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In this era of competition, understanding the consumer is a necessity for marketers. Consumer needs and preferences are continuously changing, given the changes in factors like demographics and lifestyles. These changes can become great business opportunities for alert marketers and threats for marketers who fail to adapt. |
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Consumer Behavior helps students understand the internal variables like motivation, personality, perception, learning, and attitude, and external variables like reference groups, family, social class, and, culture, and their influence on consumer decision-making process. It also discusses the consumers' acceptance of innovation, and their purchase and post-purchase behavior. The impact of marketing communication on consumers, and the need for its regulation have also been discussed in the book.
- Steve Ballmer, CEO, Microsoft Corporation.