ACTIVITY 6

Directions: Describe the consumer’s behaviour; provide your answer on the table below.

CONSUMERS BEHAVIOR

1. Consumer behaviour is a process. When attempting something, our consumer consists of a process. First, to recognize a problem that aim
satisfies the need or want. Second, to carry out research to actively look for ways to satisfy our need. Lastly, to evaluate alternatives, based on
the information gathered, it help to decide which choice best meets our need or want.

2. Consumer behaviour is influenced by various factors. The various factors that influence the consumer behaviour are as follows: marketing
factors such as price and promotion, personal factors such as age, gender and income level, psychological factors such as perception of the
product and attitudes towards the product, situational factors such as social surroundings and time factor and lastly, social factors such as social
status and family.

3. Consumers behaviour undergoes a constant change. Consumer behaviour is not static. It undergoes a change over a period of time depending
on the nature of products. The change in buying behaviour may take place due to several other factors such as increase in income level,
education level and marketing factors.

4. Consumer behaviour varies from consumer to consumer. All consumers do not behave in the same manner. Different consumers behave
differently. The differences in consumer behaviour are due to individual factors such as the nature of the consumers, lifestyle and culture.

5. Consumer behaviour varies from region to region and country to county. The consumer behaviour varies across states, regions and countries.
For example, the behaviour of the urban consumers is different from that of the rural consumers. A good number of rural consumers are
conservative in their buying behaviours.

6. Consumer behaviour information on consumer behaviour is important to the marketers. Marketers need to have a good knowledge of the
consumer behaviour. The knowledge of consumer behaviour enables them to take appropriate marketing decisions in respect of the following
factors: Product design/model, Pricing of the product, Promotion of the product, Packaging, Positioning and Place of distribution.
7. Consumer behaviour leads to purchase decision. Positive consumer behaviour leads to a purchase decision. A consumer may take the decision
of buying a product on the basis of different buying motives. The purchase decision leads to higher demand, and the sales of the marketers
increase.

8. Consumer behaviour varies from product to product. Consumer behaviour is different for different products. There are some consumers who
may buy more quantity of certain items and very low or no quantity of other items.

9. Consumer behaviour Improves standard of living. The buying behaviour of the consumers may lead to higher standard of living. The more a
person buys the goods and services, the higher is the standard of living. But if a person spends less on goods and services, despite having a good
income, they deprive themselves of higher standard of living.

10. Consumer behaviour Reflects status. The consumer behaviour is not only influenced by the status of a consumer, but it also reflects it. The
consumers who own luxury cars, watches and other items are considered belonging to a higher status. The luxury items also give a sense of pride
to the owners.
Directions: Differentiate the relationship between consumer taste and consumer preference “Using Venn Diagram”.

CONSUMER TASTE CONSUMER PREFERENCE

BOTH

- Consumer preference is
- Their preferences for the crucial to Microeconomics.
goods and services they - Consumer
want to buy. preference is a set
of values of a
- Refers to a person's ability to choose - Consumer taste and
consumer whose
quality goods or goods suitable to him. preference are both
determinations are
can be influence by
outside the realm of
- Consumer taste is one of the factors which advertising and
economics.
determine a consumer preference. Other marketing
factors includes culture, education etc. - Consumer preference refers to choose
- They are usually used
something better than previous goods.
both in the economics.
- Consumer tastes refer to the products - Consumer preference is defined
and services that consumers -They are both used as the subjective tastes of
consciously choose over others. to explain marginal individual consumers
utility of consumer. - Consumer preference
- Consumer tastes are so
powerful that they can refers to the tendency to
change how businesses like or favour something
conduct their activity. over other alternatives.
Directions: Give your learning insight about Maslow’s hierarchy of needs.

1. Physiological Needs

What I learned in physiological needs that Maslow’s theory postulates that until the physiological needs are met to the point of
supporting life, other desires will not motivate people. Physiological needs include food, water, warmth, and shelter. Physiological needs can be
used in our daily life when it comes to earning for a living; money is, in fact, the most significant element to satisfy physiological needs. Except
for air (oxygen), all the other elements of physiological needs such as food, clothing, and shelter are money-dependent.

2. Safety Needs

I learned that once an individual’s physiological needs are satisfied, the needs for security and safety become salient. People want to
experience order, predictability and control in their lives. The need for safety and some feeling of security are the motivational needs that must
first be met. They provide the foundation for higher level of motivations to become present and available as needs the individual is aroused to
attain.

3. Social Needs

The third level of human needs is social and involves feelings of belongingness. The need for interpersonal relationships motivates
behaviour. I learned that when physiological and safety needs are met then the individual looks to belong and be accepted by peers and groups
that they identify with. Once accepted, one looks to improve their self-esteem and garner the respect and esteem of their peers.

4. Esteem Needs
 I learned that the need for respect or reputation is most important for children and adolescents and precedes real self-esteem or dignity.
The esteem level comes when the doctor tells you that you are fit enough to go home the following day, this makes you feel good, you are
discharged and get home to your family and friends’ welcome home party, this leaves you feeling happy, loved and appreciated by all those
around you.

5. Self-actualization Needs

I learned that self-actualization needs refer to the realization of a person's potential, self-fulfilment, seeking personal growth and peak
experiences. For instance, the last level is reached when the patient goes back for check-ups and the doctor tells them they are completely healed
and may go back to work and may start going back to their normal daily activities.