Team 3

Consumer
Behavior
Presentation 1

The Metal and Gemstone Rush

 Table of
CONTENTS

01 02 03 04 05
Introduction Perspective Purchase Analysis Sheth Neuman Conclusion
Analysis Model
 INTRODUCTION
Scenario
Exploring the Narayan family's journey through a significant cultural event: the wedding of
their youngest daughter, Sarita, set against their traditional values and modern
aspirations

Key Characters
Mr. Hari Narayan: Anchored in tradition, seeking value and cultural preservation.
Mrs. Umalatha: Practical and economically minded, concerned with the utility and
cost.
Sarita: A modern professional, prefers trendy and practical jewellery that reflects her
contemporary lifestyle.

Dilemma
Traditional gold vs. modern diamond-and-gemstone jeweler

Investment Cultural significance Personal preference

Objective
To dissect the Narayan family's decision-making process, illustrating the dynamics of
consumer behavior through cognitive, economic, and emotional lenses in the face of
evolving market trends
 PERSPECTIVE ANALYSIS
Mr. Hari Narayan
COGNITIVE VIEW
Rational and logical approach
Focus on investment value, and
cultural traditions
Weigh pros and cons
Gather extensive information
Make well informed decision
Mrs. Umalatha
ECONOMIC VIEW
Pragmatic and cost conscious
Prioritizes best value for money
Consider price, quality and
resale value
Influenced by family’s budget
Seeks discounts and negotiates
Sarita
EMOTIONAL VIEW
Prioritizes style, wearability,
and alignment with lifestyle
Desires fashion-forward, trendy
designs
Influenced by social status and
self expression
Drawn to branded stores
Open to trying new designs

NICOSIA
MODEL
The Nicosia model emphasizes the dynamic
interaction between the consumer and marketer,
where each stage of the decision process is
influenced by the preceding one and impacts the
subsequent one. Applying this model to Mr. Narayan's
situation, we see a decision journey that starts with
exposure to marketing messages, proceeds through
an active information search and evaluation phase,
culminates in a purchase decision that blends tradition
with modernity, and ends with feedback that could
influence future decisions
The Nicosia model is divided into four
fields
Field One - Marketer's Communication Affecting Consumer's
Attitude
The marketer's efforts, such as advertisements or direct marketing from jewellery
brands, influence Mr. Narayan and his family's attitudes toward traditional and modern
jewellery purchases. The messages conveyed and perceived by Mr. Narayan and his
wife from these brands shape their initial purchasing attitudes.
Field Two - Consumer's Search and Evaluation:
In this phase, Mr. Narayan and his wife engage in researching and assessing various
jewellery options, weighing factors such as tradition, investment value, and modern
appeal. Their process may involve visiting stores, consulting with their daughter Sarita,
and conducting online research to evaluate traditional gold versus modern, diamond-
studded jewellery.
Field Three - Purchase Action:
Motivated by their evaluations and preferences, the decision to purchase is made in
this field. For Mr. Narayan, this translates into buying traditional gold jewellery from a
trusted family goldsmith and modern jewellery from branded stores. The choice
reflects a blend of traditional values and modern preferences, indicating a decision
motivated by a thorough evaluation of options.
Field Four - Consumption Experience and Feedback
At this stage, Mr. Narayan's satisfaction in meeting traditional obligations and
accommodating modern tastes influences his future buying decisions. Positive
experiences with both traditional and branded jewellery reinforce his preferences,
shaping his response to future marketing from these segments and completing the
feedback loop to the marketer.
 Sheth Newman Gross model
Functional Value Social Value
01 For Mr. Narayan, the functional value of purchasing gold
jewellery lies in its longstanding attributes such as durability,
02 In the case of Mr. Narayan, buying traditional gold jewellery has a
strong social value as it is deeply rooted in cultural traditions and
intrinsic value, and the ability to serve as a secure investment norms. By purchasing traditional jewellery, he adheres to social
for his daughter's future. expectations and norms, thus maintaining his and his family's social
standing within their community.

Emotional Value Epistemic Value

03 The purchase of gold jewellery is laden with emotional value as
it represents a token of love and care from parents to their
04 Exploring modern and branded jewellery options might represent a
novel experience, different from the traditional choices. This
daughter at her wedding, a significant emotional event. The satisfies a desire for new knowledge and experience in the context
choice of jewellery can also evoke feelings of nostalgia and of changing fashion and jewellery trends.
continuity within the family, particularly if similar gifts have
been traditional for generations.

Conditional Value
05 The decision to purchase gold jewellery now is also influenced by the impending wedding date, which
makes the acquisition of such items both timely and contextually important. The specific condition of his
daughter's marriage and the need to honor traditional customs amplify the importance of this purchase.
 CONCLUSION

COMPLEX MULTIFACETED CHANGING ROLE OF BRANDS CONSUMER

DECISION INFLUENCES CONSUMER BEHAVIOR MODELS
DYNAMICS PREFERENCES
Branded jewellery LApplication of models
The Narayan family's Consumer decisions, The case illustrates a emerges as a significant like Nicosia’s and Sheth-
decision-making especially in culturally broader shift in factor in modern Newman-Gross
process underscores significant contexts, are consumer preferences consumer decisions, effectively captures the
the complexity of influenced by a towards a blend of offering assurances of nuanced decision-making
balancing traditional combination of cognitive, tradition and modernity, quality and catering to process, demonstrating
values with modern economic, and emotional highlighting the evolving lifestyle needs the relevance of
aspirations in factors importance of theoretical models in
consumer behavior adaptability in consumer real-world contexts
choices

FINAL TAKEWAY
Understanding consumer behavior in the context of significant life events requires an integrated approach,
recognizing the interplay between tradition, personal preference, and market influences
 THANK YOU
TEAM MEMBERS

Amey Nemade Amrit Sabat Ashwini Sah

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Bisal Kabi Syed Wasif Moin

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