The customer and the retail businessPresentation Transcript
Presented By-Ankur Chaturvedi
Introduction In retailing customers are the most important aspect of the business. If you are unable to define who your customers are, or what they are likely to buy, the business is unlikely to survive. Consumer behaviour is a complex area that draws many of its concepts and theories from general psychology and sociology. In this presentation we focus on the more fundamental of these models that show how customers minds work.
1- Focusing on the Customer Age Income Geographical Location Lifestyle
C- Perception Perception is the process of interpreting sensations and giving meaning to stimuli.
5- Modelling Consumer Behaviour It is very useful for retailers to understand how their customers minds work so they may provide them with the sorts of products they want. Decision Making:- It is a set of cognitive processes, which interprets stimuli and organises thought and ideas. Sometimes this process is so rapid we do not notice it happening.
Process Of Decision-Making:- Recognize Problem Search for alternatives Choice(Purchase Decision) Evaluation of alternatives (buy) Post Purchase Consumption and evaluation