INFINITY BUSINESS SCHOOL

CONSUMER BEHAVIOUR ASSIGNMENT-1 QUESTIONS TO BE DISCUSSED

Q1) What is consumer behaviour- its role and its importance in achieving firm s marketing success?

The processes of individuals or groups or organization to select, secure, use, and dispose of products or services, to satisfy any needs or desires. It helps the organization in developing more effective products or service for their target customers, helps in developing more effective marketing strategy and brand building which ultimately helps the organization in its growth. Consumer behaviour study gives the insight of what exactly consumer is looking for from a product or service.
Q2) What is the importance of/ how important is- service orientation, sales training, market research, understanding consumer behaviour and competition, target marketing & se gmentation for effectively shaping consumer behaviour- with reference to the products/ services and markets in which his/her company operates?

All the companys are operating in a very dynamic environment and our co. is a banking co. which is a financial service provider and all the mentioned elements are very important for the growth and success of our organization.
Q3) What target market and consumer segments is the company addressing- directing the marketing effort at? Are there really different segments in the total market? Please elaborate. Why do consumers buy? What is their major motivation and what is your differentiation compared to other competitors? Q4) Are you satisfied with your firm s success with consumers in target market? Is there a larger, stronger brand in your product category- whom you consider your major competitor?

Yes we are very satisfied with the success of our co. as we are in the most competitive sector and we are no. 3 banking co. in the private sector. As a brand we have emerged very

strongly in last 2-3 yrs and managed to get the maximum mind share of our customers and we feel our major competition is with HDFC and ICICI bank.
Q5) On a scale of 10, how do you rate: 1) organisation s marketing and brand building effort? Briefly describe what your consumers think of your brand in- a) one word, b) one sentence, c) one paragraph.

9 ; Customer friendly ; complete solution provider for all your financial needs; one of the most customer friendly bank which provides the complete solution for all your financial requirement with some very innovative product offerings.
2) the listening ability of the firm( ability to predict with reasonable accuracy what are current consumer requirements, and the direction and speed with which changes are taking place in the market etc.)9

Q6) Do you have a separate market research department in your company? Or do you use external market research firms? Does your firm have separate brand management teams working on separate brands?

We prefer external market research firms. Yes we have a separate branding team.
Q7) Discuss at least one decision the firm took/or changed after obtaining a different or changed understanding of the expectations and aspirations of the consumers in target market.

of individuals, groups We are more innovative in developing a product specially technology driven products like Internet banking, Mobile banking which are becoming popular very fast in todays market.
Q8) Is it that any one of the four P s is important from among- Product, Price, Place or Promotion decisions?

We believe all the four Ps are equally important for the growth and success of our organization.