Consumer Behavioural Response

The service industry is rapidly growing and dominating the global economy. For example, services account for about two-thirds of the global economic output, and, trade in services accounts for one-fifth of world trade while exports in commercial services are growing faster than exports in merchandise. This rapid growth of service industry is, however, not limited to the developed economies; developing countries are equally experiencing a similar trend. Developing economies in Asia, Latin America and Africa also have rapidly growing service sectors that significantly contribute to the size of their respective GDPs. Given this major development, getting knowledge regarding consumer behaviour will go a long way in ensuring effective marketing policies, which eventually, will facilitate a positive consumer attitude towards the service organisations. This book therefore, provides an insight into how the consumers’ evaluation of service is formed. It also guides the marketing organizations to understand consumers’ wants and needs in order to deliver services that will match or exceed these wants or needs.