Can You Describe The Interrelationship Between Consumer Behavior And Marketing?

Question

Can You Describe The Interrelationship Between Consumer Behavior And Marketing?

3 Answers

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Answer 1

Marketing is primarily seeking out opportunities for the firm to focus their efforts in by finding an intrinsic need and fulfilling that requirement, thus delighting the customer in the process and maximizing their revenues. The more market share a firm has, the greater is it's survival rate in the market place. Consumer Behavior studies on the other hand focus on understanding the patterns in consumer purchasing behaviors and factors leading to repeat purchase which is the ideal requirement of a firm, to capitalize on those needs and values and maximize their market shares.

Answer 2

Anonymous answered

The Interrelationship Between Consumer Behavior as an academic Discipline And The Marketing Concept

Answer 3

Consumer Behavior is an extension of Psychology and is a practical application of all research into human behavior with respect to purchases they make their decision making processes both on an individual level and as a collective. It delves into the trends and behavioral models that influence a consumers purchasing decision. The level of involvement they show with respect to a particular product and the kind of loyalty they harbor for certain brands. All this falls under the function of Marketing as the prime concern of marketers is to find a consumer need and satiate it with best means possible ensuring that the consumers are not just satisfied but actually delighted.