Problem:
Need assistance with the following Marketing questions:
Although a relatively recent addition to the marketing lexicon, Consumer behavior initiatives have rapidly positioned themselves as the ultimate accomplishment in an organization understanding its customers. Although many organizations attempt to determine what elements encompass the psychological process a customer undergoes few actually succeed. Additionally, some organizations don't understand any potential value or return on investment that determining consumer behavior will provide. Others may feel that they don't possess the resources required to unlock such esoteric marketing concepts like psychographics and consumer lifestyle.
Is it worthwhile for every organization to determine its customer's purchase behavior, decision making process, lifestyle choices, and other psychographical variables? Why or why not? Make sure to support your thoughts with as many real-life examples from your experiences or your reading as possible.