Consumer Behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. It attempts to understand the decision-making processes of buyers, both individually and in groups.
1. Module Name: - Consumer Behavior.
Module Code: - MKT 2303
Submitted To:
Suhal Ahmed
Lecturer, Department of FDT.
Shanto-Mariam University of
Creative Tech.
Submitted By:
Saha nuaz Sharif
I’d: 183051068
Group: E
Semester: 5th
Batch: 34th
Submission Date: - 25/08/2020
Topics: - Digital Revolution in the Marketplace.
2. Acknowledgment
The successful and final outcome of this assignment required lots of
guidance and assistance from many people and I’m extremely fortunate
to have completed my assignment work. Whatever done is only due to
such guidance and assistance and I should not forget to thank them. I
respect and thank my Lecturer, Suhal Ahmed at first place for giving me
an opportunity to do this assignment and providing me support and
guidance through which I could complete the assignment in time. I’m
extremely grateful to her for providing such co-operation.
Last but not the least, I would like to express my gratitude to my
friends, teachers, parents for their support and willingness to spend
their important time with us.
Saha nuaz Sharif
27, Aug 2020
3. Consumer Behavior is the study of individuals, groups, or organizations
and the processes they use to select, secure, and dispose of products,
services, experiences, or ideas to satisfy needs and the impacts that
these processes have on the consumer and society. It attempts to
understand the decision-making processes of buyers, both individually
and in groups.
As a consequence of the digital revolution
the consumer behavior is changing.
Digital Revolution in the Marketplace-
4. ➢ Allows customization of products, services, and promotional
messages like never before.
➢ Enhances relationships with customers more effectively and
efficiently.
➢ Has increased the power of customers and given them access
to more information.
➢ Changes in segmentation strategies.
➢ Re-evaluation of promotional budgets.
➢ Integrated marketing becomes critical.
➢ Consumer research methods may change Web-based
promotions measurement.
Changes in the Business Environment
➢ Increased consumer power.
➢ Access to information.
➢ More products and services.
➢ Interactive and instant exchanges.
➢ Access to customer patterns and preferences.
The old buying
processes –
This was the “old” model
a linear path from the first
“contact” with brand
to the final purchase act.
5. SITUATIONS –
Today customers get in touch with brands in various situations
- be it relaxed at home or in a hurry while travelling. They may live in a
big city or in a small town where the next retailer are miles away.
The new path
6. Customers are now smarter, and the path is more complicated! There
are so many different touchpoints and the path is no longer linear.
the digital revolution has changed the way we live. Based on
this big change, Google has developed the “zero moment of
truth” a new way to rethink the marketing model.
A new theory: ZMOT-
ZMOT is that moment when you grab your laptop, mobile phone or
some other wired device and start learning about a product or service
(or potencial boyfriend) you’re thinking about trying or buying. I’m sure
you know what I mean - you probably do web searches like this every
day.
7. BUT...
Would it surprise you to know that a full 70% of Consumers now say
they look at product reviews before making a purchase?
BUT...
Or that 79% of consumers now say they use a smartphone to help with
shopping?
consumer behavior on Facebook-
52% of consumer
over 18 spend at
least one hour a
week on Facebook.
consumer behavior on Facebook-
People interact with
their favorite brands
on Facebook far
more than other
social networks.
consumer behavior
on Facebook-
8. A recent study by Sociable Labs which included 1088 online shoppers
revealed that social sharing is as helpful as Google search in shopping.
Social Sharing is a Vital Activity for Discovering What to Buy 62% of
online shoppers read their friends product related comments on
Facebook.
Social Sharing Causes Consumers to Act
75% of shoppers who read
social sharing comments have
clicked on the product link in
their friends’ Facebook posts,
taking them to the product
page on a retailer’s website.
53% of the shoppers who have
clicked through to the
retailer’s site.
➢ Most twitter users
are selective about
brands they follow;
79% follow fewer
than 10 brands.
9. ➢ Twitter users are
frequent online
users overall; 50%
go online more than
once an hour.
➢ 60% of followers
say they’re more
likely to
recommend a
brand to a friend
after following.
Consumer buying behavior is a mental orientation that makes the
approach of choices by the researcher. Technological advancement has
been having great impact of buying behavior and purchase patters of
consumers. Due to smart technologies, companies can easily and
quickly spread their promotional message and hit their target market
consumers. They can benefit by technological advanced options to
carry out activities. Internet and social networking websites are
important tool for marketing contemporary organizations. A successful
marketing strategy in modern world organizations, need to consider
10. important factors such as high technology products, cultural
backgrounds of target consumers and demographics of target
consumers as well.