Wednesday, December 4, 2019

Consumer Behaviour Theory

Question: Discuss about the consumer behaviour theory and the consumer buying behaviour process? Answer: Introduction There are millions of people who dwell on this earth. Each of the people is different from one another in all the respect. It is hard to believe that that each people are guided by their inner instincts when they perform a particular task. It is seen that the people consume when they need and for that they make purchases (Blythe, 2008). The purpose of this paper is to identify the behaviour of the people when they make the purchase decision. It is important to identify what are the factors that drive a person to make a purchase decision (Ang, n.d.). Each and every person makes a purchase decision or purchases based on certain instincts that are internal or external to the person. There are certain aspects that a person considers before he makes a purchase decision. Thus this paper will discuss how individual are influenced while they make purchasing decision, the segmentation in which the individual falls and the process by which the individual passes while they decide upon the purchase. Background As it was said that each people have different purchasing decision and they are guided by the segment in which they fall. The market segment in which the people falls have an influence on how and at what rate the person makes a purchase and the type of products he buys also depends on that. It needs to be seen that the tendency of a person is to consume goods and the services and that it extends beyond the age of the people. It also extends beyond the income as well as education of the people. Energy, intellectualism, self-confidence, innovativeness, novelty seeking, impulsiveness, vanity, and leadership play a critical role (Bruns, Scholderer and Grunert, 2004). According to the VALS segments there are eight segments of classification of the people. These segments are based on the motivation of the people and the resources of the people. According to the VALS the eight types of segment are innovators, thinkers, achievers, experiencers, believers, strivers, makers, and survivors (Bruns, Scholderer and Grunert, 2004). As it was identified earlier, there are certain categories of people who purchase due to the influence of other, or may be due to the motivation that one derives from within or due to need to the people. There are people who buy for showing off to others. Likewise I have a low involvement for the products that I buy since it can be said that I do not inspect much about the products, and thus often find that I have made the wrong purchase. Since I mainly purchase goods and products that are not very high priced (Cahill, 2006). There are cases when I make the purchase base on the fashion that is prevailing in the market, or the fashion that is very trendy and now being followed by all the people. I mainly purchase products that are needed by me which are from the motivation that I derive from others. In many cases I am influenced by others while I make a purchase decision as because if I like the products that some of my friend have or it is possessed by my relatives, I often tend to b uy those products. Thus it can be said that the purchase that I make are mainly a combination of the decision taken by me and the influence of others as well as the current trends in fashion. It needs to be seen that every time I purchase I do not behave I the same manner. It is in a sense good since all the time that I purchase it is not possible that people will have the same level of need and the motivation. Rather I am guided by some motivation or influences that I get from others or may be sometimes I decide on my own what to purchase (Chantara, Koul and Kaewkuekool, 2014). The consumer buying behaviour process Consumers make many buying decisions every day. Before purchasing the consumer passes through a lot of stages to reach a buying decision, starting with:- Need Recognition Information Search Evaluation of alternatives Buying Decisions Post-Purchase Behaviour/ Evaluation The buying process that I mostly follow can be summarised as follows.1. Need Recognition is the phase where the consumers feel the need to possess a new product (Clarke, 2001). The need does not occur to me as frequently since I have the things that I need mostly from my family. Some of the need that arises are due to the ongoing fashion trends or the immediate need for some goods. The needs are often in my case are triggered due to the liking of a product that somebody else possess.2. Information Search is not something that I religiously follow since the products that I buy are not very high priced and that does not require that much information search. (Consumer Behaviour, 2015). But there are times when I look for the price of t he product before buying since I tend to tally the price from different stores and the price that are offered on the online portals like the flipkart and ebay.3. Evaluation of Alternatives are something that I do (Fraj and Martinez, 2006). When I go to a store for the purchase of any product I like to see different types of products that are on the display. Even if I buy form online I tend to look at the different products. It is because I like to compare the prices of the products.4. Buying Decisions are made by me then as and when the products are liked by me. If I dont like the products I do not buy the product and make sure that the products can be returned to the store if there are any disputes in the products. Often it is seen that I make the purchase decision without even verifying the products since I give very less time during the buying process5. Post-Purchase behaviour happens after the purchase of the products. I do not regret much about the product that I buy as because the products are cheap and are according to my needs. Though at times there are some faults in the products since I do not get involved at the time of buying and thus there are at times that I feel that I have been cheated and I am given a low quality of the product. But mostly it can be said that I am satisfied with the product that I buy. It can be seen that I follow the above mentioned buying process during the purchase of goods which can include electronic gadgets, clothes as well as services that are provided to the people. Before buying the need for the product must arise in order to consider the buying of that product. It needs to be seen that this process is followed by me during the purchase of goods which are expensive, since I have a lot of attachment to the goods while I buy those goods. Thus it is seen that the people while buying expensive goods like electronic goods, car, and jewellery tend to be more attached to the goods and the buying process. While purchasing goods that are low priced I do not get attached with the product or the purchasing process (Virmani, 2013). The evaluation of the alternatives is essential when buying a luxurious product as the comparing of more than two products will allow us to choose the better among the options. More over I look for the products which will offer after sale s ervices and warranties so that I can remain hassle free if the product is damaged. These are some of the factors that guide me when I purchase the expensive products. The VALS segment which I can relate to It was discussed earlier that an individual can be in any one of the segment of the lifestyle. There are six segment based on the purchasing style of the people. They are Innovators Thinkers Achievers Experiencers Believers Strivers Makers Survivors Experiencers I think that I am in accordance with category of Experiencers as they are motivated by self-expression. As young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool (Lin and Lin, 2015). I tend to make