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CUSTOMERS
BEHAVIOUR AND HOW IT AFFECTS THE GROWTH OF A BUSINESS
Abstract
This study
focuses on customers’ behavior and how it affect the growth of a business (a
case study of Vivid Consuming pro, Afam Road Portharcourt). A proper research was carried out to find out
if customers’ behavior is influenced by lack of satisfaction in the services
rendered by the business, to ascertain the factors that influences the change
in customers’ behavior towards an organization, to analyze the ways customers’
behavior affects the growth of a business, and to find out the perception of
customers on the ways to maintain a positive customers’ behavior towards their
products.
The major
target of the study are customers between the age of 18 and 40, the researcher
conducted an interview with the customers and the responses were critically
analysed. After the analysis of the result, the conclusion obtained is that he
ability of a business to maintain customers’ retention influences the
productivity of the business.
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
The key to
thrive in any business is to offer customers with better solutions to their
problems, give them the due respect, connect with them on emotional level,
offer them with fair prices, and making it easy for customers to find what they
need, pay for it and move on without much delay
(Berry,
2001).
Customer behavior
study is based on consumer buying behavior, with the customer playing the three
distinct roles of user, payer and buyer. Research has shown that consumer
behavior is difficult to predict, even for experts in the field. Relationship
marketing is an influential asset for customer behavior analysis as it has a
keen interest in the re-discovery of the true meaning of marketing through the
re-affirmation of the importance of the customer or buyer (Peter C.
2003). A
greater importance is also placed on consumer retention, customer relationship
with management, and personalization. Social functions can be categorized into
social choice and welfare functions.
In present
scenario, the study of consumer behavior has become essential. Consumers are
the kings of markets. Without consumers no business organization can run. All
the activities of the business concerns end with consumers and consumer
satisfaction. Customer behavior study is based on consumer buying behavior,
with the customer playing the three distinct roles of user, payer and buyer.
Research has shown that consumer behavior is difficult to predict, even for
experts in the field. The study of Consumer Behavior is quite complex, because
of many variables involved and their tendency to interact with & influence
each other (Jobber
& Geoff,
2000). These variables are divided into three major sections that have been
identified as the most important general influences on Consumer Behavior.
Consumer behavior is the study of when, why, how, and where people do or do not
buy a product. It blends elements from psychology, sociology, and economics. It
attempts to understand the buyer decision making process, both individually and
in groups.
Buying
situation, personal influences, and social influences are the three major
factors identified as other key factors that influence consumers buying
behavior (Jobber & Geoff, 2000).
In today’s
competitive retail environment, the idea of retaining customers is a tough
task. The successful ones are those who are able to establish and maintain more
competitive advantages in their customers. Therefore, this study focuses on
customers’ behavior and how it affect the growth of a business (a case study of
Vivid Consuming pro, Afam Road Portharcourt).
1.2 STATEMENT OF THE PROBLEM
One of the
major challenges faced by most businesses is the ability to retain their
customers for a long period of time (Myers, 2009). The buying behavior of
customers towards a certain product is influenced by so many factors such as
cultural factors, societal factors, personal factors, etc.
In an
attempt to curb these problems retailing shops issue customer cards to
customers granting the customers with some benefits. If owning a card of a
company is enough to influence a customer to make all his purchases from that
particular shop or company, then how would such customer determine where to
make his purchases if he or she has two or more cards of different competitors?
In such instance, there is the need to find out which other factors come into
play to influence a customer in his buying decision (Ghauri & Gronhaug,
2002).
If
customers’ behaviour does not favor an organization, this influences the number
of customers that patronage the organization. Low level of customers’ patronage
results in a low level of income which eventually affects the growth and
productivity of the organization (Myers, 2009). These problems make it glaring
that there is a need to carry out a study on customers’ behavior and how it
affect the growth of a business.
1.3 OBJECTIVES OF THE STUDY
The general
objective is to examine customers’ behavior and how it affect the growth of a
business. The specific objectives are:
1. To find out if customers’ behavior is
influenced by lack of satisfaction in the services rendered by the business.
2. To ascertain the factors that influences
the change in customers’ behavior towards an organization.
3. To analyze the ways customers’ behavior affects
the growth of a business.
4. To find out the perception of customers
on the ways to maintain a positive customers’ behavior towards their products.
1.4 RESEARCH QUESTIONS
The research
questions related to this study include the following:
1. Is customers’ behavior influenced by lack
of satisfaction in the services rendered by the business?
2. What are the factors that influences the
change in customers’ behavior towards an organization?
3. What are the ways customers’ behavior
affects the growth of a business?
4. What is the perception of customers on
the ways to maintain a positive customers’ behavior towards their products?
1.5 SIGNIFICANCE OF THE STUDY
The findings
from this study will be relevant to business owners and student researchers.
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