Many continuous and interactive activities are present at each stage of the decision. Consumer behavior is mental process. The market that consists of the consumers is called the consumer market. In other words, a consumer market refers to a market from which different individuals and family members meet their own needs. They purchase goods and services on their urgency. Consumer market consists of those consumers and individuals who buy goods in the hope of enjoying household goods or benefits but do not buy goods for profit.
Consumer market reveals the following characteristics:
- Consumer market consists of the definitive consumer. That is, the buyer himself is a consumer.
- Products are not purchased for profit in the consumer market.
- The purchase of goods and services in this market is small and organized from time to time.
Consumer Behavior
Consumer behavior is the behavior that a buyer performs when purchasing goods or services. Consumer behavior, on the other hand, refers to the actual marketing policies and actions of potential users using products, services or ideas in the public market. It can be said that the purpose of consumption is not only the behavior of the consumer related to the purchase of goods but also the behavior of a person while receiving the service is subject to the behavior of the consumer.
Consumer behavior is a complex psychological process and this behavior is influenced by different factors. Differences in consumer behavior are observed under the influence of all these ingredients. Analyzing consumer demand is unlimited.
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Consumer behavior is motivational behavior. Different type of market stimulus influences the consumer resulting in the formation of an organization in the mind of the consumer and the consumer responds in different ways.
Some factors impact on consumer behavior
A) Consumer behavior changes with the passage of time. It is not a fixed process at any time. With changes in income, tastes, needs, education, technology, ideas changes in consumer behavior.
B) A consumer is at any time an influencer, entrepreneur, decision maker, buyer or consumer