Consumer markets and consumer buyer behavior. Market analysis Contents

Physiological needs consist of basic human needs like water, food and sleep.

Safety needs consist physical safety of humans like personal, emotional, financial security

Social Belonging and needs consist of love, friendship needs

Self-Esteem are those needs looking for self-respect, recognition and social-status

Self-actualization is the need for personal growth, development and realization.

Freud Theory of Motivation. This theory tells us that the unconscious psychological forces such as emotions and desires shape an individual behavior. These are three factors are Id, superego and ego.
Consumer Behavior Models
Through observation and research, there have been developed several models which further explains the buying behavior of consumers and which includes black box, personal variables as well as complex models.

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  Black-box model: This model is based upon external stimulus-response which means that a point triggers the consumer’s mind to make a purchasing decision which is influenced by different factors like sampling, marketing message, promotions, product availability and price.
  
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  Personal variables: When a consumer is influenced by personal-variable model, decisions are based upon internal factors. Internal factors may include belief systems, goals, goals, traditions, personal opinions or any other similar internal motivator.
  
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  Complex model: Complex model includes both external and internal variables.
  

How to Study Consumer Behavior
Several factors affect the consumer behavior and there are some methods that are used to study consumer behavior. These methods include:

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  Surveys: Surveys can be conducted on the phone, internet or in-person. Surveys should avoid the open-ended question and should include multiple-choice questions so that answers are given easily.
  
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