Conclusion

In conclusion, what can be deduced from the findings of the study of Part B,
most of consumer was agree that they prefer to purchase good products depending on
their brands. A total of 7 respondents indicated agree which is 46.7% and 4
respondents indicated strongly agree which is 26.7%. The study in part B also shows
even if the price is high, most respondents agree that they glad if they can buy
branded goods. A total of 8 respondents indicated agree which is 53.3% and 4
respondents indicated strongly agree which is 26.7%. A luxury item is not necessary
to live, but it is deemed highly desirable within a culture or society. This shows
demand for luxury goods increases when a person's wealth or income increases.
Typically, the greater the percentage increase in income, the greater the percentage
increase in luxury item purchases.

The next study was about the theory of ceteris paribus and this study shows
this ceteris paribus theory is correct based on the study that when income increases,
purchasing power will increase. Most of our respondent (8) which is 53.3% agree and
2 respondent strongly agree that if their income raises, they purchases of goods will
increase. Next study shows that 8 respondent agree (53.3%) if the price of goods is
low, they will increase their purchase. This shows that theory ceteris paribus was right
that if the price of goods falls then purchasing power will increase.

This study investigates numerous factors that impact buyer's behaviour during
online purchase at any E-commerce. Most of our respondent, 8 votes (53.3%) on
moderate and 2 respondent votes disagree (13.3%) which is the question was they
prefer to buy goods online rather than in person. Next study is about purchasing goods
online is more convenient and cost-effective and most of our respondent votes agree
(5)(33.3%) and 4 votes (26.7%) on strongly agree. This shows that online shopping is
the easy solution for busy life in today’s world. In the past decade, there had been a
massive change in the way of customer’s shopping. Despite consumers’ continuation
to buy from a physical store, the users or buyers feel very convenient to online
shopping. Online shopping saves crucial time for modern people because they get so
busy that they cannot or unwilling to spend much time shopping.

First question for part C for consumer behavior was, if the price of good A
falls by 50%, they will purchase it. Most of our respondent was strongly agree which
is 8 votes (53.3%) for strongly agree and 5 votes (33.3%) for agree. Next study was
about even if the price of good A is high, they will still purchase good, our 7
respondent votes moderate (46.7%), 2 votes disagree (13.3%) and 1 votes for strongly
disagree (6.7%). Third study was about if the price of good B rises by 50%, they will
purchase good A. Our respondent vote (5) for agree (33.3%) and 4 votes for strongly
agree (26.7%).
 Fourth study shows if they income increases by 50%, will they purchase
Good A. Most of our respondent was strongly agree which is 7 votes (46.7%) for
agree and 3 votes (20%) for strongly agree. Fifth study was about if they income
increases by 50%, will they purchase both Good A and B. Our most respondent
results vote was equal for moderate and strongly agree which is 5 votes and 33.3%.
This shows that if the price of an item increases, the quantity demanded will decrease
significantly because the item can be replaced with another item that is relatively
cheaper. This shows that theory of ceteris paribus was correct about substitude goods.
Substitute goods are at least two products that could be used for the same purpose by
the same consumers. If the price of one of the products rises or falls, then demand for
the substitute goods is likely to increase or decreased.

In this guide, we’ll take a look at the different aspects and facets of consumer
behavior, and we’ll discuss the most effective types of customer segmentation.
Studying consumer behavior is important because it helps marketers understand what
influences consumers’ buying decisions. By understanding how consumers decide on
a product, they can fill in the gap in the market and identify the products that are
needed and the products that are obsolete. Studying consumer behavior also helps
marketers decide how to present their products in a way that generates a maximum
impact on consumers. Understanding consumer buying behavior is the key secret to
reaching and engaging your clients, and converting them to purchase from you.