Flashcards in Customers Deck (9)
What does marketing aim to do?
raise customer awareness of their products
What are product-led businesses?
where businesses produce products that they believe customers will want and try to convince them to buy them
What are market-led businesses?
businesses that develop products based on customers wants and carry out high levels of market research
What is consumer behaviour?
the thoughts consumers have and the actions they take when purchasing products
What are the types of consumer behaviour?
impulse buying, limited decision-making, routine purchases and extensive decision-making
What is impulse buying?
where the customer doesn't plan to buy that item but have been inspired to purchase it by some reason (on offer)
What is limited-decision making?
where the consumer researches the product before buying it
What is extensive decision-making?
where the consumer spends a lot of time researching&thinking about buying item before purchasing- (houses)