Final answer:
Buyer behaviour research should consider monopolistic competition and the impacts of globalization and technology on the market. This includes how positive economic profits can invite new competitors and how technology has expanded the competitive environment globally.
Step-by-step explanation:
Buyer behaviour research must focus on the competitive environment to understand how competition impacts the choices consumers make. In a market structure characterized by monopolistic competition, firms are highly responsive to each other's actions. For example, if one firm earns positive economic profits, others may enter the market, offering new features to attract customers, such as a gas station adding coffee sales or a carwash. This potential for market entry ensures that sellers must innovate and maintain high quality to retain customers.
Moreover, technological advancements and globalization have redefined market boundaries, increasing competition for local businesses and expanding the reach of consumers. The internet and business-to-business websites enable transactions on a global scale, influencing buyer behaviour and requiring sellers to adapt to a broader competitive landscape.