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ConsumerBehaviorandMarketingPaper.docx Consumer Behavior and Marketing Paper Universit

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ConsumerBehaviorandMarketingPaper.docx Consumer Behavior and Marketing Paper University of Phoenix Consumer Behavior MKT / 554 How is consumer behavior defined? Consumer behavior is the psychol... ogy of business marketing and is used through businesses to determine why consumers would seek one product alternative over others. It helps to determine the way consumers choose to purchase and use a product and then dispose of it over another. Normally, marketing strategies are based on explicit and implicit beliefs about the behaviors of consumers. This information could prove to be invaluable in the creation of marketing strategies and a sure competitive advantage over a business™s main competition. We have all seen or eaten at a McDonald™s restaurant over the course of our lives, and we are all familiar with how the business became successful. In 1948, the McDonald brothers closed their famous BBQ stand in San Bernardino, CA and simplified the menu long with streamlining the cooking process to be more like the Ford assembly, but for fast food. Their business model became the norm, as owners of other restaurants borrowed the brother™s ideas and made their own successes from it. Then in 1954 Ray Kroc swooped in and became their lead franchiser and eventually bought the business from the brothers to take it to levels never imagined for wanted by the brothers. How did McDonald™s become so successful? By offering up very diverse food products across the corporate owned stores and those franchised around the world. T. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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