What have you done throughout your life and what did you want to do? These self-images can be very positive, giving a person confidence in their thoughts and actions, or negative, making a person doubtful of their capabilities and ideas. In our daily lives, we all get influenced by a variety of people while making our purchase decisions. We, as humans do a lot to try to impress others.
Consumer Behavior Books: A - B
We make a purchase to get compliments and try that other should not think less of us. A reference group is a group whose perspective we consider. Now our reference could be very large or very small including few of our family members or a few close friends. Reference groups influence people a lot in their buying decisions. They set the levels of lifestyle, purchasing patterns, etc. A Reference Group is any person or group that serves as a point of comparison for an individual in forming values, attitudes, guides for behaviour, determining his own judgement, preferences, beliefs, and behaviour.
Sociologists call any group that individuals use as a standard for evaluating themselves and their own behaviour a reference group. The individual can refer to a reference group either in part or in whole. The individual may or may not be a member of a reference group. VALS is a psychographic segmentation measuring and categorizing consumers lifestyles with available demographic data.
By identifying different consumer lifestyles marketers can achieve more precision in their targeting. VALS was designed to yield insights into why people believe and act as they do, and how internal values and attitudes are expressed as external lifestyles.
The VALS System breaks consumers into eight groups each so distinctive in its behaviour and emotional makeup that it becomes a specific market segment. Each group exhibits distinctive decision-making patterns and product consumption tendencies. By using VALS to understand consumers, advertisers hope to establish an emotional bond between the brand and the consumer.
VALS places consumers with abundant resources at the top and those with minimal resources at the bottom. Horizontally, consumers are segmented by their basis for decision-making principles oriented, status-oriented or action oriented. The Principle oriented consumers are guided in their choice by their beliefs or principles rather than by feelings, events or desire for approval. Status-oriented consumers are highly influenced by the actions approval and opinion of others.
Action-oriented consumers are guided by a desire for social or physical activity, variety and risk-taking. Successful, sophisticated, people who take charge, people with high esteem, and abundant resources, interested in growth and express themselves in variety of ways. An image is important to them, not for status or power but as an expression of their taste, character, and independence.
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- consumer behaviour and branding concepts readings and cases the indian context Manual;
They are established in business yet they continue to seek challenges. Fulfilleds are mature, satisfied, reflective people. They are content with their careers, families, and station in life; are well informed about the world and national events, and are alert to opportunities to broaden their knowledge. Their leisure activities tend to centre on their homes.
Fulfilleds have a moderate respect for the status quo, institutions, and social change. Although their incomes allow them many choices, Fulfilleds are conservative, practical consumers; they are concerned about functionality, value, and durability in the products they buy. More than one-third of Fulfilleds are employed in white-collar positions. Most are married, and close to half have dependent children. Believers are motivated by ideals. They are conservative, conventional people with concrete beliefs based on traditional, established codes: family, religion, community, and the nation.
Many Believers express moral codes that have deep roots and literal interpretation. They follow established routines, organized in large part around home, family, community, and social or religious organizations to which they belong.
As consumers, Believers are predictable; they choose familiar products and established brands. They favor U. They favor stylish products that emulate the purchases of people with greater material wealth. Experiencers are motivated by self-expression. Young, enthusiastic, and impulsive consumers, Experiencers quickly become enthusiastic about new possibilities but are equally quick to cool. They seek variety and excitement, savoring the new, the offbeat, and the risky. Their energy finds an outlet in exercise, sports, outdoor recreation, and social activities.
Experiencers are avid consumers and spend a comparatively high proportion of their income on fashion, entertainment, and socializing. Makers are motivated by self-expression. They express themselves and experience the world by working on it—building a house, raising children, fixing a car, or canning vegetables—and have enough skill and energy to carry out their projects successfully. Makers are practical people who have constructive skills and value self-sufficiency. They live within a traditional context of family, practical work, and physical recreation and have little interest in what lies outside that context.
Consumer Behaviour – Answer Bank – sipe
Makers are suspicious of new ideas and large institutions such as big business. They are respectful of government authority and organized labor but resentful of government intrusion on individual rights.
They are unimpressed by material possessions other than those with a practical or functional purpose. Because they prefer value to luxury, they buy basic products. The emotional and intellectual stages you pass through from childhood to your retirement years as a member of a family are called the family life cycle.
Consumer Behaviour And Branding: Concepts, Readings And Cases-The Indian Context
In each stage, you face challenges in your family life that allow you to build or gain new skills. Gaining these skills helps you work through the changes that nearly every family goes through. Not everyone passes through these stages smoothly. Situations such as severe illness, financial problems, or the death of a loved one can have an effect on how well you pass through the stages. Fortunately, if you miss skills in one stage, you can learn them in later stages. If the adults will develop knowledge on time, energy and money adjustment then problems of each stage can be easily resolved.
The family life cycle may be divided into three major stages, the beginning family, the expanding family and the contracting family. The eminent scholar of home science. Bigelow adds eight sub stages to these three major stages. The Family Life Cycle concept has proved to be very valuable for marketers for segmentation activities. The term life cycle refers to the stages through which individuals and families proceed over time.
The following stages are typical of the family life cycle progression. Focusing on the demographic patterns and social trends of people, the family life cycle concept describes the effect of time on a family through the different stages of life focusing on their patterns of consumption and spending based on their income. Well yes it is. All these statements you find you find everywhere are mostly from a book which was made by David Loudon, who has made a Page book about Consumer Behaviour.
So everybody copied. But yea, big copy mood. If it makes sense to few, no problem either. We are all bunch of idiots anyways. At this stage of the life cycle earnings are relatively low because the individual is often just beginning a career. In spite of a low income, there are also few financial burdens which must be assumed; consequently discretionary income is quite high. This group is generally recreation oriented and high on fashion opinion leadership.
As a result, purchase patterns consist of vacations, cars clothing and various other products and services needed for the mating game. In addition, they established their own residence away from their family usually requires the purchase of some furniture and kitchen equipment. They are the young single adult living apart from parents, the career has just started. However in absence of burdens, they are free to spend as they wish. They tend to buy personal consumption items of food and clothing, are fun loving and buy entertainment, have time to be on vacations and tours, move about on bike, change mobile phones frequently, etc.
Many of them find themselves spending as much as they make on cars, furnishings for first residences away from home, fashions, recreation,alcoholic beverages, food away from home, vacations, and other products and services involved in the dating game. Some of these singles may have young children, forcing them to give up. They are also healthier financially than they will be in the next stage, which brings added demands on their resources.
But for now this family has the highest purchase rate and the highest average purchase of durable goods especially furniture and appliances. They also spend heavily on cars, clothing and vacations. These families tent to spend a substantial amount of their income son cars, clothing, vacations, and other leisure activities. They also have the highest purchase rate and highest average purchases of durable good particularly furniture and appliances and appear to be more susceptible to advertising.
Luxury Buying Behaviour and the Role of Culture: An Indian Context
When the first child is born many wives have traditionally stopped working, which cause a reduction in family income. For examples, the increased family size may necessitate more space so the family moves into a new home and purchases items necessary to fill their new environment. The parents are quite interested in new products and are susceptible to things they see advertised. However, they also grow more dissatisfied with their financial position and the amount of money available for savings. In this stage, families are likely to move into their first home; purchases furniture and furnishings for the child; buy a washer and dryer and home maintenance items; and purchase n ew items such as baby food, cough medicine, vitamins, toys, sledges,and skates.