BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The way consumers behave in a shop.
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Making a repeat purchase.
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The thoughts consumers have and the actions they take when purchasing products.
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Customers being loyal to a business.
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Detailed explanation-1: -Consumer behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer’s emotions, attitudes, and preferences affect buying behaviour.
Detailed explanation-2: -There are four types of consumer behavior: habitual buying behavior, variety-seeking behavior, dissonance-reducing buying behavior, complex buying behavior. Consumer behavior types are determined by what kind of product a consumer needs, the level of involvement, and the differences that exist between brands.
Detailed explanation-3: -The consumer decision-making process involves five basic steps. This is the process by which consumers evaluate making a purchasing decision. The 5 steps are problem recognition, information search, alternatives evaluation, purchase decision and post-purchase evaluation.
Detailed explanation-4: -Consumer behavior is influenced by many factors such as situation, psychological, environmental and marketing factors, personal factors, family, and culture. Businesses try to collect data so that they can make decisions on how they can reach their target audience in the most efficient way.