IMI201H5 Lecture Notes - Lecture 8: Customer Satisfaction, Consumer Behaviour, Subculture
22 Nov 2020
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Consumer behavior: the buying behavior of nal consumers who buy goods and services for personal consumption. Learn how to persuade or otherwise encourage consumers to purchase their products instead of their competitors" products. Learn how to improve their product offerings in the first place. Can also guide decisions regarding price and place. In short, studying consumer behavior helps marketers improve their ability to create value for customers and also to capture value in return using all four p"s. Consider the pair of socks you are currently wearing . A central tenet of customer relationship management (crm) is that customers buy from the rm that o ers the highest customer- perceived value the evaluation of the di erence between all bene ts and all costs of a market o ering. The value of a product can be very different to different customers (different customers may care about different product features) Products can be valuable in fundamentally different ways .
