Consumer Behavior. For Financial Services Objective To examine the current status of buyer behavior literature, so that some of this work can be synthesized with the generic literature on services marketing, as well as specific literature on financial services, in order to consider the nature of buying behavior for personal and corporate financial services
Financial services firms should begin to shape consumer behavior rather than respond to it. Consider an individual shopping for life insurance. The process can take weeks or even months—definitely much longer than it should even for a healthy, relatively young nonsmoker. Even when there are no issues in obtaining coverage, this standard persists.
Consumer behaviour – SlideShare
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2. Consumer Behaviour Consumer Behavior is the study of when, why, how and where people do or do not buy a product. It basically depends on the psychology of the consumer. It attempts to understand the buyer decision making process both individually & in groups. It studies the individual consumers such as demographics & behavioural aspects to …
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People Also Ask consumer behaviour in financial services ppt
What is consumer behaviour?
Consumer Behaviour Consumer Behavior is the study of when, why, how and where people do or do not buy a product. It basically depends on the psychology of the consumer. It attempts to understand the buyer decision making process both individually & in groups.
What are the factors influencing consumer behavior?
Factors influencing consumer behaviour Psychological factors Social Factors 1. Consumer needs & 1. Reference group motivation (Maslow’s need 2. Role and status hierarchy theory 3. Family 2. Perception Personal factors 3. Learning 1. Age 4. Beliefs & attitudes 2. Stages in life cycle Cultural factors 3.
What are the inherent motives of consumer behavior?
Inherent motives are those which come from physiological & basic needs such as hunger, thirst, sleep etc. If these motives are not satisfied then consumer feels dissatisfied and feels mental tension. 2.
What are the different types of consumer?
Types of consumer Consumer Ultimate Buyer Customer Consumer Institutional Buyer
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