Question

Why do we need to study consumer behavior?

Answer 1

Importance of Consumer Behaviour to business managers. The main purpose behind marketing a product is to satisfy demands and wants of the Consumers. Study of consumer behaviour helps to achieve this purpose. ... To understand why, when, how, what and other factors that influence buying decision of the consumers.

Answer 2

Studying consumer behavior is very much emphasized for the following reasons.1. To satisfy need of customersConsumers respond favorably while evaluating the products that best satisfy their needs. A marketer studies how consumersspend their available resources on the consumption of related items. It includes the study of what they buy, when they buy it,where they buy it and how oftenthey use it. So, a knowledge of consumer behavior will be of immense help to the marketer which will help to satisfy their needs.