Consumer behavior is the study of individuals.docx
Transcript of Consumer behavior is the study of individuals.docx
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Consumer behavior is the study of individuals, groups, or organizations and the processes they
use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and
the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the
decision-making processes of buyers, both individually and in groups. It studies characteristics of
individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family,friends, reference groups, and society in general.
Customer behavior study is based on consumer buying behavior, with the customer playing the
three distinct roles of user, payer and buyer. Research has shown that consumer behavior is
difficult to predict, even for experts in the field. Relationship marketing is an influential asset for
customer behavior analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater
importance is also placed on consumer retention, customer relationship management,
personalization, customization and one-to-one marketing. Social functions can be categorized
into social choice and welfare functions.
Each method for vote counting is assumed as social function but if Arrow’s possibility theorem is used for a social function, social welfare function is achieved. Some specifications of the
social functions are decisiveness, neutrality, anonymity, monotonicity, unanimity, homogeneity
and weak and strong Pareto optimality. No social choice function meets these requirements in an
ordinal scale simultaneously. The most important characteristic of a social function isidentification of the interactive effect of alternatives and creating a logical relation with the
ranks. Marketing provides services in order to satisfy customers.
Mission & Vision
Our Vision
We envision the day when everyone in the world can take a safe drink of water. It is easy to take
for granted ready access to a safe supply of drinking water. Yet nearly one billion people lack this most basic commodity. Creating accessible, safe water supplies in developing countries
liberates people to live healthier, fuller, more productive lives.
Our Mission
Water.org is challenging the traditional approach to assisting people in developing countries. Our
goals are to draw attention to the world's number one health problem, unsafe and inadequatewater supplies, and to raise funds to help fight this immense problem - one community at a time.
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Bisleri is a brand of bottled water in India. Bisleri has 36% market share in packaged drinkingwater in India.
It is available in 8 pack sizes: 250ml cups, 250ml bottles, 500ml, 1 liter, 1.5 liter, 2 liter, 5 liter,and 20 liter. Its operations run throughout the subcontinent of India and is one of the leading
bottled water supplying companies in India. As of 23 October 2012, Bisleri has 18 plants, 13
franchisees & 58 contract packers all over India.
It has developed 8 unique pack sizes to suit the need of every individual. It is present in 250mlcups, 250ml bottles, 500ml, 1L, 1.5L, 2L which are the non-returnable packs & 5L, 20L which
are the returnable packs. Till date the Indian consumer has been offered Bisleri water, however
in its effort to bring something refreshingly new, it has introduced Bisleri Natural Mountain
Water - water brought from the foothills of the mountains situated in Himachal Pradesh. Henceits product range now comprises of two variants: Bisleri with added minerals & Bisleri Mountain
Water.
Bisleri Water is put through multiple stages of purification, ozonised & finally packed for consumption. . Rigorous R&D & stringent quality controls has made it the market leader in the
bottled water segment. Strict hygiene conditions are maintained in all plants.
In its endeavor to maintain strict quality controls each unit purchases performs & caps only from
approved vendors. It produces its own bottles in-house. It has recently procured the latest world
class state of the art machineries that put it at par with International standards. This has not only
helped it improve packaging quality but has also reduced raw material wastage & doubled production capacity.
Our Mission To convert our own and our members/ franchisees’ resources and assets into capital and cash
flows in a profitable, innovative, equitable and sustainable manner. Our profitability willestablish our similarity with other companies in the water improvement industry. But our
commitment to innovation, equity and sustainability will establish our radical difference from
them and also to provide affordable Purified Drinking Water.
We believe that our continuing creativity, innovation and improvement is imperative if our
Crystal Clear Water Stores network is to survive, profit and grow in a rapidly changing and
highly competitive world.
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Our Vision To be the country’s premier provider of world class drinking water geared towards globalization,
delivering excellent products and services; equipped with competent professionals imbued with
dedication and integrity.
Importance
The study of consumer behaviour for any product is of vital importance to marketers in shaping the
fortunes of their organisations.
v It is significant for regulating consumption of goods and thereby maintaining economic stability.
v It is useful in developing ways for the more efficient utilisation of resources of marketing. It alsohelps in solving marketing management problems in more effective manner.
v Today consumers give more importance on environment friendly products. They are concerned
about health, hygiene and fitness. They prefer natural products. Hence detailed study onupcoming groups of consumers is essential for any firm.
v The growth of consumer protection movement has created an urgent need to understand how
consumers make their consumption and buying decision.
v Consumers’ tastes and preferences are ever changing. Study of consumer behaviour gives
information regarding colour, design, size etc. which consumers want. In short, consumer behaviour helps in formulating of production policy.
v For effective market segmentation and target marketing, it is essential to have an understanding of
consumers and their behaviour.
The importance of consumer behavior is also evident when it comes to anticipating consumer
wants and needs. Companies make money when they are able to convince consumers that the products they offer will meet a need and possibly also fulfill some sort of want. For example, a
home cleaning product would need to meet the customer’s satisfaction in terms of effective
cleaning, but may also appeal to a customer when a pleasant scent is added that helps to make
the home more inviting. Here, the manufacturer addresses the need for a clean home while also
fulfilling a want by including the pleasing scent that further makes the home comfortable for theconsumer.
