Skip to main content
SpringerLink
Log in

Development of Consumer Behavior

  • Chapter
  • First Online:
Transgenerational Marketing

Abstract

Consumer Behavior is the study of individuals and groups, and the processes they use in searching for, purchasing, using, evaluating, and disposing of, products and services to satisfy their needs. In today’s competitive market, understanding consumer behavior is crucial to the development and implementation of marketing strategies. This chapter deliberates on the evolution of consumer behavior of family, society, and culture across the generations of marketing scholarship. This chapter analyzes the diverse behavior of consumers across the time and geo-demographic segments and examines the causes and effects of shifts in consumer behavior within social and cultural dimensions. This chapter draws semantic map of cognitive development among consumers about how they think, feel, and act in the marketplace. Shifts in consumer economics, consumer credit behavior, and contemporary learning effects on consumers also constitute a part of the core discussion of this chapter. Evolution of industrial marketing across marketing generations has been discussed extensively in the following chapter.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Arpan, L. M., & Peterson, E. M. (2008). Influence of source liking and personality traits on perceptions of bias and future news source selection. Media Psychology, 11(2), 310–329.

    Article  Google Scholar 

  • Bala, V., & Green, J. (2007). Charge what your products are worth. Harvard Business Review, 85(9), 22–25.

    Google Scholar 

  • Bianchi, M. (2002). Novelty, preferences, and fashion: When goods are unsettling. Journal of Economic Behavior & Organization, 47(1), 1–18.

    Article  Google Scholar 

  • Brewer, M. (1991). The social self: On being the same and being different at the same time. Personality and Social Psychology Bulletin, 17(5), 475–482.

    Article  Google Scholar 

  • Calvo, M. G., & Marrero, H. (2009). Visual search of emotional faces: The role of affective content and featural distinctiveness. Cognition and Emotion, 23(4), 782–806.

    Article  Google Scholar 

  • Camarero, C. (2007). Relationship orientation or service quality: What is the trigger of performance in financial and insurance services? International Journal of Bank Marketing, 25(6), 406–426.

    Article  Google Scholar 

  • Chung, J., Jin, B., & Sternquist, B. (2007). The role of market orientation in channel relationships when channel power is imbalanced. International Review of Retail, Distribution and Consumer Research, 17(2), 159–176.

    Google Scholar 

  • Cugini, A., Carù, A., & Zerbini, F. (2007). The cost of customer satisfaction: A framework for strategic cost management in service industries. European Accounting Review, 16(3), 499–530.

    Article  Google Scholar 

  • Durkin, M., O’Donnell, A., & Crowe, J. (2008). Relationship disconnect in retail banking. Journal of Financial Services Marketing, 12(4), 260–271.

    Article  Google Scholar 

  • Durkin, M., O’Donnell, A., Mullholland, G., & Crowe, J. (2007). On e-banking adoption: From banker perception to customer reality. Journal of Strategic Marketing, 15(2–3), 237–252.

    Article  Google Scholar 

  • Durkin, M. (2007). Understanding registration influences for electronic banking. The International Review of Retail, Distribution and Consumer Research, 17(3), 219–231.

    Article  Google Scholar 

  • Dyer, J. H. (1994). Dedicated assets: Japan’s manufacturing edge. Harvard Business Review, 72(6), 174–178.

    Google Scholar 

  • Eggert, A., & Ulga, W. (2002). Customer perceived value: A substitute for satisfaction in the business markets. Journal of Business and Industrial Marketing, 17(2), 107–118.

    Article  Google Scholar 

  • Fiorio, L., Mau, R., Steitz, J., & Welander, T. (2014, May). New frontiers in credit card segmentation: Tapping unmet consumer needs. McKinsey Quarterly, pp. 11–18.

    Google Scholar 

  • Federal Reserve Board. (2014). Report on the economic well-being of U.S. households in 2013. Washington, DC: Board of Governors of the Federal Reserve System.

    Google Scholar 

  • Gourville, J. T. (2006). Eager sellers and stony buyers: Understanding the psychology of new-product adoption. Harvard Business Review, 84(6), 98–106.

    Google Scholar 

  • Greenleaf, E. A., & Donald, R. L. (1995). Reasons for substantial delay in consumer decision making. Journal of Consumer Research, 22(2), 186–199.

    Article  Google Scholar 

  • Harrell, E. (2019). Neuromarketing: What you need to know. Harvard Business Review, 97(4), 64–70.

    Google Scholar 

  • Heiko, G., Regine, K., & Elgar, F. (2008). Exploring the effect of cognitive biases on customer support services. Creativity and Innovation Management, 17(1), 58–70.

    Article  Google Scholar 

  • Heskett, J. L., Jones, T. O., Loveman, G. W., Sasser, W. E., & Schlesinger, L. A. (1994). Putting the service-profit chain to work. Harvard Business Review, 72(3), 164–174.

    Google Scholar 

  • Hirschman, A. O. (1970). Exit, voice and loyalty responses to decline in firms, organizations, and states. Boston, MA: Harvard University Press.

    Google Scholar 

  • Jarvis, W., & MacMillan, I. C. (2009). How vulnerable is your business to consumer debt? Harvard Business Review, 87(10), 82–83.

    Google Scholar 

  • Kaplan, R. S., & Mikes, A. (2012). Managing risk: A new framework. Harvard Business Review, 90(6), 48–60.

    Google Scholar 

  • Kim, W. C., & Mauborgne, R. (1999). Creating new market space. Harvard Business Review, 77(1), 83–93.

    Google Scholar 

  • Kincade, D. H., Kim, J., & Gibson, F. (2010). Generational consumer segments and shopping process characteristics: Baby boomers and echo boomers with apparel product selection activities. Journal of Global Fashion Marketing, 1(1), 19–29.

