CONUMER BHEVIOUR
Author: – Vishakha Balu Bhosale
MMS/Roll No.07/Div A
Kohinoor Business School
Literature Review
A study of organization Development Affected by consumer Buying Behavior
Sharma Preeti. et,al(2022)says that how people, groups or organizations select,acquire,use, and discard items as well as the variables that affect their decision, taste , price and branding. The article understands what the marketing mix is. There are 4 ps of marketing product, price, place, promotion. The marketing mix includes 3Ps such as procedures, people and tangible evidence. Understand why consumers are important.
On or off track: How streaks affect consumer decision.
Silverman, Jackie et al. (apr 2023) In this article, they investigate the effects of intact versus broken streaks, highlighted through logging, on consumer decisions. Across seven studies, they find the consumers are more likely to engage in a behavior when it contributes to an intact streak in their log, relative to when it follows a broken streak in their log. Effects hold even when consumers’ past behavior is held constant, and the only difference is whether that behavior and its contribution to a streak are displayed within a behavioral log. This article makes theoretical contributions to a number of literatures. First, they contribute to the growing area of research on how new technologies are reshaping consumer behavior. In particular, recent research has explored various experiential outcomes for consumers who track their activities, such as decreased enjoyment or enhanced feelings of autonomy, as well as individual traits that predict the likelihood of logging. Building on this work, They research is the first to examine how highlighting a specific series of past behaviors—streaks—through tracking technologies can affect consumers’ subsequent choices. It thus has practical implications both for consumers seeking to motivate themselves to pursue desirable behaviors and for companies seeking to optimize consumer engagement.
Compensatory consumption during the COVID-19 pandemic: exploring the critical role of nostalgia in sport consumer behavior
Cho Heetae, et al (2021) Researchers have highlighted the importance of emotions in determining individuals’ behavioral responses in diverse contexts, including consumer behavior, Williams, marketing, leisure, and tourism. Among diverse emotions, nostalgia can play a critical role in understanding the behaviors of individuals during the current pandemic, as people cannot lead normal lives due to the adoption of a broad range of social distancing methods intended to prevent the spread of COVID-19. For example, during the pandemic, many people have been unable to engage in their usual fitness and exercise activities at a gym or a studio; when individuals are deprived of these activities, they may recollect their positive memories and feel nostalgic about their participation in such activities in the past. Nostalgia can be defined as a ‘sentimental longing for one’s past ‘comprised of both positive and negative feelings it can be described as a bittersweet emotion. Researchers have noted that although nostalgia consists of two emotions, it can be considered a predominantly positive emotion, Sedikides. Furthermore, individuals can easily feel nostalgia when confronted with a negative situation. In other words, during the pandemic, which disturbs various everyday activities and behaviors due to extensive social distancing practices, individuals may have strong nostalgic feelings regarding their positive past experiences of fitness and exercise activities. Previous studies have highlighted the importance of nostalgia and its critical role in understanding the psychological and behavioral outcomes of individuals. However, the impact of nostalgia has not been widely examined after the COVID-19 outbreak.
Consumer Behavior in the Online Classroom: Using Video Analytics and Machine Learning to Understand the Consumption of Video Courseware
Zhou, et al (2021) says that the addresses these challenges by developing a novel video feature framework that can be used to analyze unstructured video data for quantitative marketing analysis in an automatic and scalable manner. They work is also among the first in the literature to develop a methodology to analyze video consumption using a content-based perspective, which can help marketers understand which video elements attract customers’ attention online. They apply our framework to online education and instruction, a setting where video plays an increasingly important role for marketing managers. Education and training is a $7 trillion dollar industry that is rapidly moving from an in-person experience, where product- and customer-level data are hard to come by, to an interactive video-based experience
The Influence of Social Norms on Consumer Behavior: A Meta-Analysis
Melnyk, et al (2022), This article talk about looks across a wide range of research on social norms across behaviors, time, and cultures to resolve these conflicting findings and to synthesize the extant literature on social norms. Specifically, they investigate the effects of social norms on actual consumer behavior and identify moderators of these effects, using reactance theory as a theoretical lens. They contend that the effectiveness of social norms varies with the level of consumer reactance they trigger norms that are less likely to trigger reactance are more likely to be effective. They conduct a meta-analysis that examines the effects of five categories of moderators of the effectiveness of social norms on consumer behavior, matching central factors that may induce reactance. Specifically, they examine how the relationship between social norms and behaviors depends on social approval or disapproval of behavior and other target behavior characteristics, communication factors, consumer costs, environmental factors, and methodological characteristics.
