The document discusses key concepts in consumer behavior including factors that influence consumer decision making such as psychology, sociology, anthropology, economics and marketing. It notes that consumer behavior must be studied because customers can no longer be taken for granted given high failure rates of new products. Managing requires understanding consumer motivation and behavior, which varies greatly across cultures preventing standardization of marketing approaches. Unless companies adapt to understand consumers, even the most successful companies can fail by repeating past behaviors without realizing changes in consumer preferences and behaviors over time.

1. Consumer Behaviour

3. Why do we need to study Consumer Behaviour? Because no longer can we take the customer/consumer for granted.

5. All managers must become astute analysts of consumer motivation and behaviour

6. Can Marketing be standardised? No. Because cross - cultural styles, habits, tastes, prevents such standardisation.

7. Unless Managements act The more successful a firm has been in the past, the more likely is it to fail in the future.

8. Why? Because people tend to repeat behaviour for which they have been rewarded.

11. Buyer Behaviour Consumer 4Ps Marketing Environment Buyer Characteristics Buyer Decision Process Buyer Decision

12. Marketing Stimuli 4 Ps Product Price Place Promotion

13. Other Stimuli Marketing Environment Economic Technological Political Cultural