Wednesday, November 10, 2010

BUYER OR CONSUMER BEHAVIOUR

A product or service should have a consumer to buy it. Thus, it is very necessary to make a study on the behavioural aspect of the consumer i.e., there must be reasonable answer to the following questions:

*  What does a consumer buy?
*  Where from does he buy?
*  When does he buy?
*  How much does he buy?
    and
*  Why does he buy?
 
Though the first four questions can be answered by carrying out statistical data based market research known as 'retail audit', 'prescription audit', etc., the answer to the last question is indeed a very difficult one and can be answered by carrying out 'motivational research'. 

Nevertheless the answer to the 'Why' of consumer behaviour is the most important factor to any organisation while designing a successful product/service and its marketing strategy.