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Consumer Behavior And Insight

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Added on  2020-12-28

Consumer Behavior And Insight

   Added on 2020-12-28

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CONSUMERSBEHAVIOUR ANDINSIGHT
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INTRODUCTIONConsumers refers to the individuals who purchases the products and services of anorganisation. Whereas consumer behaviour is the method for studying the these people who buysthe offerings of organisation. It is most important for the business to determine the behaviour oftheir customers so that the products and services can be provided accordingly for satisfying theirneeds and demands (Carlucci and et. al., 2015). Waitrose & partners is the taken firm in thisassessment which is a UK based firm providing food products to their customers. This report willcover explanation and models for the learning process of consumers decision taking processalong with the path for taking the decisions regarding the a specific product. Further levels ofconsumer decision-making and factors which can impact the decisions of customers will bediscussed in this report.Consumer decision-makingConsumer decision making is the process through which customers taken the decisionsfor purchasing offerings provided by an organisation. The process of decision making differsamong the different customers (Erevelles, Fukawa and Swayne, 2016). This decision makingprocess is based on the requirements and demand of the consumers for purchasing the productsbased on the benefits, alternatives etc. of the products and services.Models of consumer decision makingThere are several models which can be utilised by the customers based on theireconomical and emotional aspects. The models of consumer decision making are discussedbelow:Economic model: This model states that the customers are intelligent in taking theirsmart decisions due to having habit of analysing the products and services of a companybefore purchasing. However, this model is called as the unrealistic model as consumershas limited skills due to which they are not capable of taking smart decision every time.Passive model: This model states that the customers takes the decisions based on thepromotions and advertisement of the companies for purchasing the products. This modelis also called as unrealistic model because customers gather the required information of aproduct before buying and does not purchase based on the advertisements (Karimi,Papamichail and Holland, 2015).
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