purchase based on the current trends that are prevailing in the market. I buy random stuffs often influenced by my friends or family. They seek variety as well as excitement, savouring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities thus it can be said that I find relevance to this group since I am influenced by the purchases that are made by my friends and family. Experiencers are avid consumers and spend a comparatively high proportion of their income on fashion, entertainment, and socializing. Their purchases reflect the emphasis they place on looking good and having "cool" stuff (VALS Segmentation, 2015). Thus for the low priced goods and products I tend to make purchase based on the current trends that are prevailing in the market. I buy random stuffs often influenced by my friends or family. Often it happens that I like a product while passing by the shop, if I can afford it I purchase the product. Here it needs to be seen that in order to purchase, an individual needs to have the capacity to purchase. Thus the capacity to purchase is an important criterion in order to make a purchase decision (VALS Segmentation, 2015). Reference group Reference group plays an important role in the purchase decision of an individual. There are many reference groups that influence a person. Reference group can be the family, the friends, and even the organisation or the working place of an individual (Leguizamon, 2010). Reference groups furnish points of comparison by which one can evaluate attitudes and behavior (Adhikari and Rao, 2012). An individual can be a member of a reference group such as the family and would be said to be part of a membership group. The same individual may aspire to belong to a cricket club and would be said to be a part of an aspiration group. A disclaimant group is one to which an individual may belong or join and then reject the groups value. An individual may also regard the membership in a specific group as something undesirable and to be avoided. Such a group is called dissociative group (Dr. N. Kathirvel and P.VIMALAGRACY, 2011). As it is seen that the reference group has a influence on the buying decision of me also. I am influenced by the way my family and the friends buy. There are peer groups that are the reference group in my case. I am attracted by the way my friends dress and most of those are followed by me. Apart from the current trends like those that are worn by the sports person and the film stars are also my reference points and I tend to make purchase decision based on the style statement that they follow and more over one more thing that can be said about me is that I constantly change the reference group as I am very choosy and often my mind changes with time. Self concept (self image) theory Self concept theory is viewed as most relevant and a popular approach for the marketers as it focuses on how the self image of the individual consumers influences the purchase behaviour. Self concept is defined as the totality of the individuals thought and the feelings having reference to herself or himself as an object. It is seen that each and every people have self concept. Every individual sees himself or herself as having certain attributes and qualities and values them. According to one popular model proposed by M. Joseph Sergy, there are four specific types of self images (UDAYASHANKAR and MURALIDHARAN, 2012). According to the self images the things that the consumers buy are a reflection of what they think and who they believe they are. This represents their actual self, what they would like to be is their ideal self, how feel other see them is their social self and how they would like others to see them is their ideal social self. It was identified by the researchers that t here is one more social image that is the expected self. This means that how the consumers wish to see themselves in the near future (Noel, 2009). It can be said I am more of person who likes to dress according to the latest trends and posses the latest goods that are in the fashion. I like the people to think that I am very modern and know the sense of fashion. I want to maintain this in the future also since I like being this way and there are chances that in the future I might become rational in terms of buying and tend to associate or get involved wit t he products that I buy and take good look at the products. In the future I would like to posses product and goods that will highlight the my status and purchase those that will make the people think that I am a status conscious people. Though it can be said that now I am mostly influenced by the things that are attractive and in demand. The main motive of the people is to make them presentable so that they are appreciated in the society. (Thompson and Prendergast, 2015). It is seen that the individual are more driven by the characteristics, desire, personal goals which are separate from each other (Chen, 2012). Thus the independent self concept theory suggests that the individual are more autonomous, egocentric, self reliant and self contained. Their definition of themselves focuses on what they have done and what they possess as well as their personal traits that often makes the difference from the other individuals (Wood, 2005). This theory has guided me in the purchasing decision. The ideal self within me has been guiding me for making all the decisions that I have taken so far (Shiau and Wu, 2013). It is how I perceive myself to be and how I want to see myself. My inner self has been acting as guidance for me to make the purchase decision and in turn allows me to be comfortable among my friends, family, and the society at large. It is essential for me to look good and posses the goods that will highlight my self-image in the society and among the groups that I associate with. (Sahney, 2015). Conclusion Despite what people thinks, it is necessary to understand that the advertisement also plays an important role in the purchasing decision of an individual. It is seen that an advertisement can create a need among the consumers and at the same time it is seen that no matter how much advertisement is given it will not make the consumer buy the product if he or she has no need for that product (Solomon, 2006). In my opinion it is necessary for the marketers to market the products according to the needs of the people and highlight those features that will attract the consumers to own the product. It can be out of the snob appeal that they feel or the inner desire to own the product or due to the influence of others. Thus I personally would prefer that the products are innovative as well as attractive so that it attracts my attention and I end up buying the products (Finkelstein, 2007). My purchasing power depends on the way I think and feel about the fashion that is in trend nowadays. I a m, very trendy and follow the current trend very religiously. I keep it in mind that the trends that I am following are according to my features and they are complementing me. I wear what looks good on me and I am very fashionable. Apart from the clothes the other things that I buy are mostly influenced by the decision taken by me and my family jointly. Sometimes the decision are based on the products that my friend buy and it happens that I like the product so much that I make the decision to buy the product (Hermans and Gieser, 2012). Bibliography Blythe, J. (2008).Consumer behaviour. London: Thomson Learning. It is important as I am able to learn about the process of decision making that the consumer needs to do un order to purchase the products. Bruns, K., Scholderer, J. and Grunert, K. (2004). Closing the gap between values and behaviora meansend theory of lifestyle.Journal of Business Research, 57(6), pp.665-670. 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