Analyzing Consumer Markets(Consumer behavior)

Consumer behavior is the study of how individuals,groups,and organizations select,buy,use,and dispose off goods,services,ideas or experiences to satisfy their needs and wants.

It is an important process in the buying decision of consumers and thus is important for companies to understand.

A consumer’s buying behavior is influenced by a number of factors:

1)Cultural factors: Culture in India is different from the culture abroad. Thus, cultural factors vary across regions and marketers must closely understand these cultural values to be able to market their product successfully.

2) Social factors: The people with whom we interact influence our buying behavior in many ways.

-       These people could be reference groups(family,friends,neighbours,co-workers), aspirational groups, or opinion leaders.

These groups affect our buying behavior in the following ways:

-       Expose us to new behaviors and lifestyles

-       Influence attitudes and self concept

-       Create pressures for conformity that may affect product and brand choices.

     3) Personal factors: Age and stage in life cycle,occupation and economic circumstances,personality and self concept.

Each person has specific personality traits on the basis of which he/she chooses a brand. Most people relate to a brand personality in terms of their own personality traits and beliefs.

Kissan stands for happy and wholesome food for kids to grow up, and thus attracts mothers as it’s customers.

The model of consumer behavior is explained as below by the stimuli-response approach:

The psychological processes that take place are motivation,perception,learning,emotions and memory.

For Kissan Jam, the mothers have a motive to buy the product for their kids to give them nutritious as well as tasty food,their perception process involves selective attention i.e they are more likely to notice it because it solves their current need.