Dedication
Approval Page
Certification
Dedication
Acknowledgement
Table of Contents
Abstract
Chapter one
Introduction
1.1Back ground of the study
1.2Statement of problem
1.3Purpose of the study
1.4Significance of the study
1.5Assumption of the study
1.6Delimitations of the study
1.7Definition of terms
Chapter two
2.0 `Literature review
2.1Economic perspectives of consumer behaviour
2.2The Behavioural Management perspectives
2.3The marketing management perspectives
2.4Achievements
2.5Constraints in understanding consumer behaviour
Chapter three
3.1Implication for marketing
3.2Conclusion
Reference
This term paper sees the behavoural of the consumer in the market – place as a function of economic cultural, social, personal and psychological factors. Hence it examines consumer behaviour from various perspectives, namely economic, behavioural management, and marketing management perspectives. On the economic perspectives it concludes that the economic analysis of consumer behariour at the micro- economic level is founded on the utility concept” and diminishing marginal returns the behavioural management perspective are concerned with how to influence individual behaviour and the analysis of socio psychological relationships. The marketing management perspectives attempt to explain human behaviour in terms of motives. The paper highlights the constraints in understanding consumer behaviour and ends with a discussion of the marketing implications of the knowledge of these perspectives.
CHAPTER ONE
INTRODUCTION
1.0BACK GROUND OF THE STUDY
The effort to understand the behaviour of the consumer is essentially attempts to understand the why, what, when, where and how of the consumer’s decision to buy a product or service. The study of buyer behaviour falls within the preview of marketing and itself termed “ Consumer Behaviour “ It has varied overtime; from early economic perspective to behavioral management perspective and to more modern marketing perspectives .
STATEMENT OF THE PROBLEM
The pride of place which consumer behaviour enjoys in marketing practice is deeply rooted in the practice of the marketing concept” as a businesses philosophy- which is consumer –centred . it demands that the firm’s matching orders be stake from the market place with focus on the satisfaction of the consumer. According to Wilnshurst (1978) it is how we refer to the way in which many modern business have come to look at the total activity of their companies in a different light. It introduces marketing at the beginning rather than at the end of production.
1.1 PURPOSE OF THE STUDY
However, since consumer satisfaction is the focus of the marketing concept, it is necessary to find out those factors that influence him. Lazar and Kelling (1973) believe that the marketing concept is however ambiguous as a term especially when the long run situation of the consumer’s wants and desire are considered, the issues of consumerism are also challenges on the practice of the marketing concept. However our main interest in this paper regarding the marketing concept is the to the point out its relevance to the efforts made in consumer behaviour analysis. By several measures, consumers are now more ephisticated, and more sophisticated ways of satisfying them are necessary. To contain these developments, there have been suggestion for “ societal marketing concept” (Kotler and Levy 19968) and even “Deepening the marketing concept “(Enis and Cox 1975) understanding the behaviour of the consumer will greatly help marketers in the designing of their marketing strategies. It is therefore necessary to thoroughly understand the factors that influence the behaviour of the consumer for effective marketing operations.
1.2SIGNIFICANCE OF THE STUDY
A thorough understanding of the factors that influence the behaviour of the consumers demands an orderly study of the entire phenomenon of consumers behaviour. Unfortunately. Its study had vowed over time and to date, the search for a universally accepted ‘best model’ is still on while this search is still on, a good understanding of past efforts and achievements is necessary for envisage progress
1.3ASSUMPTION &DELIMITATION OF THE STUDY.
The aim of this paper, therefore, is to survey the efforts made to comprehensively understand the behaviour of the consumer in the market place and highlight marketing implications. Put in another form, it is an overview of the evolutionary efforts to understand the why what, who how, where and when of the consumer in the market place as he/she decides to purchase a product or service.
DEFINTION OF TERMS.
Perspectives of consumer Behaviour
Consumer Behaviour Defined.
Makin (1982) sees economics as the mother science of marketing and since consumer behaviour faces within the purview of marketing, it would be justified for us to go back to economics for early efforts to understand the consumer behaviour. However before we do those we would by to know what consumer behaviour is and how it has been defined overtime to enable us conceptually discuss.
Consumer behaviour has been defined in many ways, but that which appears to be researcher’s favourite was given by Engel etal (1973, page 5 ) as:
Those acts of individuals directly involved in obtaining and using economic goods and services. Including the decision processes that precede and determine these acts.
It stresses:
(i)“That acts of individual”
(ii)“Individuals directly involved in obtaining and using economic goods and services”
(iii)Including the decision processes that precede and determine these acts”
The implications of these delineations are very crucial to the focus of this paper. “Acts of individual”
Here imply only an individual but individuals probably representing those within and outside the immediate place under consideration. For the purpose of this paper, “individuals directly involved” means those who are actually buying the products or services in the market place, and actually constitute the act-make consumers, this paper is precisely not focused on industrial buying agents or their surrogates, through they may be mentioned in passing.
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