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GDB No.1 Dated: Apr 24, 14
GRADED DISCUSSION BOARD
CONSUMER BEHAVIOUR (MKT530)
This is to inform that Graded Discussion Board (GDB) No. 1 will be opened on April 25, 2014 for discussion and last date for posting your discussion will be April 28, 2014.
This Graded Discussion Board will cover first 5 lessons.
Total Marks 5
Starting Date Friday, April 25, 2014
Closing Date Monday, April 28, 2014
Question/Description Consumer Behaviour (Mkt530) Spring 2014
Due Date: 28 April, 2014
Marks: 5 Marks
TOPIC: Consumer behaviour and Research
Learning Objectives: The basic objective of this assignment is making students familiar with the concept of consumer behaviour and its application.
After attempting this assignment, the students will be able:
• To understand the significance of consumer behaviour for company’s perspective.
• To comprehend the practical implications of consumer behaviour in real life scenario.
Understanding consumer behaviour is vital for effective marketing, it helps managers to identify appropriate people to target and design, and communicate attractive offerings. Each aspect of the marketing plan can only be beneficial only by under-standing of the customer and today the rapid change in consumer markets this is only going to become more important for companies to update themselves.
In this fast changing era the power in the market place is shifting from seller to customer’s market, and latter building more choices for consumers in shape of variety by different competitors. In Earlier days of business consumer market power belongs to seller, which things they brought in market consumer had to purchase, as they were left with no choice. Before this shift companies don’t didn’t go for investigating the consumer behaviour. Recently organizations are investing huge amount of their marketing budget on very pertinent aspect of their success “customers”. They know their survival only depends on complete understanding of customer preferences and giving more value to them than provided by their competitors. Modern organizations when ask such questions like, who are our customers, how do we reach them, how do we attract and satisfy them, means they are trying to build sophisticated understanding of their customers. Companies are continuously trying to find out the ideas to satisfy their customers as this thing is perceives to be very beneficial for companies and customers as well.
Keeping in view the above scenario, why international companies are focusing more on consumer research and development while in Pakistani context this area is neglected? Discuss any five reasons with solid justification.
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