Everyday production activity of goods or service is backed by the behaviour of consumers. No goods or service will have any value, unless they are demanded by consumers. Any business activity starts with consumer and ends with consumer. Consumer creates demand for goods and services, producers produce and distribute them adopting several promotion modes and distribute channels. Finally consumers purchase the product and derive satisfaction.
Customer value may be understood as the degree of relationship or ratio that exists between the customer's perceived benefits (which include economic, psychological and functional) and the resources used (time, effort, money etc.,) to avail these benefits. Supposing a company wants to deliver standard quality, standard service, standard cleanliness. These standard core variables are expected from customers and are delivered by companies.
Customer satisfication is a psychological phenomenon and it may be the perception of the individual regarding the performance of the product or service in relation to one's expectations. The customer perception differs from customer to customer. The varied perceptions cannot be satisfied. But companies produce wide variety of goods and services which normally satisfy the needs of different customers.
Consumer behaviour - encompasses the issues such as individual aspects of consumer (their needs, motivation, personality, perception, learning and memory, attitude etc.,), environment factors (family influence, culture and cross-cultural influences, group influence and social class influences) and consumer decision making power to buy the product or service and finally the satisfaction derived by consuming the product or service. These aspects are fully dealt in this title "Consumer Behaviour".
1. Introduction to Consumer Behaviour
2. Individual Determinants of Consumer Behaviour
3. Environmental Determinants of Consumer Behaviour
4. Consumer's Decision Making Process
5. Consumer Satisfication & Consumerism