Why is it essential to understand consumer behaviour? Explain the factors that influence the consumer behaviour in retailing with examples.

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Understanding consumer behavior is crucial for retailers because it helps them design effective marketing strategies, improve customer satisfaction, and drive sales. Consumer behavior refers to the actions and decisions individuals make when purchasing products or services. It encompasses everything from the initial need recognition to the post-purchase evaluation. In the competitive world of retail, retailers who can accurately predict and respond to consumer behavior are more likely to succeed, as they can better meet consumer expectations and create a loyal customer base.

Several factors influence consumer behavior in retailing. These factors are broadly categorized into psychological, social, cultural, personal, and situational influences. 

Psychological Factors: 
These factors include the internal processes that influence consumer decision-making. Perception, motivation, learning, and attitude are some of the key psychological factors that drive consumer behavior. ____________ ___ ______ ____________ __ _______ _____ _________ ____.
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Degree : BACHELOR DEGREE PROGRAMMES
Course Name : Bachelor of Business Administration in Retailing
Course Code : BBARIL
Subject Name : Overview of Retailing
Subject Code : BRL 101
Year : 2024 2025