This concept is one of the oldest Marketing management orientations that guide sellers. Companies adopting this orientation run a major risk of focusing too narrowly on their own operations and losing sight of the real objective. Most times; the production concept can lead to marketing myopia.
Who is a Consumer? In simpler words a consumer is one who consumes goods and services available in the market. Example - Tom might purchase a tricycle for his son or Mike might buy a shirt for himself.
In the above examples, both Tom and Mike are consumers. What is consumer Interest? Every customer shows inclination towards particular products and services.
Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste, need and of course pocket. Let us go through the following example: Both Maria and Sandra went to the nearby shopping mall to buy dresses for themselves.
The store manager showed them the best dresses available with him. Maria immediately purchased two dresses but Sandra returned home empty handed. The dresses were little too expensive for Sandra and she preferred simple and subtle designs as compared to designer wears available at the store.
In the above example Sandra and Maria had similar requirements but there was a huge difference in their taste, mind set and ability to spend. What is Consumer Behaviour?
Consumer Behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use. Why do you think an individual buys a product?Definition and Steps involved in the Marketing Process: The marketing process is a process of analyzing the opportunities in the market, selection of the target markets, and development of the Marketing Mix and management of the marketing efforts.
Consumer behavior is the study of how people respond to products and services, followed by their marketing and selling. It’s of huge importance to managers because the focus on consumers is the key contributor to the marketing of business practice. Business functions like accounting, production.
Chapter Overview. In this chapter, which introduces the field of consumer behaviour, we will look at how the study of consumer behaviour came into being and the reasons for studying consumer behaviour and will then go on to a simplified model of consumer decision making.
Consumer Motivation Motivation is an inner drive that reflects goal-directed arousal. In a consumer behavior context, the results is a desire for a product, service, or experience. It is the drive to satisfy needs and wants, both physiological and psychological, through the purchase and use of products and services.
Section of this chapter will provide an overview of consumer behaviour, followed by models of human behaviour in Section Section will represent The concepts of the development, therefore, were heavily influence of needs and motivation on consumer behaviour.
The Marshallian economic model. Consumer behaviour in tourism: Concepts, inﬂuences and aFaculty of Business, Economics and Law, School of Hospitality and Tourism Management, University of Surrey,Guildford , Bournemouth University, Bournemouth, UK (Received 8 August ; ﬁnal version received 9 September ) Although consumer behaviour (CB) is one of the most.