Consumer behaviour is an important focus for marketers because:
A)marketing research is an inexpensive process.
B)companies use this knowledge to provide value to consumers.
C)customer value is a non-quantifiable statistic.
D)attracting new customers is easier than keeping old ones.

Question

Quizplus · Accepted Answer

Consumer behavior is important for marketers because it helps them understand the needs, preferences, and behaviors of their target audience. By gaining this knowledge, companies can tailor their marketing strategies and product offerings to provide value to consumers, ultimately leading to increased sales and customer loyalty. Marketing research can be expensive, but the insights gained from understanding consumer behavior can provide a significant return on investment. Additionally, attracting new customers can be more expensive than retaining existing ones, making it even more important for companies to understand and meet the needs of their current customer base.

Consumer Behaviour Is an Important Focus for Marketers Because