Consumer Behaviour Study in the Brand Management System

Viktoriia Pidhurska and Yaroslava Larina
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Viktoriia Pidhurska: Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine
Yaroslava Larina: Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine

Oblik i finansi, 2023, issue 2, 140-146

Abstract: The issues of how a human thinks and what influences his decisions, the ratio of rational and irrational in consumer behaviour, and how the decision-making process works while purchasing goods are phenomena of human nature that are being researched and explained by modern behaviourists. In the conditions of active globalization, the external environment's instability, and the rapid development of digital technologies, effective business functioning is impossible without the regular study of consumer behaviour. The purpose of the article is the creation a methodology for studying consumer behaviour to make the appropriate business decisions in the brand management system of a modern enterprise. The study of scientific research in behavioural economics and neuromarketing made it possible to create the methodology with a list of methods that should be applied at each stage of studying consumer behaviour. This methodology is a practical and effective tool for modern enterprises that aim to create new brands, review their brand management strategies, expand their portfolio, etc. This study also presents relevant advice (regarding the study of consumer behaviour) for brand managers and marketers who are directly involved in forming and implementing the company's brand management strategy. It has been established that no tool inside a person allows one to assess the absolute value of one thing. Hence, consumers concentrate on the advantages of one option over another and evaluate the rational (conscious) and emotional (unconscious) levels of the advantages of purchasing. In such conditions, the formation of business decisions in the company's brand management system should be based on the insights obtained from the relevant consumer behaviour study.

Keywords: brand management; brand management system; consumer; consumer behaviour; neuromarketing; behavioural economics (search for similar items in EconPapers)
JEL-codes: D03 M31 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2023:i:2:p:140-146

DOI: 10.33146/2307-9878-2023-2(100)-140-146

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