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Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

What is Buyer Behaviour?

The wealth of products and services produced in a country make our economy strong. Almost a the products, which are available to buyers, have a number of alternative supplies; i.e., substitutive products are available to consumers, who make a decision to buy products. Therefore, a seller, most of his time, seeks buyers and tries to please them. In order to be successful, a seller is concerned with

  • Who is the customer?
  • What do consumers buy?
  • When do consumers buy?
  • How do consumers buy?
  • From where do consumers buy?
  • Why do consumers buy?

A buyer makes a purchase of a particular product or a particular brand and this can be termed “product buying motives.” And the reason behind the purchase from a particular seller is “patronage motives.”

A buyer makes a purchase of a particular product or a particular brand and this can be termed “product buying motives.” And the reason behind the purchase from a particular seller is “patronage motives.”

The term individual buyer, consumer, end user and individual user refer to the same, a buyer who buys product and service for end/final use. Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology, and economics. It attempts to understand the buyer decision making process, both individually and in groups.

The term individual buyer behaviour, consumer buying behaviour and end user behaviour all stands for the same. The study of consumer behaviour is the study of how individuals make decisions to spend their available resources (time, money effort) on consumption-related items. It includes the study of what they buy, why they buy it, when they buy it, where they buy it, how often they buy it, and how often they use it.

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Two Categories of Buyers

There are two categories of buyers – the individual buyer and the business buyer. While the individual buyer buys things for his own personal and family consumption, the business buyer is a commercial buyer when buys things for manufacturing other products or for reselling or for use in the running his enterprise. This distinction is substantial and it separates the two categories into two different entities. In buying motivation, attitude and purchase behaviour etc., of the two are different. These have been dealt with separately under the chapter: (a) Marketing of Consumer Goods and (b) Marketing of industrial Goods.

  1. Loyal buyers who remain loyal to a source for considerable periods;
  2. Opportunistic buyers who choose between sellers on the basis of who will best further his long-term interests;
  3. Best deal buyers who concentrate on the best deal available at the time;
  4. Creative buyers who tell the seller precisely what they want in terms of the product, service and price;
  5. Advertising buyers who demand advertising support as part of the deal;
  6. Chisellers who constantly demand extra discounts;
  7. Nuts and bolts buyers who select products on the basis of the quality of their construction.

Characteristics of Buyer Behaviour:

1.Buyer behaviour is very complex.

2.Buyer behaviour is the process by which individuals decide whether, what, when, from whom, where and how much to buy.

3.Buyer behaviour is very dynamic.

4.Consumer behaviour comprises both mental and physical activities of a consumer.

5.It is an integral part of human behaviour.

6.In many cases, it is the sum total of the behaviour of a number of persons.

7.It is influenced by a number of marketing stimuli offered by the marketer.

8.Consumer behaviour is basically social in nature.

9.Consumers act differently at different times.

10.They learn and thereby change their attitudes and behavior.

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Importance of Consumer Behaviour

The importance of studying consumer behaviour that it brings to marketer is given below:

1) Production Polices: The study of consumer behaviour affects production policies. of the enterprise. Consumer behavior discovers the habits, tastes and preferences of consumers and such discovery enables an enterprise to plan and develop its products according to these specifications. It is necessary for an enterprise to be in continuous touch with the changes in consumer behaviour so that necessary changes in products may be made.

2) Price Policies: The buyer behaviour is equally important in having price policies. The buyers of some products purchase Only because particular articles are cheaper than the competitive articles available in the market. In such a case the price of such products cannot be raised. On the other band, some other articles are purchased because it enhances the prestige and social status of persons. The prices of such things can easily be prestige and social status of the persons. The price of such things can easily be raised or fixed higher. Some articles are purchased under particular attitudes and emotions such as Khadi garments are purchased who think themselves the followers of Gandhi. Prices of articles purchased under motives, can also be raised. 3)Decision Regarding Channels of Distribution: The goods, which are sold and purchased solely on the basis of low price, must have cheap and economical distribution channels. In case of those articles, which require after-sale service such T.V. sets, refrigerators etc. must have different channels of distribution. Thus, decisions regarding channels of distribution are taken on the basis of consumer behavior.

4) Decision regarding Sales Promotion: A study of consumer behavior is also vital in making decisions regarding sales Promotion. It enables the producer to know what motive prompts consumer to make purchase and the same are utilized in advertising media to awaken the desire to purchase. The marketer who takes decision regarding brand, packaging, discount, gifts etc., on the basis of consumer behavior for promoting

5) Exploiting Marketing Opportunities: A study of consumer behavior helps the marketers to understand the needs, aspirations, expectations, problems, etc. This knowledge will be useful to the marketers in exploiting opportunities and meeting the challenges of the market. sales of the products.

6) Consumer do not always Act or React Predictably: The consumers of the past used to react to price levels as if price had positive relation. Today, consumers seek value for money, lesser price but with superior features. The consumer response indicates that the shift had occurred. This shift has occurred due to availability of more choice now. Thus Study of consumer behavior is important to understand the changes.

7) Rapid introduction of New Products: Rapid introduction of new product with technological advancement has made the job of studying consumer behavior more imperative. For example, the information technologies are changing very fast in personal computer industry.

8) Implementing the ”Marketing Concept”: This calls for studying the consumer behavior, as customers needs have to be given priority. Thus identification of target market before production becomes essential to deliver the desired customer satisfaction and delight.

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Recommended read:

Part A Firm and Market for Managerial Economics Mcom Delhi University
Unit I Demand and The Firm for Managerial Economics Mcom Delhi University

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities.

Buyer behaviour for Marketing Management Mcom sem 2 Delhi University

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