When a business plans to launch a new product, there are different things to keep in mind before doing so. The consumer buyer behavior is an important thing to take into consideration. This assignment will convey how some factors affect the consumer behavior, and how these factors play a big role in influencing what people choose to buy. Consumer behavior is simply the study of the behavior of customers while buying any product. It is a significant aspect to bear in mind before launching a new product as mentioned previously.
With the continual pressure of competition, success and innovation, it is important for companies to focus on concepts that will allow them to be prosperous. These concepts include knowing about the consumer, motivation, problem recognition, psychographics and marketing ethics. Focusing on these five strategies may help a company create a better business plan and overcome challenges. Consumer behavior is the study of how a consumer buys products, the consumption, and disposition of goods, services, time and ideas by human decision-making units. Consumers should be a primary focus for companies therefore it is important to understand the attitude of people when they buy, consume and dispose of products or services.
Foreign language plays an important role in making customers feel comfortable about buying products or services. The company needs to use positive and friendly language to show understanding and care for their customers. Listening to customers carefully to know what they need or want from the organization is very important, because it makes the company staff know how to make them satisfy. Consequently, the company can offer them some form of promotion and for products that are directly related to their needs. Foreign language skill from the managers’ point of view is very important to their business administration, especially for communication with customers, other companies, suppliers and other stakeholders and communication gave the opportunity to expand their businesses from the national level to the international level, which offers further success.
What are consumer insights? What types of business challenges can benefit from consumer insights? How are consumer insights obtained? The consumer insights usually helps firms to understand the notion behind consumer attitude, preference and belief for purchase a certain product among the basket of brands available in the market. These insight can be gathered from consumer surveys, both qualitative and quantitative in nature, which can help the company to gather data on the strength and weakness of the brand and product attributes that are associated with frequency of purchase and usage of the product.
Once the target market has been distinguished, it is now important to get to know these customers in more detail. Knowledge of your customers will help to distinguish patterns and even “buying cycles”. Surveys are a great way to gather in-depth information to find out what their customer wants, when they want it and where they want to buy it. The picture below outlines further steps in the marketing strategy process which included analyzing the competition which we have done in our “competitor analysis” section, it also shows defining the marketing mix which we will go into more detail later in this report, along with financial reports on how much of our funding
Improving customer satisfaction is one of the important goals of any service firm. Some firms evaluate their employees on the grounds of their ability to please and satisfy their customers. Companies reward their employees on these grounds as
Attitude has to deal with how a person feels or acts towards something (BusinessDictionary.com, 2016). Attitude allows organizations to study their consumers and know the exact service that is supposed to be delivered to them (UKEssays, 2016). Consumer’s attitude is important in marketing cause it allows them to know how they feel about things, their belief towards it and their behavioral intentions. Some consumers can have positive attitude and negative attitude towards products (Consumerpsychologist.com, 2016). Consumer’s attitude gives them the final ‘go ahead’ when purchasing tickets to travel.
Various factors, be it cultural, social, personal or psychological influence the buying decision of individuals. Marketers need to understand the buying behavior of consumers for their products to do well. It is really important for marketers to understand what prompts a consumer to purchase a particular product and what stops him from buying. To cope up with these differences and to bridge this gap it becomes necessary to understand the behavior of different customers with different approaches. What marketers need to understand?
1.0 Introduction Consumer behaviour research attempts to understand the buyer decision-making process, both individually and collectively. It studies individual consumer characteristics such as demographics and behavioural variables in an attempt to understand people’s wants. Consumer behaviour research allows for improved understanding and forecasting concerning not only the subject of purchases but also purchasing motives and purchasing frequency according to Schiffman and Kanuk (kanuk, 2007). For companies to attain commercial success, it is important that managers understand consumer behaviour. The relationship between consumer behaviour and marketing strategy is emphasised because the success of companies.
If the consumer is satisfied from the product, his behavior would be positive towards that product and if he is not contented, his behavior would be negative towards the product. Consumer behavior is defined as the study of individual, organizations or groups and the processes they used to select, use, secure, dispose of products, services, experiences, ideas to fulfill the needs and the impacts that these processes have on the consumer and the society. IMPORTANCE OF UNDERSTANDING CONSUMER BEHAVIOR The basic idea of marketing oriented company is that the consumer is the center around which the business revolves. Therefore understanding consumer and his behavior is the means to success for a marketer or an organization. The study of consumer behavior helps: 1) To know how buying behavior of the individuals get influenced.