ABSTRACT
It is necessary to consider customer requirements and expectations and market size when developing and implementing strategies. The first step is to try and understand what makes consumers buy a brand. There are various ‘models’ of consumer behaviour that help us understand this. The models apply to different buying situations, so we have to understand which are the most suitable for examining a particular situation. It is noted that consumer behaviour has changed much with passage of time, and these changes are illustrated. Market analysis involves assessing the size of markets and their future growth. Being able to forecast accurately is useful in this context. Some forecasting methods make use of qualitative data gained from interviews and discussions, while others depend upon statistical analysis of numerical data.
