Analysing

Consumer Markets

NEHA GUPTA
SHINJINI SHARMA
ROBIN ARORA
CHIRAG PURI
 What Influences
Consumer Behavior?

•CULTURAL FACTORS

•SOCIAL FACTORS

•PERSONAL FACTORS
 What is Culture?

Culture is the fundamental

determinant of a person’s wants
and behaviors acquired through
socialization processes with family
and other key institutions.
 Subcultures
•NATIONALITIES

•RELIGIONS

•RACIAL GROUPS

•GEOGRAPHIC LOCATIONS
 Social Classes
•Upper uppers

•Lower uppers

•Upper middles

•Middle class

•Working class

•Upper lowers

•Lower lowers
 Characteristics of Social
Classes
• Within a class, people tend to behave alike
• Social class conveys perceptions of
inferior or superior position
• Class may be indicated by a cluster of
variables (occupation, income, wealth)
• Class designation is mobile over time
 Social Factors

•FAMILY
•REFERENCE GROUPS
•STATUSES
•SOCIAL ROLES
 Reference Groups

•MEMBERSHIP GROUPS
•PRIMARY GROUPS
•SECONDARY GROUPS
•ASPIRATIONAL GROUPS
•DISSOCIATIVE GROUPS
 Personal Factors
•AGE
•LIFE CYCLE STAGE
•OCCUPATION
•WEALTH
•PERSONALITY
•VALUES
•LIFESTYLE
•SELF-CONCEPT
Brand Personality

•SINCERITY
•EXCITEMENT
•COMPETENCE
•SOPHISTICATION
•RUGGEDNESS
 EXAMPLES

MTV – EXCITEMENT

LEVI’S – RUGGRDNESS

CNN - COMPETENCE
 Lifestyle Influences

•TIME-CONSTRAINED

•MONEY-CONSTRAINED
LOHAS (Lifestyles of Health and
Sustainability) Market Segments

• Sustainable Economy
• Healthy Lifestyles
• Ecological Lifestyles
• Alternative Health Care
• Personal Development
MARKET FOR LOHAS:

•ORGANIC FOODS

•ENERGY EFFICIENT APPLIANCES

•SOLAR PANELS

•ECO-TOURISM
Model of Consumer Behavior
Key Psychological Processes

MOTIVATION PERCEPTION

LEARNING MEMORY
 Motivation

Herzberg’s
Freud’s Freud’s
Two-Factor
Theory Theory
Theory
Behavior Behavior
Behavior is
is guided by is guided by
guided by
subconscious subconscious
motivating
motivations motivations
and hygiene
factors
Maslow’s Hierarchy of Needs
Herzberg’s Two-Factor Theory

DISSATISFACTION EMPLOYEES NOT POSITIVE

AND DISSATISFIED, SATISFACTION AND
DEMOTIVATION BUT NOT MOTIVATED MOTIVATION

HYGIENE MOTIVATOR
FACTORS FACTORS
 Perception

•SELECTIVE ATTENTION

•SELECTIVE RETENTION

•SELECTIVE DISTORTION

•SUBLIMINAL PERCEPTION
 Learning

LEARNING INDUCES CHANGES

IN OUR BEHAVIOUR ARISING
FROM EXPERIENCE
 Memory

•MEMORY PROCESSES

•MEMORY RETRIEVAL
Consumer Buying Process
PROBLEM RECOGNITION

INFORMATION SEARCH

EVALUATION

PURCHASE DECISION

POST PURCHASE BEHAVIOUR

 Rural Consumer Behaviour
• Rural consumers are more brand loyal
• Restrictions on consumption
• Collective consumption behavior, for
family rather than individual
• Seasonality of consumption based on
seasonality of agricultural
production/income
• Specific patterns in the five-stage buying
decision process
THANKYOU