Question: Question 1 Interpreting the reasons for studying consumer behaviour has different implications. Organizations may prioritize on certain factors such as changing product life cycle, or

Question 1 Interpreting the reasons for studying consumer behaviour has different implications. Organizations may prioritize on certain factors such as changing product life cycle, or the augmented role of services marketing with reference to their nature of business and current market requirement. As a student of consumer behaviour, explain ONE (1) most important reason why consumer behaviour is important for each of the below given business entity. Justify your choice with relevant background.

a. A toy manufacturing company. b. A mobile manufacturing company. c. A five-star hotel.

(Total 20 Marks)

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