Understanding Consumers & Consumption

Consumption:

The use of the goods or service is called consumption. The purchase of goods or services are also referred to as consumption. Consumption of Bingo happens when a consumer purchases Bingo or when he eats Bingo.

Understanding Consumers

Consumer behavior is a study of how the consumers select, buy, use and dispose the product that is marketed. A consumer’s behavior is influenced by cultural, social, and personal factors

Cultural factor: The cultural behavior of a person is influenced from his home. The culture, subculture and social class of the individual affect the buying process.

The cultural factors that influence a consumer to buy BINGO would be as follows: The lower class people of the country cannot afford to buy Bingo and few families with orthodox culture don’t encourage Bingo for their kids.

Social Factor: The social behavior of a person comes from the society he lives in. The reference group, friends and peer groups influence the buying process. A consumer will want to buy something just because his friend owns it or something similar to it.

Kids may demand their parents to buy Bingo because one of their friends get Bingo to school. The above behavior of the consumer is because of the social factor

Personal factor: The personal factors of consumer buying decision include their age, occupation, lifestyle, personality and self-concepts. The behavior of a consumer buying a product because it makes sense for himself to own it comes under these personal factors.

Bingo’s target audience are kids and youth. Their occupation is student and they live an I-don’t-care lifestyle. But not all kids and youth buy Bingo. Youth who go to gym do not prefer Bingo, but a student who spends his time in the college/school canteen might buy bingo.

Consumers buying decision can be explained by The Consumer Decision Making Process Model (refer the below figure)

 

Problem Recognition: In this stage, the consumer recognizes his need to purchase any product. For Bingo, The problem recognition stage can be hunger, or need for a quick snack

Information Search: Customers use their purchasing power, to seek further information about the problem recognized  To buy Bingo, the consumers will analyse what is the price of the product, flavors and quantity of one packet.

Alternative Evaluation: A set of brands are reminded to a consumer when a product category is stimulated. These products are perceived to be “acceptable” to them when they consider their alternative opinions. When purchasing Bingo, a consumer will also evaluate the values of its competitive brands like lays, hippo etc.

Purchase: This is the stage when the decision is made. It can either be Purchase or No Purchase. The consumer will either buy Bingo or go for Lays. The consumer buying decision ends here if there is no purchase has been made.

Post Purchase Evaluation: The consumer evaluates the product after consumption and decide if they had their wishes fulfilled. After the consumer consumes Bingo, they evaluates its taste and other values that the product offers them and decides if he has to repurchase or not.