Nature, Scope, Importance and Application of consumer behavior
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Consumer behavior is a systematic process influencing buying decisions affected by various factors such as marketing, personal, psychological, situational, social, and cultural. It varies among different consumers and products, impacting marketers' strategies. Understanding consumer behavior is essential for making informed marketing decisions and adapting to changes over time.
Nature, Scope, Importance and Application of consumer behavior
- 2. Nature of Consumer Behaviour Systematic process Consumer behaviour is a systematic process relating to buying decisions of the customers. Influenced by various factors Consumer behaviour is influenced by a number of factors the factors that influence consumers include marketing, personal, psychological, situational, social and cultural etc Different for different customers Different consumers behave differently. The different in consumer behaviour is due to individual factors such as nature of the consumer's lifestyle, culture etc.
- 3. Nature of Consumer Behaviour Different for different products Consumer behaviour is different for different products there are some consumers who may buy more quantity of certain items and very low quantity of some other items. Vital for marketers The knowledge of consumer behaviour enables marketers to take appropriate marketing decisions. Undergoes a change The consumer behaviour undergoes a change over a period of time depending upon changes in age , education and income level etc
- 4. Scope of Consumer Behaviour Consumer behaviour and marketing management Consumer behaviour and non profit and social marketing Consumer behaviour and Government decision making Consumer behaviour and demarketing Consumer behaviour and consumer education
- 5. Application of Consumer Behaviour Analysing market opportunity Selecting target market Marketing-mix decisions Use in social and non profits marketing
- 6. Importance /significance of Consumer Behaviour Production policies Price policies Decision regarding channels of distribution Decision regarding sales promotion Exploiting marketing opportunities Consumer do not always act or react predictably Highly diversified consumer preferences Rapid introduction of new products Implementing the "Marketing concept
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