Consumer Behavior
CONSUMER BEHAVIOR – UNIT ONE
INTRODUCTION OF CONSUMER
Earlier consumer were related to the monetary exchanges disregarding the service sectors but these days the consumers are not only limited to the values of money but alsoto intangible objects like services from hospitals, telecommunications, academic institutions etc.
Any organizations’ potential audience or general public can be considered as consumers. Examples of such may fit to the citizen of the nation to the Election commission or the blood donors of Nepal Red Cross.
To understand consumer in a very lay man term, we can imagine a bridge which connects two different bays of the river. Consumer is the other edge where the product or service finally meets to the targeted group.
Consumer is bit different that customer. A customer can be potential buyer or user out of the whole population of segments which a market target for, but a consumer is a final user or buyer of the product or service who can offer the post purchase reactions as well.
So consumer behavior is a mental decision process as well as physical activity of any potential buyer for any specific product or service.
Official definition of Consumer Behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
Following are some of the important points to be considered to understand this topic more broadly.
Behavior occurs either for the individual, or in the context of a group (e.g., friends’ influence what kinds of clothes a person wears) or an organization (people on the job make decisions as to which products the firm should use). * Consumer Behavior involves the use and disposal of products as well as the study of how they are purchased. Usage of prodcuts are often of great interest to the marketer because this may influence how
INTRODUCTION OF CONSUMER
Earlier consumer were related to the monetary exchanges disregarding the service sectors but these days the consumers are not only limited to the values of money but alsoto intangible objects like services from hospitals, telecommunications, academic institutions etc.
Any organizations’ potential audience or general public can be considered as consumers. Examples of such may fit to the citizen of the nation to the Election commission or the blood donors of Nepal Red Cross.
To understand consumer in a very lay man term, we can imagine a bridge which connects two different bays of the river. Consumer is the other edge where the product or service finally meets to the targeted group.
Consumer is bit different that customer. A customer can be potential buyer or user out of the whole population of segments which a market target for, but a consumer is a final user or buyer of the product or service who can offer the post purchase reactions as well.
So consumer behavior is a mental decision process as well as physical activity of any potential buyer for any specific product or service.
Official definition of Consumer Behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
Following are some of the important points to be considered to understand this topic more broadly.
Behavior occurs either for the individual, or in the context of a group (e.g., friends’ influence what kinds of clothes a person wears) or an organization (people on the job make decisions as to which products the firm should use). * Consumer Behavior involves the use and disposal of products as well as the study of how they are purchased. Usage of prodcuts are often of great interest to the marketer because this may influence how