The Importance of Consumer Behavior to Marketers
The Importance of Consumer Behavior to Marketers
Abstract
In this report, we are going to discus the importance of consumer behavior study, knowledge and understanding to marketers, and how it will have a positive impact on the organization growth and revenue.
We are also, going to discuss the definition, types and the basic concepts in consumer behavior. The motives and the affecting factors will also be addressed in this report as well.
A summary of the major points will be highlighted about the importance and usefulness of a study of consumer behavior in the marketing activity of any organization, which imposes the need to focus on activities that will lead to it, and one of the most important activities is the marketing research.
Table of contents Abstract i
1.0 Introduction 1
2.0 Basic concepts in consumer behavior 2 2.1 The definition of consumer behavior 2 2.2 The types of consumer behavior 2
3.0 Motives, importance and affecting factors of consumer behavior 3 3.1 The motives of consumer behavior 3 3.2 The importance of consumer behavior 4 3.3 Factors affecting consumer behavior 4
4.0 The importance of studying consumer behavior for marketers 5
5.0 Conclusion 5
6.0 Reference list 5
1. Introduction
The behavior of individuals is affected by many factors and their influence varies depending on these factors. There is a clear difference in the behavior of individuals and this is because different people are coming from different countries, regions, races, laws, customs, cultures and other factors.
The study of consumer behavior has been encouraged and conducted by various schools of economic and behavioral. Nowadays, It has become a fundamental and important subject and occupies first place for organizations and as a result of:
• The high number of products in the market and the diversity
• The existence of alternative products
• The intensification of competition
• Evolution and diversity of consumer tastes
2. Basic
Abstract
In this report, we are going to discus the importance of consumer behavior study, knowledge and understanding to marketers, and how it will have a positive impact on the organization growth and revenue.
We are also, going to discuss the definition, types and the basic concepts in consumer behavior. The motives and the affecting factors will also be addressed in this report as well.
A summary of the major points will be highlighted about the importance and usefulness of a study of consumer behavior in the marketing activity of any organization, which imposes the need to focus on activities that will lead to it, and one of the most important activities is the marketing research.
Table of contents Abstract i
1.0 Introduction 1
2.0 Basic concepts in consumer behavior 2 2.1 The definition of consumer behavior 2 2.2 The types of consumer behavior 2
3.0 Motives, importance and affecting factors of consumer behavior 3 3.1 The motives of consumer behavior 3 3.2 The importance of consumer behavior 4 3.3 Factors affecting consumer behavior 4
4.0 The importance of studying consumer behavior for marketers 5
5.0 Conclusion 5
6.0 Reference list 5
1. Introduction
The behavior of individuals is affected by many factors and their influence varies depending on these factors. There is a clear difference in the behavior of individuals and this is because different people are coming from different countries, regions, races, laws, customs, cultures and other factors.
The study of consumer behavior has been encouraged and conducted by various schools of economic and behavioral. Nowadays, It has become a fundamental and important subject and occupies first place for organizations and as a result of:
• The high number of products in the market and the diversity
• The existence of alternative products
• The intensification of competition
• Evolution and diversity of consumer tastes
2. Basic