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Why You Need to Know About Consumer Behaviour
Especially if you’re a budding Entrepreneur
You might have clicked through to this article with some idea of what consumer behaviour is, or you may have no idea what it is, and you’re just curious.
Either way, I’m here to tell you a bit more about it and of course, why you should consider some further research on the subject. Especially if you’re an entrepreneur, just getting into marketing, or have a general interest in it.
I first came across the concept of consumer behaviour while studying for my master’s degree in marketing at university last year. An ‘equation’ put together by Zubin Sethna and Jim Blythe, which forms my preferred definition of it is as follows:
Cognition (thought processes), Affect (emotion), Conation (intended behaviour) + Personal and Environmental Factors = Consumer Behaviour
That might be a little too academic, but in layman’s terms, consumer behaviour is about how and why we decide to exchange stuff in our life. Be that either a product or a service.
The good part of that is most people already have an innate idea, if they think about it, of the concept. Though what most people don’t consider, is what influences consumer behaviour, as a lot of the time, it’s not all that obvious.
