Family Life Cycle and Buying Pattern

Stage in family life cycle is directly related with buying pattern of consumer. Agency Management System or CRM Software can help businessman to understand buying pattern of consumer.

Single Stage----
When a Person is in single stage that is young, unmarried people living away from home their buying pattern could be few financial burdens. Spend on ret. Food. Very basic kitchen equipment and furniture, recreation and leisure time accessories such as Mobile or CD player.

Young Newly married
When a person is in this stage of life with no children, better off financially than they will be in near future, wife is usually working, highest purchase rate. Spend on furniture, durables such as refrigerators, gas stoves, and vacations etc.

Full Nest1—
Youngest Child under 6, when a person is in this stage, spend maximum on home purchase. Interested in new products and influenced by advertising. Buy Tv, baby foods, cough medications, toys such as tricycle.

Full Nest2—
Youngest Child over 6, a person some wives return to work. Better financial position, less influenced by advertising. Buy large size packages, various kinds of food, bicycles, education, house purchasing.

ref: agency management system, Insurance CRM

Perception - Selective Distortion -

Perception we are talking here as part of consumer behavior with why crm and agency management system.

Today, we are going to talk about Selective Distortion.

Let us suppose you have decided to purchase a specific brand ‘A’ of pressure cooker. Since you have already made your decision you would seek only that information which reinforces the correctness of your decision.

If you hear some positive remarks made about brand ‘B’ you would tend to find some shortcoming or flaw in that brand so that you do not feel that you have made a wrong decision by buying brand ‘A’. When to fit information to suit your own ideas or personal meaning, the process is known as selective distortion. Thus, a marketer may find that his message is often not received in the intended manner but it is twisted in different ways by different consumers.


ref: crm software and sfa applications, agency management system

Perception - Consumer Behaviour and CRM -3

CRM and lead organizer software we are talking here as a part of agency management system. In our initial post we talked CRM, Importance of Consumer Behavior , and Consumer Behavior-Introduction .
As part of Consumer Behavior, we talk Types of Consumers, Buyer Vs User, factor influencing consumer behavior, psychological factors , Maslow's Hierarchy of Human Needs, Maslow's Hierarchy of Human Needs -1 and Perception.

Everyday, every hour of our life we are being bombarded with a variety of stimuli. If we were to analyze and interpret each one of these stimuli, it may drive us crazy. But we all have in-built screening system which helps us to ‘select; and recognize’ only the relevant stimuli and ignore all the others. As a person involved in marketing, you would like to ensure that the stimuli which you are providing are not ignored by the consumers. But rather they are recognized, interpreted and retained in the consumer memory. In this context, there are three aspects of perception which are of immediate interest to the marketer. These are selective exposure, selective distortion and selective retention.
We talk on each of them in our next post.

ref: crm, lead organizer , agency management system & lead management software

Maslow's Hierarchy of Human Needs - Consumer Behaviour

Why CRM? We are talking here. We talked about CRM, Importance of Consumer Behavior , Consumer Behavior---Introduction as a part of leadorganizer and lead management with reference to Why CRM. In our previous post, we talk about Types of Consumers, Buyer Vs User and factor influencing consumer behavior and psychological factors effecting consumer behavior.

Today we are going to talk about Maslow’s Hierarchy of Needs.

All human need can be classified into five hierarchical categories and this hierarchy is universally applicable. These five categories are as under.

1) Physiological Needs.
2) Safety & Security Needs.
3) Social Needs.
4) Ego Needs.
5) Self actualization Needs.
The theory of hierarchy of need was propounded by Abraham Maslow. According to Maslow’s hierarchy all needs can be ranked in order of importance from the low biological need to the higher level psychological needs. Each level of unfulfilled need motivates the individual’s behaviour and as each successive level of need is fulfilled people keep moving on to the next higher level of need.
The different levels of need have been depicted as being water tight compartments. But in reality there is always overlap amongst the different levels of need. Since no need is ever totally satisfied. There is always scope for further fulfillment.

We continue our talk in next post.

ref: crm & sfa software

Factors Influencing Consumer Behaviour

We talk about Importance of Consumer Behavior , Consumer Behavior---Introduction ,CRM as a part of leadorganizer and lead management with reference to crm. In last two post, we talk about Types of Consumers and Buyer Vs User. Today, I m going to talk different factors influencing consumer behavior.

Consumer behavior is affected y a lost of variables, ranging from personal motivations, needs, attitudes and values, personality characteristics, socio-economic and cultural background, age, sex, professional status to social influences of various kinds exerted by family, friends, colleagues and society as a whole.

The combinations of these various factors produce a different impact on each one of us as manifested in our different behavior as consumers. You may think that the best way of utilizing your annual saving is to have a Christmas vacation, but your wife thinks it is wisest to invest in jewellery, while your colleague considers buying shares as the best way of spending savings. Thus you would find that each person has his or her own standards of judgments and distinct behavior in every aspect of his role as a consumer.

But at the same time, underlying the individual differences are similarities which help explain behavior of specific types or groups of people. It is these similarities which make it possible for us to classify and analyze the behavior of individual consumers.

Psychological factors such as individual consumer needs and motivations, perceptions, attitudes, the learning process and personality characteristics are the similarities which operate across different types of people and influence their behaviour. Amongst the social influences affecting behaviour, we can classify the influences of family, friends, leaders and the social class to which the consumer belongs.

We shall discuss these factors one by one and see how they influence the individual’s behaviour as a consumer.


Ref: Customer relationship management & lead management software