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The Role of Consumer Behavior in Marketing Decisions - Research Paper Example

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Company Name Company Address Date of Memo To: Marketing Consultant From: Subject: Role of Consumer Behavior in Marketing Decisions Purpose The paper seeks 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…
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The Role of Consumer Behavior in Marketing Decisions
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Download file to see previous pages 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 shou ...Download file to see next pagesRead More
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