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The micro-environment consists of customers, partners, and competitors. [3] The most important aspect of micro-environment is the customer market. [5] There are different types of customer markets include consumer markets, business markets, government markets, globalization international markets, and reseller markets.
Consumer awareness refers to the awareness of the consumption of goods bought by consumers in the long-term shopping environment and purchasing activities. [ 56 ] The change of life concept is the subjective factor of the change of consumer awareness.
Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers.
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China is the world's fastest-growing consumer market. [28] [30] According to biologist Paul R. Ehrlich, "If everyone consumed resources at the US level, you will need another four or five Earths." [31] With the development of the economy, consumers' awareness of protecting their rights and interests is growing, and consumer demand is growing.
Market research is a way that producers and the marketplace study the consumer and gather information about the consumers' needs. There are two major types of market research: primary research, which is sub-divided into quantitative and qualitative research, and secondary research .
In marketing and consumer behaviour, brand loyalty describes a consumer's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the market environment.
Consumer-to-consumer (C2C), or customer-to-customer, represents a market environment where one customer purchases goods from another customer using a third-party business or platform to facilitate the transaction. In this case, the third-party platform typically earns their money by charging transaction or listing fees.