The millennium is witnessing dramatic changes in the market place, change in lifestyle of the consumers and a radical revolution in information technology. The behaviour of the new generation customer has seen drastic changes. His expectation has increased, he has become more knowledgeable, is aware of multiple options to satisfy his needs, and switches over to newer brands for more value for his money. There are increasing number of competitors, both domestic and global, offering higher-value-added products and processes through innovation. This has led to a change in the marketing mix. The consumer has greater purchasing power, he is more educated, uses ultra modern tools-E-commerce and E-business to get more information about products, prices, features, attributes and can make a better choice.
The marketing concept is being followed in its entirety.
Figure shows the customer surrounded by the functional areas of management,i.e., marketing, finance, production and personnel. All the functional areas are working together in an integrated manner, following the marketing concepts, and this leads to customer driven mission, customer-driven vision, customer-driven rewards, customer-driven appraisals, customer-driven goals, customer-driven strategy and customer-driven values. All activities are centered round the customer and the customer is supreme.
Consumer Behaviour Related Interview Questions
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Consumer Behaviour Tutorial
Psychographic Or Lifestyle Segmentation
Concept Of Culture & Subculture
Cultural Variations In Non-verbal Communications
Family Buying Influences, Family Life Cycle And Buying Roles
Diffusion Of Innovation
Personality And Self Concept
Motivation And Involvement
Information Processing Learning And Memory
Attitude Development And Alternate Evaluation In Buying
Search And Evaluation
Purchasing Process And Outlet Selection
Purchase Behaviour (situational Factors)
Models Of Consumer Behaviour
Consumerism (public Policy And Consumer Protection)
Organisational Buying Behaviour
Changing Consumer Behaviour
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