Discuss About The International Journal On Consumer Behaviour?
Consumer behaviour can be understood as to how the people, groups, organisation, society, community select, buy, use, consume ideas, goods and services to satiate needs and wants. It refers to the actions which the consumers take in the marketplace and what are their motives behind the same. It’s actually very interesting to notice and analyse, how customers identify their needs, and what goods and services they pick to satisfy those needs (Horner & Swarbrooke, 2016)
Marketers, on the other hand try to predict the behaviour of consumers before launching a particular product or services, to introduce new product in the marketplace by understanding the consumer behaviour and thus provide consumers with the product or services they identify with in their mind. (Solomon ,2014)
In this report further, we will understand different models of consumer behaviour, which will make us, understand the purchasing behaviour of consumers. These models will help to identify how consumer thinks, what they needs give preference to, what are the latent needs and so on.
There are multiple factors which influence customer behaviour, before diving into the models, lets briefly see the elements influencing consumer behaviour
Models of consumer behaviour: They can be categorized in 2 categories, Traditional & Contemporary.
Economic Model: This model states that a consumer focuses on getting maximum benefits while minimizing the costs. Thus the behaviour solely depends on his purchasing power. Hence the marketers here try to launch the product keeping in mind the competitors pricing and the maximum amount of money a consumer can spend out of his pocket. It can be understood as, if a customer gets a similar product for a lower price, he will surely buy that product, considering maximisation of his benefits at a lesser cost (Boland, 2014)
Learning Model: The model is based on the assumption that the consumer behaviour is constrained by the need to satisfy his basic and his learned needs. Food, shelter and clothing forms the part of basic need and fear and guilt constitute learned needs. A customer will thus first fulfil the need that will provide him satisfaction .For example a hungry customer would first look to satisfy his hunger and then move to some of his expensive needs (Ho & Bodoff, 2014)
Psychoanalytic model: As the name suggest, it is a model which states that the behaviour his influenced by his conscious & sub conscious. The extent of consciousness (id, ego & superego) works towards influencing consumer behaviour towards his buying decisions. For example, a customer may get subconsciously hook towards the logo or some values associated with the company and hence end up buying that company’s product over any rival brand (Gunter & Furham, 2014)
Sociological model: This is the model which stats that his buying behaviour is influenced and controlled by the society. The culture shapes his buying behaviour. To prove, a team manager and his team member may have different buying behaviour if they are working in the same company because of the position and the roe, but if they both are living in the same society and go to same places, they might end up buying the same products (Chen & Tung, 2014)
Howard-Sheath model: Undoubtedly the contemporary model of the recent times; it focuses on the idea of stimulus-response to explain buyers brand choice behaviour over some time duration. There are 4 variables in this model
The Engel, kollat & Blackwell model: The hypothesis for the EKB model can be seen as the customer’s perception of a want that must be satisfied. This then stimulates the search for information, internally (In his memory), externally from his friends, colleagues, neighbours and also from the market (advertisement, marketing collateral etc.). The process of search then identifies various ways in which the needs and the wants can be satisfied, thus leading the customer setting for the criteria by which he evaluates certain alternatives for the product , leading to emergence of attitude and beliefs which ultimately determines his choice (Wu & Zheng, 2016)
The Nicosia model: In this model, human being is treated as a system, with input as its stimuli and his behaviour as the output. The assumption of this model is based on the marketing view point of a consumer. It focuses on how the firm establishes its brand or product in the head of consumer and influences his purchasing power leading to the product usage and evaluation on a certain criteria. (Chand, 2016)
Managerial Implication : In the age of big data, marketers must have access to all the consumers data related to their buying behaviour, the media they consume and give weightage to over others, to develop great communication strategies to target the customer. Based on the data marketers can analyse what product customers buy, what needs the customer gives more heads to, this will help the marketers come up with the right strategy to target the customers. Also, with the use of different consumer buying behaviour models, the understanding of consumers though process becomes easier and hence the positioning and the segmentation can be done accordingly. This goes a long way to satisfy the customers. Thus the right set of data, breaking it down to valuable information would help managers to understand the buying behaviour and pattern (Oliver, 2014)
Conclusion: Customer is the king, he was and he will always be, hence it becomes really important to delve in the mind-set of customers in order to come up with a set of product or services which he would instantly consume. The consumer behaviour refers to that action that influences his behaviour towards buying particular product or services and giving a preference over competitors. The buying behaviour models, when understood with great clarity really helps the brands come up with relevant product and services for the customers. Hence, it is established that consumer buying behaviour models, in a great way helps the companies to come up with brilliant strategies to segment, target and position the product in the mind-set of the customer.
Boland, L. A (2014), The Methodology of Economic Model Building (Routledge Revivals): Methodology After Samuelson, Routledge.
Cantallops, A.S. and Salvi, F 2014, New consumer behavior: A review of research on eWOM and hotels, International Journal of Hospitality Management, 36, pp.41-51.
Chand, S.(2016), Model of Consumer Buying Process: Nicosia Model, McGraw.
Chen, M. F & Tung, P. J (2014), Developing an extended theory of planned behavior model to predict consumers’ intention to visit green hotels, International journal of hospitality management, 36, 221-230.
Gifford, R & Nilsson, A.(2014), Personal and social factors that influence pro?environmental concern and behaviour: A review, International Journal of Psychology, 49(3), 141-157.
Gunter, B & Furnham, A (2014), Consumer Profiles (RLE Consumer Behaviour): An Introduction to Psychographics (Vol. 5), Routledge..
Ho, S. Y & Bodoff, D (2014), The effects of Web personalization on user attitude and behavior: An integration of the elaboration likelihood model and consumer search theory, MIS quarterly, 38(2).
Horner, S & Swarbrooke, J (2016), Consumer behaviour in tourism, Routledge.
Oliver, R. L (2014), Satisfaction: A behavioral perspective on the consumer, Routledge.
Solomon, M.R 2014, Consumer behavior: Buying, having, and being (Vol. 10), Upper Saddle River, NJ: Prentice Hall.
Vigneron, F. and Johnson, L.W 2017, Measuring perceptions of brand luxury. In Advances in Luxury Brand Management (pp. 199-234), Palgrave Macmillan, Cham.
Wu, X. & Zheng, Y (2016), Social factors that influence consumers’ decisions when buying second-hand cars in China—Based on EKB model, International journal on consumer behaviour, vol 5
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