Personality Type Consumer Behavior - 824 Words

ibs | Interim Report | â€Å"Personality type and its effect on Consumer Behavior† | | | | Submitted by: Ashu Gurtoo | 09bshyd0186 | Project Proposed: â€Å"Personality type and its effect on consumer behavior† Description of the project: We will first try to understand what is consumer behavior What do we really want to study when we say that we want to study consumer behavior? * Why consumers make the purchases that they make * What factors influence consumer purchases * Why people behave as they do * What are the mental processes involved * Who buys * What are their choice criteria * When do they buy * How do they buy * Likely buyers reaction†¦show more content†¦Sproles and Kendall(1986) view this construct as â€Å"basic consumer personality†, analogous to the concept of personality in psychology (p.268).Research on this construct can be categorized into three main approaches: the consumer typology approach (Darden and Ashton, 1974; Moschis 1976); the psychographics/lifestyle approach (lastovicka, 1982;Wells, 1975); and the consumer characteristics approach(Sproles, 1985;Sproles and Kendall, 1986; Sproles and Sporles, 1990). The unifying theme among these three approaches is the tenet that all consumers engage in shopping with certain fundamental decision making modes or styles including rational shopping, consciousness regarding brand, price and quality among others. Parenthetically, the focus on this topic seems to be an American preoccupation since no studies could be located from researchers in other countries. Objective of the project: As the world becomes commercially more integrated the customers around the world have unprecedented amount of choices this makes the buying behavior more and more complex. The abundance of choices in the retail environment makes the completion between the sellers very intense. If that was not enough the ever new means of advertisement and readily available information on various goods make the buying decision even more complex. The purpose of this research is to investigate the decision making profile of consumers and to link it with their respectiveShow MoreRelatedCustomer Personality And The Product Selection Process Essay1178 Words   |  5 Pages Market segmentation is a marketing concept that divides a large heterogeneous market into smaller homogeneous subsets of consumers with similar needs, wants and characteristics. Researchers might be able to predict customer s behavior by studying if there are any relations between customer s personality and the product selection process. A key success for any business is to communicate with its customers better than competitors by understanding who its customers are and what they want. 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