Consumer Behaviour
Consumer Behaviour and customer behaviour are interlinked. Consumers are
generally value maximizes. A consumer has an expectation on value and acts on
it. Consumer behaviour is also depended on the brand association he / she has
from it.
A buyer’s satisfaction is a function of the product’s perceived performance
and the buyer’s expectations. Today firms are always on the lookout for gauging
the consumer’s expectations & needs and always are trying to satisfy the
consumer’s needs. Marketers are basing their strategies on the behaviour of the
consumers.
The buying behaviour pattern of the consumers is captured by the
marketers.
A firm will never want to lose its most profitable customers as it will
dramatically affect its profits. Consumer’s today emphasis very much on the
quality of the product that are on the offer.
Marketers play a key role in achieving high levels of total quality so
that firms remain solvent and profitable.
To understand Consumer Behaviour in a proper way, many companies have
now started becoming more skilled in CRM or the Customer Relationship
Management which focuses on developing programs to attract and retain the right
customers and meeting the individual needs of those valued customers.
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