Analysis of Consumer Behavior Quotes

In: Business and Management

Submitted By leonard157
Words 2201
Pages 9
Analysis of Consumer Behavior quotes
“We surround ourselves with valued material possessions as a matter of our lives taking course. A sense of linkage to the concrete and observable world external to ourselves permits us to obtain a sense of stability and continuity in an otherwise less stable existence”. Discuss

Psychology is important in many aspects of business, not least in the whole area of marketing and advertising. An understanding of the consumer behaviour is an essential part of the psychology of marketing. This essay will firstly give an explanation of consumer behaviour. Following this, it will discuss the benefits of the applications of consumer behaviours. Finally, it will look at the explication of attachment in consumer behaviours in the quote “We surround ourselves with valued material possessions as a matter of our lives taking course; a sense of linkage to the concrete and observable world external to ourselves permits us to obtain a sense of stability and continuity in an otherwise less stable existence.”

Consumer Behaviour
Consumer behaviour is a complex, multi-disciplinary theory contributed from a variety of social sciences. The microeconomic demand theory, the foundation theory of market economy, is focused on what prospect effect the changes in income and price has on demand under the prerequisite of stable preferences; it does not provide explanation of the dynamics of the many factors in between, for instance, what influence income and price changes has on preferences.
The basic forces of consumer behaviours are emotions, motives as well as attitudes. The study of consumer behaviour focuses on these such as why a consumer buys, how a product is perceived, how the buying decision is taken, where and what a consumer wants to buy (Alvensledben, 1997). In a competitive market economy, this knowledge can influence the…...

Similar Documents

Consumer Behavior

...Consumer behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.[1] It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Customer behaviour study is based on consumer buying behaviour, with the customer playing the three distinct roles of user, payer and buyer. Research has shown that consumer behavior is difficult to predict, even for experts in the field.[2] Relationship marketing is an influential asset for customer behaviour analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater importance is also placed on consumer retention, customer relationship management, personalisation, customisation and one-to-one marketing. Social functions can be categorized into social choice and welfare functions. Each method for vote counting is assumed as social function but if Arrow’s......

Words: 331 - Pages: 2

Consumer Behavior

...1. Introduction “I don’t know the key to success, but the key to failure is trying to please everybody.” (Bill Cosby) The reason is because there are no two people that have exactly same likes and dislikes. Everybody in this world is different. Hence trying to make everyone happy at the same time merely blow the pleaser’s mind off. Taking that quote into consideration, it is not only true to an individual but also to every industry. A business cannot aim to sell their products to the whole market, because every customer has different wants and needs. Only a group of similar consumers that suites the products’ property best should be considered, so the business can use the right marketing strategy. In other words, business should segment their market in order to have clear image about their customers. Thus the business would make high profit by selling right product to right customers. 2. History of Cartier Started in 1847 when Louis-François Cartier took over master-craftsman Adolphe Picard jewelry workshop. Owing to Cartier’s great quality of manufacturing, they were trusted and selected to be many royal family official purveyors, including: King Edward VII of England, King Alfonso XIII of Spain, King Carlos I of Portugal, Tsar Nicholas II of Russia, King Paramindr Maha Chulalongkorn of Siam, King Peter I of Serbia, Duke Philippe of Orleans, King Albert I of Belgium, Duke of Windsor (Prince of Wales, future King......

Words: 2836 - Pages: 12

Consumer Behavior

...Effect of Brand Image on Consumer Purchasing Behaviour on Clothing: Comparison between China and the UK’s Consumers By Kwok Keung Tam 2007 A Dissertation presented in part consideration for the degree of “MSc International Business” Table of Content Page numbers Abstract i Acknowledgements ii Chapter 1: Introduction 1.1 The importance of brand image on fashion clothing 1.2 Background information of China and the UK clothing markets 1.2.1 China clothing market Chinese spending habits Impediments to China’s clothing brand development 1.2.2 UK clothing market British spending habits Characteristics of the UK clothing market 1.3 Theoretical framework 1.4 Objectives of the dissertation 1.5 Outline of the dissertation 1 1 2 2 3 4 5 5 6 7 7 8 Chapter 2: Literature review 2.1 Introduction 2.2 The important roles of brand 2.2.1 The characteristics of successful brands 2.3 Brand equity 2.3.1 Brand awareness 2.3.2 Perceived quality 2.3.3 Brand loyalty 2.3.4 Brand association 2.4 Consumer buying behaviour 10 10 10 11 12 13 15 16 17 19 2.4.1 Models of consumer behaviour 2.5 Summary 20 23 Chapter 3: Methodology 3.1 Introduction 3.2 Theoretical backgrounds 3.2.1 Review of different research traditions 3.2.2 Quantitative versus qualitative analysis 3.2.3 Reliability and validity of data 3.3 Justification of research method 3.4 Sampling 3.5 Interview schedule 3.5.1 Stage one 3.5.2 Stage two 3.5.3 Stage three 3.6......

