Lesson 1 Comments

Studying Consumer Behavior Makes Building Consumer Value Possible

Clearly, customer value plays a large role in a brand’s success. However, we cannot simply assume we know who our customers are and what value they expect from our brands. Thus, to build customer value and subsequent brand success, marketers study consumer behavior. In this lesson, we discussed value from a variety of perspectives: how customers perceive value, why brands work to build value, and how customer insights are used to create value for both customers and brands.

In the lessons to come, we will discuss why marketers look to understand internal, external, and situation influences of consumer behavior, as well as customer decision-making processes.