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Overview of Consumer Behavior Analysis

The document discusses consumer behavior and provides an overview. It explains that understanding consumer behavior is essential for marketing managers. Consumers vary in age, income, education, mobility, and tastes. Marketers find it useful to segment consumers and develop products tailored to their needs. Consumer research helps decision makers improve product acceptability. Understanding how consumers will respond to different product features, pricing, advertising, etc. gives companies an advantage over competitors. The term consumer behavior refers to all psychological, social, and physical behaviors of potential customers as they become aware of, evaluate, purchase, consume, and discuss products and services.

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8 views5 pages

Overview of Consumer Behavior Analysis

The document discusses consumer behavior and provides an overview. It explains that understanding consumer behavior is essential for marketing managers. Consumers vary in age, income, education, mobility, and tastes. Marketers find it useful to segment consumers and develop products tailored to their needs. Consumer research helps decision makers improve product acceptability. Understanding how consumers will respond to different product features, pricing, advertising, etc. gives companies an advantage over competitors. The term consumer behavior refers to all psychological, social, and physical behaviors of potential customers as they become aware of, evaluate, purchase, consume, and discuss products and services.

Uploaded by

GANRSHKUMAR
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CHAPTER-III

CONSUMER BEHAVIOUR-AN OVER VIEW CONSUMER BEHAVIOUR

Understanding the buying behavior of the target is the essential task of the marketing manager. Under the marketing concept, the consumer market consists of all individuals and households that buy and acquire the goods and service for personal consumption. Consumers vary tremendously in age, income, educational level, mobility patterns and taste. Marketers find it useful to distinguish different consumer group or segments and to develop products and services tailored to their needs.

In earlier times marketers could understand consumers through the daily experience of selling to them. But the growth in size of the firms and marketers has removed decision makers from direct contact with consumers Increasingly, managers had to turn to consumer research to help make decision for improving the product acceptability. A company that understand how consumers will respond to different product-features, price, advertising appeals and so on will have an enormous advantage over its competitors therefore. MEANING

The term consumer behavior can be defined as all psychological, social and physical behavior of potential customer as they become aware of, evaluate, purchase, consume and tells others about product and services. In other words buyer behavior the acts of individuals directly involved in obtaining and using economic goods. These acts are the results of sequence of decision made by the buyer. These decision are influence by various factors. Hence the consumer behavior is the process by which individual decide whether, what, when, where, how and from whom to purchase goods and services.

CHAPTER-V
TABLE: 1

BY AGE PROFILE:

AGE OF RESPONDENCES 18-28 28-38 38-48 48-58 58-68 TOTAL

THE [Link] REESP 37 30 8 14 5 100

PERCENTAGE 37% 30% 8% 14% 5% 100%

INFERENCE:
From the above table, it is clear that 37% of the buyer belongs to the age group of 18-28 years followed by 28-38 years of the buyers 30% are using, 38-48 age groups 5%, and 48-58 Age groups 58-68 years age groups using 5%followed by Hero Honda bike purchasing most of Them are using.

CHAPTER-II

PROFILE OF HERO HONDA LIMITED:


HISTORY OF HERO HOND BIKES:

The term motor cycle usually refers to a self- propelled two wheeled vehicle most commonly powered by a gasoline fueled international combustion engine. The broad term also indicates MOPEDS, motorized bicycles that are fitted with pedals and have engines of less than 50 cubic centimeters (CC) displacement.

A motor cycle has a much heavier frame than a bicycle, the vehicle from which it was developed. People in many parts of the world use motor cycles for transportation or ride them for recreation and sport. Police department use motor cycles for pursuit and traffic control because these vehicles can be maneuvered easily through traffic. Most motor cycles call their machines Bikes, as some larger, specially built models are known as choppers,

Motor vehicle laws affect the operation of motor cycles as well as of automobiles and other type of vehicle. Most of the state provinces required cyclists to have a motor cycle operations license for which a person must pass a test. In some states and provinces, a motor cyclist needs only a regular drivers license. Many states and provinces required cyclists to wear safety helmets and goggles. Some U.S. and Canadian cities sponsor driving courses in motor cycle safety, and many high schools provide classroom instruction in motor cycles operation.

