Understanding Consumer Behaviour: The Key to Business Success
Consumer behaviour refers to the study of how individuals, groups, or organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires. It is a crucial area of focus for businesses aiming to understand what drives customers to make purchasing decisions, enabling companies to tailor their products, marketing strategies, and customer service efforts more effectively. Understanding consumer behaviour involves analyzing various factors that influence a buyer’s decision-making process. These factors can be psychological (such as perception, motivation, and attitudes), personal (such as age, lifestyle, and economic status), social (like family, social groups, and culture), and situational (such as the buying environment and time constraints). Each of these components plays a significant role in shaping how consumers interact with brands and products. In today’s fast-paced digital world, consumer behaviour is evo...