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General Information on Marketing
Pages 10 (2510 words)
General Information Contents Contents 2 Question 2 4 Question 3 5 Question 4 6 Question 5 7 Question 6 8 Question 7 9 Question 8 10 Question 9 11 References: 13 Question 1 Consumer behaviour plays a very vital role in understanding the buying patterns prevalent among individual or organizational buyers for the products or services, an organization is offering in the marketplace.
Importance in Marketing The world, today, is a global marketplace. The emergence and strong penetration of internet all over the world, has facilitated the evolution of the virtual marketplace through the popularization of sites like Amazon.com, eBay. The big and small enterprises, which are catering to the needs of the customers on an individual or a business level, are trying to beat each other in the global market place, by competing with each other in various markets all around the globe, while using technology as the primary tool for marketing. So, as a matter of fact, today’s consumer has the power of information, using which they can access or source the product or service of their preference from anywhere around the globe. As a matter of fact, the companies have to understand the customer’s or client’s requirements in a more effective manner in order to cater to their needs and to estimate the forecasted demand from their products or services in a more effective manner. Analyzing consumer behaviour helps the organizations to identify and idealize, how consumers are supposed to behave in the market with relation to a particular product or service (Haynes, et. al, 2007, p.4). ...
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