Consumer buying behaviour The study of individuals groups or organizations and

Consumer buying behaviour the study of individuals

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Consumer buying behaviour "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society." 2. Literature Review The factor which drive the consumer behavior vary according to the type of brand, the consumer decides to buy. Brand loyalty is very important for the success of every type of brand. Consumers can be loyal to a specific brand according to the dimensions of consumer behavior.Loyal consumers help in gaining a high market share. To make new customer loyal, it needs to invest five times more cost than to retain the current and existing consumers. Loyal consumers can provide the competitive edge against competitors which is a significance factor for success The word loyalty usually refers to the association and recognition. When a consumer is loyal to brand, he will always prefer that brand upon other brands and he is purchasing that product from many years. Whenever he will need to buy a particular product, the same brand will come to his mind which he always buys due to his attachment and satisfaction which he expects from that brand. With the growing pace of globalization, competition is increasing and to compete with other brands, innovation is needed. Brands create the sense of status consciousness in many consumers which leads to the sense of recognition and using different brand products is the new trend of fashion. People feel pleasure when they are recognized in society, friends and family in connection of specific brand which is mostly used by a person. Now people want to have very thing branded from the food they eat, clothes they wear to the decoration of their homes. Status and conspicuous consumption are also factors which affect the consumer behavior. Consumers now use the expensive and branded products in order to show their status. The brands which are used for showing off the luxury, power and wealth are known as status brands. The wish to have a high status is the factor which compels the people to use brands as status symbol. Brands are consumed to show that the person who used it is highly status conscious, trendy and wealthy and these brands can be categorized as status brands. As the wish increases, the usage of brands increases. When branded products are displayed intentionally or shown especially to oth ers for making them realize the power and wealth, by the person who uses them, we can say that it is conspicuous consumption. It means the display of your wealth through the consumption of different brands for just showing the high status is conspicuous consumption and it is a very important dimension of consumer behavior for influencing his behavior towards brands and also the impact and power of branding in influencing and moldings the consumer behavior.
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  • Spring '16
  • Sir Abdul salam
  • Brand

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