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Q. Illustrate Scope of Consumer behaviour ?
Scope of consumer behaviour is extremely wide due to following reasons:
>>Ever rising intensifying competition.
>>Additional aggressive competitors emerging with greater frequency.
>>Changes foundation of competition.
>>Geographic basis of competition are becoming wider.
>>Niche assaults are becoming frequent.
>>Rapidity of innovation is rapid.
>>Price competition becoming further aggressive
>>Product differentiation is declining.
As a principal the marketing concept engages understanding the needs of the consumers and translating these needs into products or services to convince these needs. The essential objective in marketing is to achieve the goal of profit making through customer satisfaction. To do this an organization must understand the consumer and be as close to them as possible.
What is ERD? Entity Relationship Diagram is the graphical representation of the object relationship pair. It is mostly used in database applications.
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