Question

Write an essay about: what is consumer behavior? Give examples of the types of questions about consumer behavior that marketers investigate

Answer 1

Consumer Behavior

Consumer behavior is the study of how individual customers, groups or organizations select, buy, use and dispose ideas, goods and 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.

Types of questions about consumer behavior that marketers investigate

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 are obsolete and how best to present the goods to consumers. The various types of questions includes are shown as follows:-

• What are the various factors that influence the consumer behavior? The various factors include Marketing factors such as product design, price, promotion etc., Personal factors such as age, gender, education and income level, Psychological factors such as buying motives, perception of the product and attitudes toward the product etc.
• What should be the maximum price of the product at which consumer is willing to buy?
• Which promotional strategies are most effective in sale of the product?

Therefore all the above mentioned questions are the types of questions about consumer behavior that marketers investigate.