FM customer behaviour

Which of the following best describes the concept of "Need" in consumer behavior?

• A luxury item that enhances social status

• A requirement because it is essential or very important

• A consumer's desire to purchase a specific brand

• A comparison of product attributes

What is the first step in the Buying Decision Process?

• • Evaluation of alternatives

• Need recognition

• Information search

• Post-purchase behavior

Which of the following is an example of an external macro factor influencing consumer behavior?

• Age and income

• Motivation and perception

• Political stability and cultural influences

• Cultural trends and valuesFamily and social group

What is the primary difference between a "Want" and a "Need"?

• A want is a psychological factor, while a need is an economic factor

• A want is a need with a proper name, influenced by internal and external determinants

• A want is always more essential than a need

• A want is determined solely by age and lifestyle

Which of the following is NOT an example of an internal determinant of consumer behavior?

• Attitudes

• Personal factors like age and lifestyle

• Social class

• Perception

What is one of the key trends in consumer behavior highlighted in the document?

• Decreasing importance of sustainability

• Focus on health and wellness

• Consumers prefer fewer omnichannel experiences

• Declining use of data-driven insights