CONSUMER BEHAVIOUR

ASSIGNMENT
ANSWER 1 :

A solitary promoting effort isn't probably going to speak to everybody.

What intrigues a solitary, 18-year-old school first year recruit will be
completely not the same as what draws in a 45-year-old lawyer who's
hitched with youngsters.

Understanding these similarities and differences enables you to disengage

the market into individual classifications and make explicit selling focuses
as needs be. This makes your crusades progressively exact in light of the
fact that you can concentrate exclusively on serving littler, increasingly
refined sections.
Of the four main types of marketing segmentation, we will
focus on Demographic and Psychographic segmentation :
Demographic Segmentation?
Demographic division partitions the market into littler classes dependent on
statistic factors, for example, age, sex and salary. Rather than achieving a
whole market, a brand utilizes this strategy to center assets into a
characterized gathering inside that advertise.

Separating the market into littler sections, each with a typical variable,
enables organizations to utilize their time and assets all the more
proficiently. They can all the more likely comprehend the forthcoming
business sector, and use publicizing personalization to guarantee the
necessities of the focused on gathering are satisfied.

This client division strategy is a standout amongst the most usually utilized
in light of the fact that it's anything but difficult to secure through
registration information, investigation programming, purchaser bits of
knowledge, and the sky is the limit from there. It's likewise considered by
numerous organizations to be the least expensive approach to isolate an
objective market.

What Are Psychographics Segmentation ?

Psychographics are somewhat similar to socioeconomics. Psychographic data
may be your purchaser's propensities, leisure activities, ways of managing
money and qualities. Demographics explain “who” your buyer is, while
psychographics explain “why” they buy. Statistic data incorporates sexual
orientation, age, pay, conjugal status – the dry certainties.

You can possibly viably achieve your intended interest group when you
comprehend both their socioeconomics and psychographics. The mix of the two
arrangements of information begins to frame your purchaser persona – a point
by point image of the general population you work with now, and might want to
work with later on.

How PlanetFit can apply demographics and

psychographics to plan its segmentation strategy :

PlanetFit can apply demographics segmentation strategy to segmen their target

market , the five main demographic attributes they use :

1. Geography
Geographic segmentation cuts up your objective market dependent on their
geographic area. Since individuals have various needs and premiums crosswise
over geologies, similar to the requirement for chilly climate outerwear in
Minnesota or the interest for swimwear in South Florida amid the winter, it's
essential to see precisely how your objective market's various atmospheres,
scenes, and cityscapes sway their inclinations.
2. Age
Age segmentation cuts up your objective market by explicit age reaches or
ages, similar to Generation Z, Millennials, and Baby Boomers. The general
population in every one of these gatherings grew up amid a similar time,
experience practically identical encounters today, and offer comparative
attributes, propensities, and sentiments, so it's essential to disseminate
customized battles cooked for every age.

3. Education
Education segmentation cuts up your objective market by school, zone of study,
and certificate. A ton of brands focus by instruction in light of the fact that a
great many people have profound sentiments of dependability for their
institute of matriculation.

4. Occupation
Occupation segmentation cuts up your objective market by employment work,
work status, and occupation title. A great deal of B2B brands focus on their
group of onlookers by occupation since they have to draw in explicit kinds of
experts who have the specialist to settle on purchasing choices in their group
or at their organization.

5. Income
Income segmentation cuts up your objective market by pay extend. By knowing
how much optional salary your potential clients have, you can market to the
general population who can really manage the cost of your item or
administration, set your costs as indicated by their pay, and configuration
estimating levels for each cut of your objective market.

There are five psychographic segmentation variables on the

basis of which homogeneous segments can be prepared for
proper research –
Personality, Lifestyle, Social Status, AIO (Activities, Interests,
Opinions) and Attitudes.

Personality: Economic specialists can direct a division dependent on

personality to frame a gathering of individuals with comparable
personality characteristics. A couple of characterized identities are:
innovative, passionate, benevolent, stubborn, loner, social butterfly and so
on assistance associations to channel their clients in a precise manner.An
association can utilize this psychographic division variable to create items
as indicated by the greater part of the clients' identities which can help
in boosting deals.

Lifestyle: Different assets must be contributed if numerous items are

to be made for various markets. Be that as it may, item assets can be
spared if division is done based on way of life, item improvement can be
made increasingly dependable.

