Consumer Behaviour

A need is a basic requirement, essential for a person's physical and psychological well-being. A want is an upgrade of a basic need influenced by a …

The consumer decision-making process typically involves five stages, including problem recognition, information search, evaluation of alternatives, …

Consumer decision-making is influenced by cultural, social, personal, psychological, marketing mix, and situational factors. These factors alter a …

Culture includes shared values, beliefs, customs, and practices learned from society, family, and social institutions. These elements shape customers' …

A country's culture, subcultures, and subclasses shape consumer needs and preferences. And businesses must consider these cultural elements to stay …

The social environment significantly influences consumers' decision-making processes. Reference groups that individuals identify with, like family or …

Several Personal factors influence consumer decisions. First is the Age and Life Cycle Stage. A family with young children may prioritize safety features …

Psychological factors refer to internal elements, conscious and unconscious, that influence how an individual thinks, feels, and acts.  Psychological …

Consumer buying behavior is categorized into four types based on perceived brand differences and customer involvement levels.  Complex buying …

Consumers encountering a new product exhibit different buying behaviors than when encountering a familiar one. This difference arises from the …

The Learning Model of Consumer Behavior emphasizes that learning can change consumer preferences, attitudes, and decision-making through experiences, …

The psychoanalytic model of consumer behavior focuses on the impact of the unconscious mind on purchase decisions. The model suggests that unconscious …

The Sociological Model of consumer behavior seeks to explain consumer choices by examining social factors and influences.  It assumes consumers' …

The Economic Model of consumer behavior proposes that consumers seek maximum value by comparing prices and quality. It assumes consumers have a fixed …

The Engel Kollat Blackwell or EKB Model explains consumer behavior as a five-stage decision process. The first stage is Problem Recognition. Troy realizes …

The Black Box Model, or the Stimulus-Response model, suggests that consumer decision-making is similar to a black box because a consumer's internal …

The Hawkins-Stern Impulse Buying Model states that spontaneous desires drive impulse buying rather than deliberate intentions. The process unfolds when …

The Howard Sheth Model of Consumer Behavior suggests that consumers are inherently rational, making systematic decisions. The model assumes customers view …

The Howard-Sheth Model provides a framework for understanding consumer decision-making. To illustrate it, let's consider Mike's decision-making …

Customer loyalty is about establishing a lasting connection, where customers choose a particular product or brand repeatedly. The loyal customers keep …

Customer Lifetime Value, or CLV, is the total value a customer brings to a business over the lifespan, that is, the entire period of their relationship …

Customer insights empower businesses to make informed decisions, enabling them to understand and exceed customer expectations. These valuable insights can …

Customers can be categorized based on their behavior, preferences, and purchasing patterns. New customers are first-time buyers, but their future loyalty …

Customer relationships, crucial for business success, are a spectrum from basic transactions to more collaborative interactions, as illustrated by the …