Consumer behaviour notes

Consumer behaviour is the study of their buying choices, i.e., why they buy or don't buy a specific product or service, the processes of decision making, and the motivations behind those decisions.

Engel-Kollat-Blackwell (EKB) Model of Consumer Behavior

The Engel-Kollat-Blackwell model of consumer behavior outlines a five-stage decision process that consumers go through before purchasing a product or service.
1) Awareness: During this stage, consumers view advertisements from a business and become aware of their need, desire, or interest, to purchase what they've just discovered.
2) Information Pr.

How can data be used to analyze consumer behavior?

Data from sources such as:

sales data

web analytics

and social media can be analyzed to gain an understanding of customer behavior.
This method entails recognizing patterns and trends in data in order to determine consumer behavior and preferences.
Online surveys are the most efficient method of conducting consumer behavior studies.

What determinants influence consumer behavior?

Most market researchers believe a person’s family is one of the biggest determinants of buying behavior.
Psychological factor A person’s ability to understand information, perception of needs, and mindset influence consumer behavior.
One’s reaction to a marketing campaign will depend on one’s beliefs and state of mind.

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