Social Status: In most cases, the social status of individuals

fundamentally chooses the items they use and their inclinations (when all
is said in done). Every social class has their decision of garments, shoes,
sustenance, autos, gadgets and so forth. For precedents, elitists would
for the most part lean toward solitaires, extravagance vehicles, occasion
homes and so forth. An extravagance vehicle brand would target just the
elitists and not the white collar class of individuals.

Activities, Interests, and Opinions: This psychographic division

depends on what exercises are the clients slanted towards, which points
are they energetically keen on or what are their feelings about explicit
issues. These parameters are called AIO (Activities, Interests and
Opinions).

Attitudes: An individual’s attitude is formed by the way he/she was

raised and their social foundation. Each imminent client will have an
alternate mentality which can be a variable for psychographic division.
 Demeanor is an elusive parameter which gives bits of knowledge into the
essential idea of a client.

Which demographic and psychographic segments

should PlanetFit target and why?

PlanetFit can apply psychographics segmentation strategy to segment their

target market, the five main demographic attributes they use.

Leading psychographic showcase division is a basic undertaking for business

advancement and subsequently, needs exceptional consideration. Each individual
has changed requests and suppositions. Brands must concentrate not just on
separating the market dependent on psychographics yet additionally to
associate with their objective market based on psychographics.

PlanetFit can possibly adequately achieve your intended interest group when
you comprehend both their socioeconomics and psychographics. The mix of the
two arrangements of information begins to frame your purchaser persona – an
itemized image of the general population you work with now, and might want to
work with later on.

Let’s create a very fundamental purchaser persona

dependent on what PlanetFit think about their optimal
client. Here goes !

Demographic Information:
Female
Aged 45-65
Married, with children
 Dealing with issues of weight gain, diabetes, lack of energy or hormonal
imbalance
Household income $100K+

Psychographic Information:

Concerned with wellbeing and appearance

Wants a sound way of life, however doesn't have much time
Enjoys going on the web in the nighttimes, huge fanatic of Pinterest
Tends to support quality over economy
Finds satisfaction in her vocation and family
Values time with a little gathering of companions

Looking at the two lists above, it’s easy to see why you need both. Use
demographics alone, and you have only a very hazy outline of your audience –
you understand her challenges, but not where to find her and what really moves
her to action. Psychographics gives you so much more insight!

ANSWER 2 :

Step of The Consumer Decision Making

Process :

Regardless of whether they're obtaining a morning meal grain or a games

vehicle, all customers experience fundamental advances, known as the shopper
basic leadership process, to figure out what items and administrations will best
meet their requirements. In the event that you work in deals or showcasing,
survey these means and place yourself in the client's shoes to have a greater
amount of an effect.
 Problem Information Alternatives
recognition search evaluation

Post-Purchase Purchase
Evaluation decision

Steps in the consumer decision process :

1. Problem recognition
The initial step of the buyer basic leadership process is perceiving the
requirement for an administration or item. Acknowledgment is driven by both
inward and outside upgrades.

When a purchaser perceives a need, they have to assemble data to see how
they can satisfy that need.

2. Information search
Your shopper has perceived a need. Presently comes the undertaking of social
event data. Shoppers again depend on interior and outside variables, just as
past associations with an item or brand, both positive and negative, to settle on
their choice. In the data arrange, the shopper may peruse through alternatives
at a physical area or counsel online assets, for example, Google or client audits.
3. Alternatives evaluation
Now in the shopper basic leadership process, the imminent purchaser has
created criteria for what they need in an item. Presently they gauge their
planned decisions against similar choices.

Options may introduce themselves as lower costs, extra item benefits, item
accessibility, or something as close to home as shading or style alternatives.
Your showcasing material ought to be outfitted towards persuading customers
that your item is better than different options.

4. Purchase decision
This is the minute the shopper has been hanging tight for: the real buy. When
they have assembled every one of the certainties, including input from past
clients, the buyer ought to touch base at an obvious end result on the item or
administration to buy.

5. Post-purchase evaluation
This piece of the customer basic leadership process includes reflection from
both the shopper and the vender. As a vender, you should endeavor to measure
the accompanying:

•Did the buy address the issue the customer recognized?

•Is the purchaser content with their buy?

