Sunday, November 3, 2013

CONSUMER BEHAVIOR LEVELS

Understanding consumer behavior is the key aspect while designing the product packaging stage of any product.The reason behind writing this article is that in my research i have found that consumer behavior is changing in this festive seasons that we need to develop the strategies for designs the products and other aspects related to that aligning with the changes.Well by consumer behavior we mean the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Now in the recent research it is being found that there are various stages under which consumer behavior pattern is being mapped like wise:1)Utility based product and consumer behavior 2) Value based expressive consumer behavior,3)Ego defensive based consumer behavior and last 4)Knowledge based consumer behavior. In my research I have found that the consumer market is taking radical changes and with the explosion of online business the market is set to take a huge change and jump in the coming years.

Under utility based consumer behavior its is being found that products are categorized based upon the utility speed of the product. The best example can be given is the quality of medicine which gives quick relief to an client who is suffering with cough and cold. The medicine which provides quick solution to ordinary problems of life are the best category of products which helps to earn maximum revenue for the company. Products under this category are quick brand builders of an organisation.

Under the value based product categorization the buyer is more concerned over the depth of the value he will derive from an product. This is one of the most competitive area of product designing where one has to deliver maximum value to an product compared with its peers. In my research I find that value based buyers are also a cream segment of the consumer market who are also the leader for other consumer too. Other consumers just love to follow the value based consumers across the market. Product designing faces one of the strongest challenge while deigning and developing markets for these value based consumers.

Ego based consumers are the most easiest one since their value is based on the price levels of the products. To them the price of expensive goods brings value and derives egoistic based product value. Advertisements capitalizes on this segment and en cashes the value of the consumer through high price tag levels. They differentiated by expressing that high prices products are only for the premium class of the society and less for the common class. This is an integral part of rich class society and hence product designing becomes more easier and price designing becomes the critical part. Well in a market like India I have witnessed that products having high prices gets value of ego based clients and are automatically categorizes as rich products. One of the best example can be apple based computers and gadgets which is only being consumed by certain cash rich based consumer.

Knowledge based consumer behavior is the segment where consumers buying decision are based on extensive research at their own end. One of the key example of this market segment is the online sales where it is being found that consumers are having extensive knowledge about various offerings and better pricing available on online sales portals.  These consumers prefer extensive research based information on products and this segment of the market is growing constantly with an rapid space. Online sales market is suing extensive knowledge based sales process where buyers prefers to read the review and gather information about the products  prior to purchase.


 Hence its is well clear that gone are days when products used to be designed and developed for an one segment of the market. The current market is divided into various segments hence the challenges of product designing is extensive and competitive. 
Written By Indraneel Kripabindu Sen Gupta & Hardik Bhatt

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