Why is consumer behavior important for a business firm?

Simply
put, consumer behavior is important because customers are the heart of any business. Without
customers, any business would be forced to close its doors immediately. Understanding consumer
behavior is therefore a cornerstone of any successful business, because without understanding
who your customers are, you will not know what they want or how best to speak to them.

To provide a basic definition of consumer behavior, this field of study looks at what
makes a consumer make the decisions that he or she does. It looks at the motivations and the
psychology behind each factor. Without knowing...

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