Understanding Consumer Behavior
1. Read the article: “Exploring Factors That Influence Consumer Loyalty to Automobile Dealerships in New York.” ( https://www.researchgate.net/publication/316320629_Exploring_Factors_That_Influence_Consumer_Loyalty_to_Automobile_Dealerships_in_New_York ) and then perform the following: Provide some customer retention strategies which benefits organizations What actions are involved before the final decision to buy or consume a product and services? 2. Using what you have learned in Units 1 & 2, consider your own behavior as a buyer. Think about the kinds of things that move you to make purchases, large and small and then answer the following: Before making a major purchase, what types of data do you gather? What types of data are most compelling to you? Do you buy impulsively? If so, what type of products do you buy impulsively? Are there ways in which you want to improve your own consumer behavior? References: 1. Principles of marketing. (2010). The University of Minnesota Publishing. https://open.lib.umn.edu/principlesmarketing/ Chapter 3 – Consumer Behavior: How People Make Buying Decisions. In this chapter, students will learn about the factors that influence consumer behaviors. Students will explore the purchasing decision process including the five-stage model 2. Akaeze, C., & Akaeze, N. (2017). Exploring factors that influence consumer loyalty to automobile dealerships in New York. Journal of Business Theory and Practice 5(6), 35–47. https://www.researchgate.net/publication/316320629_Exploring_Factors_That_Influence_Consumer_Loyalty_to_Automobile_Dealerships_in_New_York 3. Courtright, M. (2019, July 25). The “Why” behind the buy: Integrating consumer behavior into your marketing strategy. American Marketing Association. https://www.ama.org/2019/05/20/the-why-behind-the-buy-integrating-consumer-behavior-into-your-marketing-strategy/.