Unit 2:- Retail Consumer
Structure
2.0 Objectives
2.1 Introduction
2.2 Meaning of Consumer Behaviour
2.3 Need for Understanding Consumer Behaviour
2.4 Distinction Between Buyer and Consumer
2.5 Factors Influencing the Retail Consumer Behaviour
2.5.1 Psychological Factors
2.5.2 Personal Factors
2.5.3 Social Factors
2.5.4 Cultural Factors
2.6 Stages of Consumer Buying Decision Process
2.7 Influence of Situational Variables on Shopping Behaviour
2.8 Consumer Images of Retail Stores
2.9 Let Us Sum Up
2.10 Terminal Questions
2.0 OBJECTIVES
Guys, In this chapter, I describe every points very clearly so that you all understand all the concept very easily.
My main motive is to share my free notes to all the students.
Guys, agar ap exam ki preparation kr rhe ho or agar apko notes banane me problem ho rhi hai to ap mere free notes mese bhi concept padkr notes bana skte hai.
Or apko koi topic samaj nhi aarha ho to app mereko personally message bhi kr skte h, menu bar me mera instagram link h.
2.1 INTRODUCTION
* Retail Market:-
- Retail Market is the set of actual and potential buyers of a product/service.
* Retail Marketing:-
- Retsil marketing refers to human activity directed at satisfying needs and desires throguh exchange process.
* Retail Consumer:-
- The ultimate end user of a product/service offered by a retailer is called retail consumer.
2.2 MEANING OF CONSUMER BEHAVIOUR
- As we know that we all are consumers.
- Our tastes and preferences, likes and dislikes are all different.
- Consumer behaviour can be defined as those acts of individuals (consumers) directly involved in obtaining, using, and disposing of economic goods and services, including the decision processes that preceed and determine these acts.
2.3 NEED FOR UNDERSTANDING CONSUMER BEHAVIOUR
- Consumer behaivour is helpful in understanding the purchase behaviour and preferences of different consumers.
- A consumer only buy those products and services which satisfy their needs either wants.
- In todays time, a consumers tastes changes day by day(very rapidly).
- To survive in such rapidly environment, a firm has to understand the latest consumer trends and tastes.
- Consumer behaviour provide invaluable clues and guidelines to retail marketers on new technological frontiers which they should explore.
2.4 DISTINCTION BETWEEN BUYER AND CONSUMER
* Buyer:-
- The person who purchase any product or service is known as buyer.
* Consumer:-
- The person who consumes or uses any product or service is known as consumer.
* Sometimes a person who purchases the product is not the person who actually consumes or uses that product.
*Example:-
- A mother buys toys for her childrens, In that case, mother is buyer and the consumers are there childrens who actually consumes or play with that products.
Initiator:-
- Initiators are those who suggests or gets the idea for buying a product or service.
Influencer:-
- Influencer are those who tells something about the product as feedback.
- And there words plays very important role like their advice about the product carries some weight in making the final decision for consumer/buyer.
Decider:-
- The decider is the person who ultimately determines any part or the entire buying decisions whether to buy or not, how to buy, where to buy, etc.
2.5 FACTORS INFLUENCING THE RETAIL CONSUMER BEHAVIOUR
- Consumer behaviour is a function of the interaction of consumers personal influences and the pressuer exerted upon them by outside forces in the environment.
- All the factors that influence the retail consumer behaviour can be classified into four broad groups:
1. Psychological factors,
2. Personal factors,
3. Social factors,
4. Cultural factors.
1. Psychological Factors:-
- Before we know about psychological factors we should know about motive, When a need is sufficiently pressing, it directs the person to seek its satisfaction. It is knowwn as motive.
- Thus, motive are inner states that direct people towards the goal of satisfying a felt need.
- Psychological factors refer to the inner aspects of an individual.
Motivation:-
- The healthy person is primarily motivated by his/her needs to develop and actualise his/her fullest potentialities and capacities.
- Motivation is a prerequisite for any action including the buying.
- It stimulates the need.
- If you have illness you are motivated to buy a medicine.
- The need to have latest fashion in clothes, mobile phone etc, is also a motivattion.
Perception:-
- Perception is the process of the mind selecting, organising and interpreting and reality.
- We know that every person have five senses. They are see, hear, touch, taste and smell.
- To perceive is to see or hear or touch or taste or smeell something.
Attitudes:-
- Attitudes are a person's enduring ability favourable or unfavourable evaluations, emotional feelings to some object of idea.
- People use their attitude to judge a particular product or service offered by retailer.
