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Importance Of Consumer Behaviour

Keywords: consumer behavior, buying behavior, buyer behaviour

Introduction

Understanding consumer behaviour is important for any business before launching something. If the organization didn't analyse how a customer will react to a particular product, the business will face loss. Consumer behavior is very complex because each consumer has different head and frame of mind towards purchase, usage and disposal of product (Solomon, 2009). Understanding the theories and concepts of consumer behavior helps to market the merchandise or services successfully. Moreover, learning consumer behaviour helps in many aspects. As there exists continuous change in the living requirements, tendency, fashion and change in technology; consumer's attitude towards the purchase of product varies (Kumar, 2004). Understanding these factors is very important because the marketing of product are essentially dependent on these factors. Thus, consumer behavior serves as a successful tool for marketers in meeting their sales targets.

This essay discusses the value to marketers of understanding the importance of, and making use of consumer behaviour principles and theories.

Consumer Behaviour

Consumer Behaviour or the customer Behaviour is referred to the behavior that is viewed by the individual while these are buying, consuming or disposing any particular product or services. These behaviours can be affected by multiple factors. Moreover, it also consists of search for a product, evaluation of product where the consumer evaluate different features, purchase and consumption of product. Later the post purchase behaviour of product is studied which shows the consumer satisfaction or dissatisfaction where it consists of removal of product (Solomon, 2009).

The customers while buying something goes through many steps. The analysis of consumer behavior helps to know how the buying decision is manufactured and how they look for a product. Furthermore, the understanding consumer behavior also helps marketers to learn the what, where, when, how and why of the intake of product intake (Kumar, 2004). These help marketers or organizations to know the real reason for the purchase of product by consumers and how it satisfies them. Among other factors, the basic needs like shelter and being hungry along with craving for mental fulfilment is likely consumer to buy a certain product or services.

Importance of Consumer Behaviour to business managers

The main goal behind marketing something is to fulfill demands and desires of the Consumers. Analysis of consumer behaviour helps to achieve this purpose. As individuals are the most crucial person for internet entrepreneur or sales person, therefore it is important for them to consider the likes and dislikes the consumers in order that they can provide them with the products and services accordingly (Solomon, 2009). The more careful analysis helps in more exact prediction about the behaviour of consumers of any product or services. The study of consumer behaviours helps business administrator, sales person and marketers in the following way.

  • To design the best possible product or service that totally satisfies consumer's needs and needs.
  • To decide where in fact the service or product would be produced available for easy access of consumers.
  • To decide the purchase price of which the consumers would prepare yourself to buy that service or product.
  • To find out the best method of advertising that will prove to be effective to appeal to customers to buy a product.
  • To realize why, when, how, what and other factors that affect buying decision of the consumers.

Importance of Consumer Behavior to Marketers

It is important for marketers to review consumer behaviour. It is important to allow them to know consumers as specific or groups opt for, purchase, consumer or dispose products and services and exactly how they promote their experience to fulfill their desires or needs (Solomon, 2009). This helps marketers to research and understand how consumers behave so that they can position their products to specific group of people or targeted individuals.

In regard to the marketer's view point, they suppose that the essential reason for marketing is to sell goods and services to more folks so that more profit could be made. This principle of earning profits is seriously applied by virtually all marketers. Before, the marketers were successful in achieving their goal. However, today, as the consumers are more aware of the utilization of product and other information of the merchandise, it is not easy to market or get customer to buy the product (Kumar, 2004). Thus, to be able to sell something or service or even to convince consumers to buy product, the marketers have to endure through proper research to earn them over.

The pursuing are some of the points reviewed that explains the value to marketers of understanding and making use of consumer behaviour ideas and ideas.

