Basic concepts of consumer behaviour

What are the basic concepts of customer and consumer?
A customer always purchases a product or service, but might not be the end user.
A consumer is always the end user of a product or service, but might not have purchased it..
What is the basic approach to consumer Behaviour?
The most popular approaches to consumer behaviour can be divided into cognitive, behaviourist and psychodynamic categories.
Cognitive approach to consumer behaviour focuses on information processing capabilities of consumers (Schmitt, 2003)..
What is the basic theory of consumer Behaviour?
Consumer behaviour theory is the study of how people make decisions when they purchase, helping businesses and marketers capitalise on these behaviours by predicting how and when a consumer will make a purchase..
Consumer Psychology Defined
Consumer psychology examines consumers' perceptions, beliefs, feelings and thoughts and considers all of them when examining purchasing behavior.
It also accounts for social persuasion and motivation from third parties to purchasing decisions, such as commercials or advertising.
Key Takeaways.
Consumer theory is the study of how people decide to spend their money based on their individual preferences and budget constraints.
Building a better understanding of individuals' tastes and incomes is important because these factors impact the shape of the overall economy.

The study of consumer behaviour formally investigates individual qualities such as demographics, personality lifestyles, and behavioural variables (such as usage rates, usage occasion, loyalty, brand advocacy, and willingness to provide referrals), in an attempt to understand people's wants and consumption patterns.

What factors influence consumer buying behavior?

As illustrated in the model shown in Figure 3

2, consumer buying behavior is based on stimuli coming from a variety of sources—from marketers in terms of the 4Ps (product, price, promotion, and place), as well as from environmental stimuli, such as economic factors, legal/political factors, and technological and cultural factors

Categories

Basic concepts of consumer behaviour

What are the basic concepts of customer and consumer?

What is the basic approach to consumer Behaviour?

What is the basic theory of consumer Behaviour?

What factors influence consumer buying behavior?