Consumer behavior is the study of the elements that influence individuals' purchasing decisions, including environmental, psychological, and
Question:
Consumer behavior is "the study of the elements that influence individuals' purchasing decisions, including environmental, psychological, and societal factors," (Maryville University, 2023). Consumer behavior looks at why people buy what they buy. The marketing mix is a combination of different areas of marketing which are product, price, placement, and promotion, (Kenton, 2023). Consumer behavior and the marketing mix are directly linked because an organization needs to understand what the customer is thinking when looking to set different aspects of the marketing mix.
What are people looking to purchase, how much are they willing to spend on a product, and where are they looking to purchase the product are all questions that can be answered by understanding the consumer behavior.
What are your thoughts?
Research Methods For Business Students
ISBN: 9781292208787
8th Edition
Authors: Mark Saunders, Philip Lewis, Adrian Thornhill