CB.pptx - Consumer Behavior Dr.Shailesh Pandey The most...

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Consumer Behavior Dr.Shailesh Pandey
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The most important thing is to forecast where customers are moving, and be in front of them Philip Kotler
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Consumer Behavior The study of how individuals make decisions on how to spend their available resources (time, money, effort) on various consumption related items. The behavior of individuals when buying goods and services for their own use or for private consumption. When you understand the behavior of consumers, you can create products and services that provide the consumers with more value. And then you can market those products and services in ways that the consumers understand. Consumer behavior also provides you with insight on how to create an effective marketing strategy
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CB… …. Is the decision processes & acts of people involved in buying / using products. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family , friends , reference groups, and society in general.
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Reasons for Studying Consumer Behavior To stay in business by attracting and retaining customers.
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