1. Theorical Background
This part is the theorical background of our Term paper. We will focus on some article all over the world and we will take some parts of that article with the name of the author year and the page.
1.2. What is Consumer Behavior
Involves the process by which people determine whether, what, when, where, how, from whom, and how often to purchase goods and services.
A Framework provides an in-depth, yet succinct, discussion of the factors that influence the acquisition, consumption, and use of goods, services, and ideas by consumers. By understanding consumers, decision makers (i.e., managers, public policy makers, and researchers) can make informed decisions and develop strategies that jointly maximize consumer welfare and firm profitability.( John Mowen and Michael Minor 2001)
Consumer behaviour is the study of how people buy, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, sociopsychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
Belch and Belch define consumer behaviour as 'the process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires'.(wikipedia.org)
1.2.1. Basic model of consumer decision making
Consumer Decision Making
Stage Brief description Relevant internal psychological process
Problem recognition The consumer perceives a need and becomes motivated to solve a problem. Motivation
Information search The consumer searches for information required to make a...