10-06-2017, 06:47 AM
Consumer Behavior: Introduction
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Consumer Behavior
The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.
Production Orientation
From the 1850s to the late 1920s
Companies focus on production capabilities
Consumer demand exceeded supply
Sales Orientation
From the 1930s to the mid 1950s
Focus on selling
Supply exceeded customer demand
Marketing Concept
1950s to current - Focus on the customer!
Determine the needs and wants of specific target markets
Deliver satisfaction better than competition
Successful Relationships
Defined as the ratio between the customer s perceived benefits and the resources used to obtain those benefits
Perceived value is relative and subjective
Developing a value proposition is critical
Consumer Behavior in a World of Economic Instability
Case Example of Asian Paints
Huge dealer network 26,000
65% non-urban markets even then effectively managed its premium brand Royale
Asian Paints command a premium of 5 10% without affecting volumes
6000 sq ft store in Mumbai offering samples and a meeting point for Interior Designers and Customers
Home Solutions home painting service
The tinting machine introduced under Royale offers 1300 colors