is the psychological,social and physical behaviour or potential customer as they became aware of evaluation,purchase,consume and tell others about product or services.
Thus, it is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions.
The study of consumer behaviour is concerned with all aspects of purchasing behaviour – from pre-purchase activities through to post-purchase consumption, evaluation and disposal activities. It is also concerned with all persons involved, either directly or indirectly, in purchasing decisions and consumption activities including brand-influencers and opinion leaders. Research has shown that consumer behaviour is difficult to predict, even for experts in the field. However, new research methods such as ethnography and consumer neuroscience are shedding new light on how consumers make decisions.
Nature of Consumer Behaviour
- It is complex as each customer has a unique set of needs.
- It is dynamic in nature,human behaviour is constantly altered by its environment.
- It is different from customer to consumer,product to product,country to country.
- Consumer behaviour influenced by various cultural,social,psychological factors.
- Purchasing power of consumer depends upon his income level.
Importance of Consumer Behaviour
- It is help to understand human behaviour.
- It helps to determine customer needs and wants.
- It helps to marketers to understand what a customer buy,why he buys.
- It helps to analyze market opportunities.
- It helps in rapid introduction of new products.