Consumer behavior concepts and theories have the most importance to marketers and salespersons. I'm the big cheese founder of Travel Gift Card, mytab. Knowing how consumers are influenced by their environment, their information-processing abilities and their perception of a product can help companies to more effectively reach consumers. Consumers, while buying a product or service, go through various steps. Consumer behavior also changes based on the type of product. Consumers Role of Perception in Consumer Behaviour Role of Perception in Consumer Behaviour By Debbie Donner, eHow Contributor Print this article Role of Perception in Consumer Behaviour thumbnail Subliminal subconscious advertising may affect the role of perception in consumer behaviour.
One cannot thrust a product on a consumer. More Relevant Marketing Programme : Marketing programme, consisting of product, price, promotion, and distribution decisions, can be prepared more objectively. To make the right marketing choices, you need to understand where your customers prefer to purchase from. He would first fulfill his basic physiological needs like food, air, water etc. What method the company adopts will depend upon the marketing strategy. Remember not just the income but even other factors describe social class of a group of consumers.
It is a conjunctive choice. Marketers market their product keeping in mind the emotions and reasoning ability of the target audience, present their keeping in mind what the investor actually wants from them, and even products are built according to what the customer is willing to buy in the market. Motivation The theories that decide on how a consumer comes to decide what he needs are discussed below. This is insane, get your act together, now! The make-up of the buying public has changed dramatically in the past decade or two. And they mostly answer their own responses. A motive is an urge for which an individual seeks satisfaction. In this process the consumer starts with recognizing the need of the product, and then finds a way or a medium of solving these needs, makes purchase decisions like planning whether he should buy or not buy a certain product, and then he confirms the information, jots down a plan and then implements the.
Canned juices are a hit among middle and higher income group where individuals are really conscious about their health and fitness. Hence this stage does affect consumer behaviour. Recommended Articles Here are some articles that will help you to get more detail about the Business Managers so just go through the link. Furthermore, the paper identifies the trilogy of consumer attitude, including samples of their measurement scales; and how attitudes connect to the behaviors of consumers, but notes that the companies would have difficulty influencing the purchasing behaviors of their consumers directly. The programme can be more relevant if it is based on the study of consumer behaviour.
This is similar to consumer behavior. . A summary of the major points will be highlighted about the importance and usefulness of a study of consumer behavior in the marketing activity of any organization, which imposes the need to focus on activities that will lead to it, and one of the most important activities is the marketing research. Cision Acquires TrendKite The Funnel Reports Top News Story Public Relations software company, Cision Ltd. Where Do They Look To For Their Information? Where too, consumer behaviour study is very helpful in finding answers too many preplexing questions.
Consumer behavior — source via Images purchased under license from. Thus, understanding consumer behavior is a basis for performance evaluation of the firm. To understand customer behavior, marketing experts usually examine the buying decision processes, particularly factors that trigger customers to purchase a product. But what exactly is consumer behaviour and how does it work? Knowledge of consumer differentiation is a key to fit marking offers with different groups of buyers. Practice with hands on, essential training in Google Analytics How to study consumer behaviour? Consumer behaviour assumes: Take care of consumer needs, the consumers, in return, will take care of your needs. If the of a consumer is not good or stable it will affect his purchase power, in fact if the consumers or the economy of a nation is suffering a loss it defiantly affects the consumers purchase or spending decisions. By understanding how consumers decide on a product it is possible for marketers to fill in the gap and identify which product is needed and which products are obsolete in the market.
The Importance of Consumer Behavior to Marketers Abstract In this report, we are going to discus the importance of consumer behavior study, knowledge and understanding to marketers, and how it will have a positive impact on the organization growth and revenue. Prestige is yet another intangible need. Consumer psychology is based on his knowledge, attitude, intention and motive. Some of the factors that may influence consumer purchase decisions are the cultural influences, social influences, personal factors and psychological factors. Market your products with this single lethal weapon. Measure the impact of its strategy: The study consumer behavior allows a firm of measure the impacts of a strategy. School of Post Graduate Studies, University of Port Harcourt, Port Harcourt, Nigeria.
You want to dive deep into the world of finance and management? Economic Determinants are personal income individuals purchasing power , family income total purchasing power of the family , the future income expectations expected increase or decrease in availability of disposable income , availability of liquid asset asset, which can be converted to cash , consumer market credit if market conditions are good credit easily available and social class effluent class, upper-middle class, middle class, etc. However, optimization is an ongoing process that looks at omni-channel behavior and preferences. Thus, marketers have to focus how they portray their product and what psychological effect it has on consumers. Although each individual may behave differently and may have different reasons for doing so, there are trends in consumer behavior that companies can look for. For instance, a customer may always prefer to buy premium brands of clothing, watches and other items etc.