IMPORTANCE OF CONSUMER BEHAVIOR FOR AN ORGANIZATION

IMPORTANCE OF CONSUMER BEHAVIOUR FOR AN ORGANIZATION:

Importance of consumer behavior helps to answer the following questions and hence highlights the need for the consumer behavior:

  • First of all, it helps to understand the occupants of markets.
  • Its also helps to understand what object is bought in the market.
  • It helps to understand the reasons that why a consumer involves in buying.
  • It clarifies the organization’s participation in buying.
  • The process adopted by the market before & after buying.
  • The occasions and time the, products or services are bought.
Importance of Consumer Behaviour:

  • Consumer behavior is the segment of the market.
  • It also helps in the planning of marketing company according to the needs of the consumer.
  • It equally important to understand the ever-changing¬†tastes of the consumer.
  • The consumer is the king of the market. In addition, market cant¬†gets profit without consumers.
  • The consumer does not always act or react as the theory suggest.
  • Consumer¬†preference also changes and become highly diversified.
  • It helps to understand the consumer decision-making process.
  • The determine which method of promotion would be the most effective for getting the customer to buy a product.
  • It also helps in improving the performance of the organization.

 

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