Consumer Behavior Case Study

The Significance of Understanding the Consumer Behavior

Consumer behavior is understood as the study of what products or services consumer buys? Why they buy the products? What are their buying motives? Who makes the purchase decision? How much they buy? Where they buy? What is their preferred method of paying for the product, cash or credit? What is the consumer buying decision process? Which factors influence consumer buying decisions? Consumer behavior is dynamic. Consumer behavior is influenced by cultural, social, personal and psychological factors. The culture, subculture and social class of the consumer influences their buying decision(s). Culture is inherited, learned and passed on from one generation to another generation. People

The role and status of the consumers also influence their buying decision(s). The personal factors like the stage of the family life cycle, economic circumstances like the level of income, savings and assets, personality and lifestyle of the consumer also influences their buying decisions. The psychological factors like consumer motivation, what is their unsatisfied need for which they are seeking satisfaction with the purchase of product(s), consumer perceptions about the products, consumer learning also influence their buying decisions. Brand preference, brand loyalty is learned, through consistent satisfaction with the market offering(s) or

The study of consumer behavior and consumer behavior research process is as significant as the marketing research process to the business firm(s). The study of consumer behavior can be useful in identifying the unsatisfied needs of the consumers or market segment(s) and satisfying those needs with the market offering(s), with profitability. The consumer behavior research can be quantitative or qualitative. The consumer behavior qualitative research with small samples, and personal interviews and focus group is exploratory in nature and can become the basis for quantitative studies with larger samples with primary data collection methods like experiments, observation and