Consumer behaviour refers to the actions of consumers in the market place and the underlying motives for those actions. Marketers expect that by understanding what causes consumers to buy particular goods and services they will be able to determine which products are needed in the market place, which is obsolete, and how best to present the goods to the consumers.
Marketing Concept is the philosophy that an organization should analyze the needs of their consumers and then make decisions to satisfy those needs, better than the competition. There are five different marketing concepts: Production, Product, Selling, Marketing, Social Marketing Concept.
Market Segmentation is the sub-dividing of a market into homogeneous subsets of customers, where any subset may conceivably be selected on a market target to be reached with a distinct marketing mix. Types of market segmentation are geographic, demographic, psychographic and behavioural segmentation.