CONTENTS

CHAPTER NO.

TITLES
ACKNOWLEDGEMENT

PAGE NO.

LIST OF TABLES

LIST OF DIAGRAM

INTRODUCTION

CONSUMERBEHAVIOR - AN OVERVIWE DATA ANALYSIS AND INTERPRETION RESEACH AND METHODOLOGY PROFILE OF THE COMPANY FINDING, SUGGESTIONS AND CONCLUSION BIBLIOGRAPHY QUESTIONNAIRES

Common questions

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Consumer behavior research is critical in informing product development by identifying shifts in consumer preferences, attitudes, and desires. This research allows businesses to adapt their products to align with emerging trends and demands, ensuring relevance and appeal in the marketplace. It fosters innovation and strategic planning, thereby enabling companies to swiftly respond to changes and sustain competitiveness .

The profile of Hero Honda Limited, with its focus on motorcycles, highlights cultural trends favoring affordable, flexible transportation. Motorcycles are utilized for both recreation and practical commuting, reflecting a global trend where such vehicles are preferable for maneuverability in traffic and cost-efficiency compared to larger automobiles .

Demographic factors significantly impact the motorcycle market, as evidenced by the age distribution of buyers. The largest group, aged 18-28, suggests that youth-oriented marketing and product features targeting younger, potentially more adventurous consumers could be effective. In contrast, smaller age groups may require different marketing approaches that cater to their unique needs and preferences .

Segmenting consumers based on demographics such as age, income, and education allows marketers to develop products and services that are tailored to specific groups' needs. This targeted approach enhances product acceptability and helps companies to effectively meet consumer demands, thereby gaining a competitive advantage .

Requiring a motorcycle operations license implies a focus on ensuring that motorcyclists possess specific skills and knowledge before being permitted to ride. This requirement likely decreases accidents and increases safety by ensuring operators are competent and better informed about road regulations. It reflects an emphasis on enhanced regulation for motorcycle safety compared to less stringent requirements for automobile licenses .

Psychological, social, and physical factors guide consumer decision-making by affecting awareness, evaluation, and purchase decisions. Psychological factors influence personal desires and motivations; social factors encompass cultural and peer influences; physical factors involve tangible attributes and experiences with products. These combined elements determine consumer preferences and buying behaviors .

Motor vehicle laws impact motorcyclists by requiring specific licensing, often involving a motorcycle operations license that necessitates passing a test, unlike regular driver’s licenses that suffice for automobiles in some areas. Additionally, many states and provinces mandate safety helmets and goggles for motorcyclists, and some offer specialized safety courses or classroom instruction, highlighting greater regulatory emphasis on safety for motorcyclists compared to automobile drivers .

Motorcycle manufacturers need to understand consumer profiles in different age demographics to effectively tailor marketing strategies and product offerings. For instance, younger age groups might be more interested in modern, sporty models, whereas older demographics might prioritize comfort or reliability. Understanding these preferences allows manufacturers to better meet the desires of each segment and enhance market penetration .

With the growth in size of firms and marketers, decision-makers have become removed from direct contact with consumers. As a result, consumer research has become increasingly important in assisting managers to make informed decisions about product features, pricing, and advertising appeals. This shift allows companies to better understand consumer response and gain a competitive advantage .

Companies gain significant advantages by understanding consumer responses to various marketing strategies, like advertising appeals. This understanding enables them to tailor their approaches to maximize acceptance and engagement, leading to improved sales and brand loyalty. It gives firms a competitive edge by directly aligning offerings with consumer preferences and motivations, facilitating better market positioning .

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