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Consumer behaviour

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1. Explain in your own words how consumer behavior relates to marketing?

2. When would you use demographic data, behavioral segmentation and psychographic information in making marketing decisions? Please cite an example for each.

3. Is technology an enabler, driver or both in Consumer Behavior and why? Please cite examples.

4. Do elements of the consumer decision-making process impacting Marketing? Please use examples to explain.

5. How does Consumer Behavior impact Global Marketing Strategy or does it? Please explain and cite examples.

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Solution contains detailed description of how consumer behaviour relates to marketing and impact decision making in marketing.

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1. Explain in your own words how consumer behavior relates to marketing?

The study of consumer behavior improves marketing strategies of the company by enabling them to have better understanding of their consumers in terms of what they think, want, their need, taste, preference; how the consumer is influenced by his environment (culture, family, media etc.); and behavior of the consumer while shopping. Limitations in consumer knowledge also affect their decision about buying the product. Marketers need to understand customers' needs, and behavior to improve relevancy and focus towards their target segment. Study of consumer behavior helps organizations improve their marketing campaigns and marketing strategies to more effectively reach the consumer.

2. When would you use demographic data, behavioral segmentation and psychographic information in making
marketing decisions? Please cite an example for each.

The demographic segmentation can be used while deciding about the taste and preference of the target group. It will help the company to divide their target segment into categories like age, gender, ...

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