Consumer behaviour

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Chapter 2 Summary: A Framework for Consumer Analysis
This chapter provides an introduction to consumer behavior. “Consumer is the most important person. The business revolves around the consumer.”All of us are consumers. We consume things of daily use; we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods,speciality goods or, industrial goods.
What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age andfamily cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy ornot to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poorsocieties, the consumer can barely meet his barest needs. The marketers therefore tries to understand the needs of different consumers and having understood his different behaviors which require an in-depthstudy of their internal and external environment, they formulate their plans for marketing
Consumer behavior can be defined as the decision-making process and physical activity involved in acquiring,evaluating, using and disposing of goods and services. This definition clearly brings out that it is not just the buying of goods/services that receives attention in consumer behavior but, the processstarts much before the goods have been acquired or bought. A process of buying starts in the minds of the consumer, which leads to the finding of alternatives between products that can be acquiredwith their relative advantages and disadvantages. This leads to internal and external research. Then follows a process of decision-making for purchase and using the goods, and then the post purchase...
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