Importance of Consumer Behaviour in Marketing
According to Engel, Blackwell, and Mansard, ‘consumer behaviour is the actions and decision processes of people who purchase goods and services for personal consumption’. Consumer Behaviour, also known as buyer behaviour, refers to how individuals are buying, consuming or disposing products or services. As these actions are impacted by multiple factors, studying consumer behavior involves significant research. This takes into account product search, how it’s features are evaluated by people, purchase and consumption patterns, to name a few. The post-purchase behaviour of a product is also studied as it represents whether the buyer is satisfied with it or not. According to a report (www.salesforce.com, nearly 76% of consumers expect companies to understand their needs and expectations. What this means that if you don’t understand what a consumer wants before they can tell you, they are probably taking their business elsewhere. So why is understanding and analysing consumer behavior impo...