Keep in mind, you must guarantee your client keeps on having a positive
involvement with your item. Post-buy commitment could incorporate follow-up
messages, markdown coupons, and pamphlets to allure the client to make an
extra buy. You need to pick up deep rooted clients, and during a time where
anybody can leave an online audit, it could easily compare to ever to keep clients
cheerful.
Step of Decision Making Journey for Buying SUGAR:

Problem recognition – I
have a Joint family of 10
people. Sugar is one thing which
is used in variety of food
making, such as making tea,
sweet, juice, milk, food etc.
Recognizing how much sugar we
need to buy for a month and
importantly the quality of
product at reasonable price is
the first step.

Information search – So for buying the right sugar quality at best price,
visiting various stores is the next step and knowing the variety of quality
of sugar available in market and their prices.

Alternatives evaluation – Now the next steps is to list down the sugar’s
that I found in the market that are available at various prices and
quality.And also list down the discount price of different sugar

Purchase decision – After the evaluation of the list. I have to choose the
best sugar quality at best price that suits my family budget and uses for
making various food.

Post-purchase Evaluation – The final step is to know weather the quality

I chose is right according to the use, product quality, price etc. And if not
the choose another product of the same.
Step of Decision Making Journey for Buying
Aftershave Lotion:

Problem recognition – Going to

barber is also not a good deal for a
middle-class man. As a working man in a
corporate we need to look good and
shaved and for that we need to shave 3
times a week. So shaving at home is the
best and the ECONOMICAL way.

Information search – For buying

the most suited and the budget quality of
after shave I need to search online for different brands and there prices
or need to go to supermarket where I can find different product at one
place.

Alternatives evaluation – In this step I need to evaluate the products

that are available in the markets that suits my budget and my skin at the
best discounted rate.

Purchase decision – After listing down all the alternative one product is
choosed which I think is best suited to my need and my budget.

Post-purchase Evaluation –After using the product for a week, i’ll be able
to know weather this product is good for me or not, if not then I will
choose another product of same price range
Step of Decision Making Journey for Buying
Smartphone:

Problem recognition – As a
youth and working in a corporate,
and clicking lots of photographs
and watching movies online I need
to have a phone which has good
graphics, memory space and a
smooth working processor.

Information search – For all

the need in one phone with a nominal budget I need to find a phone online
or on stores that provide me the maximum benefit into my budget.

Alternatives evaluation – As there are various product that provides me

the quality of phone I want now I have to list down all the brands that I
prefer to buy.

Purchase decision – After listing down all the phone now I have to select
the phone that is reliable and will run for a long period of time with
fulfilling my need.

Post-purchase evaluation – Running the phone for a month I will be able

to evaluate weather the decision was right for choosing this phone, if not
then I can choose different phone for the same price of different brand.
ANSWER 3A :

Hardly any choices are made in a vacuum. Where we live, where we work, the
vehicles we drive, and the toothpaste we use frequently are the consequences
of what we hear and who we address. It may not be logically inferred, however
recounted data vigorously impacts our decisions.

It makes sense, at that point, that organizations will showcase products and
ventures dependent on the attributes of those with whom we share our lives.
They could be associates, cohorts, or neighbors. Moreover, they could be
companions from the exercise center, individual affiliation individuals, or
favored big names. In the event that we can relate to them, they can be
considered a reference gathering.

Defining Reference Groups :

Showcasing teacher Lars Perner of the University of Southern California fights
that three variables decide ID with a reference gathering. There are a few
people, for instance, that we may appreciate or seek to resemble.

These incorporate motion picture stars, tip top competitors, and open expert
figures. We may not know them, yet despite everything we tail them. Others
are nearer to our own circles, for example, individuals we partner with due to
what we hold in like manner: age gatherings, religious beliefs, and political
affiliations.

At long last, reference bunches are resolved based on disassociation. Numerous

young people, for instance, effectively look to distinguish separated from their
parental ties. Nonvoters, similarly, avoid community cooperation since they feel
estranged from the predominant political framework. Desire, affiliation, and
disassociation each add to the customer profile.

Types of Groups :
Reference gatherings can be sorted from multiple points of view. A key
refinement is among formal and casual reference gatherings, the previous
comprising of clubs, associations, and religious cooperations, while the last
regularly is included companions or partners. Now and again, a reference
gathering can be what is called a sentiment head, for example, a demigod or
well known lawmaker, who draws in enthusiasts.

