A POWERPOINT PRESENTATION ON PRE AND POST PURCHASE BEHAVIOR AND FACTORS INFLUENCING CONSUMER BEHAVIOR

NAME: PRAHLAD PD. SRIVASTAVAROLL NO : MBA 17/14 (GM)

Purchase behavior

Purchase behavior is the sum total of a consumer's attitudes, preferences, intentions, and decisions regarding the consumer's behavior in the marketplace when purchasing a product or service. The study of consumer behavior draws upon social science disciplines of anthropology, psychology, sociology, and economics.

Purchase Process

The Purchase behaviour can be broken down into a series of tasks.

1. Problem recognition: During this stage, the consumer becomes aware of an unfulfilled need or want. For example, his old laptop may be broken and a need arises for a new laptop.

2. Information search: in this stage, the consumer gathers information relevant to solving his problem. Example, collection of information about various laptop models.

3. Evaluation: The various alternatives are evaluated against the consumer’s wants, needs, preferences, financial resources etc.

4. Purchase: In this stage, the consumer will commit to a particular choice and make the final decision. The choice maybe influenced by price and availability.

5. Post purchase evaluation: In this stage, the consumer evaluates whether the purchase actually satisfied her need or not.

 

Post Purchase Behaviour

The behaviour after a product purchase is called Post purchase behaviour. Generally after a product purchase the buyer undergoes post purchase dissonance means the buyer regrets his /her purchase or post purchase satisfaction.

post purchase satisfaction: if the product meets the expected performance, the customer is satisfied. Post purchase satisfaction with the product leads the customer to make repeat purchase and recommend it to others in his reference group.

Post purchase dissonance: This dissonance can be due to - Large number of alternatives The other alternatives have better features It was a difficult buying decision Performance risk of the product High financial commitment towards the product Wear and tear of the product But if the performance of the product is good the customer is satisfied Now based on the satisfaction or dissatisfaction the consumer will re buy

the product or discontinue the product. Example: - A customer buys toothpaste and doesn’t like the taste, this will

cause dissonance and he will discontinue the product and use some other brand.

factors influencing consumer behavior

There are 4 main types of factors influencing consumer behavior:

cultural factors, social factors, personal factors and psychological factors.

1. cultural factors

Cultural factors are coming from the different components related to culture or cultural environment from which the consumer belongs.

Culture and societal environment: an individual will be influenced by his family, his friends, his

cultural environment or society that will “teach” him values, preferences as well as common behaviors to their own culture.

For example, in the West, it is common to invite colleagues or friends at home for a drink or dinner. In Japan, on the contrary, invite someone home does not usually fit into the local customs. It is preferable to do that this kind of outing with friends or colleagues  in restaurant.

Sub-cultures : A society is composed of several sub-cultures in which people can identify. Subcultures are groups of people who share the same values based on a common experience or a similar lifestyle in general. Subcultures are the nationalities, religions, ethnic groups, age groups, gender of the individual, etc..

Social classes: Social classes are defined as groups more or less homogenous and ranked against each other according to a form of social hierarchy. Even if it’s very large groups, we usually find similar values , lifestyles, interests and behaviors in individuals belonging to the same social class. We often assume three general categories among social classes : lower class, middle class and upper class. For example, consumers from the middle class and upper class generally consume more balanced and healthy food products than those from the lower class.

Cultural trends: Cultural trends or “Bandwagon effect” are defined as trends widely followed by people and which are amplified by their mere popularity and by conformity or compliance with social pressure. The more people follow a trend, the more others will want to follow it.

For example, Facebook has become a cultural trend. The social network has widely grew to the point of becoming a must have, especially among young people.

2. Social factors

Social factors are among the factors influencing consumer behavior significantly. They fall into three categories: reference groups, family and social roles and status.

3. Personal factors:

There are different personal factors which affect the buying decision process. These factors, such as the age, sex, lifecycle stage, occupation, economic condition, personality, etc, are unique to every individual.

4. Psychological factors

Psychological factors that influence consumer buyer behavior are motivation, perception, attitude and beliefs.

Conclusion

References

http://theconsumerfactor.com/en/4-factors-influencing-consumer-behavior/

http://www.marketing91.com/factors-affecting-consumer-buying-behavior/

http://study.com/academy/lesson/what-is-consumer-buying-behavior-definition-types-quiz.html

http://www.managementstudyguide.com/what-is-consumer-behaviour.htm