Words: 22431 - Pages: 90

Ipad Mini Consumer Behavior Analysis

...age group fall within the Generation Y (born between 1977-1996), the majority consumers and early adopters on the services relating to the Internet ,and electronic products. Their enthusiasm and affordability on costly, newest high-technique products which other population is less likely to purchase make them a significant purchase power for gadgets like Ipad Mini. Moreover, this age group covers the households experiencing the young singles, the newly-married, and the full nest 2 family stage, and all these three stages have a comparatively high probability to purchase Ipad Mini. The first two stages pay a lot on entertainment, because their children, the potentially largest financial burden, hasn't been given a birth yet, and their incomes are still increasing. And entertainment is exactly what Ipad Mini is used for. Regarding the full nest 2 family stage, the parents are likely to buy their Generation Z kids ipads if the household is financially abundant. Because of all the above reasons, individuals aged 21-45 is chosen for their probability to purchase the product. In fact, this can be persuasively illustrated by Figure 1.1.(Blog, 2010) The reason for choosing people with incomes of $75k-100k is that, compared with other ipad categories, Ipad Mini is more attractive to this segmentation. With its lowest price among the ipad categories, Ipad Mini is powerfully attractive to potential consumers who can afford mini rather than other Ipads. As shown in Figure 1.2(Mine,......

Words: 2154 - Pages: 9

Consumer Behavior

...two others. One day, with his savings he bought a pair of second-hand Nike shoes from flea market. Sunder Singh is not unique among low-income consumers, especially in large cities, in wanting and buying Nike shoes. Some experts believe that low-income consumers too want the same products and service that other consumers want. The working poor are forced to spend a disproportionate percent of their income on food, housing, utilities, and healthcare. They solely rely on public transportation, spend very little on entertainment of any kind, and have no security of any kind. Their fight is mainly day-to-day survival. QUESTIONS 1. What does the purchase of a product like Nike mean to Sunder Singh? Ans :   Sunder Sing, just escaping homelessness is clearly proud that he was able to save and buy a pair of Nikes. He could undoubtedly have purchase a different brand that would have met his physical needs as well for much less money which he does not say why he bought the more expensive Nikes, a reasonable interpretation is that they serve as a visible symbol that Sunder Singh is back as a successful.       Sunder Singh is not Unique among low-income consumer in wanting and buying items such as Nike shoes. As one expert says. “The low income consumer wants the same product and services other consumer want”. He suggests that marketing efforts reflect those desires. Another expert state. There’s this stereotype that they don’t have enough money for......

Words: 11624 - Pages: 47

Analysis of Consumer Behavior in Fortune Kgmo

...PROJECT REPORT ON “ANALYSIS OF CONSUMER BEHAVIOR IN FORTUNE KGMO” AT ADANI WILMAR LIMITED, PUNJAB SUBMITTED BY SIKANDER SINGH (156/2012) LBSIM, New Delhi (In partial fulfillment for the requirement of the Two year Full time Post Graduate Program in Management, 2012-14) ACKNOWLEDGEMENT I express my deep sense of gratitude to Mr. Umesh Chauhan, for his expert guidance and valuable inputs that gave me an exquisite insight about the project on “ANALYSIS OF CONSUMER BEHAVIOR IN FORTUNE KGMO”. I am highly obliged and thus express my gratefulness to him. I am also thankful to the Prof. S. K. Jain, for giving me an opportunity to apply my knowledge of “Marketing Management” in this Research work. I share the pleasure of this achievement with all my colleagues for moral and emotional support in completing this research work in the area of “Consumer Behavior”, successfully. Sikander Singh PGDM - General LBSIM, New Delhi LETTER OF TRANSMITTAL To: Prof. V.K. Mehta From: Sikander Singh Date: 30th June 2013 PGDM (General), 2012-14 Batch Subject: A Report on “Analysis of Consumer Behavior in Fortune KGMO.” Sir, I, Sikander Singh, hereby, submit to you the Summer Internship project report on Analysis of consumer behavior in Fortune KGMO at Adani Wilmar Ltd. I, under the guidance of Mr. Umesh Chauhan (ZSM, Adani Wilmar Ltd.) and Prof. S K Jain (Mentor) was able to successfully complete the project. This report comprises of......

