1. Introduction
Consumer Behaviour is "The study of individuals, groups, or organizations and the processes they use to select, secure, consume, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
No two individuals have the same buying preferences. The buying tendencies of individuals vary as per their age, need, income, lifestyle, geographical location, willingness to spend, family status and so on. An individual’s immediate family member plays an essential role in influencing his/her buying behaviour.
An individual tends to discuss with his immediate family members before purchasing a particular product or service. Family members might support …show more content…
No bachelor likes to invest money on mutual funds, insurance policies, med claims etc. but for someone who is married buying an investment plan becomes his first priority. Women generally are inclined towards buying toiletries, perfumes, dresses, household items, furnishings, food products while men would rather love to spend on gadgets, cars, bikes, alcohol etc. Both have different tastes but when they come together, they mutually decide on what to buy and what not to …show more content…
Essentially, the theory posits that as society becomes differentiated through modernisation, the family changes from an assumed extended form to a more nuclear form through changes in household size. One interpretation of modernisation theory of the family is that within countries, nuclear family forms predominate in urban areas, while extended family forms are more prevalent in rural areas (Burch 1967). To a very large extent, this so-called residence hypothesis is an extension of the socio-economic argument, since there is nothing intrinsic about urban living that engenders this supposed transformation in family and household
Consumer Behaviour is "The study of individuals, groups, or organizations and the processes they use to select, secure, consume, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
No two individuals have the same buying preferences. The buying tendencies of individuals vary as per their age, need, income, lifestyle, geographical location, willingness to spend, family status and so on. An individual’s immediate family member plays an essential role in influencing his/her buying behaviour.
An individual tends to discuss with his immediate family members before purchasing a particular product or service. Family members might support …show more content…
No bachelor likes to invest money on mutual funds, insurance policies, med claims etc. but for someone who is married buying an investment plan becomes his first priority. Women generally are inclined towards buying toiletries, perfumes, dresses, household items, furnishings, food products while men would rather love to spend on gadgets, cars, bikes, alcohol etc. Both have different tastes but when they come together, they mutually decide on what to buy and what not to …show more content…
Essentially, the theory posits that as society becomes differentiated through modernisation, the family changes from an assumed extended form to a more nuclear form through changes in household size. One interpretation of modernisation theory of the family is that within countries, nuclear family forms predominate in urban areas, while extended family forms are more prevalent in rural areas (Burch 1967). To a very large extent, this so-called residence hypothesis is an extension of the socio-economic argument, since there is nothing intrinsic about urban living that engenders this supposed transformation in family and household