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Consumer behavior as a subject deals with the study of nature, demands and expectations of the consumers. For a business to flourish, it is highly important for it to understand the nature of its customers and deliver products or services according to their behaviors. Not taking into consideration the consumer behavior earnestly can bring the downfall of any business.
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Marketing, as the name itself suggests, deals with the various marketing practices and a strategic management of the company’s essential resources as well as activities. One of the most important aspects of a market is research in which the information about the potential customers is gathered so as to improve marketing strategies keeping in mind consumers’ nature, needs and expectations on the basis of which potential customers can be recognized. This area of marketing is called marketing research.
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