Understanding Consumer Ihaviour: The Importance Of Consumer Behavior
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Processes a consumer uses to make decisions of purchase as well as to use and dispose of purchased goods or services, also includes factors that influence purchase decision and the product use. Consumers are moving outside the funnel of marketing by changing the way they research and buy products.
People form impressions of brands every day from touch points such as news reports, advertisements, conversations with family and friends and product experiences. Unless consumers are actively shopping, much of that exposure appears wasted. But what happens when something triggers the buying impulse? These accumulated impressions then become crucial because they shape the initial-consideration set: the small number of brands consumers regard at the outset as potential purchasing options.
Importance of Understanding Consumer Behaviour
•…show more content… Every individual has various sets of habits, beliefs and principles that he/she develops form his family status and background. What they see from their children becomes their culture. 1.2.3. Levels of Consumer Decision Making
An individual who purchases products and services from the market for his/her own personal consumption is can as consumer. To understand the process of consumer decision making completely, let’s consider an example: John went to a nearby retail store to buy a laptop for himself. The store manager showed him all the latest models and after few rounds of negotiations, John immediately selected one for himself.
In the example above, John is the consumer and the laptop is the product which John wanted to purchase for his end-use. Why do you think John went to the nearby store to purchase a new laptop? The answer is very simple, John needed a laptop or in other words, it was actually John’s need to buy a laptop that took him to the store.
The Need to buy a laptop can be due to any of the following reasons:
• His old laptop was giving him