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Consumer behaviour is the broad study of individuals or organizations and the processes used by consumers while they search, select, use and place products, services, experience, or ideas to meet their needs and their impact on the consumer and society.
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Overview Why Understanding Consumer Behaviour is Important for Business Managers Key Features Thank You TOC
Overview Consumer behaviour is the broad study of individuals and the processes used by consumers while they search, select, use and place products, services, experience, or ideas to meet their needs. The consumer is a person, who usually searches, selects, uses, and disposes products, services, experience or ideas. The motive of consumers in buying a particular product refers to a strong sense, instinct, urge, desire or emotion that influences the purchaser in their decision to purchase. There are generally two buying motives: a) product motives and b) patronage motives. Understanding consumer behaviour is very crucial for any organization before launching any product. Marketing a product is largely dependent on the factors related to consumer behaviour.
Why Understanding Consumer Behaviour is Important for Business Managers • Design the best product or service possible that fully meets the needs and demands of the consumer. • Decide where the services or products would be made available to consumers for easy access. • Decide at which price consumers would be prepared to purchase this product or service. • Find the best way to promote a product that is effective in attracting customers. • Understand why, when, how, what and other factors influencing consumer decision- making.
Key Features 1. Consumer behaviour is the broad study of individuals and the processes used by consumers while they search, select, use and place products, services, experience, or ideas to meet their needs. 2. The consumer is a person, who usually searches, selects, uses, and disposes products, services, experience or ideas. 3. The motive of consumers in buying a particular product refers to a strong sense, instinct, urge, desire or emotion that influences the purchaser in their decision to purchase. 4. There are generally two buying motives: a) product motives and b) patronage motives. 5. Understanding consumer behaviour is very crucial for any organization before launching any product. 6. Marketing a product is largely dependent on the factors related to consumer behaviour.
Thank You Brainware University