Without understanding the importance of consumer behavior, a company cannot hope to connect
with niche groups of consumers or hold their attention long enough to make a sale, and they willcertainly never build a loyal clientele. Considering demographics such as age, gender, culture,
and location will go a long way toward making it possible to understand why consumers make
certain choices when selecting goods and services for purchase. Even after earning those first
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sales, companies must continue their efforts to understand what motivates consumers to buy their
products, and take steps to meet those needs and wants in order to keep the demand at
respectable levels. Failing to really grasp the importance of consumer behavior will mean theloss of consumer interest and the ensuing decline and collapse of the company.
It's the behaviour displayed by the consumers during the acquisition, consumption anddisposition of products, services, time and ideas by decision making units.
It is the body of knowledge which studies various aspects of purchase and consumption of
products and services by individuals with various social and psychological variables at play.
The behaviour that the consumers display in searching for, purchasing, using, evaluating and
disposing of products and services that they expect will satisfy their needs. The process and activities people engage in when searching for, selecting, purchasing, using,
evaluating, and disposing of products and services so as to satisfy their needs and desires.
The activities directly involved in obtaining, consuming, and disposing of products andservices, including the decision processes that precede and follow these actions.
Objectives:-
1. The consumer seeks to gain the best or the most goods and services for the least amount of
money possible.
2. To study the current Indian market for Shampoos.
3. To analyze the relationship between a specific brand and its buying behavior.
4. To assess whether advertising is influencing the buying behavior of the
consumers.
5. To study the impact of the seals of clinical laboratories on the consumers buying
behavior.
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DATA COLLECTION
The following techniques were adopted for data collection :
1. PRIMARY DATA
Primary data was collected through face to face interviews while filling up
questionnaires. (33 RESPONDENTS)
2. SECONDARY DATA
Relevant information was gathered from magazines, newspapers and project reports
that formed the secondary data.
SCOPE
The scope of the study covers almost all categories of Shampoos. The whole appraisal
of Shampoos has been done from the angle of customer satisfaction. Any substitutes of
Shampoos like washing soaps or natural products have not been considered. Also
Shampoos locally made by the unorganized sector and which are not branded have not
been considered.
LIMITATIONS
The probable limitations of this study are as under :
1. The first and foremost limitations was time constraint which was only one months,
but still efforts have been made to put the picture as clear and candid as possible.
2. Samples were randomly selected as per convenience so error is bound to creep in
the observation.
3. The conservative attitude of the respondents was a limiting factor in gaining
information.
SAMPLING
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SAMPLE SIZE
A sample size of 33 consumers was chosen, but due to incompletely filled
questionnaires and unwillingness and carelessness on the part of the respondents, we
were forced to reduce the sample size to 28. This sample size was based upon timeand affordability approach.
SAMPLING TECHNIQUES
Disproportionate stratified random sampling technique has been used in sampling due
to the following reasons :
1. It provides information about parts of the universe.
2. It provides help in gaining precision through stratification.
KEY FINDINGS
It has been observed that people use not only shampoos but home remedy is also
preferred because of its uniqueness of effectiveness. People also use more than
one shampoo or keep two shampoos
Most people have tried one or more shampoos but hardly finds any differences.
Except for clinic all clear and organic in which respondents have positively agreed of
best shampoo than others.
People buys those shampoos giving them maximum benefits. Female normally look
for shampoo matching with their hair type but male look for combination of benefits
i.e. 1st
hair problem and then fragrances followed by price.
An advertisement is the one that influences a lot than any other factors.
Most people change their shampoos occasionally but there are people who never
change their shampoo i.e. they are satisfied with their current brand.
People normally shampoo twice a week or three to four times a week.
Most people normally buy sachets available followed by above 250-ml pack.
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Most people know of the brands through advertisements. Next come magazines.
And then the newspapers.
Satisfaction is maximum drawn with people using clinic and organic. These are the
brands, which attract most because of perceived quality and brand image.
METHODOLOGY
SURVEY METHOD
I have chosen the exploratory research method for the research. In this method all the questions
are close ended. Except for few questions that needed to be known as in question 10 of asking
the satisfaction and dissatisfaction level and know their problems with respect to the brand they
have used. The options in the form of yes or no, Ranking & choosing one alternative out of
various alternatives, I could not take the open-ended questions in the Questionnaire because of
time constraint. The time given for this research is very short to analyze the survey in Depth. The
number of question related to consumer behaviour research is 14. Out of which 4 Related to
personal details.
Significance
Consumer behavior is a significant theory for marketers who intend to improve their marketing
strategies. For understanding the consumer behavior marketer try to know how consumer feels,how they think.
Consumer behavior plays a vital role in the success of a product . marketers largely depend upon
consumer position of behavior.
There are several dynamics of consumer behavior, some cultural issues, family values, decisionmaking process of consumer , factors which affected consumer behavior
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Consumer also have special consideration on cultural and special occasions where marketers
seems to highlight their product in special manner alongwith they offer free gifts and limited
time scheme so consumer prefer to buy them.
Consumer behavior can change in different periods of time, for example if they like to take tea or
fresh juices in the evening so marketers feel better to show such type of advertisement in thisspecific period.
Media has been playing specific role for changing the consumer behavior but some timeimmature marketing for some diet products or some time marketers seems to provide easy way
to obtained credit at flexible terms for consumers without having any precautions.
For understanding the consumer behavior we need to understand the reason where consumer
prefer to buy comfortably and which factors are attractive for consumer for buying a product.
- See more at: http://www.scientificera.com/business/52-project-management/187-significance-
a-dynamics-of-consumer-behavior-.html#sthash.VhmwGK2Y.dpuf