Changer All 038 2 Kumara Islam 126 3 Rift Has 128 4 Saris Johan 142 5 Pizza Noshing Raman 182 Date of submission- 24/08/2014 Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, r ideas to satisfy needs and the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology, marketing and economics.

It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behavior. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference roofs, and society in general. Consumer Decision Making: There are three-Stage Model like- 1 . Pre-purchase Stage 2. Service Encounter Stage 3.

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Post-purchase Stage Consumer behavior model for banking industry Pre-purchase Purchase Post-purchase Search, Experience and credence properties Search indicates the quality that consumer can determine before purchasing a product, in this case the interest rate, Credit card facility may consider. Experience indicates after services, in this case, the regular updates of offers, the gifts are considered. Credence means consumer may find impossible to evaluate after purchase. Consumer choice Need recognition For the safety and security need.

Information search Personal sources- Friends, family. Perceived risks Financial risk Evaluation of alternatives Similar banks like- Standard chartered, HISS, City Bank, Dacha Bank, ABLE and so on It indicates the behavior when consumers decided to get services from the specific bank. Like- after evaluation consumer wants to get facility from Standard Chartered bank. Word of mouth- Next purchase will strongly affected by peoples view Attribution of dissatisfaction- It indicates not satisfied with services like- they are not amicable, not provide any gifts in occasions like- did-u;-vital.

Positive and negative biases- Negative events lasts more than positive. Like bad behavior from employees. Brand loyalty- Some people are loyal to particular banks so they are not switching to other banks. Consumer behavior model for insurance industry product, in this case the bonus, number of installments facility may consider. Experience indicates after services, in this case, the regular updates of offers, the fits are considered. Credence means consumer may find impossible to evaluate after purchase.

Consumer choice Social risk Life insurance companies American Life Insurance Company, Briar Life Insurance Company Ltd. , Delta Life Insurance Company Ltd. , Fares Islam Life Insurance Co. Ltd. , Golden Life Insurance Ltd. , Homeland Life Insurance Company Ltd. Meghan Life Insurance Company Ltd. , National Life Insurance Company Ltd. , Pads Islam Life Insurance Company Ltd. And so on. Non-Lifer insurance companies- Agrarian Insurance Company Ltd. , Asia Insurance Ltd. , Asia Pacific Gene Insurance Co. Ltd. , Bangladesh Co-operatives Ins.

Ltd. , Bangladesh General Insurance Co. Ltd. , Bangladesh National Insurance Co. Ltd. Bank. Like- after evaluation consumer wants to get facility from Delta Life insurance. Word of mouth- Next purchase will strongly affected by peoples view Attribution of dissatisfaction- It indicates not satisfied with services like- they are not amicable, not provide any gifts in occasions like- did-u;-vital. Positive and negative biases- Negative events lasts more than positive. Like bad behavior from employees. Brand loyalty-

Some people are loyal to particular insurance company so they are not switching to other insurance company. Consumer behavior model for Health product, in this case the charge, Credit card facility, environment may consider. Similar hospitals like- LAB aid, Central, Holy family, Apollo and so on bank. Like- after evaluation consumer wants to get facility from Apollo. Word of mouth- Next purchase will strongly affected by peoples view Attribution of Some people are loyal to particular Hospitals so they are not switching to other Hospitals.

Consumer behavior model of Recreation reduce, consumer wants to enjoy a movie from cinema hall, in this case the seating facilities, decoration may consider. Experience indicates after services, in this case, the regular updates of offers, the gifts are considered. Credence means consumer may find impossible to evaluate after purchase. Consumer choice Similar cinema halls like- Get Song's, Modality, Balk, Rookie, Amanda, Purina, Chenille and so on. Bank. Like- after evaluation consumer wants to get facility from Chenille. Word of Some people are loyal to particular hall so they are not switching to other Halls.