Consumer's Behavior: Strategy Formulation

Authors

  • Dr. Anita Pandey
  • Ms. Akansha Pandey

Abstract

Consumer is the person who purchases goods and services for personal use. The term stands for anyone engaging in any of these activities like: evaluating, acquiring, using or disposing of goods and services. Behavior occurs either for the individuals or for group. The behavior of individuals, groups or organizations are studied and processed to ascertain the impact that consumers have on the society. Consumers’ behavior mainly focuses on how individuals take decision to spend their available resource to satisfy their needs. It is based on some questions like what to buy? When to buy? How to buy? Where to buy? How much to buy? etc. Its thorough study helps firms and organization to improve their marketing strategies by understanding some issues like the psychology of consumers’ thinking feelings and how they are influenced by environment and society.1 Thus the study of consumer behavior helps to verify the internal and external motives that influence human habits. It helps a marketer to determine needs, expectations, problems and preferences of a consumer which help in estimation of demand of products or services in today’s digitized and highly competitive world.

References

https://en.wikipedia.org/wiki/Consumer_behaviour

Philip Kotler & Gary Armstrong 1st edition Principle of Marketing. Nov.1998 P. 160-161.

Dr. A.K. Mittal & Dr. S.B. Agarwal Principles of Marketingl. pp. 120-134.

https://en.wikipedia.org/wiki/Consumer_behaviour

Philip Kotler 11th edition, 2003, principles of marketing Chapter- Building Customer’s Satisfaction, Value & Relation. Page No. 6.4.

Philip Kotler & Gary Armstrong 1st edition Principle of Marketing. Nov.1998 P. 160-161.

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Published

30-12-2017

How to Cite

Dr. Anita Pandey, & Ms. Akansha Pandey. (2017). Consumer’s Behavior: Strategy Formulation. Research Inspiration: An International Multidisciplinary E-Journal, 3(I), 46–70. Retrieved from http://researchinspiration.com/index.php/ri/article/view/82

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