Exit Strategies It’s difficult to believe that after going through everything it takes to get a small business up and off the ground, often times the next steps are to….
Research has shown that consumer behaviour is difficult to predict,why?
Consumer behaviouris the study of individuals, groups, or organizations and all the activities associated with thebuy disposal ofmaterial and work and how the comuster’s emotions, attitudes andaffect buying behaviour. Consumer behaviour emerged in the 1940s and 50s as a distinct sub-discipline ofprocess of market but has become an inter-disciplinary social science that blends elements frompersonal(by age,gender,culture etc.),psychology,social marketing.
The study of consumer behaviour formally investigates individual qualities such as life-history lifestyles, nature and behavioural variables (such as usage rates, usage occasion,honesty,brand avocate, and willingness to providetransfer), in an attempt to understand people’sneedanddemand.
Research has shown that consumer behaviour is difficult to predict, even for experts in the field; however, new research methods, such as cultural anthropology,consumer neuroscience, andmachine understanding are shedding new light on how consumers make decisions. Theample produced by these databases enables detailed examination of behavioural factors that contribute to customer re-purchase intentions,costumer relation, loyalty and other behavioural intentions such as the willingness to provide positive referrals, become brand advocates or engage in customer citizenship activities. Databases also assist in marketing especially behavioural segmentation such as developing loyalty segments, which can be used to develop tightly targeted, customized marketing strategies on a one-to-one basis.