Week 1 discussion questions-Marketing - Essay Example

1. What is consumer behavior? What is the importance of consumer behavior within the framework of marketing? How have competitive marketing techniques adapted to the increasing sophistication of consumers?Consumer behavior consists of the actual activities leading a buyer to make various purchasing decisions. External influences, such as peer group ideals or family influence, tend to drive the reasoning why customers buy the specific products they desire. Consumer behavior is important for marketing as the underlying factors which promote or discourage consumers from buying products creates a pathway by which companies try to sell their products.

For instance, if a company is attempting to increase its sales volume on its hairspray line, the company must understand what makes the customer want their brand over the competition. If a noticeable trend exists which indicates that consumers have stopped buying a firms product, they must understand what factors (both internal and external) have created this sales slump. Are consumers not buying because they believe their friends have suddenly begun demanding high dollar hair products? These are important factors to consider, as a company must routinely monitor trends in buying behavior to provide a product which consumers will adopt.

Competitive techniques to appeal to sophisticated customers include visually appealing, contemporary promotional advertisements and continuous monitoring of various trends in consumption. Using modern appeal, such as advertising on portable technology and the internet, are attempts to capture increased interest in complex markets. 2. What are three aspects of your lifestyle that are different than your parents’ lifestyle? What impact does this difference have on the strategies organizations use to market to you compared to your parents?

The primary difference in lifestyle would consist of the methods by which we socialize and view our friendships. My parents are more traditional in their viewpoint regarding what constitutes a quality relationship, believing in the comfort of long-term acquaintances. In opposite respect, I tend to be more spontaneous, willing to make many new friends in the pursuit of finding more excitement through social activities. An additional difference includes my current financial situation, which is substantially lower than that of my parents.

Further, my parents are more laid-back, content with a lifestyle consisting of the majority of their time spent at home. In opposite respect, I enjoy a more active lifestyle with willingness for adventure. I believe this creates a significant impact on how organizations market to our very different lifestyles. I might offer that marketers realize that with advancing age, typically, comes a more relaxed and sophisticated attitude about lifestyle. Marketers would recognize this from an older generation standpoint, likely offering marketing activities from a mature level, possibly appealing to their desire for luxury or quality, such as with a high-dollar vehicle.

In my case, as an adventure-seeker or spur-of-the-moment, younger consumer, products which would appeal to my lifestyle and budget would have more flashy, hip advertisements. Organizations work hard at gathering demographic data about our different age groups, which aids the marketing efforts to capture our attention differently based on maturity or financial position.