- If a customer feels that a store is expensive or the services rendered are of low quality he/she avoids those stores.
- Reliability, stability, responsibility, dependability and credibility are the strong messages that a retailer is required to project.
- Emotions are extremely important as this drives buying.
Learning:-
- Learning is the process of acquiring knowledge through past experiences.
- If you visited a store, the treatment you receive there will be the criteria for your next visit.
- If a customer sees, hears, feels, tastes, or smells a product he/she learns more about the product and its attributes.
* Characteristics which affect a retail consumer's are:-
1. Age:-
- The factor that influenceing a buyer's decision is his age.
- The need for different products and services changes with age.
- Babies and childrens need special needs for products such as milk powder, baby foods and toys.
- Young adults needs clothes, educational facilities, transportation and other facilities.
2. Sex:-
- There are certain psychological difference between men and women which is resulting for their having diffent consumption needs.
- Each gender has its own need for specific products and services.
- Women need specialised medical facilities for pregnancy and delivery.
- Their requirements of clothes and cosmetics is different as compare to men.
3. Education:-
- An educated perosn is more likely to consume education facilities like books, magazines, and other knowledge oriented products and services.
4. Occupation:-
- Peoples have a different Occupation like some are paintere, some goes in music and dance, some are carpenters.
- They use different tools in their diffrent Occupations.
- But, apart from this specific needs, the status and role of person within an organization affects his/her occupation behaviour.
- Like, the CEO of a company would like to wear three-piece suits as well well shous, tie etc.
- But if we think about and employee they only wear formal dress, if there is a festival or functions then they wear suit but not in regular basis.
5. Income:-
- The income of a person has an extremely important influence on his/her consumption behaviour.
- If the income of a person is high then he will buy branded things and go in restaurent for eating foods either coffee, as well buy latest cars etc.
- But, If we think about a middle class person whose income is normal then he/she compromises with all these above tastes.
- Miidle class person would like to go in stall as compared to restaurent, goes in market as compared to malls, etc.
6. Personality:-
- According to a person's psychological traits, Characteristics, motives, habits, attitudes, beliefs and outlook. A consumer purchase decision changes.
- Some person want to becoming good-looking, so they buy good dress, good shoes, going gym, etc.
- But, some person don't like these things so they only buy normal things.
1. Reference Groups:-
- As a consumer, our decision to purchase and use certain products and services, is influenced by the people around us.
- We also influenced by the people in the social media.
- Means our purchase decision will easily influence directly and indirectly.
* There may be indirect groups and direct group reference.
1. Indirect refernce group:-
- Indirect reference groups comprise those individuals or groups with whom an individual does not have any direct face-to-face contact such as filmstars, TV stars, sportsmen, politicians, etc.
2. Direct reference group:-
- The individual is a member of the group.
- In direct reference group, the purchase decision and behaviour of the consumer can be classified into six categories:-
1. Family:-
- The family is an important consumer of many products which are purchased for consumption by all family members.
- It is a source of major influence on the individual member's buying behaviour.
2. Roles:-
- Every individual have different roles in different-different ares.
- Suppose you are the manager of a company, So you are the face of the company then you would like to wear branded suit, leather shoes, tie, belt, etc.
- And in home your roles may be different, you are somebodies son, somebodies brother, etc.
- So your work may be change and you wear comfortable clothes, like pajamas, kurtas, etc.
3. Status:-
- Each role that a person plays has status.
- If any person's income is high than his status in the society is also high.
- High status people's purchase decision is also great, they purchase branded clothes, cars, invest in real estate, etc.
4. Opinion Leaders;-
- A consumer is also influenced by the advice of the people around him/her.
- They may be his/her friends, neighbours, relatives and colleagues about what products and services he/she should buy.
- Marketers normally study three cultural factors are:-
1. Buyer's cultural factors:-
- The study of culture encompasses all aspects of a society such as its religion, knowledge, language, laws, customs, traditions, music, art, technology, work patterns, products, etc.
- All these factors make up the unique, distinctive, personality, of each society.
2. Sub-culture:-
- A sub-culture is an identifiable distinct, cultural group.
- Which while following the dominant cultural values of the overall society also has its own beliefs, values and customs that set it apart from other members of the same society.
3. Social class:-
- In every society there is social status amongst different people so the people are categorized into different social classes.
- Social classes can be defined as relatively permanent and homogenous divisions in a society in which individuals or families sharing values, life styles, interests and behaviour can be placed.
