MARKETING MANAGEMENT
INTRODUCTION
In day-to-day life we buy lot of products as per needs, choice, taste, preference, wants & desire. While buying this products lot of factors influence our decision, external & internal. To understand the needs of consumer and consumer behavior, various market research are conducted this helps to deliver the value to the customer and satisfy customer’s needs & wants.
To understand this in better way I have taken a product which I use daily and what factors influenced me to buy that product and consume it. My product is Royal Enfield Thunder Bird 350 (Bike).
MY PRODUCT
Royal Enfield Thunder Bird 350 Company’s Profile:
Royal Enfield Company is situated in Chennai it’s a motorcycle manufacturing company. Initially it was UK
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Social Roles
Consumers decision depends on what social roles does he play in society and how he wants to project himself in society if he wants to project himself in a positive way then he will choose the products which will project him in positive way. Hence, social roles also play an important role.
3. Personal Factor
Lot of things depends on personal factors of consumer, personal factors include age, life cycle stage, occupation, personality, wealth, values, lifestyle, self-concept etc. These all comes under personal factors which influence the decision of buyer. For example a young boy would like to buy a trendy bike where as a middle age man would go for car.
All the factors which are motioned above influence the buyer decision directly or indirectly so all of them play a very major role in understanding the consumer behavior. This is very complex processes and therefore needs a detailed and vast study or market research. As every individual is different his needs and wants are also different so to understand the common reference point and to create and deliver the value to customer and what he wants is very difficult. But once you understand the consumer behavior your half job is