Importance of understanding consumer behaviour. Importance of Studying Consumer Behaviour 2019-01-27

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The importance of studying consumer behavior

importance of understanding consumer behaviour

In general they reach moderate to better income families with active lifestyles and a multitude of hobbies. Consumer behavior concepts and theories have the most importance to marketers and salespersons. School of Post Graduate Studies, University of Port Harcourt, Port Harcourt, Nigeria. Here, the manufacturer addresses the need for a clean home while also fulfilling a want by including the pleasing scent that further makes the home comfortable for the consumer. These needs could be biological or physical, for security, love and affection, to get esteem and prestige, for self-fulfillment, and a hundred other reasons. Adjusting Marketing Programme over Time : Consumer behaviour studies the consumer response pattern on a continuous basis.

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Role of Consumer Behaviour in Marketing

importance of understanding consumer behaviour

It is really important for marketers to understand what prompts a consumer to purchase a particular product and what stops him from buying. The success of any business is based on understanding the consumer and providing the kind of products that the consumer wants. Moreover, every individual acts based on different factors. It also indicates if the organisation has been successful in fulfilling their wants and needs and their impact on the society. They are likely to contrast and compare similar products, ahead of taking any decision.

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Role of Consumer Behaviour in Marketing

importance of understanding consumer behaviour

And if you can answer that question, then you can better market your products. Suppose you were building a dam and could not accurately tell what the effects of billions of tons of water constantly pressing and churning against the dam would be, the dam would likely co … llapse. Considering such as age, gender, culture, and location will go a long way toward making it possible to understand why consumers make certain choices when selecting goods and services for purchase. How would you set your budget? To define the scope of a subject it is important to set parameters or a framework. A marketer sells what the consumer wants. Understanding their behaviour and buying pattern is important in ultimate survival of companies in the market place.

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Understand The Customer’s Buying Behaviour

importance of understanding consumer behaviour

There are several stages a consumer goes through before he finally picks up things available in the market. The study of Consumer behavior plays an importance role to the marketers which need to study in how individuals, groups and organizations select, buy, use and dispose of goods, services, idea or experiences to satisfy their needs and wants. 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. If the brand offers a range of products and services, it needs to be determined which of these are most popular and how regularly customers purchase these. When marketers can understand the decision-making process of their intended audiences, they can create the type of campaigns that will compel consumers to purchase their brand. For the rest of us, there needs to be a play element, or we can't do it, 46% of adults have a P preference.


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Importance of consumer behavior in a marketing strategy

importance of understanding consumer behaviour

It is easier than ever to collect data, which means there is an abundance of it. Understanding preferences and behavior, gathering intelligence from a variety of sources and — most of all — continuously acting upon them is what increases revenue and loyalty. Consumer habits and behavior can help you create a better layout for your retail space as well. It can happen in systematic ways, ad hoc but most certainly also in the context of each strategic project you implement that touches the customer: always involve him! Thus, the extent of consumer understanding determines the effectiveness of marketing mechanism. Suppose you need a new phone: How would you go about satisfying this need? For example the marketers are planning to launch a non-halal restaurant in a new shopping complex.

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Why Consumer Behavior Is So Important in Marketing

importance of understanding consumer behaviour

Novice, a first time buyer, new to or inexperienced in a field Is this an Expert? We' … re also easily bored, and tend to cycle through new activities on a regular basis. Consumer behavior is the study of individuals and organizations and how they select and use products and services. Watch as your customers stand before a selection of any product. That is why many professionals rely on big data. Customer — Customer is the person, who actually purchases the product. A recent study disclosed that an average shopper takes less than 20 minutes for purchasing groceries and covers only 23% of the store area, giving managers very little time for influencing customers.

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What is the importance of understanding consumer behavior

importance of understanding consumer behaviour

In this segment, individuals would be more interested in buying fresh fruits, vegetables, pulses which are necessary for their survival rather than spending on health supplements. It is important for marketers to study consumer behaviour. Every day, consumers across the globe make purchasing decisions. Information is generally collected through surveys, questionnaires, feedback forms, interviews etc. What do people want you to know? Understanding Consumer Behavior Ensures Success in the Market Place A detailed investigation and analysis of consumers behavior helps marketers to be aware of the different activities of the consumer and the ways they acquire, use up and disposed the goods and services provided. Secondary Research - Secondary Research often refers to relying on information which has been collected by others at some point of time. Impact of promotions on consumer behavior Such advertisements have a mass impact as consumers change the way they purchase products, the politicians they root for in polls, their medicinal options, the toys they gift their children, etc.

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Consumer behaviour Introduction Notes

importance of understanding consumer behaviour

In the same way, the company, due to continuous study of consumer behaviour and attempts to meet changing expectations of the buyers, can retain its consumers for a long period. A typical market is characterized by the presence of many different kinds of brands and consumers have to make their own judgments about the properties of these brands before making a choice. Although it is complicated, the study of consumer behavior is vital to marketing. Or do they go with the product in the bright, shiny packaging? In addition, realizing that consumers may behave differently depending on time of the day it is, I visited the store twice, once on a Thursday evening at 7 pm and the other on a Sunday at 2 pm. In the digital age, there are an increasing number of customers purchasing online through company websites and 3 rd party seller websites, via mobile apps or even through social media. Furthermore, there is a difference between consumer behaviour and buying behaviour. Individuals should be familiar with not only the benefits but also the side effects of the products.


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Consumer Behaviour

importance of understanding consumer behaviour

Visit us: First of all it is defined as the area of research within the field of Marketing that focuses on how consumers acquire, use and dispose of goods, services, time, and ideas. This factor also includes social class, income, and education level. Do not hide anything from them. An aesthetically inclined customer will be drawn to items that forge a symmetry, beauty, and harmony. Target aims for high-end buyers, in part because the middle class is shrinking. Consumer — A consumer is a person who evaluates, uses and disposes a good or service to satisfy a need.

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Consumer Behaviour

importance of understanding consumer behaviour

Modern marketing practice is almost impossible without the study of consumer behaviour. Most of problems can be reasonably solved by the study of consumer behaviour. These are just some decisions consumers face on a regular basis. The importance of consumer behavior is also evident when it comes to anticipating consumer wants and needs. Marketers need to considered about the factors that affecting the consumer buying behavior before starting a business.

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