Impacts of Covid‐19 pandemic on consumer behavior in Turkey: A qualitative study
Business source elite, et al (2022) Researchers study aims to examine consumer behavior in Turkey during the COVID‐19 pandemic and how consumers adapt to this new normal. In this regard, 78 Turkish consumers were interviewed online. Data were analyzed through grounded theory with a stimulus‐organism‐response framework and constant comparative methods. This study showed that environmental stimuli affecting consumer behavior during the pandemic are economic downturn, partial lockdown regulations, restrictions on some services, and social media messages. Organism consists of fear, boredom, and perceived risk. Consumers’ behavioral responses to the pandemic are changes in purchasing of consumer goods, avoidance from physical stores, a decline in leisure activities, a decline in shopping frequency, planned vs. impulse buying, stockpiling, and presumption. Overall, this study provides a more general framework regarding multiple aspects of the pandemic on consumer behavior.
Effect of Friends’ Churn on Consumer Behavior in Mobile Networks
Ferreira, et al (2020) says They study how consumers decide which tariff plan to choose and whether to churn when their friends churn in the mobile industry. They develop a theoretical model showing conditions under which users remain with their carrier and conditions under which they churn when their friends do. They use a large and rich anonym zed longitudinal panel of call detailed records to characterize the consumers’ path to death with unprecedented level of detail. They explore the structure of the network inferred from these data to derive instruments for friends’ churn, which is typically endogenous in network settings. This allows us to econometrically identify the effect of peer influence in our setting. On average, we find that each additional friend that churns increases the monthly churn rate by 0.06 percent. The observed monthly churn rate across our dataset is 2.15 percent. They also find that firms introducing the pre-paid tariff plans that charge the same price to call users inside and outside the carrier help retain consumers that would otherwise churn. In our setting, without this tariff plan the monthly churn rate could have been as high as 8.09 percent. They perform a number of robustness checks, in particular to how they define friends in the social graph, and show that our results remain unchanged. The paper shows that the traditional definition of customer lifetime value underestimates the value of consumers and, in particular, that of consumers with more friends due to the effect of contagious churn and, therefore, managers should actively take into account the structure of the social network when prioritizing whom to target during retention campaigns.
A penny saved is a penny earned: How money‐view and self‐view jointly influence consumer financial behaviour
Kim, et al (2022), this research state that makes several important contributions. Theoretically, this study offers a new way to understand financial behaviours by considering consumers’ money‐view and self‐view simultaneously. Despite the obvious relevance of money‐view to consumers’ saving behavior, to the bexst of our knowledge, this is amongst the first studies to theorise and empirically demonstrate that the way consumers perceive the value of money influences their financial behaviours. In addition, by examining the interactive effects of consumers’ money‐view and self‐view, this research suggests the importance of employing a multifaceted approach in understanding consumer financial behavior that the largely been absent from the literature. Practically, they findings offer a novel way to motivate consumers to strive for better financial positions. Leveraging a finding, they suggest that policymakers and practitioners can develop a set of new initiatives to help consumers achieve financial success.
