Role Of Consumer Behavior In Marketing

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Role of Consumer Behavior in Marketing What is consumer behavior in marketing? Consumer Behavior refers to the study of buying tendencies of consumers. An individual who goes for shopping does not necessarily end up buying products. There are several stages a consumer goes through before he finally picks up things available in the market. 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? The psychology of consumers (what they feel about a particular product and their brand on the whole). How consumers are influenced by their immediate surroundings, family members, friends, co workers and so on. What a consumer thinks when he goes out for shopping? A marketer needs to first identify his target consumers and understand their lifestyles, psychologies, income, spending capabilities, mentalities to offer them the right product. Individuals from lower income group would never be interested in buying expensive and luxurious products. He would first fulfill his basic physiological needs
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