2.6 STAGES OF CONSUMER BUYING DECISION PROCESS
- In making a buying decision, the consumer goes through the five stages. They are:-
1. Need Recognition:-
- Generally, the need for a product starts at the time where we rocognise the need for that particular product.
- It arises when we are aware about our need for a product or services.
- A need may classified in:-
1. Psychological needs:-
- Psychological needs associate with personal gratification when you may owe the product.
2. Functional needs:-
- Functional need is directly related to the function of the product.
- A consumer only buy the product when they realize that his/her product does not satisfy his needs and the new product functions beats his/her product.
2. Information Search:-
- After recognising the need for a specific product or services the next step is to collect information about such product.
- Informations like product models, price, functions, brands, sizes, performance, after sale service and so on.
- The consumer may collect these information from the advertisements, sales persons, friends, families etc.
- Based on the information gathered the consumer goes to an other stage for evaluation of the information among the alternate options.
3. Evaluation of Alternatives:-
- There are certain evaluation criterias like:-
1. Product attribute,
2. The relative, importance of each attribute to the consumer,
3. Brand image,
4. Attitudes towards the different brands or alternatives under consideration.
4. Purchase Decision:-
- Sometimes it happens to every consumer when we go to buy our prefered product and the sales persons give us negative feedback about our prefered product and we buy his prefered products.
- So, we should focus on our purchase decision because in every moment our purchase decision about the product changes.
5. Post Purchase Behaviour:-
- If we feel satisfy,after purchasing the sales person's recommended product we increase our purchase decision of that brand.
- And we also recommend our friends and family about such brand it helps to increase the production of that brands product.
- On the other hand, our dissatisfaction review also affect the brands production.
6. Problem if any:-
- As a consumer if you find any lacunae while using the product you come to know in the post purchase stage.
- At this stage you evaluate the problem again whether your need is fulfilled or not.
- If it is not fulfilled, again you go back to the problem recognition and follow the cycle of buying process for complete satisfaction.
2.7 INFLUENCE OF SITUATIONAL VARIABLES ON SHOPPING BEHAVIOUR
* Situational Variables:-
- Situational variables refers to all those factors particular to time frame and place of observation which do not follow from a knowledge of personal (intra individual) and stimulus (choice alternative) attributes.
- Such attributes range from store location and layout time of day and the presence (or absence) of others.
- There can be classified into four distinct dimensions of situational influences.
1. Physical setting:-
- The physical setting covers geographical location of the retail outlet.
- But can also means the environment in which the consumer resides to access the shopping center.
2. Social setting:-
- The social setting describes the presence or absence.
- Together with their social roles, role attributes and opportunities of interaction.
3. Temporal setting:-
- This refers to the constraints such as time available for shopping and factors such as seasonal variables which is particularly visible in the context of both fashion shopping and perishable purchases such as milk purchased normally at day time and fashion appeal at the later part of the day.
2.8 CONSUMER IMAGES OF RETAIL STORES
- A consumer's image of the stores is the summation of his attitude towards various aspects of the store.
- Every retail store has an individuality that differentiates it from its competitors.
- A retailer must device the strategies to communicate its individuality across its target segment of consumers to build confidence in its merchandise and services.
* Retail Image Dimensions:-
- The dimensions which shape relevant consumer attitudes for a retail store are:
1. Location convenience which covers the following determinants:-
- Access routs
- Traffic barrier
- Fravel time
- Parking availability
2. Merchandise suitability:-
- Number of brands stocked
- Quality of line of merchandise
- Breadth of assortment
- Depth of assortment
- Number of outstanding departments in the store
3. Price Points:-
- Price of item
- Price of same item in other store
- Trading stamps or coupons and discounts
4. Sales force and services:-
- Courtesy of sales force
- Product knowledge of sales force
- Reliability of advertising and match with attributes.
- Billing procedures
- Adequacy of credit arrangement
- Delivery promptness and care
- Eating facilities in store
5. Congeniality:-
- Store layout
- Store decor
- Merchandise displays
- Class of customers visiting stores
- Store traffic and congestion
6. Post transaction satisfaction:-
- Satisfaction with goods in use
- Satisfaction with return and adjustments
- Satisfaction with price paid
- Satisfaction with accessibility of store.
2.9 LET US SUM UP
Guys after understand this chapter you easily make a short note about Retail Scenario.
And i think you should write a short note about this chapter.
2.10 TERMINAL QUESTIONS
Guys whenever our papers last month come, I give you question papers(free).
Abhi ke liye yahi padlo or papers ki tyaari krlo.
instagram:- abhishek0212gupta
 | IGNOU Study Notes){kind=link}
0 Comments