Exploring and explaining older consumers’ behavior in the boom of social media
Business Source Elite, et al (2022) says that the growing number of ageing consumers and their increasingly active engagement in social media platforms present a great opportunity for digital marketing to the grey market. However, the potential of this segment has been underrated by both marketers and marketing scholars. The empirical belief of senior consumers’ technological illiteracy somewhat discourages industrial and academic approaches to seeking the answer to some critical questions such as what older consumers think about social media‐based advertising, influencers, or peer communications. Thus, this study aims to explore and explain older consumers’ social media‐related behavior through delving into motives behind their frequently used social media site, investigating older consumers’ purchase behaviour aspects, discovering what senior consumers think about social media‐based advertising, influencers, and peer communications, and evaluating the impact of social media on older consumers’ purchase behaviour. Five key themes emerging from the adopted qualitative approach are Facebook predominance, Scepticism; Price sensitivity, Asymmetric social influences, and Favoured physical store shopping. Each finding is demonstrated in a detailed causal explanation. Academic contributions and implications for social media marketers are highlighted and discussed.
A cross-cultural analysis of pro-environmental consumer behavior among seniors.
Sudbury Riley, et al (2012) State that, the first of its kind, investigated the pro-environmental consumer behavior of seniors in Japan, Germany, the UK, and Hungary. Using a modified version of the ECCB scale, the study found differences between the nations, with older Japanese and German consumers demonstrating more ecologically conscious consumer behavior than their British and Hungarian counterparts. In line with previous research, the study found sociodemographic factors to be poor indicators of ecologically conscious consumer behavior, although females were found to score higher on the ECCB scale than were males. An important finding that people with higher ECCB scores actually behave differently to those with lower scores, and this behavior includes taking part in demonstrations, blogging and using Internet forums, and giving to environmental charities. Finally, results revealed large numbers of senior consumers are still unaware of many ethical product choices.
Conclusion:-
Consumer buying behavior has a significant impact on organizational development. Understanding variables such as decision-making, preferences, pricing, and branding is crucial for organizations to effectively market their products or services. Streaks, whether intact or broken, can influence consumer decision-making. Consumers are more likely to engage in a behavior that contributes to an intact streak, as highlighted through logging or tracking technologies. This finding has implications for both self-motivation and consumer engagement strategies for companies.Nostalgia play a critical role in consumer behavior, particularly during the COVID-19 pandemic. Individuals may recall positive memories and feel nostalgic about past experiences that they are currently deprived of due to pandemic-related restrictions. Understanding the impact of nostalgia can provide insights into consumer responses and behavior during challenging times. Video analytics and machine learning can be used to analyze consumer behavior in online education and instruction. By understanding which video elements attract customers’ attention, marketers can optimize their strategies in the online learning environment. Social norms significantly influence consumer behavior, and the effectiveness of social norms varies based on factors such as consumer reactance, social approval or disapproval, communication factors, costs, environmental factors, and methodological characteristics. Considering these factors can help marketers better utilize social norms to shape consumer behavior. The COVID-19 pandemic has had a profound impact on consumer behavior in Turkey. Economic downturn, partial lockdown regulations, restrictions on services, and social media messages are among the stimuli affecting consumer behavior. Fear, boredom, and perceived risk are key factors influencing consumers’ responses, leading to changes in purchasing patterns, avoidance of physical stores, and alterations in leisure activities. Peer influence, specifically the churn behavior of friends in mobile networks, affects consumer decision-making. Consumers are more likely to churn when their friends churn, indicating the importance of considering social network structures in retention campaigns and customer lifetime value calculations. Consumers’ money-view and self-view jointly influence their financial behaviors. This research suggests that understanding these dual perspectives can offer new ways to motivate consumers to improve their financial positions. Older consumers are increasingly engaging with social media platforms, presenting opportunities for digital marketing. However, stereotypes of technological illiteracy among seniors underestimate their potential as active social media users. Understanding older consumers’ behavior, motives, purchase patterns, and attitudes toward social media-based advertising and influencers can help marketers effectively target this segment.Pro-environmental consumer behavior among seniors varies across different cultures. The study found that older Japanese and German consumers demonstrated more ecologically conscious behavior compared to British and Hungarian seniors. Socio demo graphic factors were not strong indicators of environmentally conscious behavior, but females tended to score higher on pro-environmental scales. The study also highlighted the importance of awareness and education to promote ethical product choices among seniors. Overall, these studies provide valuable insights into various aspects of consumer behavior, highlighting the significance of understanding consumer preferences, motivations, and external influences in organizational development and marketing strategies.
