Why is the study of consumer behavior important to marketers
The importance of studying consumer behavior
okay let's do this today I'm going to
teach you what consumer behavior is
first of all it is defined as the area
of research within the field of
marketing that focuses on how consumers
acquire use and dispose of goods
services time and ideas consumers can be
individuals families or other groups
such as teams and companies let's try to
understand the importance of studying
consumer behavior suppose you need a new
phone how would you go about satisfying
this need where would you turn to for
information how would you set your
budget where would you buy the phone
these are just some decisions consumers
face on a regular basis interestingly
each consumer will answer these
questions differently based on their
backgrounds and some psychological
factors for a company that makes phones
the answers to these questions will help
them know the types of phones to design
the price consumers are willing to pay
and where they should sell their phones
it is very important to understand how
consumers make decisions because the
best way to create and keep customers is
to understand what motivates their
consumption decisions and anticipate
their consumption needs only this way
companies can design products services
and offers that will make their
customers happy
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you
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