consumer-behavior

Vocabulary Word

Definition

'Consumer-behavior' is a field of study focusing on how individuals, groups, and organizations choose, use, and dispose of goods, services, or experiences. It helps understand what influences a customer's buying decisions.

Examples in Different Contexts

In product development, 'consumer behavior' insights are used to design products that meet the changing preferences and needs of consumers. A product developer might explain, 'Consumer behavior research guides our innovation process, ensuring our new products are aligned with customer expectations.'

Practice Scenarios

Tech

Scenario:

Analytics shows that users are not engaging with our app as predicted. We might need to re-evaluate our UI design.

Response:

Yes, we should track the change in consumer behavior and accordingly modify our software design to ensure user satisfaction.

Business

Scenario:

Our target market seems to be leaning towards sustainable products. Let's consider this in our upcoming product development.

Response:

Right, adjusting our product development to reflect this shift in consumer behavior will help position us favourably in the market.