Reference:-
CHO, H.; OH, G.-E.; CHIU, W. (2021) Compensatory consumption during the COVID-19 pandemic: exploring the critical role of nostalgia in sport consumer behaviour. Journal of Marketing Management, [s. l.], v. 37, n. 17/18, p. 1736–1763, 2021. DOI 10.1080/0267257X.2021.2001028. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=06f33c77-fc89-3808-b35e-387e1bfb637d. Acesso em: 13 maio. 2023.
Exploring and explaining older consumers’ behaviour in the boom of social media(2022). International Journal of Consumer Studies, [s. l.], v. 46, n. 2, p. 601–620, 2022. DOI 10.1111/ijcs.12715. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=32ec1cab-4b48-3b59-ab0b-bf0d47c7a32d. Acesso em: 13 maio. 2023.
FERREIRA, P.; TELANG, R.; DE MATOS, M. G. (2020) Effect of Friends’ Churn on Consumer Behavior in Mobile Networks. Journal of Management Information Systems, [s. l.], v. 37, n. 2, p. 355–390, 2020. DOI 10.1080/07421222.2019.1598683. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=6a4523b0-9dfc-3e5c-9a20-e14e2e88798a. Acesso em: 13 maio. 2023.
Impacts of Covid‐19 pandemic on consumer behavior in Turkey: A qualitative study. (2022) Journal of Consumer Affairs, [s. l.], v. 56, n. 1, p. 339–358, 2022. DOI 10.1111/joca.12423. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=98d24fef-1168-39f0-88cf-a6d98c0fe501. Acesso em: 13 maio. 2023.
KIM, M. J.; HUANG, Y.; CHEN, H. (2022) A penny saved is a penny earned: How money‐view and self‐view jointly influence consumer financial behaviour. International Journal of Consumer Studies, [s. l.], v. 46, n. 2, p. 449–458, 2022. DOI 10.1111/ijcs.12692. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=557ab1b8-becb-3990-b5e8-81f5671e9f61. Acesso em: 13 maio. 2023.
MELNYK, V.; CARRILLAT, F. A.; MELNYK, V. (2022) The Influence of Social Norms on Consumer Behavior: A Meta-Analysis. Journal of Marketing, [s. l.], v. 86, n. 3, p. 98–120, 2022. DOI 10.1177/00222429211029199. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=ca08f134-9302-3098-a700-06a5b12e50dd. Acesso em: 13 maio. 2023.
SHARMA, P.; KRISHNA, C.; KUMAR, A.(2022) A Study of Organization Development Affected by Consumer Buying Behavior: A Literature Review. ANWESH: International Journal of Management & Information Technology, [s. l.], v. 7, n. 2, p. 76–79, 2022. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=af956b54-21c1-3f3d-b9f7-fe1fdbe71efc. Acesso em: 13 maio. 2023.
SILVERMAN, J.; BARASCH, A.(2023) On or Off Track: How (Broken) Streaks Affect Consumer Decisions. Journal of Consumer Research, [s. l.], v. 49, n. 6, p. 1095–1117, 2023. DOI 10.1093/jcr/ucac029. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=d9b5a242-0f65-3a31-b3c9-5a91cd81b892. Acesso em: 13 maio. 2023.
SUDBURY RILEY, L.; KOHLBACHER, F.; HOFMEISTER, A.(2012) A cross-cultural analysis of pro-environmental consumer behaviour among seniors. Journal of Marketing Management, [s. l.], v. 28, n. 3–4, p. 290–312, 2012. DOI 10.1080/0267257X.2012.658841. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=b0392592-fff2-35af-bb1c-a528b0fefa9c. Acesso em: 13 maio. 2023.
ZHOU, M. et al. (2021) Consumer Behavior in the Online Classroom: Using Video Analytics and Machine Learning to Understand the Consumption of Video Courseware. Journal of Marketing Research (JMR), [s. l.], v. 58, n. 6, p. 1079–1100, 2021. DOI 10.1177/00222437211042013. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=13f7467d-9519-3ad8-9526-e594f5f907e0. Acesso em: 13 maio. 2023.