3) Consider fast food resturants. Now apply conecpts that are realted to the term "Consumption Behaviors" that are talked about when talking about consumers.
What implications might this analysis carry in developing business strategy for a particular resturant?
5) A business is interested in throughly understanding the opinions held by its customers following product cnsumption. Given this objective what suggestions do you have about what shoudl be examined?
The study of consumption behavior is extremely necessary in order to stay ahead of the competition and capture biggest market share, especially for an extremely competitive business like Fast Food restaurant.
Consumers shop to consume, and they shop to solve problems. Understand the problem and one has the key to unlock a market's potential. Consumers will only decide to purchase if it meets a relevant need - or solves a problem. The analysis of consumption behavior involves complete understanding of the environment in which the brand is consumed- the occasion, the location in addition to the end user and the need fulfilled. Consumption behavior highlights the factors driving market growth as well as those working against the growth.
In order to apply the concept of "consumption behavior" to a fast food restaurant in order to better serve its customers and fulfill their needs and wants, one has to analyze a wide ...