Consumer Behavior

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This topic covers the study of how consumers make purchasing decisions, including the factors that influence their behavior and the role of advertising and marketing.

Marketing: The study of how companies create and deliver value to customers.
Consumer Decision-Making: The process by which consumers choose products or services.
Branding: The creation and promotion of a company's identity and reputation.
Advertising: The use of various media to promote a product or service.
Market Research: The study of consumer behavior and preferences.
Consumer Loyalty: The degree to which a customer continues to purchase from a particular company.
Pricing Strategies: The methods used by companies to set prices for products or services.
Product Development: The process of creating a new product or improving an existing one.
Customer Service: The support provided by a company to its customers.
Sales and Distribution: The methods used by companies to sell and distribute their products.
Consumer Psychology: The study of the mental and emotional factors that impact consumer behavior.
Ethics in Marketing: The moral and ethical considerations that companies must take into account when promoting their products or services.
Social Influences on Consumer Behavior: The impact of family, friends, and social media on consumer decision making.
Cultural Diversity: The ways in which cultural differences impact consumer behavior.
Digital Marketing: The use of digital channels such as social media, email, and search engines to promote products or services.
Routine Behavior: This type of consumer behavior is characterized by frequent purchases of low-priced, low-risk goods or services. Consumers don't tend to spend much time researching or seeking out alternatives.
Variety Seeking: Consumers who enjoy socializing and trying new experiences often exhibit variety-seeking behavior. They may frequently purchase new types of goods or services, making it difficult for marketers to create brand loyalty.
Dissonance-Reducing Behavior: When consumers make important purchases or face significant expenses, such as buying a car or a house, they may experience post-purchase dissonance. To reduce this discomfort, they may seek out information to validate their decision or return the product.
Online Consumer Behavior: With the rise of e-commerce and mobile devices, online consumer behavior has become increasingly important. This includes behaviors such as product research, browsing, and online reviews.
Eco-Friendly Consumer Behavior: Many consumers are increasingly concerned about environmental issues and seek out eco-friendly products. They may choose products made from sustainable materials, avoid products with harmful chemicals, or support environmentally responsible companies.
Emotional Consumer Behavior: Emotional consumer behavior is driven by feelings and can be difficult to predict or influence. Consumers may buy products based on sentimental attachments or emotions related to the product or brand.
Rational Consumer Behavior: Rational consumer behavior is based on logic, facts, and careful consideration of options. These consumers tend to be less impulsive and make purchases based on factors such as quality, price, and features.
Brand Loyalty: Consumers who exhibit brand loyalty tend to repeatedly purchase products from the same company or brand. This behavior can be influenced by factors such as quality, price, and emotional attachment.
"Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services."
"Consumer behaviour has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics (especially behavioural economics)."
"Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing."
"The study of consumer behaviour formally investigates individual qualities such as demographics, personality lifestyles, and behavioural variables."
"Consumer behaviour also investigates the influences on the consumer, from social groups such as family, friends, sports, and reference groups, to society in general (brand-influencers, opinion leaders)."
"Research has shown that consumer behaviour is difficult to predict, even for experts in the field."
"New research methods, such as ethnography, consumer neuroscience, and machine learning are shedding new light on how consumers make decisions."
"Customer relationship management (CRM) databases have become an asset for the analysis of customer behaviour."
"The extensive data produced by these databases enables detailed examination of behavioural factors that contribute to customer re-purchase intentions, consumer retention, loyalty, and other behavioural intentions."
"Databases also assist in market segmentation, especially behavioural segmentation such as developing loyalty segments."
"Tightly targeted customised marketing strategies on a one-to-one basis."
"Behavioural variables (such as usage rates, usage occasion, loyalty, brand advocacy, and willingness to provide referrals)."
"Consumer behaviour also investigates the influences on the consumer, from social groups such as family, friends, sports, and reference groups, to society in general."
"Behavioural factors that contribute to customer re-purchase intentions, consumer retention, loyalty, and other behavioural intentions."
"The study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services."
"Elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics."
"New research methods, such as ethnography, consumer neuroscience, and machine learning are shedding new light on how consumers make decisions."
"Customer relationship management (CRM) databases."
"Detailed examination of behavioural factors that contribute to customer re-purchase intentions, consumer retention, loyalty, and other behavioural intentions."
"Databases also assist in market segmentation, especially behavioural segmentation such as developing loyalty segments."