Sunday, March 19, 2017

Consumer Buying Motives

CONSUMER BUYING MOTIVES
The modern concept of marketing considers the customer as the king or prime as satisfaction and delight of customer is the ‘mission of a business. It is the customer who shapes the production and marketing policies of the firm. A marketer should understand this fact if he wants to get success  in this mission. He must have sufficient knowledge about the customers to whom he is going to sell. He must try to understand the nature of customers, their needs and their buying motives if he is to win permanent customers.
Consumer buying motives is the urge or drive to satisfy needs through product purchase and its consumption.“The needs, wants, drives, and desires of an individual that lead him or her toward the purchase of products or ideas. The motivations may be physiologically, psychologically, or environmentally driven.”
A buying motive induces a buyer to buy a product. It is an influence or consideration which provides an impulse to buy. There is a buying motive  behind every purchase. It may not be the same with every buyer. One buyer purchase a product to satisfy his one need and another may purchase a product to satisfy an altogether different need. Therefore, it is necessary for a marketer to identify the buying motives of different kinds of customers. For this he must study the psychology of the customer and design his market-mix accordingly.

Types of Buying Motives
There are three considerations which make a person purchase a product:
(i) He has a desire which needs to be satisfied;
(ii) He has an urge which induces him to purchase ; and
(iii) He has a reasoning.

Broadly speaking, individuals are motivate by various internal and external forces which are as under:

1) Internal motives often originate in the minds of the people and are both typical and psychological in nature. They are broadly classified into two parts - rational which are based on logical reasoning or thinking and a moral , which are based on personal feelings.

2) External motives are arises due to the various external factors such as income, occupation, religion, culture, family and social ‘environment.

External and Internal motives are divided into four categories which are given below:
1. Emotional Buying Motive: Emotional buying motive depends on the emotion, feeling and attitude of the consumers. This type of motive is purely a psychological aspect of a person. This type of buying motive may be different from person to person. Under this include:
* Fear
* Love and affection
* Curiosity
* Fashion
* Possession

2. Rational Buying Motive: All the consumers do not buy any goods or services with emotional motive. They become thoughtful, consider carefully their needs, priority, financial capacity etc. study and analyze the necessity, utility, price etc. of the goods or services. Then they make final decision to buy or not. The consumers become logical, rational, apt and knowledgeable. Such quality of the customers can be seen in their buying decision. The customers buy goods or services considering cheapness, health and security, utility, comfortable etc.

3. Prestige Motive: Prestige motive is related with the want of consumers for promotion of self-image and protection of their ego. Under this, vanity and pride are motives of consumers.

4. Patronage Motive: Patronage motive describes why certain customers buy specific brand goods, but not other brands and always buy necessary goods only from particular shop. So, under this motive include brand loyalty and store loyalty.
In this way consumer buy goods or services due to emotional motive, rational motive, prestige motive and patronage motive.

Theory of Motivation: Maslow’s Theory of Need Hierarchy
Dr Abraham Maslow, a clinical psychologist formulated a widely accepted theory of human motivation based on the notion of a universal hierarchy of human needs. This identifies five basic levels of human need which rank in order of importance from lower level needs (biogenic) to higher level needs (psychogenic). The theory says that individuals need to satisfy the lower level needs before higher level needs arise. The lowest level of unsatisfied need that the individual experiences serves to motivate its behaviour. Only when it is satisfied fairly well then he can think of the next level & so on. According to this theory it’s the “dissatisfaction” which motivates and not the “satisfaction”. Marketers need to know how to satisfy a need at what level, by studying the need hierarchy.

1. Physiological needs – food, water, air, clothing, shelter. These are the lowest or the first level needs. They are also called basic, frugal, primary, biological, biogenic, physiological, innate etc.

2. Safety or Security needs – physical safety, protection, stability, security, mental piece. Once the first level needs are satisfied, the individuals go for the next level where they need an uninterrupted fulfilment of the above needs, like regular income, permanent shelter, etc.

3. Social needs – affiliation, friendship, and belonging. Once the second level is more or less satisfied, this level comes. In social needs they need to maintain themselves in a society and try to be accepted in that so that they can interact with other members of the society.

4. Egoistic needs – prestige, status, self-esteem, fame. Then comes the egoistic needs of a person that must be satisfied. He wants to rise above the general level/status of other members so that he gets some mental satisfaction.


5. Self-Actualisation – self fulfilment. This is extreme or highest end of the hierarchy, where the individuals try to excel in any field attaining very high order of achievement. These people are called “self-actualisers”.

Labels

Absorption Costing (1) Accountancy (4) accounting for partnership firms (3) Accounting for Share Capital (3) accounts of non trading concern (3) advanced financial accounting (14) AHSEC (108) ahsec 11 (47) ahsec 12 (60) ahsec notes (104) AHSEC Question Papers (33) Assam Slet (10) bcfm (11) bills of exchange (6) branch accounting (3) Budgetary Control (3) Budgetary Control Notes (2) business communication (28) Business Environment Notes (12) business regulatory framewrok (49) Business Statistics Notes (25) cash flow statement (5) cbse 12 (19) cbse notes (27) commerce (13) company law (23) corporate accounting (33) corporate laws (14) cost accounting (63) cost and management accounting (34) cpt (36) cpt 200 (7) cpt notes (30) dibrugarh university (1113) dibrugarh university notes (597) dibrugarh university question paper (454) dibrugarh university solved papers (225) dibrugarh university syllabus (47) direct tax law (49) eco - 01 (4) ECO - 02 (2) ECO - 03 (2) ECO - 05 (6) ECO - 06 (1) ECO - 07 (1) eco - 08 (4) eco - 09 (1) ECO - 10 (2) ECO - 11 (3) ECO - 12 (7) ECO - 13 (2) ECO - 14 (4) entrepreneurship (14) fianancial accounting (3) financial accounting (48) Financial Accounting Notes (15) financial management (18) Financial statements analysis (14) funds flow statement (3) guwahati university (289) guwahati university syllabus (52) Hire Purchase (5) Human Resource Management (11) icwai (38) icwai notes (39) ignou solved assignments (83) ignou solved question papers (121) income from house property (5) income from salary (4) Income Under the head Salaries (11) information technology (10) Installment Purchase (4) issue of shares (4) kkhsou (13) M.com (62) Management Accounting Notes (31) MCQ (11) paper I (1) paper II (9) paper III (1) principle of business mangement (16) Principles of Marketing Notes (16) royalty accounts (3) sale of goods act (8) semester I (151) Semester II (154) semester III (81) semester IV (149) semester V (111) semester VI (91) slet (13) Slet Ne (10) Small Business Management (7) solved assignments (22) UGC - NET: Commerce (08) (14) UGC - NET: Commerce (08) Paper II (3) UGC - NET: Commerce (08) Paper III (14) ugcnet solved question papers (23) Variance Analysis Notes (1)