Role of Consumer Behavior in Marketing Decisions - Research Paper Example

?Company Company Address Memo Marketing Consultant Role of Consumer Behavior in Marketing Decisions Purpose The paperseeks to discuss why and when consumers buy a given product. All this happens in relation to the decision made by the consumer either individually or as a group. It will also try to assess and understand the influences of products on the consumers’ behavior and how it takes place with reference to market decisions they undertake. The reader should understand the different consumer behaviors that are usually portrayed at the market place that make buyers opt for certain goods and not others. It is through such understanding that they grow up to become effective buyers and at the same time of the best products in the market (Wayne & Deborah, 2009). This will help avoid impulse buying among consumers hence invest in well. A good consumer should be able to portray the three major characteristics of a consumer namely a user, payer and buyer. This implies that relationship marketing is a vital aspect in the market decisions that are reached at by a buyer. Consumers in ant market setting are considered as the most vital aspect to the seller as they are a contributing factor to the profits that are made by the sellers. Branding Strategy The brands formed should be those that will help maintain the trust of the consumers. They are expected to be eye catching and convincing. It will serve as a form of company identity and it should be able to tell a lot about the company in question. As a government organization, our brand should be one that can be able to convince the consumers about our products or the services being offered. The company needs to define what its brand in order to be able to create a foundation for all the components that are to be included in it. It is through the brand that the company will be able to undertake a market evaluation and obtain all the required market related information and come up with practical strategies. The brand will also enable the organization to come up with objectives that will serve as a platform for working on (Edelman, 2010). Through the objectives, the organization will be able to focus on the target audience and this will enable them understand the consumer behavior. The company will also be able to set its market target in order to get the limit supply of their products to given consumers. This will become vital in avoiding unnecessary losses. In order to attract new hires, the company should discover and eliminate the brand barriers in existence. This is an analysis that will be undertaken in order to be aware of the principle barriers that exist and can be responsible for the inability of the product to be successful. Branding is vital as it serves as identification in the market place. It communicates on behalf of the product and the company at larger and should be made in such a manner that it convinces the consumers (Wayne & Deborah, 2009). The target market has to be clearly defined and this is through a brand strategy where the consumers get to understand that you are talking specifically to them. To better understand your market group and consumer behavior, the company is expected to conduct an intensive market analysis. Competitors have to be known as they also influence the movement of goods in the market. Recommendations It is recommendable that as a company, we be able to consider people with common interests so that we can have goals that will enable the company adjust its strategies so that they are able to meet the market demands and competition. Communication is a vital foundation through which the organization will build a good relationship with its consumers. Here ideas will be shared between the two parties and this will help the company to know where to improve on the services being provided. It is through communication that the company will be able to define better their brand strategy to their consumers in order for them to understand the company better. Secondly, the company should know that their brand is their business models that explain much about them. They should be able to challenge their own business model so that they are able to maximize on the potential of their brand. Consistency should be the key message that will bring about differentiation. The company should be able to own the position they are in and allow themselves room for improvement where possible. This is only possible where the company starts from the inside out. This implies that, everyone in the company tell what they think about the company (Brian & Craig, 1990). The company should ensure that it remains relevant and flexible in the market. This implies that it should make the necessary adjustments when need arises. Better stated, it should not cling to the old ways such that it becomes irrelevant in the market and to the consumers. Through flexibility, the organization is able to reinvent itselfes through creativity. Target Market and Consumer Behavior Principles These principles focus on human behavior and how they affect how consumers make purchase decisions. The company should understand that it is the consumer who has the authority to determine the flow of products in the market. It is through listening to the sales people that they decide whether or not they should purchase a given product. They should be able to convince the consumers and this is through comparing their products with other products. This makes the consumer to make a comfortable decision whether or not to purchase the given product. Social proof cannot be ignored either. Consumers will be encouraged to buy a commodity that they see other people buying and using more often. This indicates to the company that consumers are comfortable with their products and they have to try and increase on the amount of production together with the quality (Barwise & Meehan, 2010). When the demand is high for a given commodity from a specific company, it serves as a challenge to the other companies which come out with more improved products/ it should not serve as a challenge to the high selling company but instead should encourage them to continue producing more. The company should be consistent in its production levels in order to maintain the consumers they have. To ensure consistency, the prices set by the company should not be too high to the extent that the consumers tend to opt for other products. It should also not be too low to the extent that the company cannot be able to maximize on its profits. This will be a problem when they are unable to maintain the consumers for their products. References Barwise, P. &Meehan, S. (2010). The One Thing you must get Right When Building a Brand. Harvard Business Review. Vol. 88. (12). 80-84. Brian, M. & Craig, J. (1990). The Psychology of Consumer Behavior. New Jersey: Lawrence Erlbaum Associates, Bulik, B.S. (2010). Mad Ave's myopia when it comes to Main Street. Advertising Age Oct 11, Vol. 81. (36). 34.   Charles W. L., Joseph F. H. & Jr., Carl, M. (2009). Essentials of Marketing, Canada: South Western Cengage Learning. Edelman, D. C. (2010). Branding in the Digital Age. Harvard Business Review. Vol 88. 62-69. Ludi, K. & Steve, B. (2005). Marketing Communications. Johannesburg: Juta and Company Limited.  Marieke, K. & de, M. (2010). Global Marketing and Advertising: Understanding Cultural Paradoxes. London: Sage Publishers, Milkman, K. L. (2008) Tap Consumers' Desire for "Shoulds". Harvard Business Review. Jul-Aug. Vol. 86. 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