1 / 6

Importance of Understanding Consumer Behaviour

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.

Brainware1
Download Presentation

Importance of Understanding Consumer Behaviour

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Importance of Understanding Consumer Behaviour

  2. Overview Why Understanding Consumer Behaviour is Important for Business Managers Key Features Thank You TOC

  3. 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.

  4. 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.

  5. 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.

  6. Thank You Brainware University

More Related