Introduction to Consumer Behaviour
In the highly specialised study of "BUSINESS MANAGEMENT", "BUSINESS ADMINISTRATION" or just "MANAGEMENT" today, "MARKETING MANAGEMENT" function plays a very critical role. This is because this functional area of management (1) "EARNS" the revenue, & (2) "WORKS" in the close proximity with the public or persons outside the organisation. Controlling these two attributes to have the desired benefits are the most difficult part of the management, because none of these two are within the direct control of the marketers. This doesn 't mean that the other functional areas are not useful, but they are not "DIRECTLY" involved in the activities mentioned above.
Similarly, within the study of Marketing Management, the "Consumers" or the "Customers" play a very critical role as these are the people who finally BUY the goods & services of the organisation, and the firm is always on the move to make them buy so as to earn revenue. It 's crucial from both the points of view as given below :
From the customers ' point of view : Customers today are in a tough spot. Today, in the highly developed & technologically advanced society, the customers have a great deal of choices & options (and often very close & competing) to decide on.
They have the products of an extreme range of attributes (the 1st P - Product), they have a wide range of cost and payment choices (the 2nd P - Price), they can order them to be supplied to their door step or anywhere else (the 3rd P - Place), and finally they are bombarded with more communications from more channels than ever before (the 4th P - Promotion).
How can they possibly decide where to spend their time and money, and where they should give their loyalty ?
From the marketers ' point of view : "The purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit". This is the basic principle of requirement for the marketers in earlier days where aggressive selling was the aim. Now it can 't
Similarly, within the study of Marketing Management, the "Consumers" or the "Customers" play a very critical role as these are the people who finally BUY the goods & services of the organisation, and the firm is always on the move to make them buy so as to earn revenue. It 's crucial from both the points of view as given below :
From the customers ' point of view : Customers today are in a tough spot. Today, in the highly developed & technologically advanced society, the customers have a great deal of choices & options (and often very close & competing) to decide on.
They have the products of an extreme range of attributes (the 1st P - Product), they have a wide range of cost and payment choices (the 2nd P - Price), they can order them to be supplied to their door step or anywhere else (the 3rd P - Place), and finally they are bombarded with more communications from more channels than ever before (the 4th P - Promotion).
How can they possibly decide where to spend their time and money, and where they should give their loyalty ?
From the marketers ' point of view : "The purpose of marketing is to sell more stuff to more people more often for more money in order to make more profit". This is the basic principle of requirement for the marketers in earlier days where aggressive selling was the aim. Now it can 't
References: : Consumer Behaviour & Marketing Action, Thomson India Edition, 6th Edition, 2006. Consumer Behaviour & Marketing Research, Suja R Nair, Himalay Publishing House, 1st. Edition, 2004. Consumer Behaviour & Marketing Strategy, J Paul Peter, Jerry C Olson, 2nd. Edition, IRWIN, 1990. Consumer Behaviour : Basic Findings and Management Implications, G Zaltman and M Wallendorf, John Wiley & Sons, 1983. Consumer Behaviour in Marketing Strategy, John A Howard, Prentice Hall, 1989. Consumer Behaviour, David L Loudon & Albert J Della Bitta, TMGH, 4th. Edition, 2006. Consumer Behaviour, James F Engel, Roger D Blackwell, Paul W Miniard, 8th. Edition, The Dryden Press, 1995. Consumer Behaviour, Leon G. Schiffman & Leslie Lazar Kanuk, PHI - EEE, 9th. Edition, 2006. Consumer Behaviour, Roger D Blackwell, Paul W Miniard, & James F Engel, Thomson India Edition, 10th Edition, 2007. Marketing Management - Planning, Implementation & Control, Global Perspective, Indian Context, V S Ramaswamy & S Namakumari, MacMillan India Ltd., 3rd. Edition, 2003. Marketing Management, Philip Kotler, PHI - EEE, 11th. Edition, 2003. Marketing Research, G C Beri, TMGH, 3rd. Edition, 2000.