Words: 8471 - Pages: 34

Consumer Behavior

...CONSUMER BEHAVIOR PART ONE CONSUMER BEHAVIOR INTRODUCTION As the twentieth century has come to a close and we have moved into the third millennium, we can see many developments and changes taking place around us with all the industries and firms within each industry trying to keep pace with the changes and diverse needs of the people. Though for decades together, marketers have regarded ‘customer’ as the king and evolved all activities to satisfy this concept is gaining more momentum and importance today. This can largely be attributed to the prevailing market situation. Not only competition has become intense but over an above with the market being flooded with many products. The challenge before the marketers is to understand the diversity of consumer behavior and offer goods and services accordingly. Today the company image is built and made known by its customers. Thus the success of the firm will be determined by how effective it has been in meeting the diverse consumer needs and wants by treating each customer as unique and offering products and services to suit his needs and creating a life time value and relationship with him. (Nair 2004; 3) Marketers have come to realize that their effectiveness in meeting consumer needs directly influences their profitability the better they understand the factors underlying consumer behavior, the better able they are to develop effective marketing strategies to meet consumer needs. (Assael 2001; 3) Today, the digital......

Words: 37134 - Pages: 149

Consumer Behavior

...Introduction Graves Enterprises, a maker of consumer and commercial grade floor care products, is seeking to expand in both markets. Graves Enterprises is currently price comparable to its competitors in both markets. Its products are also distributed through the same distribution channels. The size and packaging of Graves Floor Care Products are also similar to its competitors. Its primary competitors are rented carpet steam cleaners, Kleen Floor, Spray ‘n” Vac, and Kleen Floor Spot Cleaner. The company products are currently being sold in grocery stores and mass merchandisers such as Walmart. This paper will examine the analysis of consumer behavior and purchase patterns as it relates to their respective markets. An analysis of the company target markets, primary competitors, pricing position, and a distribution strategy will be examined. The company’s objective is to double sales in both the consumer and commercial market within the next year. Analysis of Consumer Products Proposal Consumer behavior is defined as the study of how individuals, groups, and organization select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants (Kotler 2009). It is essential for marketers to understand both the theory and reality of consumer behavior. Consumer behavior is influenced by cultural, social and personal factors. Culture is the fundamental source of a person’s wants and behavior (Kotler 2009). Social factors such as reference groups,......

Words: 1144 - Pages: 5

Consumer Behavior

... |Page no. | |Introduction |01 | |Model of consumer behavior |02 | |Physical influences within an individual |03 | |Motivation |04 | | Perception |05 | |Learning |06 | |Attitudes |06 | |Lifestyle |06 | |Social influences affect consumer behavior |07 | |Family ...

Words: 2501 - Pages: 11

Analysis of Campbell's Advertising Buyer and Consumer Behavior 120 countries around the world. The company objective is providing high-quality foods and simple meals, including soups and sauces, baked snacks and healthy beverages for customer. The company’s marketing campaign is “Ideas for Innovation” and they mainly concern about “nourishing people`s live everywhere, every day”. The advertisement promotes the “select series” of Campbell’s soup. It is one of the most popular series in Hong Kong. Let us talk about the advertisement theories. Analysis and Theories in use Market Segmentation: Market segmentation helps the company to classify the most potential customers into their target group. First, the advertisement mentions the soup eating methods. For the first method, you just need to microwave it for three minutes without adding water. For another method, you can add spaghetti inside the soup to make a good dish. Its targets people who are too busy to cook and are convenient-oriented. It based on personality trait and lifestyle of consumer rooted to segment their customers. Since the soup cooking methods are very easy, people who like convenient will be attracted by this advertisement. Second, the advertisement indicates the special promotion, people can use the special price $12.9 to purchase the soup “Russian Borsch” during the promotional period. It can attract loyal customers and people who are sensitive of price to buy immediately and to try the products. It based on brand loyalty and benefit of consumption......

Words: 1667 - Pages: 7

Consumer Behavior

...products Market Offering-some combination of products, services, information, or experiences offered to a market to satisfy a need or want Needs-states of felt deprivation Partner Relationship Management-working closely with partners in other company department and outside the company to jointly bring greater value to customers Product Concept-the idea that consumers will favour products that offer the most quantity, performance and features and that the organization should therefore devote its energy to making continuous product improvements Production Concept-the idea that consumers will favour products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency Selling Concept-holds that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort Share Of Customer-the share they get of the customer’s purchasing in their product categories Societal Marketing Concept-questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare Wants-form human needs take as they are shaped by culture and individual personality 13th EDITION Marketing-The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Needs-states of felt deprivation Wants-The form human needs take as......

