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Meaning of Consumer Buying Behaviour, Marketing Management Video Lecture | Marketing Management - B Com

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FAQs on Meaning of Consumer Buying Behaviour, Marketing Management Video Lecture - Marketing Management - B Com

1. What is the meaning of consumer buying behaviour?
Ans. Consumer buying behaviour refers to the decision-making process and actions that consumers undertake when purchasing a product or service. It involves various factors such as personal preferences, needs, motivations, and external influences that influence consumer choices.
2. How does consumer buying behaviour impact marketing management?
Ans. Consumer buying behaviour plays a crucial role in marketing management as it helps businesses understand their target audience's needs, preferences, and purchasing patterns. By analyzing consumer behaviour, marketers can develop effective marketing strategies, create products that meet consumer demands, and tailor their promotional efforts to attract and retain customers.
3. What are the key factors that influence consumer buying behaviour?
Ans. Several factors influence consumer buying behaviour, including: 1. Personal factors: Age, gender, lifestyle, occupation, and income level. 2. Psychological factors: Perception, motivation, learning, attitudes, and beliefs. 3. Social factors: Family, reference groups, social class, and cultural influences. 4. Situational factors: Purchase occasion, time constraints, and physical surroundings. 5. Marketing mix: Product attributes, price, promotion, and distribution channels.
4. How can businesses analyze consumer buying behaviour?
Ans. Businesses can analyze consumer buying behaviour through various methods, including: 1. Market research: Conducting surveys, focus groups, and interviews to gather insights into consumer preferences and motivations. 2. Data analysis: Utilizing customer data, such as purchase history, online behavior, and demographics, to identify patterns and trends. 3. Observational research: Observing consumer behaviour in real-life or online settings to understand decision-making processes and influences. 4. Competitive analysis: Studying competitors' strategies and consumer feedback to identify opportunities and potential gaps in the market. 5. Feedback and reviews: Monitoring customer reviews, feedback, and social media interactions to gain insights into consumer satisfaction and expectations.
5. How can marketers use consumer buying behaviour to improve their marketing strategies?
Ans. Marketers can use consumer buying behaviour to enhance their marketing strategies in the following ways: 1. Targeted advertising: By understanding consumer preferences and motivations, marketers can create targeted and personalized advertisements that resonate with their target audience. 2. Product development: Analyzing consumer needs and preferences can help businesses develop products or services that meet those demands, leading to higher customer satisfaction. 3. Pricing and promotion: Understanding how consumers perceive value and respond to different pricing and promotional strategies can help marketers optimize their pricing structures and promotional activities. 4. Customer experience: By understanding consumer behaviour, marketers can design better customer experiences, both online and offline, to improve customer satisfaction and loyalty. 5. Market segmentation: Analyzing consumer behaviour allows marketers to segment their target market effectively, enabling them to tailor their marketing efforts to specific consumer groups and achieve better results.
54 videos|51 docs|22 tests
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