What is Consumer Behaviour?

Consumer behaviour is the study of how individual customers, groups or organizations select, buy, use, & dispose ideas, goods & services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions.

In simple words: Consumer behaviour is the study of how consumers make decisions about what they need, want, and desire and how do they buy, use, and dispose of goods.

The "Marketing Concept" is all about the customer needs and its satisfaction, Creating value and retaining the customers.

The study of consumer behaviour assumes that the consumers are actors in the marketplace and with the per­spective of role theory.

Role theory assumes that consumers play various roles in the marketplace. Starting from the information provider, from the user to the payer and to the disposer, consumers play these roles in the decision process.

The roles also vary in different consumption situations;

Example- A parent wither your mother or your father plays the role of an influencer in a child’s purchase process, whereas he or she plays the role of a disposer for the products consumed by the family.

Marketers expect that by understanding what causes the consumers to buy particular goods and services, they will be able to determine—which products are needed in the marketplace, which is obsolete, and how best to present the goods to the consumers.

IMPORTANCE OF CONSUMER BEHAVIOR

It is very important to understand the importance of consumer behavior to understand that what influences the buying decision of the consumers and WHY?

And if marketers understand that how consumers decide then it will be possible to understand the & fill in the gap & identify which product is needed and which products are obsolete in the market, which further will help the marketers to present the product in a way that will impact on the consumers.