Words: 50597 - Pages: 203

Navy: Analysis of Consumer Behavior and Marketing Strategies

...1. Introduction 1.1. Origin Our esteem faculty Md. Farhan Faruqui assigned us a product which is “NAVY” cigarette and completes a study that covers all-important factors of consumer behavior relating to this product. After a brain storming session with in the group we have been studied the behavioral pattern of “NAVY” cigarette. It is due on July 31, 2007. 1.2. Objectives Followings were the objectives of the study: Broad objective: To develop profile of “NAVY” cigarette. Specific objectives: To attain the broad objective following specific objectives were pursued: □ To know briefly about the “NAVY” cigarette industry. □ To find out the group influence on “NAVY” cigarette. □ To identify the motivational factors that influences the “NAVY” cigarette. □ To find the situational influences that affects the “NAVY” cigarette. 1.3 Scope This study focused “NAVY” cigarette smoker of Dhaka City. It covered time span of 15 days starting from 16th July. It is a comprehensive study of the consumer's belief about the “NAVY” cigarette. The report focuses on the Consumer's belief, perception, lifestyle etc. and the currently what consumers are thinking about the “NAVY” cigarette. 1.4 Limitations Several problems were arises to complete this study. They were: 1. Some of the respondents failed to complete the questionnaire due to unavoidable reasons. 2. The management of “NAVY” did not want to reveal all the information about the product 3. For most of......

Words: 7591 - Pages: 31

Consumer Behavior

...Asia Pacific Journal of Marketing and Logistics Emerald Article: Globalization does lead to change in consumer behavior: An empirical evidence of impact of globalization on changing materialistic values in Indian consumers and its aftereffects Nitin Gupta Article information: To cite this document: Nitin Gupta, (2011),"Globalization does lead to change in consumer behavior: An empirical evidence of impact of globalization on changing materialistic values in Indian consumers and its aftereffects", Asia Pacific Journal of Marketing and Logistics, Vol. 23 Iss: 3 pp. 251 - 269 Permanent link to this document: Downloaded on: 24-03-2012 References: This document contains references to 49 other documents To copy this document: This document has been downloaded 1778 times. Access to this document was granted through an Emerald subscription provided by INDIAN INSTITUTE OF MANAGEMENT AT AHMEDABA For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Additional help for authors is available for Emerald subscribers. Please visit for more information. About Emerald With over forty years' experience, Emerald Group Publishing is a leading independent......

Words: 9388 - Pages: 38

Quote Analysis

...Quote Analysis “She shook each hand reluctantly; touching them was physically distasteful to her. But she made the effort to overcome this feeling so contrary to Christian charity and, in the spirit of mortification, forced herself to kiss the children who accompanied their mothers; they were all fat and pink, overfed and with dirty faces, like little pigs.” p. 245(59 words) The narrator of this quote is the Viscountess and it shows the hypocrisy of upper class that is seen throughout Suite Francaise. The Viscountess just convinced the wives of farmers who had extra food hidden in their houses while she herself refused to give or even sell any of their wealth of food with anyone. The Viscount, himself, was made the mayor of the town and had as such had a surplus of supplies. Just before the Viscountess talked to the ladies, “The viscountess said with sigh, remembering that she spent 850 francs on the shoes she was wearing (fortunately, the viscount was the local mayor and she had coupons for shoes whenever she pleased),”(p.g.241) revealing the ease of access to supplies. The viscount was actually attempting to rally the town together and create a community where everyone assisted everyone else except for his family which held on to everything they had. Another issues discussed in this quote is the attitude of the upper class of France to people of lower class. The Viscountess calls the children “fat and pink, overfed and with dirty faces, like little pigs.”......

Words: 661 - Pages: 3

Consumer Behavior Analysis of Woodland Shoes

...| Consumer Behavior Analysis of “Woodland Shoes” | | Submitted to:Farhan FaruquiSenior Lecturer,Department of Business Administration,East West University, Dhaka.Submitted by: Name | ID | Arafat Rauf | 2009-2-10-345 | MKT 410Section: 1Summer: 2011Date of Submission:3rd August 2011 | | Table of content | | | | | | | | | | | | | | | | | | Introduction Origin of the report: This report is prepared with the respect to three month course of Consumer Behavior. We are assigned to prepare a term paper on “Consumer Behavior analysis of Woodland Shoes”, by our honorable course instructor Md Farhan Faruqui. Our task is to make a survey on Woodland Shoes, and complete a study that covers all the important aspect of Consumer Behavior. Objective of the study: Literature Review: This report has been prepared having a considerable number of objectives in front of us. Some of the objective can be mentioned as: * To apply our knowledge that we gathered from “Consumer Behavior” course, practically in preparing the term paper. * To provide an overview of “Woodland Shoes”. * To measure the possible business value of “Woodland Shoes” in Bangladesh. * To measure the feasibility of “Woodland Shoes” in Bangladesh. * To give some possible recommendations for “Woodland Shoes”. Scope of the study: This term paper is made on the basis of what people think about “Woodland Shoes”. For this we conducted a comprehensive......

Words: 2432 - Pages: 10

Spitfire | Miira no Kaikata | Crazy Coffee Cat