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Consumer behavior and the business decision making process

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This solution examines how an organization's understanding of consumer behavior can lead to profit for a business. It links the six stages of of the buying process, showing how business need to manage them to be successful. From recognizing the consumers problem, being able to respond to the problems against the alternative solutions, to the consumers evaluation of the product after the purchase, each step is linked and will determine if an organization will have a profitable relationship with the consumer.

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Solution Summary

The role of consumer behavior in business decision making examines the six stages of the buying process, illustrating how each stage plays a role in forming a profitable relationship between the organization and the consumer.

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The Role of Consumer Behavior in Business Decision Making

Understanding consumer behavior is tricky to say the least. Done effectively, consumer behavior can correlate to a profitable business. Consumers are entities that make purchases. Every business needs consumers. Understanding what consumers want is an art and a science. ...

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