Gatherings additionally can be separated into essential and auxiliary status,

contingent upon how much impact they convey with a given individual. Different
ideal models incorporate educational, regulating, and distinguishing proof
reference gatherings. Enlightening gatherings depend on learning achieved;
regulating, on desires met, for example, when organization workers fit in with a
clothing regulation; and recognizable proof, on a craving to have a place.

2 Groups That Influence My Purchases :

Primary Groups :
Primary reference bunches are fundamentally the arrangement of individuals
whom you meet each day. They can be from your family, your dear companions,
your flat mates, and so forth.

These individuals from Primary gatherings may have an immediate and solid
effect in your lives and your purchasing choices since they are huge to you.
Primary gatherings make you agreeable and give you an inclination that they are
with you when you are befuddled about a buy. These individuals give you
legitimate and clear advices as they are so near you, because of which you
could be increasingly certain about the buy. Research demonstrates that the
security between individuals drives individuals to be viably social and as
fulfilled customers.

Aspirational Group :
Aspirational group is the one to which an individual might need to turn out to be
a piece of. They at present are not part of that gathering but rather wish to
move toward becoming and get with that gathering. For doing likewise, they
attempt to dress, talk, act and even think the manner in which the individuals
from that bunch do.
For instance, individuals who like Madhuri Dixit wish to end up like her and
meet her thus begin buying and utilizing every one of those items that she
underwrites.

ANSWER 3B :

Maslow’s Theory of Motivation :

The basis of Maslow's theory of motivation is that people are roused by
unsatisfied necessities, and that specific lower needs should be fulfilled before
higher necessities can be tended to.

Needs at the base of the pyramid are fundamental physical prerequisites

including the requirement for nourishment, air, water, and rest. When these
lower-level needs have been met, individuals can proceed onward to the
following dimension of requirements, which are for safety and security. When
these requirements have been sensibly fulfilled, the individual might most likely
reach the following dimension, and inevitably after all the lower needs are met,
they can achieve the largest amount called self-actualization.

The Five Levels in Maslow’s Hierarchy of Needs:

Physiological Needs :

Physiological needs manage the support of the human body. This least
classification incorporates the most essential needs that are indispensable to
survival, for example, the requirement for water, air, sustenance, and rest.
Maslow trusted that these necessities are the most intuitive needs since all
needs turned out to be optional until these requirements are met. On the off
chance that we need water, at that point little else matters until we have
something to drink.

Examples of physiological needs: air, food, water, shelter, warmth, sleep, etc.

Safety and Security Needs :

Safety and security needs are tied in with protecting us from damage. These
necessities incorporate sanctuary, employer stability, wellbeing, and safe
conditions. On the off chance that an individual does not have a sense of
security in a domain, they will try to discover wellbeing before they endeavor
to meet any more elevated amount needs. These security needs are significant
for survival, yet they are not as significant as the fundamental physiological
requirements.

Examples of safety and security needs: safety, shelter, security, law & order,
employment, health, stability, etc.

Social Needs :
Social needs advance our inborn nature. These are the requirements for having
a place, love, warmth just as for associations with family and companions and
friendship.
These requirements are met through satisfying and satisfying associations with
others. Having fulfilled their fundamental physiological and security needs,
individuals can look for connections from which their requirement for adoration
and having a place can be met.

Examples of social needs: Belongingness, love, affection, intimacy, family,

friends, relationships, etc.

Esteem Needs :
After the more basic needs have been satisfied, esteem needs becomes
important to an individual. Once an individual have satisfactorily met their need
for love and belonging, they can begin to develop positive feelings of self-worth
and self-esteem.
These needs include self-esteem, respect, achievement, confidence,
recognition, and accomplishment.

Examples esteem needs: self-esteem, self-confidence, achievement,

recognition, status, respect, etc.

Self-actualizing Needs :
Self Actualization is the largest amount of Maslow's chain of importance. This
dimension of need relates to what an individual's maximum capacity is and
understanding that potential. "What a
man can be, he should be" is simply the premise of the apparent requirement
for self-realization. Maslow depicts this as the craving to move toward
becoming everything that one is fit for getting to be.

Examples of self-actualizing needs: realizing personal potential, self-

fulfillment, pursue talent, personal growth, peak experiences, creativity, etc.
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