The sector of consumer behavior is big, and highlights the importance of the customer at the center of the marketer's universe. Each consumer is unique with different needs and wants and buying choices and habits are influenced by habit, and choice that are in turn tempered by psychological and social drivers that affect purchase decision processes. It is a complex multi dimensional variable.
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Knowledge of consumer behaviour is critical for influencing not only product purchase decisions but also important marketing decisions for commercial firms, non profit organizations, and regulatory agencies. Applications of consumer behaviour decisions lie on marketing strategies, regulatory policies, social marketing, and informed individual.
The term consumer decision produces an image of an individual carefully evaluating the attributes of a set of products, brands, services and rationally selecting the one that solves a clearly recognized need for the least cost.
Consumers make numerous decisions everyday; sometimes even when they are not consciously aware of how and why they have made a choice. The consumer as a decision maker is viewed in different ways by distinctive groups of researchers. The economic view holds that consumers are rational decision makers, while some other researchers view the consumers as uninvolved passive decision makers.
Author:- Alok Gupta, Modak Priy, Praveen Gupta, Vineet Dixit
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