Marketers must have a careful consideration in analyzing the behavior of consumers as they usually decline what seems to be a winning offer. The buying behavior is complicated as various factors influence it.
Understanding these behaviors is an important break through to the marketers. Consumer behavior is rationale and target oriented. Marketers may think that they have completely understood their consumers but the decisions to purchase seem to be irrational. What is perceived as an irrational behavior to a marketer is very rational to the buyer.
- The consumer is liberal.
The buyer is not obligated to consider the marketing strategies of the marketer. Consumers process information carefully and in most instances they have the upper hand in selecting the best product to choose from a variety of other available products. Consumer behavior is progressive. The consumer progresses to ensure that the products they get adequately satisfies their needs. Marketers are to come to terms with this process.
- Consumers differ in preference.
Individuals who have the same roots in terms of culture, rank in the society, and means of livelihood may depict very diverse lifestyles. A lifestyle is an individual’s way of life as depicted in his or her actions, views, and interests. These diverse consumer lifestyles affect their purchasing power.
- The role that a consumer plays in the society affects his or her purchasing power.
An individual constitutes diverse groups such as family, unions, and associations. A person’s task in each grouping is related to his or role and status in the particular group. A role is defined as a list of tasks that the individual is expected to accomplish according to the other people who directly or indirectly depends on either him or her.
- Consumer behavior is influenced by his or her financial status.
This greatly influences the buyer’s ultimate product choice and the decision to exchange his or her money for the particular commodity. The end users usually restrict expenses on the eating-places, entertainment, and holiday at the times they are experiencing financial constraints. They cut back on the kinds of expenditure they want to make. It is essential that marketers pay close attention to the flow in personal incomes and savings.
- Adaptation of products
It is essential for marketers to choose on the level to which they will modify their commodities and marketing strategies to fulfill the distinctive requirements of different end users in a variety of markets.
- The variance of international markets
Marketers can opt to standardize their commodities and for the reason of reducing the operation costs and benefit from economies of scale. However, modifying marketing strategies in each country gives rise to better products that adequately meets the needs of the local end users.
- Consumer behavior is strongly controlled by cultural diversities.
For example, in the West, an efficient product’s brand name will be brilliant and short to the point, suggesting the purpose of the commodity. However, the same product in Asia must have qualities of luck to fit in this culturally different market.
- Advertisement
Advertisement can change the behavior of a consumer. Advertising adds the appeal to the commodity hence enables it to get to the target end user. Advertising relay the information about a commodity to a consumer hence ease the process of transaction. The target audience gets the information about the commodity before making the final purchase decision.
- Trends in globalization and its influence on the behavior of consumers
The changes due to globalization have increased the exposure of the consumers to varied influences. These influences could arise from technological improvements. Motivating a consumer affects his or her purchasing ability
- Motivation
An individual usually has more than one need at a time. A number of needs are natural such as feeling of thirst and hunger while others are psychological such as want for recognition and satisfaction. Motivation often ignites the different needs of a consumer . Marketers often work on arousing this need in order to reach the consumers.
- The role of perception in consumer choices
Perception is the method through which individuals choose, categorize, and deduce information to come up with a significant view of life. An individual that has been stimulated is prepared to act. The action taken depends on how the individual perceives the situation.
- Learning and consumer behavior
The behavior of a person often changes after learning through experience. The use of efficient motivational techniques and different marketing strategies can make consumers to develop loyalty to similar brands if they like the utility they get from it as compared to dissimilar brands.
- Beliefs
These are mainly acquired through actions and learning routines. A belief refers to thoughts that an individual has formulated to represent something. If some beliefs about particular products are false, marketers often engage in campaigns to reverse these beliefs.
- Attitudes
Attitudes appertain to an individual’s constant feelings and tendencies in relation to different objects and opinions. Attitudes places individuals in a fix situation of either loving or hating things, going towards them or getting away form them.
Marketers ought to understand the consumer behavior before embarking on selling their goods and services as the end users vary in many aspects of their purchasing behavior.