Describe how an understanding of consumer behaviour will help you in your segmentation strategy and

Even though these resources may not answer your research questions fully, they may further illuminate the problem you are trying to solve. Psychographic segmentation includes variables such as Activities, Interests, Opinions, Attitudes, and Values.

It is not surprising then to find that hotel chains like Holiday Inn offer special prizes to reward their frequent visitors. This ad appeals to consumers with a non-authoritarian personality trait because it presents an alternative, somewhat rebellious holiday destination that would be not approved by the more conservative consumer.

consumer behavior model

How companies retain their customers? Vincent P. Consequently, we need to instead employ some theory. At other times, a company may contract with a marketing research analyst or consulting firm to conduct the research.

Do you need to understand customer opinions about something? If you are familiar with the basic procedures of marketing research, you can supervise and even conduct a reasonably satisfactory search for the information needed.

Ease of opening accounts reduces switching costs.

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Consumer Behavior