Consumer Behavior Patterns and Responses - Research Paper Example

Consumer behavior patterns and responses are among the issues that have puzzled entrepreneurs since they directly influence market performance (Blythe 78). According to East, Wright and Vanhuele (101), approximately over 50% of firms, especially the middle scale companies do not have sufficient data about their consumer behavior patterns. This makes it extremely hard for such businesses to structure their operations toward meeting fully the demands of their customers (Noel 67).

Findings
It was found that most companies and businesses ignore the importance of information relating to consumer behavior. More than half of the businesses have failed to take into consideration the significance of data regarding the consumers; responses and behavior patterns in the market. Just about two-thirds of firms use the information they have to make decisions (Linehan 100).

Analysis and Recommendations
From the above statistics, it is noticeable that companies ignore the role consumer behavior plays in their market performance. It is suggested that all firms should focus and invest in unearthing information about their consumers’ behaviors. The data collected should be interpreted and utilized in formulating strategic decisions that aim at improving sales performance (Hanley and Morgan 79). Read More