Asian Paints
NPIEL Consumer Behavior Vinod Gupta School of Management
Module - 5 CONSUMER BEHAVIOR
Sangeeta Sahney Assistant Professor, Vinod Gupta School of Management Indian Institute of Technology Kharagpur, India Email. sahney@vgsom.iitkgp.emit.in
Joint Initiative IITs and IISc – Funded by MHRD
-1-
NPIEL Consumer Behavior Vinod Gupta School of Management
LESSON – 10 Models of onsumer Behavior II Instructional Objectives:
After completion of this lesson, the student shall know about:
5.3
Models of Consumer Behavior: Basic Models
5.3
MODELS OF CONSUMER BEHAVIOR: Basic Models:
i) Model of Consumer Buying: The consumer market is defined as end user markets. Also called Business to Consumer markets, or B2C markets, the product and service offering is bought by the consumer for his personal use. The decision making process in consumer markets is different from the one that takes place in business or industrial markets. According to Kotler and Armstrong, the basic model of consumer decision making process comprises three major components, viz., marketing and other stimuli (these act as influences), the buyer’s black box (these are related to the consumer) and the buyer responses (this is the response part). The components/processes as well as the working dynamics are explained as follows: 1. Marketing and other stimuli: A consumer is confronted with a stimulus in the environment. This stimulus could be of two kinds; a) One that is presented by the marketer through the marketing mix or the 4Ps, product, price, place and promotion; -product: attributes, features, appearance, packaging etc. -price: cost, value, esteem (prestige) -place: location and convenience, accessibility -promotion: advertising, sales promotion, personal selling, publicity, direct marketing.
b) The other that is presented by the environment, and could be economic, technological, political and cultural.
Joint Initiative IITs and IISc – Funded by MHRD
-2-
NPIEL
Module - 5 CONSUMER BEHAVIOR
Sangeeta Sahney Assistant Professor, Vinod Gupta School of Management Indian Institute of Technology Kharagpur, India Email. sahney@vgsom.iitkgp.emit.in
Joint Initiative IITs and IISc – Funded by MHRD
-1-
NPIEL Consumer Behavior Vinod Gupta School of Management
LESSON – 10 Models of onsumer Behavior II Instructional Objectives:
After completion of this lesson, the student shall know about:
5.3
Models of Consumer Behavior: Basic Models
5.3
MODELS OF CONSUMER BEHAVIOR: Basic Models:
i) Model of Consumer Buying: The consumer market is defined as end user markets. Also called Business to Consumer markets, or B2C markets, the product and service offering is bought by the consumer for his personal use. The decision making process in consumer markets is different from the one that takes place in business or industrial markets. According to Kotler and Armstrong, the basic model of consumer decision making process comprises three major components, viz., marketing and other stimuli (these act as influences), the buyer’s black box (these are related to the consumer) and the buyer responses (this is the response part). The components/processes as well as the working dynamics are explained as follows: 1. Marketing and other stimuli: A consumer is confronted with a stimulus in the environment. This stimulus could be of two kinds; a) One that is presented by the marketer through the marketing mix or the 4Ps, product, price, place and promotion; -product: attributes, features, appearance, packaging etc. -price: cost, value, esteem (prestige) -place: location and convenience, accessibility -promotion: advertising, sales promotion, personal selling, publicity, direct marketing.
b) The other that is presented by the environment, and could be economic, technological, political and cultural.
Joint Initiative IITs and IISc – Funded by MHRD
-2-
NPIEL