ABSTRACT
A consumer is a sightseer of the premises of the company. The independent variable is the consumer, and the dependent variable is the company. The company grows with the growth in the consumers, and so he is treated as part of the external micro environment of the business, which directly affects the firm’s functioning. Therefore, major importance is given to the study of consumer’s behavior so as to provide them with the goods and services which they need in order to satisfy their wants. When the consumers are heard the company can find many amazing ideas. Consumer buying behavior is a process that involves the knowledge regarding the need, want, desire, expectations, nature, psychology, behavior, environment, frequency, and all other things of the consumer’s inner and outer notion.
The chapter deals with the major understanding regarding the meaning of consumer buying behavior in line with the analytics and its characteristics. It also explains the components, types, and the process through which it happens. The various factors influencing consumer buying behavior are being discussed with the importance of the knowledge regarding the behavior of the consumer. Also, various analytical models relating to consumer behavior while acquiring goods/services are being explained.
The methodology for analysis used in the chapter is a survey of 148 people on their perspective as a consumer towards the shopping of goods 104and services. Around 13 questions were asked to them for a clear concept of consumer buying behavior.
The composition of the chapter will have two pages for the introduction, including meaning. Further, the characteristics and components of the consumer behavior will be covered in one page each approximately. Also, one page each for process and types of consumer buying behavior. The models of consumer behavior in three pages approximately and three pages for factors influencing and two for the importance of consumer behavior. Also, a page for conclusion.
The chapter highlights the numerous themes that suggest how the consumers play on the front line in an organization and the significance of the subject in the career of a company. The chapter underlines the reason for the growth and the increase in the supply by the companies is majorly due to the understanding of the consumer buying behavior.
