Consumer Behaviour

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.