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Understanding consumer behavior is crucial for marketers because it helps them identify and anticipate their target audience's needs, preferences, and buying patterns. This knowledge allows marketers to effectively tailor their products, services, and marketing strategies, thereby increasing the likelihood of attracting and retaining customers. Marketers can make informed decisions about pricing, distribution channels, promotional activities, and product development by analyzing consumer behavior, ultimately leading to more successful and targeted marketing campaigns.
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Why is consumer behavior an important in business education?
We have learned based on definition that consumer behavior attempts to understand consumer wants and their decision making. Which is a very necessary in an organization. If we know the behavior of the consumer regarding their wants then it is a big advantage on our part as a marketer. It will be easy for us to identify and recognizes what to sale and what not to. With this, Consumer behavior is indeed an important course in business education.
Why is the consumers field of experience important to a marketer?
Being a marketer it's quite important to know every single node of a consumer. Knowing the pitch and relevancy, a marketer can easily picture out the product / service / what he / she really wants to sell out.
How can a marketer of very light very powerful laptop computers use its knowledge of customers expectations in designing a marketing strategy?
For Marketer knowing customer expectation can be very advantageous. In this case -- marketer can know what does customer expect in terms of weight and how much fast the computer should be ( Zone Of tolerance). By using Webler's law (refer to customer behavior book) he can create a distinction between, his and competitors product's weight by eliminating those feature which are undesirable-- It can done by doing cost-benefit analysis (CB Analysis).
What is importance of marketing to consumers?
1) What is the importance of marketing to you as a consumer 2) Briefly discuss how the Marketing concept has contributed to the Modern Practice of Marketing today 3) How does marketing affect the activities of organizations including non-profit 4) What is the beauty of Sales promotion to the consumer and the Organization? 5) What is the most important element of the Marketing Mix? and reasons for answer 6) What is the importance of Consumer behaviour to the Marketer?
Describe a consumer product that you think is particularly vulnerable to substitution if you were a marketer for that product what steps must you take to defend your product's position?
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