Question 1

What are the five main factors that consumer behaviour is based on?

Accepted Answer

The factors that significantly influence consumer behaviour are endless and cannot be clearly defined. However, the five primary driving forces are self-interest, perception, barriers, culture and demographics.

Question 2

How does income influence consumer behaviour?

Accepted Answer

Income has a major influence on the buying behaviour of an individual. The more the income, the higher the purchasing power the consumers have.

Question 3

Why is consumer behaviour important for a business?

Accepted Answer

Consumer behaviour helps organisations decide which product or service they want to manufacture and sell. Knowing what customers are more likely to spend money on can help companies easily discern a need yet to be satisfied.

Question 4

Why is a customer important to a business?

Accepted Answer

A customer purchases the goods or services that a company offers and are directly related to driving revenues. In other words, without customers, a business cannot exist.

Question 5

What are consumers?

Accepted Answer

Consumers are the primary demand source for all goods and services, and demand controls the market or production.

Question 6

Why does education impact consumer behaviour?

Accepted Answer

Consumer education is important because it is via education that they learn about important factors like safety, nutrition, health care, and environmental issues that can influence their personal factors that lead to purchase decisions.

Question 7

What are societal factors in consumer behaviour?

Accepted Answer

The main societal factors that affect consumer behaviour are family, status, and roles. Social factors are highly influential on the purchase decisions of consumers.

Question 8

How can companies alter customer behaviour?

Accepted Answer

Down below are five basic strategies to change the buying behaviours of customers:-

Identify the expectations of consumers
Engage prospects
Evaluate metrics and processes
Mobilise leaders
Look to the future

Question 9

How can a consumer’s attitude change?

Accepted Answer

Consumer attitudes can change based on the change of ideas as well as marketing strategies.

Question 10

How do customers make purchase decisions?

Accepted Answer

The five basic steps of consumers' purchase decision are recognition of problems, a search of information, evaluation of alternatives, purchase decision, and evaluation post-purchase.

Question 11

What role does consumer behaviour play in marketing?

Accepted Answer

Thorough research in consumer behaviour aids marketers in discerning the wants and needs of consumers as well as the reasons behind choosing specific products over others. By conducting this, companies can analyse the needs of their target audience needs and expectations and work towards meeting them.

Question 12

What makes a customer loyal to a brand?

Accepted Answer

Customer loyalty can be attained only when they make a repeat purchase from a company over time. To ensure customer loyalty, make sure that your product or service has great value. Also, make sure that the customer experience stays seamless consistently.

Question 13

How do consumers impact the economy?

Accepted Answer

When a consumer spends more, it helps the economy expand and sustain it consistently. If there is a decline in consumer confidence, they lose confidence in financial prospects leading them to spend less money. This directly affects businesses when they see a significant decrease in sales.

Question 14

How does age influence consumer behaviour?

Accepted Answer

Age is an integral demographic factor affecting consumer behaviour. When a person grows with age, there is a change in their needs leading to a change in the patterns of their buying decisions. Health needs also change with age, and so do several other needs.

Question 15

How does convenience influence consumer behaviour?

Accepted Answer

A significant percentage of consumers are more likely to be influenced by price and quality. However, according to statistics, around 52% of consumers are more likely to be influenced by convenience.

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