Consumer Behaviour: Meaning and Characteristic of Consumer Behaviour

Meaning of Consumer Behaviour

Consumer Behaviour refers to the overall study of consumer actions in the marketplace that how any individual or a group of customers reacts in respect of any goods or services while going to purchase such as buying motives, taste and preference.

In other words, it is the study of what factors stimulate an individual to purchase and how he satisfies their needs and wants through services offered in the marketplace of goods and services.

Through the buying behaviour of consumers in the marketplace marketers observe and analyse which kind of products they require, and what services the preferred, product price, product brand, packaging, labelling etc.has impact more consumers to purchase.

Consumers are the lifeblood of business. They are actors of a marketplace where all the products are designed in this manner which attract and satisfy needs and wants of the consumers. Without customers no businesses can be considered to survive in the marketplace for a long time.  

Therefore marketers used effective communication skills to sustain, retain and persuade their targeted customers.

Characteristics of Consumer Behaviour

1. Marketers considered that consumer behaviour is not static; they are dynamic because their taste and preference are changed continuously.

2. There are some factors which influence consumer behaviour such as 

Marketing factors: Product design, price, promotion, packaging, positioning and distribution.

Social factors: Reference group and family and friends, social status.

Personal factors: Education, income level, age and gender.

Psychological factors: Perception regarding any product, consumer buying motives and their attitudes towards the product.

Cultural factors: Religion, social class etc.

3. Every consumer is not the same at any time due to individual factors. One consumer is different from another consumer by nature, lifestyle and culture. Some of them are luxurious and some of them spend only for their necessities. This varies from consumer to consumer. These changes take place due to income level, and their social status.

4. Consumer behaviour varies from region to region and country to country differences measured through buying behaviour of urban and rural people.

Generally rural consumers spend their money to satisfy their basic needs and wants, they think beyond it when their income allows. It totally depends on their income level. On the other hand urban consumers spend more on luxury products to maintain their social status such as household appliances and cars even if they take loans to purchase these products.

5. Consumer behaviour varies from product to product. These changes refer to the taste and preference of different consumers and through different age groups of consumers such as the teenagers' choice is totally and entirely different with middle aged. Generally teenagers spend on cell phones and heavily spend on trendy and branded products.

Whereas, middle-aged consumers think about savings, pension schemes and also insurance schemes but they heavily spend on the product which is durable and for a long time sustains the product they purchase.

6. The knowledge of consumer behaviour is crucial for marketers, information regarding consumer behaviour enables marketers to determine their product requirements, price etc.

Note: The above used picture is not my individual or personal property. This image is generally used for illustration purpose.

Related Articles:

Written Communication: Advantages and Disadvantages

What is Planning in Management? Definitions and Objectives of Planning

Advantages and Disadvantages of Formal Communication