Analyzing Consumer Markets

“Consumer behavior is the study of how individuals, groups and organizations select, but,use and dispose goods services, ideas or experiences to satisfy their needs and wants”. Consumers make many buying decisions every day. A consumer buyer’s behavior is influenced by cultural, social and personal factors.Cultural factors exert the broadest and deepest influence.

Characteristics affecting consumer behaviour

Social class- Sunsilk is good in the market about to the social environment. Sunsilk looks after all issues related to social and environment. Sunsilk take care of its employees about their health and safety and it has decreased the % of accidents happened on work.

Sunsilk is very conscious about its customers so Sunsilk make quality products. So company has maintained good social and environmental standards in the market. Company is also doing so many social welfare works like world food programme.

Cultural factors- Sunsilk affected by cultural factors because people in different cultures like different products like in cities people like all quality products but mostly in rural areas people are not aware about quality products. Some people tend to believe in a product launched by a big, famous and powerful company.

Political: Sunsilk has a good relationship with government. Any country’s government impose tax and some other fiscal burden on the companies but Sunsilk is giving all taxes and accepting all government’s policies. Sunsilk does its entire works like production, employees under the government policies.

Economic: Sunsilk is growing in the Western European. So in these countries competition is increasing and customers want good quality and cheap products. So Sunsilk has all quality and cheap products that by Sunsilk is growing in these countries. But in some countries like France and Netherlands, company is facing difficulties during to competition.

Technological: Sunsilk has good improvement on information technology. Sunsilk using information technology for improving brand image and quality of its products.It is good source of success of Sunsilk and different from its competitors.

The buyer decision process

Need recognition – This is the first stage of the buyer decision process in which the consumers recognize a problem or need of using shampoo to protect his/her hair from drying, or for cleaning by nourishing the hair.

Information search – if a customer’s decides to buy a shampoo, he takes info from several sources.

Personal source (family, friend, neighbour etc.)

Commercial sources (advertising, sales people and dealers)

Public sources (mass media)

Experimental sources (handling, examining)

Evaluation or alternatives– The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set. E.g. it can be price, quality, reputation etc.

Purchase decision

The buyers decision about which brand to purchase. In the evaluation stage consumer ranks brand and forms purchase intentions. In executing a purchase intention, the consumer makes up to five subdivisions: brand (brand A), dealer (dealer 2), quantity (one computer), timing (weekend), and payment method (Credit card).