    Article  Google Scholar 

  • Ko, K. S., Lee, M. J., & Kim, Y. E. (2012). A research on addictive use of smartphone by university students. Journal of Digital Contents Society, 13(4), 501–516.

    Google Scholar 

  • Kozinets, R. V., Hemetsberger, A., & Schau, H. J. (2008). The wisdom of consumer crowds: Collective innovation in the age of networked marketing. Journal of Macromarketing, 28(3), 339–354.

    Article  Google Scholar 

  • Léo, P. Y., & Philippe, J. (2002). Retail centers: Location and consumer’s satisfaction. The Service Industries Journal, 22(1), 122–146.

    Article  Google Scholar 

  • Levitt, T. (1983). Globalization of markets. Harvard Business Review, 61(3), 92–102.

    Google Scholar 

  • Liu, T. C., & Wu, L. W. (2007). Customer retention and cross buying in the banking industry: An integration of service attributes, satisfaction and trust. Journal of Financial Services Marketing, 12(2), 132–145.

    Article  Google Scholar 

  • Lundquist, D., & Bhattacharyya, S. (2008). Finding seller quality and quality sellers in online markets: An agent-based analysis. International Journal of Electronic Business, 6(1), 47–66.

    Article  Google Scholar 

  • Martin-Herran, G., Sigue, S. P., & Zaccour, G. (2010). The dilemma of pull and push-price promotions. Journal of Retailing, 86(1), 51–68.

    Article  Google Scholar 

  • Nunes, J. C., & Dreze, X. (2006). Your loyalty program is betraying you. Harvard Business Review, 84(4), 124–131.

    Google Scholar 

  • Palvia, P. (2009). Role of trust in e-commerce relational exchange: A unified model. Information & Management, 46(4), 213–220.

    Article  Google Scholar 

  • Pattarin, F., & Cosma, S. (2012). Psychological determinants of consumer credit: The role of attitudes. Review of Behavioral Finance, 4(2), 113–129.

    Article  Google Scholar 

  • Peck, H. (2006). Reconciling supply chain vulnerability, risk and supply chain management. International Journal of Logistics, 9(2), 127–142.

    Article  Google Scholar 

  • Pinheiro, M. (2008). Loyalty, peer group effects, and 401(k). The Quarterly Review of Economics and Finance, 48(1), 94–122.

    Article  Google Scholar 

  • Quelch, J. A., & Carlson, C. (2011). Reed supermarkets: A new wave of competitors. Boston, MA: Harvard Business School Press.

    Google Scholar 

  • Rajagopal. (2006). Measuring customer value gaps: An empirical study in mexican retail markets. Economic Issues, 11 (1), 19–40.

    Google Scholar 

  • Rajagopal. (2007). International marketing: Global environment, corporate strategy and case studies. New Delhi: Vikas Publishing House.

    Google Scholar 

  • Rajagopal. (2008). Globalization thrust: Driving nations competitive. New York: Nova Publishers.

    Google Scholar 

  • Rajagopal. (2009). Effects of customer services efficiency and market effectiveness on dealer performance. International Journal of Services and Operations Management, 5(5), 575–594.

    Google Scholar 

  • Rajagopal, Castano, R., & Flores, D. (2016). Consumer and markets: Analyzing behavioral shifts and emerging challenges. New York: Nova Publishers.

    Google Scholar 

  • Reichheld, F. F., & Sasser, W. E. (1990). Zero defections: Quality comes to services. Harvard Business Review, 68(5), 105–111.

    Google Scholar 

  • Sharpe, M. E. (2008). Microeconomics in context. Philadelphia, PA: Routledge.

    Google Scholar 

  • Slater, S., & Narver, J. (1995). Market orientation and the learning organization. Journal of Marketing, 59(3), 63–74.

    Article  Google Scholar 

  • Stanforth, N. (2009). Fashion merchandising internships for the millennial generation. International Journal of Fashion Design, Technology and Education, 2(2–3), 91–99.

    Article  Google Scholar 

  • Stulz, R. M. (2009). Six ways companies mismanage risk. Harvard Business Review, 87(3), 86–94.

    Google Scholar 

  • Stokburger-Sauer, N. E., & Wiertz, C. (2015). Online consumption communities: An introduction. Psychology and Marketing, 32(3), 235–239.

    Article  Google Scholar 

  • Trkman, P., Stemberger, M. I., Jaklic, J., & Ales, G. (2007). Process approach to supply chain integration. Supply Chain Management: An International Journal, 12(2), 116–128.

    Article  Google Scholar 

  • Venkatesh, A., Joy, A., Sherry, J. F., & Deschenes, J. (2010). The aesthetics of luxury fashion, body and identify formation. Journal of Consumer Psychology, 20(4), 459–470.

    Article  Google Scholar 

  • Voss, M. D., Calantone, R. J., & Keller, S. B. (2005). Internal service quality: Determinants of distribution center performance. International Journal of Physical Distribution & Logistics Management, 35(3), 161–176.

    Article  Google Scholar 

  • Wakefield, K. L., & Inman, J. J. (2003). Situational price sensitivity: The role of consumption occasion, social context and income. Journal of Retailing, 79(4), 199–212.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. EGADE Business School, Tecnológico de Monterrey, Mexico City, Mexico

    Rajagopal

  2. Metropolitan College, Boston University, Boston, MA, USA

    Rajagopal

Authors
  1. Rajagopal
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Rajagopal .

Rights and permissions

Reprints and permissions

Copyright information

© 2020 The Author(s)

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Rajagopal (2020). Development of Consumer Behavior. In: Transgenerational Marketing. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-33926-5_6

Download citation

Publish with us

Policies and ethics

Search

Navigation