Consumer Behavior

Consumer Behavior

Jeff Miller

3/15/2009

University of Phoenix

Marketing 435

Instructor

James Ritchie


Consumer Behavior

One definition of consumer behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society." (Perner, L. n.d.)  There are many reasons people purchase certain products. These reasons can be because of price, promotion, product, and place (also known as the 4 p’s).

The study of consumer behavior (CB) is very important to the marketers because it enables them to understand and predict buying behavior of consumers in the marketplace; it is concerned not only with what consumers buy, but also with why they buy it, when and where and how they buy it, and how often they buy it, and also how they consume it & dispose it. According to Professor Theodore Levitt of the Harvard Business School, the study of Consumer Behavior is one of the most important in business education, because the purpose of a business is to create and keep customers. Customers are created and maintained through marketing strategies. And the quality of marketing strategies depends on knowing, serving, and influencing consumers. In other words, the success of a business is to achieve organizational objectives, which can be done by the above two methods.

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In order for a business to sell its products and services as successfully as possible, they need to look at what products they are selling in detail to ensure they will be attractive and needed; the price to ensure it is not too cheap or too expensive; where are the best places for distributing the product; and finally, how can they create interest and awareness for the products. All these elements need to be targeted at the right people at the right time. In order for the company to tackle this correctly, they need to get the right type of ...

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