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Consumer Behavior
Rating: 4.0 out of 5(82 ratings)
1,868 students
Created byManagement Study Guide
Last updated 8/2019
English

What you'll learn

  • Explain What is meant by Consumer Behavior
  • Describe the Types of Consumers
  • Explain Why do Consumers Buy
  • Explain the Importance of Consumer Behavior
  • Explain Role of Consumer Behavior in Loyalty
  • Explain the Model of Consumer Behavior
  • Explain Steps of Decision-Making Process
  • Explain How to Reduce Cognitive Dissonance
  • Explain Consumer Involvement in Buying Decisions
  • Explain the Types of Consumer Buying Decisions
  • Explain the Factors Influencing Consumer Behavior
  • Explain Role of Consumer Behavior & Satisfaction
  • Explain Role of Consumer Behavior for Relationship
  • Explain Role of CRM in Consumer Behavior
  • Explain Role of Consumer Behavior & Value Drivers

Course content

2 sections • 17 lectures • 1h 36m total length

  • Introduction4:52

    Explore consumer behavior, including decision making, types of buyers, loyalty, and CRM. See how Globus's smartphone market study applies these concepts to guide product strategy and value delivery.

  • Explain What is meant by Consumer Behavior1:18

    Understand consumer behavior as the study of processes behind purchase decisions, product use, and factors influencing choices. Analyze customer loyalty, brand loyalty, and product-specific or company-specific loyalty for relationships.

  • Describe the Types of Consumers3:17

    Identify the distinct consumer types by age, social background, economic background, and cultural background. Tailor your sales approach to each subgroup's mindset, needs, and buying decisions.

  • Explain Why do Consumers Buy5:50

    Learn why consumers buy by distinguishing needs and desires, and how logic appeals for needs contrast with emotions for desires to drive buying decisions.

  • Explain the Importance of Consumer Behavior10:27
  • Explain Role of Consumer Behavior in Loyalty10:27
  • Explain the Model of Consumer Behavior0:38
  • Explain Steps of Decision-Making Process13:10

    Explore the five stages of the consumer decision-making process—need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior—and how stimuli, marketing, and brand choice shape outcomes.

  • Explain How to Reduce Cognitive Dissonance6:13
  • Explain Consumer Involvement in Buying Decisions0:30

    Explore how consumer involvement shapes buying decisions, from routine response behavior to limited and extensive decision making, and how involvement levels influence decision types.

  • Explain the Types of Consumer Buying Decisions0:39

    Explore the three types of consumer buying decisions: routine, limited, and extensive, by comparing involvement, time, cost, information search, and number of alternatives.

  • Explain the Factors Influencing Consumer Behavior14:47

    Explore the four main groups of factors shaping consumer behavior—cultural, social, individual, and psychological—along with Maslow's need hierarchy, perception, motivation, learning, beliefs, and attitudes.

  • Explain Role of Consumer Behavior & Satisfaction6:30
  • Explain Role of Consumer Behavior for Relationship3:58
  • Explain Role of CRM in Consumer Behavior4:54

    Develop strategic crm to understand consumer behaviour and tailor interactions, while coordinating across finance, sales, manufacturing, distribution, and marketing to build a project team supporting requirement analysis for customer retention.

  • Explain Role of Consumer Behavior & Value Drivers8:53

    Analyze consumer behavior to foster four value drivers—value for time, value for attention, value in my life, and value of access delivered just in time—by tailoring marketing and product offerings.

Requirements

  • No prior knowledge is required.

Description

Every human being's subconscious mind is responsible for making decisions much before the conscious one interferes. ‘Consumer Behavior’ involves studying the processes a consumer uses to make purchase decisions, to dispose of purchased goods or services and study the factors that influence purchase decisions and the use of products. We will discuss in details about some important topics, like: Types of Consumers, Role of Consumer Behavior in Loyalty, Model of Consumer Behavior, Steps of Decision-Making Process, How to Reduce Cognitive Dissonance, Factors Influencing Consumer Behavior, Role of Consumer Behavior & Value Drivers.

You can analyze your consumers to understand consumer behavior to find out which customer value driver do they consider most important.

Based on your consumer behavior studies, you can then modify your marketing strategies and product offerings to foster the following four key customer value drivers:

Value for Time

Value for Attention

Value in my Life

Value of Access

As the consumer continues to deal with a brand for a long time, the brand tends to explicate a better insight of customer’s needs and expectations. Through this, a great relationship can be developed between them. This will result in selling of more products and retain the business with the consumers which finally leads to profitable business.

Who this course is for:

  • Business owners
  • Professionals interested in marketing, sales or advertising
  • Anyone interested in design, consumer behaviour or psychology

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