Consumer behavior is the study of how individuals select, purchase, use, and dispose of products and services. Understanding consumer behavior helps marketers in three key ways: 1) Analyzing market opportunities by identifying unmet needs and wants; 2) Selecting target markets by identifying consumer segments with distinct preferences; 3) Developing effective marketing mixes by determining the right combination of product, price, place, promotion, and other factors to appeal to target segments. Consumer behavior studies also assist social and nonprofit organizations in designing effective marketing strategies.
Consumer behavior is the study of how individuals select, purchase, use, and dispose of products and services. Understanding consumer behavior helps marketers in three key ways: 1) Analyzing market opportunities by identifying unmet needs and wants; 2) Selecting target markets by identifying consumer segments with distinct preferences; 3) Developing effective marketing mixes by determining the right combination of product, price, place, promotion, and other factors to appeal to target segments. Consumer behavior studies also assist social and nonprofit organizations in designing effective marketing strategies.
Consumer behavior is the study of how individuals select, purchase, use, and dispose of products and services. Understanding consumer behavior helps marketers in three key ways: 1) Analyzing market opportunities by identifying unmet needs and wants; 2) Selecting target markets by identifying consumer segments with distinct preferences; 3) Developing effective marketing mixes by determining the right combination of product, price, place, promotion, and other factors to appeal to target segments. Consumer behavior studies also assist social and nonprofit organizations in designing effective marketing strategies.
RAUSHAN KUMAR (contribution) AAYUSH PRIYANSHU NAVEEN CONSUMER BEHAVIOUR Consumer behaviour is the study of individuals, groups or organisations and the process they use to select, secure use and dispose a product service experiences or ideas to satisfy the needs and the impacts that these processes have on the consumer and society. APPLICATIONS OF CONSUMER BEHAVIOUR ANALYSING MARKET OPPORTUNITY : Consumer behaviour study helps in identifying the unfulfilled needs and wants of consumers. This requires examining the trends and conditions operating in the marketplace, consumer’s lifestyles, income levels and emerging influences. SELECTING TARGET MARKET : A review of market opportunities often helps in identifying distinct consumer segments with very distinct and unique wants and needs. Identifying these groups, learning hoe they behave aand how they make purchase decision enables the marketer to design and market products or service particularly suited to their wants and needs. MARKETING MIX : Once unsatisfied neeeds and wants are identified, the marketer has to determine the right mix of PRODUCT , PRICE , PLACE ,PROMOTION , PEOPLE , PROMOTION , PHYSICAL EVIDENCE. Here too consumer behaviour study is very helpful in finding answer to many perplexing questions. USE IN SOCIAL & NON-PROFIT MARKETING : Consumer behaviour studies are useful to design marketing strategies by social, government an not-for-profit organisation to make their programmes such as family planning awareness about AIDS, crime against women, safe driving environmental concerns and other more effective initiatives. Thank you