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Importance Of The Study Of Consumers Behavior
Consumer behavior importance states the importance of the consumer in marketing and other services related to the product or services they get.
Some important points are mentioned below:
- Consumer behavior helps in expanding the business.
- It helps in improving the products after knowing about consumer's thoughts.
- It helps in making the product available for a long time by updating the products or services regularly.
- It helps to know the consumer's database, group, and types in the particular region.
- It helps in achieving the required target.
Influence Of Advertisement On Consumers Behavior
Advertisement of the products and services also make an impact on consumer's thoughts related to the products or services. Sometimes people don’t know about the particular product, but people get to know about that product due to good advertisement policy. So, it helps in getting the consumer's attention.
Strategy Of Marketing
The marketing strategy of the companies and organizations depend on the behavior of the consumer. Initially, they write the price very low for selling their product in the market. After getting the consumer's attention gradually, they increase their product prices. They do different types of offline and online strategies. It includes pricing the product cleverly, offline and online advertising, broadcasting the product regularly.
Choices Of Consumers
Consumers' choices influence the buying and selling priority of the product or the entire business in a different way. The product business totally depends on the choices of the consumer. So, the companies and enterprises make their product by keeping the choices of consumers in their mind.
Black Box Model
The black box model has a very crucial role in consumer behavior. It gives a proper idea for the product research and analysis. It applies in the study of life situation for the analysis of consumer behavior.
Public Policy
Different types of dangerous products can ruin or harm public health, like cigarettes, tobacco products, wine, etc., so that public policies formation and implementation are a must in society.
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