Importance of consumer behavior-
Consumers are similar but unique in their own way they have their different needs and wants which leads to a different consumption pattern, market satisfies these needs and wants of the consumers and whichever firm able to predict the consumption more efficiently than his competitors make maximum profit. This gave importance to the consumer behavior and it started to be studied as a different subject.
Consumer behavior is defined as the interaction of the forces that take place during the consumption process and the environment of the consumer, it can be also defined as the-
- The interaction that takes place between knowledge, affect and behavior,
- It is the process that stats before the consumption process and keep going even after the consumption,
- It includes stages such as evaluating, acquiring, using and disposing of the goods and services.
The study of the consumer behavior becomes important because it provides reasons and logic to the consumption pattern and the choices made by the consumer while purchasing goods and services. The consumer behavior does not only study the individual decision making process but it also studies the environment or the surrounding around the consumer and how they influence the decision making process of a consumer like family, culture, traditions, groups etc. for example- suppose an individual goes into a restaurant with a group for dinner where he wants to order an non-vegetarian dish but the other members in the group are vegan which will influence the individual to order a vegan dish.
Difficulties faced by a student while solving consumer behavior problem-
The problems faced by the student in consumer behavior is that it is an descriptive subject as well as analytical/ interpretive in nature, descriptive as it uses individual determinants and the environmental influences in the decision making approach of a consumer and analytical in nature that though it has borrowed concepts from psychology, economics and sociology it studies the consumption pattern alone and in groups. The consumer behavior uses quantitative as well as qualitative tools in analyzing the consumption pattern of the consumer. The analysis of the consumer pattern creates a lot of problems for the students because it involves the use of the statistics and econometrics tools to analyze and provide proof to the consumption behavior of an individual.
Another problem faced by the student in consumer behavior is that it involves a lot of questions which needs to be answered to have a better understanding of the consumption pattern like-
- What consumers buy?- goods and services,
- Why consumer buy?- needs and wants,
- When consumer buy?- day, week, month, year,
- Where they buy it?- place,
- How often they buy it?- time interval,
- How often they use it?
Few important tips to solve problems of consumer behavior-
To solve the problems of consumer behavior students must understand the meaning of consumer, "consumer" is an individual who purchases or has the capacity to purchase the goods and services provided by a marketing industry to satisfy the individual needs and wants. The student should understand what influences the behavior of a consumer and have a separate understanding to the individual as well as to the group influences for these descriptive knowledge .students needs to read a lot about consumer behavior. The interpretation part of the consumer behavior use statistical and econometric tools such collecting data of an individual consumption pattern over a period of time, statistical distribution and hypothesis testing to provide a justification to the individual behavior, therefore the students needs to have basic knowledge of statistics and econometrics to understand the concept of consumer behavior. If the student still feels any difficulty in consumer behavior assignment there is Expertsminds.com which provides help to the students online with consumer satisfaction being there utmost priority.
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Consumer behavior is the study of the consumption pattern of an individual and groups which uses tools from microeconomics, statistics and econometrics therefore having a live support which is just an email away is the best solution to any problem in consumer behavior. Any student who is facing any problem in consumer behavior the first thing that will come in the mind of the student is the support provided by Expertsminds.com. The most attractive and interesting part of Expertsminds support is the availability of experts and their support at all point of time to resolve issues related to assignment. Expertsminds.com offers Consumers Behavior Assignment Help, Assignment Writing Help, Consumers Behavior Assignment Tutors, Consumers Behavior Solutions, Consumers Behavior Answers, Economics Assignment help and support of Experts Online
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