The recent and contemporary marketing concept brings into limelight the piece of information that with the fulfillment of the needs and wants of the target market or the customers, the organization is more likely to accomplish and achieve their goals and objectives. Furthermore, with the contentment of the customers in a more effective and persuasive manner than that of the competitors, the enterprise would get an edge over their competitors (Hoyer & Macinnis, pp. 16-20, 2009).
One of the important elements of marketing that facilitates the organization in acquainting and understanding the buying patterns of the products and services of the customers. Many of the important questions that includes when, why, how and where people have a tendency to buy a particular product or service come under the analysis and examination in consumer behavior. Furthermore, the study of consumer behavior will assist the businesses and organizations not only to attract new customers, but will also support in retaining the old and current customers that will eventually lead the organization to survive and sustain in the distant future. ...Show more