Sunday, November 3, 2019
Marketing Consumer Behavior and Retail Marketing Strategy Essay
Marketing Consumer Behavior and Retail Marketing Strategy - Essay Example From this research, it is clear that consumer behavior mainly focuses on how an individual is making decisions about spending their time, money and effort on various products or services. It also includes what and why they are buying, place and time of buying, how often they buy the product and use how often use it and how they are evaluating it after purchasing the product or service and most important the effect of such evaluations on their future purchasing behavior. This study will help to understand the consumer behavior and the retail marketing strategy of the duty-free market in order to take decisions regarding the correct retail marketing strategy. Duty-free goods are found at ports, international airports, border towns, cruise ships, on-board international flights and in some other stores of downtown. These retail stores generally offer a wide range of products like alcohol and tobacco, fragrances, cosmetics, chocolates, sweets and luxury goods. From these duty free retailers, airports are earning higher profits. Many organizations have started to invest in the duty free market as it is a good opportunity for successful expansion of their business and it is mainly seen in the fashion industry.