FYBMS, SYBMS, TYBMS and beyond BMS
Personal Factors influencing Consumer Behavior:- A buyers decision also influence by personal characteristics notably the buyers’ age and life cycle stage, occupation, economic circumstance,...
The process by which a person required to make a choice from the various alternative options is referred to as decision-making. For example: From...
Decision-Making Models: Models which help in understanding the consumer behaviour are: Economic model Psychological model Pavlovian model Sociological model Howard-sheth model Engel-Black well-kollat model...
Reference group:- Reference groups are the social, economic or the professional groups that have a direct and indirect influence on the person’s attitudes or...
Cultural Factors Influencing Consumer Behavior:- “Culture is everything” The reason is that there is nothing in one society which can be excluded from the...
Model of family decision making: This model depicts how family members interact with each other in the context of their consumer decision making....
The Engel-Kollat-Blackwell Model: This model consists of five steps or activities which occur over a period of time. They are: Problem recognition Information search...
Nicosia model: This model tries to explain the behaviour of the buyer by establishing a link between the organization & its prospective consumers....
Sociological Model of Consumer Behavior: It depends on the factors like: Family Friends & Close colleagues Other than the above mentioned 3 factors...
Economic model (Marshallian model) : According to economic theory, the buyers are assumed to be rational in their decision making. They follow the law...
