Understanding the Retail Customer

By-Mohammad Aamir Khan

THE NEED FOR STUDYING CONSUMER

•A key challenge for the retailer is creating products and services which would be successfully in the market

•To be successful in the market retailers need to know various influences that leads the consumers to make purchase

RETAILERS NEED TO KNOW-

•Understanding how the need for a product of service was determined

•Understanding how information was sought by the customer

•The process of evaluation of various products and stores

•The payment process

•The post purchase behavior

FACTORS INFLUENCING THE RETAIL SHOPPER

•Range of merchandise• Customer enters• Finds same merchandise as near outlets• Walk out• Finds different products • May buy along with other goods

•Convenience of shopping• Medicine• Near the doctor’s clinic

•Time to travel• Time • Traffic and like

•Socio economic factors• Region• Religion• Culture• Income

•The stage of the family life cycle• Baby• Adult• Women• Men• employee

THE CUSTOMER DECISION-MAKING PROCESS

•Identification of the need for the product or service• Need may be psychological (associated with personal gratification)• Or Functional (related with the function of the product)

Reason-• Current product doesn't meet expectation• Current stock exhausted• Advertisement• Trying to copy

•Search for information• Internal (memory)• External (friends, family, published source, internet and like

•Evaluating the alternatives• Other substitutes and alternatives• Which one is better • In quality and price• Gives him satisfaction

•The purchase decision-Personality

-lifestyle

-culture

-social class

-family and household influences

Thank You!