Get Npiel Consumer Behavior Vinod Gupta School Of Management Module 6 Consumer Behavior Sangeeta Sahney

Black Box Model of Consumer Behavior A consumer comes into contact with external stimuli from your business' marketing mix and other external stimuli, and they process it in their mind (black box). They relate the external stimuli to their pre-existing knowledge, like personal beliefs and desires, to make a decision.

The module examines fundamental processes in consumer behaviour, such as: decision-making, perception, learning, memory, the self, attitudes and persuasion. It also explores the extent to which these processes are influenced by individual, situational, environmental, inter-personal and cultural (sub-cultural) factors.

In general, there are four factors that influence consumer behaviour. These factors impact whether or not your target customer buys your product. They are cultural, social, personal and psychological.

One of the well-known theory of marketing is Stimulus-Response Model, Black-box by Philip Kotler. He explained the importance of studying the consumer behavior because marketing is all about knowing your customers well and coming up with products to satisfy needs and wants of the consumers.

Psychological Factors. Human psychology is a major determinant of consumer behavior. ... Social Factors. Humans are social beings and they live around many people who influence their buying behavior. ... Cultural factors. ... Personal Factors. ... Economic Factors.

A consumer's buyer behaviour is influenced by four major factors: Cultural, Social, Personal and Psychological. Cultural factors include a consumer's culture, subculture and social class. These factors are often inherent in our values and decision processes.

The black box refers to the consumer's thinking and this is affected by the stimuli of the environment, the consumer's personal characteristics and the price (for example). The retailer can try to design a pleasant environment to encourage the consumer to respond positively and purchase the product.

The black box idea in behaviorism is a term used to describe thoughts and feelings in the mind. Behaviorists believed that since the "black box" of the mind was not observable, it should not be studied or even considered in scientific psychology.

Experts agree that there are four main types of consumer behavior: complex-buying behavior, dissonance-reducing buying behavior, habitual buying behavior, and variety-seeking buying behavior.