Consumer Behaviour for Quick Revision
Consumer Behaviour for Quick Revision 1. What is Consumer Behaviour? Definition : Study of how individuals meet their needs by selecting, securing, and consuming products or services. Process : Involves recognizing needs, making decisions to satisfy them, and evaluating the outcomes. Importance : Helps businesses understand consumer needs, leading to better communication and marketing strategies. 2. Importance of Consumer Behaviour Better Communication : Knowing consumer needs helps tailor messages. Boosts Sales : Understanding customer preferences increases product appeal. Informed Marketing : Guides strategic marketing planning and execution. Competitive Edge : Allows companies to meet consumer expectations better than competitors. 3. Key Questions in Consumer Behaviour Why do consumers buy? (e.g., lifestyle, group acceptance) What influences their decisions? (e.g., in...