Chapter 6, Problem 1QA

Summary Introduction

To determine:The concept ofConsumer behavior along with its importance for marketers.

Introduction:

Consumer behavior can be defined as the study of the process involving purchasing of goods by consumer, using and disposing off the products, services and experiences, the ultimate goal which is to satisfy human wants and desire.

Explanation of Solution

Consumer behaviour includes the following:

1. Behaviour of consumers individually and in groups.

2. Changing of consumer behaviour patterns with respect to types of product, and services, they want to purchase.

3. The questions involving buying decisions.

4. Feeling of customers before buying a product.

So understanding the behaviour of consumers plays a very vital role for successful business planning and profit maximization.

It is important for marketers to understand consumer behaviour due to the following reasons:

1. for designing goods in such a way so as to satisfy consumer needs and desire.

2. To do the pricing so that consumers get ready to buy that product.

3. To promote the goods properly in order to attract the customers.

4. To make the product availability for easy access of customers.

5. To understand the factors that influences the buying decision of the consumers.

So, from the above discussion it is clear that why the marketers need to study consumer behaviour.