  1. To understand Buying Behaviour of consumers
  2. To create and maintain customers though online stores
  3. To Understand the factors influencing Consumer's buying Behaviour
  4. To understand the consumer's decision to dispose a product or services
  5. To increase the knowledge of sales person impact consumer to buy product
  6. To help marketers to deal of product and create centered marketing strategies

1. To understand Buying Behaviour of consumers

The study of consumer behavior helps marketers to recognize and forecast the purchase behaviour of the consumers while these are investing in a product. The analysis of consumer behavior helps the marketers not and then understand what consumer's purchase, but really helps to understand why they purchase it (Kumar, 2004). Additionally, other questions like how, where and when they purchase it are also solved. The intake and the reasons behind disposition of that particular product or services help marketers to be totally aware of the merchandise that is promoted. The consumer behavior studies also help marketers to understand the post purchase behaviour of the consumers. Thus, the marketers become fully aware of every stage of utilization process i. e. , pre-purchase behavior, behavior during purchase and post purchase behavior. Many studies in the past shows that each consumer behaves diversely for something i. e. , they buy the product for different reasons, pays off different prices, used the product differently and have different emotional accessories with the product (Solomon, 2009).

2. To set-up and maintain customers though online stores

Professor Theodore Levitt says that consumer behavior is of all importance to marketers running a business studies as the primary aim is to generate and maintain customers (Kumar, 2004). In case the consumers are pleased with the product, he or she will choose the same product again. Therefore, the merchandise should be advertised by markers in such a way that encourage customer to buy the product. Thus, creating customer and the retaining those customers are important. These can be done through understanding and paying close attention towards the consumer's behavior while making purchase decision or buying a product in market place. Moreover, the info published on the websites basically influence the customer's buying behaviour. Such information on published resources arouse consumer to buy something or service. In addition, updating such information can help the consumer to preserve to a product or re try the product if the merchandise has dissatisfied them (Solomon, 2009).

3. To understand the factors influencing Consumer's buying Behaviour

It is very important to marketers to consider the factors that have an effect on the buying behavior of consumer before coming into the market. There are many factors that can affect the purchase decision of consumers such as public influence, cultural affects, emotional factors and personal factors (Super Professeur, 2011). Understanding these factors helps marketers to market the merchandise on right time to the right consumers. For example, if marketer is marketing a product which is Halal. The marketers first consider all the factors that can effect consumers to buy Halal products, where they can concentrate on specific areas where Halal food is more sold.

The marketers need to pay attention to cultural affects such as religious beliefs, values and norms of individuals or societies targeted and lifestyle of the targeted consumers. The marketers can propose different strategies that persuade the targeted consumers to buy marketed products or services.

Moreover, the marketers should be ascertain the factors that affect and influences purchase decision of consumers (Solomon, 2009). When the marketers didn't understand the factors that may influence consumers, they'll fail to persuade the consumer to buy that product or will fail to meet the demands of consumers. Some factors cannot be straight discovered (Super Professeur, 2011). In such case, thorough knowledge of concepts and ideas of consumer behavior helps marketers to anticipate the consumer's buying behaviour to a reasonable level. Thus, understanding consumer's behavior to buy a product is intricate and requires marketers to constantly understand and apply various ideas and theories for successful marketing.

4. To raise the knowledge of sales rep influence consumer to buy product

All the merchandise and services marketed revolve around the behavior of consumers that how they will respond to them. Effective marketing of a product by sales representatives may help to provide right product to right people. Consumer behavior deals with the knowledge of the actual consumers need and want to buy and what goods and services are available to fulfill their needs. Thus, consumer behaviour deals with specifically with the behavior of folks i. e. , consumers. It's important for sales person to be completely aware of the customer's necessity so that he or she could clearly connect the advantages of the product to the clients. Moreover, the sales person by understanding consumer's demand and dependence on something can sell goods that are most meticulously related with their necessity. Besides understanding consumer behavior, the sales rep also needs to have order over their spoken dialect. It is because any miscommunication could harm brand reputation. Furthermore, if the consumers have significantly more knowledge about the product than the sales rep, the sales might fail to meet their targets. Thus, analysing consumer's behaviour and knowledge for effective marketing of products by sales people are important. The sales representatives must be completely aware of the consumer's behavior in several situations in order that they may help them in reaching their requirements and satisfaction (Solomon, 2009).

