MKT 313 Consumer Behavior

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Formulating appropriate and effective marketing strategies for consumer behaviour must begin with a clear and accurate understanding of consumers. This includes understanding the needs and desires of consumers, the process of meeting them and the environment in which such behaviour occurs. The objectives of this course are as follows: (1) to introduce students to the concepts developed in psychology, economics and sociology and their relationship with consumer behaviour, (2) to allow students to directly participate in the research and analysis of consumer behaviour, (3) Develop the ability of students translate what they have learned into marketing action.

Consumer buying behaviour refers to the study of customers and their behaviour when deciding whether to purchase products that meet their needs. It is the study of consumer behaviour that motivates them to buy and use certain products.

Studying consumer buying behaviour is most important for marketers because they can understand consumer expectations. It helps to understand what motivates consumers to buy a product. It is important to evaluate the types of products that consumers like so they can bring them to market. Marketers can understand consumer likes and dislikes and design their marketing efforts based on survey results.

Understanding consumer behaviour is critical to a company's success in launching existing and new products. Each consumer has his own thought process and his own attitude towards buying a particular product. If the company fails to understand the customer's reaction to the product, the likelihood of product failure is high.

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