Scribd
Upload
99 views2 pages

Importance of Consumer Behaviour

Consumer behavior refers to the actions and decisions people make when choosing, buying, using, and disposing of products and services. It is influenced by psychological, sociological, and cultural factors. Businesses must ensure their products and services cater to consumer needs or they will lose money. To gain consumer acceptance, companies must understand what consumers want to purchase. Studying consumer behavior helps marketers understand which campaigns are most effective and how to better target their marketing spending to increase their return on investment.

Uploaded by

Aanchal Parker
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
99 views2 pages

Importance of Consumer Behaviour

Consumer behavior refers to the actions and decisions people make when choosing, buying, using, and disposing of products and services. It is influenced by psychological, sociological, and cultural factors. Businesses must ensure their products and services cater to consumer needs or they will lose money. To gain consumer acceptance, companies must understand what consumers want to purchase. Studying consumer behavior helps marketers understand which campaigns are most effective and how to better target their marketing spending to increase their return on investment.

Uploaded by

Aanchal Parker
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Consumer behavior is the actions and decisions that people or households make

when they choose, buy, use, and dispose off a product or service. Some of the
characteristics of consumer behaviour can
be; how these consumers think, what they need, if they are influenced by their
environment , what is t their motivation for buy different products.
Many psychological, sociological, and cultural elements play a role in how
consumers engage with the market. Consumers may be impacted during these
stages by things including personal views and values, social conventions,
marketing campaigns, product features, and environmental conditions.

Businesses invest a lot of time and resources in their product or service. Hence, it
is absolutely essential that their offerings cater to the needs of their customers. Or
they will incur huge amounts of losses. 

So, in order to make sure that the products, as well as the brand, are well-accepted
by the consumers, it is important to first know what consumers want and are likely
to buy.

Understanding consumer buying behavior is vital for marketers, as it sheds light


on why consumers make the decisions they do. In turn, this will help marketers
to understand which of their campaigns are more effective, and to more highly
target their marketing spend in the future, increasing return on investment.

Consumer behavior refers to the actions and decisions that people and households
make when choosing, purchasing, using and disposing of products and services.
Some of the characteristics of consumer behavior areMaybe;

how consumers think about what they need,

are they influenced by the environment,

what motivates them to buy different products

Many psychological, sociological and cultural factors influence how consumers


interact with the market. During these stages, the consumer may be influenced by

personal beliefs and values,


social conventions,

marketing campaigns of companies,

product characteristics,

environmental conditions, etc.

Businesses invest a lot of time and resources in their products and services.
Therefore, it is necessary to ensure that the product to the customer's needs. Or
suffer a great loss.

Therefore, to ensure consumer acceptance of your product or brand, it is important


to first know what consumers want and what they are likely to purchase.

Hence, detailed study and analysis of consumer behaviour is necessary for


companies.

Understanding consumer buying behavior is critical for marketers as it provides


insight into why consumers make decisions. This helps marketers understand
which campaigns are more effective and allows them to better target future
marketing spend, increasing ROI. 

You might also like