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Consumer Markets and Buying Behavior

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Ultimate Consumer• Ultimate Consumers

buy goods for their own personal or family use.

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Consumer Market

All the individuals and

households who buy goods

and services for personal

consumption.

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Consumer Buying Behavior

The buying behavior of the final consumers-- individuals and households who buy who buy goods and services for personal consumption

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Aim of Marketing?Satisfy the needs

And Wants of customers

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CONSUMER BEHAVIOR

How individuals, groups, and organizationsselect, buy, use, and dispose of goods,

services, ideas, or experiences to satisfy their

needs and desires

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Whirlpool’s color coded machine

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Lost Market

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What Do These Examples Show?

ScientificMethods

IntuitiveMethods

Customersfor developingnew products, product features,prices, channels, messages, and other marketing mix elements

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HOW AND WHY CONSUMERS BUY

Buyer’s Characteristics

CulturalSocialPersonalPsychological