To understand this topic, we must know who a consumer is. The word consumer as used in marketing means, someone who regularly buys or purchases something from a particular store or company with an intention of using it…
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The term consumer behavior is simply the behavior that consumers display in searching, purchasing, using, evaluating and disposing of services and products that they think will satisfy their wants and needs. Consumer behavior centers at how individuals make decisions to use or spend their available resources, that is, time effort or money on consumption linked items. This simply means what they buy, where they buy it, when they purchase it, how often they utilize or use it, how they analyze it after they buy it and the impact of evaluating it in future and lastly, the way they dispose of it. In other words, consumer behavior can be used to refer to the behavior of individuals in regard to acquisition, utilization, and disposal of products, ideas, services or experiences. Acquisition and use of information are also included in consumer behavior. This means that, communicating with consumers and getting feedbacks from them forms a crucial and important part to marketers. Importance of studying customers’ behavior Studying consumer behavior is very significant in our lives. It plays a very crucial role in our daily activities. Every body spends a lot of time in market places and other places shopping different items.
Before doing any transaction, everybody must make a decision. This shows that, consumer behavior cannot be avoided in our lives. It also plays a crucial role in marketing. Understanding consumer behavior is important in successful delivery of firms’ offerings in market places. ...
This is analysis and evaluation of trends and conditions in market places to understand consumers’ needs that are not fully met. Here, it is useful in identifying the weaknesses and developing these weaknesses to meet consumers’ satisfaction. Consumer behavior is also used in Target Market Selection. This is identifying different groupings of consumers who have needs and wants that are unique and segment selection that matches the strengths of the firm. It analyses all this and then offer better chances and opportunities. Consumer behavior also involves Marketing Mix Destination. This is development and implementation of strategies for delivering effective combination of different features of satisfying wants to consumers within target market. Marketing mix is made up of four components, namely; place, promotion, price and product. Each and every person has his or her own way of perceiving or understanding things. Cognition and affect are one and same (Chisnall, 1995). Understanding of marketing strategy is also part of consumer behavior. Strategies used in marketing as well as the tactics are based on beliefs about consumer behavior. These beliefs can either be implicit or explicit. Not to forget, regulatory policy needs wide knowledge of consumer behavior. In addition, understanding of consumer behavior will also be incredibly useful in social marketing. Social marketing is use of marketing tactics and strategies to create or alter behaviors that have constructive effects on the target individuals and the society. It is used to increase sound environmental behaviors and to reduce vices like smoking. It is also used to improve support of charities and reduction of behaviors leading to HIV/AIDS. Evaluation of attitude According to Olson and Peter, analyzing
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CONSUMER BEHAVIOR Name Course Instructor Institution Date Table of contents Table of contents 1 Introduction 2 Consumer Cognitive process and Attitude 5 The Psychology of Brand Marketing 6 Marketing Effects 7 The Hierarchy of Effects Model 7 Consumer Decisions and the Reasoned Action Theory 10 Conclusion 11 References 12 Introduction Companies increase the sales of their products through the application of appropriate marketing strategies which capture the attention of the consumers and arouse their desire for the brand which makes them interested in the product and thus lead them into taking the action of purchasing and using the product.
Lush Cosmetics is a company in Australia that deals with the production of cosmetics, which include body lotions, deodorants, body oils and skin tones. Men’s body lotion has not been in the company’s production list in the past. The company has finally decided to include it in the product line as a diversification strategy.
This primary research will give a panoramic view of the possible success of these product lines and will also give a practical outlook to the strategies to be taken into consideration in the years to come. In pursuit of the same objective we interviewed four Australian male respondents in the age group of 20 to 40 years.
Therefore RCBS has hired Ad-Mark Marketing Solutions to increase the level of participation in the blood donation camps. Hence as a senior marketing consultant is important to analyze the whole consumer decision making process when it comes to blood donation; it is also equally important to analyze the various demographic, social and psychological factors that affect the attitude and behaviour of individuals when it comes to the donation of blood.
Therefore, this paper contains a report on how three representatives of different populations (in terms of demographic and personal characteristics) rate evaluative criteria and choose among the provided accommodation options. Responses of the respondents are analysed considering the differences in their demographic and personal features in order to provide the marketers with some advice on how useful an application of compensatory decision rule can be in the processes of targeting, market segmentation and product positioning.
Effort put into decision making process Low involvement Substitute products or competing brands Despite there being an endless list of other alternative brands of the same product, I did not consider any other as I have always liked the yogurt from Bulla Dairy Foods.
The Market Situation Analysis implies the various factors that affect the growth & development of a business, these factors also helps in planning & strategy making. The Market Situation Analysis basically consists of the firm’s internal, external & customer environment (Ferell & Hartline, 2010, p.
ng a group of people who belong to a particular area, region or place; the members of the group have some common features that keep them bonded for a long period. The analysts, marketers and even consumers try to gather information about the culture to identify the behaviours,
The strong competitor of Nando’s are KFC, McDonalds’, Subway etc. all of these companies produce almost same variety of products and have their presence in various countries of the world. With their strong and effective
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