The reason for studying consumer behaviour lies in its general characteristics, as it may affect present day business operation. These characteristics can be described as below:
* The Consumer is the King.
* The Consumer Behaviour can be known.
* The consumer's behaviour can be influenced.
Why Study Consumer Behaviour?
* It will help to segment the market usefully
* It will aid in development of an effective marketing mix
* It will help to assess new market opportunities concept is unlikely to get discarded for a very long time to come, because there would always be products and populations of such a nature that some companies would feel.
What influences Consumers' Buying Decision Process?
Consumers' buying behaviour is influenced by cultural, social, personal and psychological factors. The cultural factors exert the broadest and deepest influence.