Customer Behavior and Loyalty, business and finance homework help

You learned about consumer behavior in this module. An organization cannot persuade a customer to purchase a product or service without understanding the basics of “how people buy.”

In a 3-page paper, address these points:

• Describe why businesses study consumer behavior.
• Using one past major purchase you have been involved in (for example, an appliance, a house or car, or your education), describe the process using the five stages that people go through in the buying process.
• Explain how the degree of involvement impacts the purchase process decision. Include what your degree of involvement was for the product in the previous step.

When a customer continually returns to a given company because of satisfaction, we call that customer loyalty. In your paper, also include the following:

• What does customer loyalty mean to you?
• Compare and contrast customer loyalty and customer satisfaction.
• Think back to your own personal experiences with customer loyalty. Explain one situation that really stands out. What makes you loyal to that company, product, service, etc.?