Three Factors That Affect Consumer Behavior
Consumer 's behavior have been the major dilemma for the science of marketing since its discovery, it exceeds understanding consumer behavior is a vital aspect of marketing.
Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company. It is critical to understand consumer behavior to know how potential customers will respond to a new product or service. It also helps companies identify opportunities that are not currently met. Thus American brands spend millions of Dollars annually to reach new discoveries in the field of consumer behavior, in order to achieve their goals of being international market leaders, and stabilize their shares and positions regardless the various changes that hit the market.
To fully understand how consumer behavior affects marketing, it is vital to understand the three factors that affect consumer behavior: psychological, personal, and social.
Nike and McDonald 's are two major American companies, which lead the market in their business. These huge market players achieve billions of Dollars as annual income, due to their international operations, and they both realize carefully the impact of consumer behavior practiced against their consumed goods, thus they push large amounts to detect, analyze and affect their potential consumer behavior, in order to improve their business across the world.
Nike
Background
According to Forbes, Nike is the world’s
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