What is Consumer Behaviour?
Consumer behaviour is a process of understanding the behaviour of consumers, and selling the products and services according to them. Marketers use this method to boost their sell and make more profit for the company. It is concerned not only with what consumers buy but also as to why, when, where, and how often they buy it.
Nature of Consumer Behaviour
- Consumer behaviour is a continuous process.
- Consumer behaviour is influenced by various factors.
- Consumer behaviour is different for all customers.
- Consumer behaviour is different for different products.
- Consumer behaviour is vital for marketers.
- Consumer behaviour improves the standard of living.
Scope of Consumer Behaviour
- Consumers play a vital role in the growth of an economy.
- Consumer behaviour focuses on how individuals make decisions.
- Buying and selling is a continuous process. So, consumer behaviour is also a continuous process.
- Consumer behaviour has a vital market.