What do you mean by consumer behaviour
Consumer is an economics term used for individual who consume goods or services to derive maximum utility after consumption of single unit in its daily life more smoothly running.
Consumer an important problem to be tackled in his daily life is the problem of choice. The choices of consumer may be economic as well as non-economic in nature.
In marketing consumer behaviour means all the activities related to sell, purchase and disposal of goods and services.
In simple words consumer means by action and decision which are taken by consumer during purchase of any goods and services.
Consumer behaviour economic choices are those which have an economic significance, or which affect the economic life of the community in a direct or in an indirect manner.
For example of consumer behaviour, if a person grows roses for commercial purpose instead of growing roses as a hobby, it is an economic choice.
Market data collected studied founded an economic choice or financial decision of consumer behaviour involves a choice between alternatives the basic reason for this being the scarcity of means and multiplicity of ends.
Marketing companies used in different markets segment various types of criteria used for rural consumers and urban consumers to increase influence towards their company goods and services.
The opportunities of consumer behavior in building career very huge. Modern world marketing companies looking for employees who have expertise in dealing with consumer behavior. Building career in consumer behavior is totally multidisciplinary fields because consumer behavior build of psychology, sociology, anthropology and marketing arts.
Theories of consumer behaviour
The theories of consumer behaviour relate to the decisions to be taken by the consumer for the purpose of satisfying his wants.
Consumption, in its broadest sense, means the use of economic goods and personal services for satisfying human wants.
It is also defined as the destruction of utilities contained in the goods. The destruction of utilities may be instantaneous as in the case of perishable good or gradual as in the case of durable goods like house, furniture etc.
Consumption theories deal with the satisfaction of human wants. Any thing that we desire is a want. The process of satisfaction of these wants is called consumption.
Comforts are goods that lead to easy living and make our life pleasant. They also improve our working efficiency. However, there is one important difference
between necessaries for efficiency and comforts. In case of necessaries for efficiency, the returns or benefits that we get from them are proportionately higher than the money spent on them.
But in case of comforts, the additional benefit or satisfaction is not in proportion to the money spent on them, (E.g.) scooter.
Luxuries are goods and services that are highly expensive and they do not in any way add to the efficiency of people.
They are just meant for enhancing the prestige of a person, (E.g.) ornaments, bungalow, car, etc. However, it should be noted that necessaries, comforts and luxuries are all relative terms.
They are subjected to vary according to different places, time periods, persons and social setting. For example, scooter is a luxury to a poor man, while it is a comfort to a rich man. Also, what is a comfort today may become a necessity tomorrow.
Utility means as the power of commodity or service to satisfy a human want. The term ‘utility’ should be differentiated from ‘satisfaction’.
Utility implies ‘expected satisfaction’ whereas satisfaction stands for ‘realized satisfaction’. A consumer thinks of ‘utility’ when he is contemplating the purchase of a commodity, but he secures the ‘satisfaction’ only after having consumed the commodity.
Who defined consumer behaviour
Consumer behaviour definition is the analysis of all activities of individual, groups, organisation associated with purchase, use and disposal of goods and services.
Consumer behaviour can be defined as "the dynamic interaction affect & cognition, behaviour and environmental events by which human beings conducts exchange aspects of their lives".
Definition of Consumers Behaviour by Engel, Blackwell and Mansard - Consumer behaviour can be defined as " consumer behaviour is the actions & decision process of people who purchase goods and services for personal consumption".
Definition of Consumers Behaviour by Louden And Bitta - Consumer behaviour can be defined as " consumer behaviour is the decision process and physical activity which individual perform during when individual engage in evaluating and acquiring using or disposing of goods and services.