CONSUMER BEHAVIOUR

Question 1

What is Consumer Behavior?

Answer 1

The study of how and why the consumer behaves in a particular way
when he/she has to buy a product or service.

Question 2

What are the factors influencing consumer behavior?

Answer 2

1. The price of the good or service
2. The price and quality of substitutes
3. The quality of the product or service.
4. Consumers taste
5. Tradition
6. The income of the consumers (affordability)
7. Spending pattern of consumers.
8. Brand loyalty