Q. Explain the Nature of consumer behaviour?
Consumer behaviour is dynamic
The perceptions, feelings, thinking and actions of the customer and the society at large keep changing frequently. For instance number of working women is on rise and this has changed the concept of shopping. The self-motivated nature of the consumer behaviour offers challenges to marketers and the task of creating marketing strategies becomes complex and exciting. Strategies that work today mayn't work tomorrow. Strategies accept in one market mayn't work in another. The product life cycle are appropriate shorter and create additional pressures on marketers to bring innovative products as well as concepts. The concept 'value' changes from time to time. Mahindra and Mahindra had to come out with 'Scorpio' along with launch of 'Bolero
Consumer behaviour involves interactions:
Consumer behaviour engages interactions among people's feelings, thinking and actions and the environment. This forces marketers to comprehend
- What signify to customers and Products and services
- What influences purchase, shopping and consumption
- What consumers need to do to purchase as well as consume products and services.
Consumer behaviour involves exchange:
Consumer behaviour involves exchanges among human beings. People give up somewhat of value to others and receive something in return. Much of consumer performance involves people giving up money to obtain product and services that are exchanges consumers as well as sellers. The role of marketing in society is to assist create exchange by formulating and implementing marketing strategies.