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What is Consumer Behavior?

Analysis paralysis and consumer behavior

❶For example, suppose a consumer carelessly see an advertisement about laptops on Wechat , a popular Chinese social media developed by Tecent.

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What Is Consumer Behavior?
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What Is Consumer Behavior? The knowledge of consumer behaviour enables them to take appropriate marketing decisions in respect of the following factors: A positive consumer behaviour leads to a purchase decision. A consumer may take the decision of buying a product on the basis of different buying motives.

The purchase decision leads to higher demand, and the sales of the marketers increase. Therefore, marketers need to influence consumer behaviour to increase their purchases. Consumer behaviour is different for different products.

There are some consumers who may buy more quantity of certain items and very low or no quantity of other items. For example, teenagers may spend heavily on products such as cell phones and branded wears for snob appeal, but may not spend on general and academic reading. A middle- aged person may spend less on clothing, but may invest money in savings, insurance schemes, pension schemes, and so on. The more a person buys the goods and services, the higher is the standard of living.

But if a person spends less on goods and services, despite having a good income, they deprives themselves of higher standard of living. The consumer behaviour is not only influenced by the status of a consumer, but it also reflects it. The consumers who own luxury cars, watches and other items are considered belonging to a higher status. Sentiment analysis — Understand the sentiment about your brand or product, and how that changes in different demographics. Intelligent market segmentation — As everyone has different motivations, segmenting consumers into groups is vital to understanding your customers in a nuanced way.

By Alex Jones Sep 13th. By Brittany Ryan Sep 6th. By Gemma Joyce Sep 4th. By Manish Dudharejia Sep 3rd. Marketing Published October 28 th What is consumer behavior? The study of consumer behavior includes: How consumers think and feel about different alternatives brands, products, services, and retailers How consumers reason and select between different alternatives The behavior of consumers while researching and shopping How consumer behavior is influenced by their environment peers, culture, media How marketing campaigns can be adapted and improved to more effectively influence the consumer These considerations are influenced by three factors:

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Consumer behavior involves services and ideas as well as tangible products. The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for .

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Understanding consumer behavior is a broad and complicated task, but with the right research mix you can begin to get a detailed understanding of your customers and their motivations.

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To define consumer behavior: it is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services. A more in depth definition will also include how that process impacts the world. Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company. It is critical to understand consumer behavior to.

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Consumer behavior is a hotbed of psychological research as it ties together issues of communication (advertising and marketing), identity (you are what you buy), social status, decision-making. Consumer Behaviour deals with various stages that a consumer goes through before purchasing any product or service. Lets understand the concept in detail with the help of few examples.