Consumer behaviour
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics. The study of consumer behaviour formally investigates individual qualities such as demographics, personality lifestyles, and behavioural variables, in an attempt to understand people's wants and consumption patterns. Consumer behaviour also investigates on the influences on the consumer, from social groups such as family, friends, sports, and reference groups, to society in general. Due to the unpredictability of consumer behavior, marketers and researchers use ethnography, consumer neuroscience, and machine learning, along with customer relationship management (CRM) databases, to analyze customer patterns. The extensive data from these databases allows for a detailed examination of factors influencing customer loyalty, re-purchase intentions, and other behaviors like providing referrals and becoming brand advocates. Additionally, these databases aid in market segmentation, particularly behavioral segmentation, enabling the creation of highly targeted and personalized marketing strategies.
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