GK
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, and 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: -It is a study of the actions of the consumers that drive them to buy and use certain products. Understanding consumer buying behavior is most important for marketers as it helps them to relate better to the expectation of the consumers.
Detailed explanation-4: -"Consumer Behavior and the Buying Process” describes and analyzes 4 frameworks for understanding how consumers make decisions: cognitive versus emotional, high-involvement versus low-involvement, optimizing versus “satisficing, ‘’ and compensatory versus noncompensatory decision making.