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Customer Behaviour
Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the Purchasing, purchase, Utility, use and disposal of goods and services. It encompasses how the consumer's emotions, Attitude (psychology), attitudes, and Preference (economics), preferences affect Buyer decision process, buying behaviour, and how external cues—such as visual prompts, auditory signals, or tactile (haptic) feedback—can shape those responses. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an Interdisciplinarity, interdisciplinary social science that blends elements from psychology, sociology, Social Anthropology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics (especially behavioural economics). The study of consumer behaviour formally investigates individual qualities such as demographics, personality lifestyles, and behavioural variables (like usage rate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethnology
Ethnology (from the , meaning 'nation') is an academic field and discipline that compares and analyzes the characteristics of different peoples and the relationships between them (compare cultural, social, or sociocultural anthropology). Scientific discipline Compared to ethnography, the study of single groups through direct contact with the culture, ethnology takes the research that ethnographers have compiled and then compares and contrasts different cultures. The term ''ethnologia'' (''ethnology'') is credited to Adam Franz Kollár (1718–1783) who used and defined it in his ''Historiae ivrisqve pvblici Regni Vngariae amoenitates'' published in Vienna in 1783. as: "the science of nations and peoples, or, that study of learned men in which they inquire into the origins, languages, customs, and institutions of various nations, and finally into the fatherland and ancient seats, in order to be able better to judge the nations and peoples in their own times." Kollár's int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Segmentation
In marketing, market segmentation or customer segmentation is the process of dividing a consumer or business market into meaningful sub-groups of current or potential customers (or consumers) known as ''segments''. Its purpose is to identify profitable and growing segments that a company can target with distinct marketing strategies. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar demographic profiles. The overall aim of segmentation is to identify ''high-yield segments'' – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention (i.e. become target markets). Many different ways to segment a market have been identified. Business-to-business (B2B) sellers might segment the market into different types of businesses or countries, while business-to-consumer (B2C) seller ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a strategic process that organizations use to manage, analyze, and improve their interactions with customers. By leveraging data-driven insights, CRM helps businesses optimize communication, enhance customer satisfaction, and drive sustainable growth. CRM systems compile data from a range of different communication channels, including a company's website, telephone (which many services come with a softphone), email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to better cater to their needs, thus retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Predictability
Predictability is the degree to which a correct prediction or forecast of a system's state can be made, either qualitatively or quantitatively. Predictability and causality Causal determinism has a strong relationship with predictability. Perfect predictability implies strict determinism, but lack of predictability does not necessarily imply lack of determinism. Limitations on predictability could be caused by factors such as a lack of information or excessive complexity. In experimental physics, there are always observational errors determining variables such as positions and velocities. So perfect prediction is ''practically'' impossible. Moreover, in modern quantum mechanics, Werner Heisenberg's indeterminacy principle puts limits on the accuracy with which such quantities can be known. So such perfect predictability is also ''theoretically'' impossible. Laplace's demon Laplace's demon is a supreme intelligence who could completely predict the one possible future given ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opinion Leadership
Opinion leadership is leadership by an active media user who interprets the meaning of media messages or content for lower-end media users. Typically opinion leaders are held in high esteem by those who accept their opinions. Opinion leadership comes from the theory of two-step flow of communication propounded by Paul Lazarsfeld and Elihu Katz. Significant developers of the opinion leader concept have been Robert K. Merton, C. Wright Mills and Bernard Berelson. This theory is one of several models that try to explain the diffusion of innovations, ideas, or commercial products. Opinion leaders play an important role in information flow, because people tend to seek advice from others in the social environment. Information from the mass media does not directly flow to the target audiences, but through a mediation process, in which influential people digest the information and spread it to the public. Opinion leaders have certain characteristics that make them influential in the decis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Influencer Marketing
Influencer marketing (also known as influence marketing) is a form of social media marketing involving endorsements and product placement from influencers, individuals and organizations who have a purported expert level of knowledge or social influence in their field. Influencers are people (or something) with the power to affect the buying habits or quantifiable actions of others by uploading some form of original—often sponsored—content to social media platforms like Instagram, YouTube, Snapchat, TikTok or other online channels. Influencer marketing is when a brand enrolls influencers who have an established credibility and audience on social media platforms to discuss or mention the brand in a social media post. Influencer content may be framed as testimonial advertising, according to the Federal Trade Commission in the United States. The FTC started enforcing this on a large scale in 2016, sending letters to several companies and influencers who had failed to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption refers to the use of resources to fulfill present needs and desires. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economics, mainstream economists, only the final purchase of newly produced Good (economics), goods and Service (economics), services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g., the selection, adoption, use, disposal and recycling of goods and services). E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Want
The idea of want can be examined from many perspectives. In secular societies want might be considered similar to the emotion desire, which can be studied scientifically through the disciplines of psychology or sociology. Alternatively want can be studied in a non-secular, spiritual, moralistic or religious way, particularly by Buddhism but also Christianity, Islam and Judaism. In economics, a want is something that is desired. It is said that every person has unlimited wants, but limited resources (economics is based on the assumption that only limited resources are available to us). Thus, people cannot have everything they want and must look for the most affordable alternatives. Wants are often distinguished from needs. A need is something that is necessary for survival (such as food and shelter), whereas a want is simply something that a person would like to have. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Referral Marketing
Referral marketing is a word-of-mouth initiative designed by a company to incentivize existing customers to introduce their family, friends, and contacts to become new customers. Unlike pure word-of-mouth strategies—where customers independently share information without company involvement or ability to track—referral marketing actively incentivizes and rewards existing customers for referring new ones, allowing the company to influence, track, and measure the referral process. The process is distinct from multi-level marketing, in that there is no incentive for the original existing customer to drive or influence the subsequent referrals of the new customer – only the conversion of the initial, primary customer is rewarded. Overview Referral marketing is a tool used by businesses and corporations across various industries to grow and build their customer bases. In the past, referral marketing was purely focused on spreading information through verbal interaction with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Loyalty
In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment. It's also demonstrated with behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. In a business-to-business context, the term source loyalty is also used.Wind, Y.Industrial Source Loyalty ''Journal of Marketing Research'', Volume 7, No. 4 (November 1970), pp. 450-457, accessed on 22 January 2025 Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personality
Personality is any person's collection of interrelated behavioral, cognitive, and emotional patterns that comprise a person’s unique adjustment to life. These interrelated patterns are relatively stable, but can change over long time periods, driven by experiences and maturational processes, especially the adoption of social roles as worker or parent. Personality differences are the strongest predictors of virtually all key life outcomes, from academic and work and relationship success and satisfaction to mental and somatic health and well-being and longevity. Although there is no consensus definition of personality, most theories focus on motivation and psychological interactions with one's environment. Trait-based personality theories, such as those defined by Raymond Cattell, define personality as traits that predict an individual's behavior. On the other hand, more behaviorally-based approaches define personality through learning and habits. Nevertheless, most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
