SUBJECT : CONSUMER BEHAVIOR

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SUBJECT : CONSUMER BEHAVIOR

COURSE : Total Marks : 80

N.B. : 1) There are 4 questions in paper.

2) All Questions are compulsory

Q. A) Explain the characteristics of Organizational buyers? State the factors affecting the same? Pleaseexplain the individual consumer buying behavior? (20 Marks)

Answer: Organizational characteristics are aspects of organizations that can be identified, usually in relation to performance. For example modern management theory would suggest that organizations with an organizational climate focused on clear organizational objectives, a clarity of organizational structure, with clear measurement systems enabling the monitoring of progress, with a clear organizational commitment to goal achievement etc would perform better than organizations without these characteristics.

For companies to achieve long-term success, they must create and maintain healthy environments in the workplace. Healthy organizations understand that it takes a collaborative effort to compete in their market segment and produce continuous profits. Healthy organizations have certain characteristics ingrained in their corporate culture. Recognizing and understanding the characteristics of healthy organizations can help you detect problems in

Q. B) Define & explain the following with respect to consumer behavior, with examples (20 Marks)

1. Attitude

2. Relation between Attitude,belief& behavior

Answer: Culture is one factor that influences behaviour. Simply culture is defined as our attitudes and beliefs. But how are these attitudes and beliefs developed? As an individual growing up, a child is influenced by their parents, brothers, sister and other family member who may teach them what is wrong or right. They learn about their religion and culture, which helps them develop these opinions, attitudes and beliefs (AIO) . These factors will influence their purchase behaviour however other factors like groups of friends, or people they look up to may influence their choices of purchasing a particular product or service. Reference groups are particular groups of people some people may look up towards to that have an impact on consumer behaviour. So they can be a singer like the Lady Gaga or your immediate family members. Opinion leaders are

Q. C) Please explain: (20 Marks)

Q. 1. Five distinct stages in the buying decision process.

Answer:The purchase is only the visible part of a more complex decision process created by the consumer for each buying decision he makes. But what happens before and after this purchase? What are the factors influencing the choice of product purchased by the consumer?  Today, let’s focus on the Consumer Buying Decision Process and the stages that lead a shopper to purchase a new product.  Engel, Blackwell and Kollat ​​have developed in 1968 a model of consumer buying decision process in five steps: Problem/need recognition, information search, evaluation of alternatives to meet this need, purchase decision and post-purchase behavior.

Q. 2. Personal factors affecting behavior.

Answer:Possibly the most challenging concept in marketing deals with understanding why buyers do what they do (or don’t do). But such knowledge is critical for marketers since having a strong understanding of buying behavior will help shed light on what is important to customer and also suggest the important influences on customer decision making.

There are many factors that can affect Buying process of a customer, let us shed some light on some personal factors which influence the buying process of the customer.

Age and Life cycle Stage:Like the social class the human life cycle can have a significant impact on consumer behaviour. The life cycle is an

Q. 3. Buying process.

Answer:It is a set of procedures used to identify products for purchase, verify quality and compliance of products and vendors, carry out purchasing transactions, and verify that operations associated with purchasing have been executed appropriately. Different organizations have buying processes of varying complexity, depending on the industry in which they work and the nature of the products being purchased. The Customer Buying Process (also called a Buying Decision Process) describes the process your customer goes through before they buy your product. Understanding your customer’s buying process is not only very important for your

Q. D) Explain. (20 Marks)

1. Actual Vs reference price

Answer:Actual and reference price orReal prices and ideal prices refers to a distinction between actual prices paid for products, services, assets and labour (the money that actually changes hands), and computed prices which are not actually charged or paid in market trade, although they may facilitate trade. The difference is between actual prices paid, and information about possible, potential or likely prices, or "average" price levels. This distinction should not be confused with the difference between "nominal prices" (current-value) and "real prices" (adjusted for price inflation, and/or tax and/or ancillary charges).

Ideal prices, expressed in money-units, can be "estimated

2. Semiotics

Answer: Semiotics (also called semiotic studies; not to be confused with the Saussurean tradition called semiology) is the study of meaning-making, the philosophical theory of signs and symbols. This includes the study of signs and sign processes (semiosis), indication, designation, likeness, analogy, metaphor, symbolism, signification, and communication. Semiotics is closely related to the field of linguistics, which, for its part, studies the structure and meaning of language more specifically. As different from linguistics, however, semiotics also studies non-

3. Functions of attitude

Answer: Attitudes serve four major functions for the individual: (1) the adjustments function, (2) the ego defensive function, (3) the value expressive function (4) the knowledge function. Ultimately these functions serve people’s need to protect and enhance the image they hold of themselves. In more general terms, these functions are the motivational bases which shape and reinforce positive attitudes toward goal objects perceived as need satisfying and / or negative attitudes toward other objects perceived as punishing or threatening. These situations are diagrammed in Figure below. The functions themselves can help us to understand why people hold the attitudes they do toward psychological objects.

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