5. To understand the consumer's decision to dispose a product or services

Disposal of product requires throwing away of products by the consumers (Solomon, 2009). This behavior of consumer is very complex and requires more importance by the marketers. Understanding the consumer's behavior about how so when consumers dispose a product, the marketers or the companies can position themselves so that this behaviour could be limited (Raghavan, 2010).

If the merchandise or services which may have failed to deliver required or expected satisfaction by the consumers, the merchandise is disposed by the customers. For this, some marketers monitor the follow-up from the consumers so that they can gauge the cause of failure of the product. Moreover, in order to sustain customers, some marketers or organizations offer customers with services like exchange of product, money back guarantee etc. Although, these tools are helpful to affect post purchase behavior of consumers somewhat.

The method of disposition varies transversely from product to product. Some of the factors that lead to consumer's behavior to dispose something include mental characteristics, situational factors or the intrinsic factors of product. The internal characteristics include frame of mind, mood, emotion, public class, social conscience, belief etc. The situational factors such as urgency, practical use, fashion change etc. and intrinsic factors such as product style, toughness, reliability, adaptability, alternative cost, color, size etc. can lead to consumer's decision to dispose something (Rao, 2011).

For example, the non-public computers sold recently were typically demanded by consumers. However, credited to change in proportions, improving technology, affordability, convenience; most people have switched to notebook computers and mobiles with operating systems have disposed computers to a greater extent.

6. To greatly help marketers to optimize deal of product and create centered marketing strategies

The theories and principles of Consumer behaviour help marketers to maximize their sales also to create effective marketing strategies. Furthermore, these theories provides marketers with information on the consumer's behaviour to invest money, likely causes that incline them to invest more income on a product, and these two information help to plan strategies that should be used by the marketers for successful marketing of something (Goessl, 2011). Learning different consumer behaviour theories helps to understand different choices that consumers make to buy something. There are some factors that need to be carefully analysed by the marketers that assist them to increase their sales and develop effective marketing strategies. These factors are mentioned the following:

Consumer's rational behavior: It really is foremost important for a marketer to understand the situations where consumers behave rationally. Many consumer behavior theories suggest that the consumers want to get maximum benefit and satisfaction from the product by spending lowest amount of money. This implies that consumers do not spend almost all their money to buy a product and keeps a degree of money as their personal savings. However, on the other palm, the consumers having limited money spend all their money on purchase of their basic needs such as shelter, food and clothing. Thus, the marketing expert must carefully analyse both of these situations of consumers before marketing something or services (WiseGEEK, n. d. ).

Consumer's tastes and personal preferences: Understanding consumer preference and choices helps marketers to revamp their product in order that they could meet customer satisfaction. These factors may differ from time to time. The change in consumer's behaviour affecting by these factors should be carefully monitored. The marketers need carefully understand the consumer's involvement in the merchandise by wearing down the targeted consumers into demographics, like time, job and location as they contribute looking into information about consumer personal preferences.

Price of Products: Prices of products are a greatly discussed element in consumer behavior theories. The theories suggest that marketers should keep their prices low without influencing the product quality to entice consumers. It is because consumers go typically for products that are of good deal but satisfies their demand (Open up Learning World, 2011).

Features of Product: Increased quantity of features offered by the product tends to boost the price of products. In such case, consumers go for added features in something at affordable price. Therefore, the markers design their products in such a way that the merchandise offers maximum value or features to consumers at affordable price (Goessl, 2011)

Consumer's knowledge about a product: The marketer must know from what amount the consumers have knowledge about a product. Largely, consumers choose products with which they are familiar with. For instance, if the consumers are aware of the health ramifications of eating high unwanted fat food or junk food, marketing of such something to health mindful consumer will end up in failure.

Conclusion

In a nutshell, consumer behavior theories and principles are of all importance to the sales representatives or the marketers. As products are created to provide consumer's needs and needs, therefore, the merchandise should be carefully advertised for the successful successes of organizational goals. The analysis of consumer behaviour helps them in analysing different factors that has effect on the buying decision of the consumers. In the event the marketers didn't understand these factors, they would not meet their targets.

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