This article explains Consumer Behaviour definition and concept in a simplified way. It also elaborates on nature and meaning in detail with the help of various examples.
Nowadays, consumer is the main focus of any business. Getting an idea about Consumer Behaviour and their actions to purchase or prefer any product is good to make Marketing Strategy. Marketing focuses on the identification & fulfilment of customer needs by offering a product with great value.
Let’s have a look at the concept of Consumer Behaviour or Customer Behaviour.
Points to be Considered to Define Consumer Behaviour:
The following points we should consider while defining Consumer behaviour.
- Consumer: A person or individual who uses Goods or Services
- Behaviour: The way a person behaves toward other people or things.
- Consumer Market: “All the individuals and households who buy goods and services.”
Definition of Consumer Behavior
Consumer Behaviour can be defined as psychological, Social, and physical behaviour of all potential consumers as they become aware of, evaluate, purchase, consume and tell others about products and services.
This is a simple definition of Consumer behaviour that focuses on behavioural factors related to consumers such as psychological factors or nature of consumer, Social influence on consumer, Physical behaviour of buyer and many other related factors.
Concept of Consumer Behaviour
Marketer always trying to learn the following things about the market to know consumer behaviour.
Consumers are the focus of Marketer and product launch and modifications in product or services are depends on customer preferences and demand.
Marketer tries to find out answers of following questions:
1. Who buys products or services?
2. How do they buy products or services?
3. When do they buy goods/ products or services?
4. Why do they buy goods or services?
5. How often they buy Goods or services?
The consumer behaviour of Indian Consumer is different from Americans, Japanese, French or other countries and regions.
Consumer behaviour mainly depends on the influence of values, beliefs, culture, climate, customs, practices and social structure etc.
- Consumers create demand for Goods and Services
- A Business Firm provides delivery or supply of goods and services to the Customers or Consumers
Due to increased competitions, the scenario of products and service quality has been changed a lot.
Nowadays, companies are trying to offer the best service to retain customers.
The old customers were not being attended to properly by the salesman, but now customers are getting a royal welcome from a salesperson.
This is all about the definition And concept of consumer behaviour.
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