Importance Of Consumer Behavior

Consumers are responsible factor for the sales of any product or services.So, when a new product is launched in the market, understanding consumer’s buying behavior becomes very essential.

For this marketer has to study and understand the various factors which influences the customers thoughts while buying any product or services. In simple words, the various reasons which govern and finally force the customer to go for that particular product and services.

So, Consumer Behavior can be defined as the study of when,why,where and how people buy or do not buy any products and services.

Thus,study of consumer behavior help the marketers to take vital decisions on marketing strategies for launching their new product.

Basically There Are Two Reasons For Buying Any Product/Services

Necessity Driven Buying Behavior

Every human being has certain basic needs and to fulfill those basic needs, one has to buy related products. Such buying behavior is said to be necessity driven and varies from person to person.

Impulsive Buying Behavior

Sometimes, there is no preconceived notions in the mind of the consumers, however certain product features,  packaging, promotional schemes etc force the consumers to buy them.

So, the marketers have to analyze the various factors which influence the consumers for impulsive buying or necessity buying .This needs the study of various other factors like:

Culture

Human beings are social animal and are highly influenced by their society.Also every society is different from one another and are governed by set of different wants,perception,behaviour and values which again depends upon its culture,subculture,social class.So,buying behavior differs from one culture to another culture .This helps the marketers to recognize the culture factor of their target customers and design& strategies their products accordingly.

Also Read

Six Important Types Of Consumer Complaints
Effective Consumer Sales Promotion Techniques
Consumer Behavior: Impulsive Buying Pattern
Green Marketing: Changing Consumers Appeal
Social Media For Customer Management

Social Factor

People are highly influenced by preferences of other people around them like family, friends, neighbours and roles and status and try to follow them.

Personal Factors

Importance Of Consumer Behavior2

Photo Vredit: Day10.co.uk

Like age, life style and occupation of the consumers, product life cycle influence consumer’s mind.Eg: people with different occupation will have different choice of products /services.

Economy

Buying potential of a consumer is a very important factor influencing buying behaviour.So,products pricing should be as per consumers purchasing power otherwise the consumers start looking for alternative choices.

Psychological Factor

Every consumer has set of perceptions, beliefs and attitude.So, marketers must understand those psychological factors and motivate the consumers to buy the product.

Consumers are the end users of any product or services and hence, study of consumer behavior is important for the marketers to analyze the various factors which influences consumers mind for buying products or services.

4 Comments

  • March 28, 2010

    johnygoy

    nice article, Are you going to do another one on how can consumer behavior pattern is studied ?

  • March 11, 2011

    max

    what are the five importances of understanding consumer behavior?

  • April 9, 2011

    joy

    it helped me a lot.thanks

  • June 25, 2011

    zoha fatima

    a very well written article.

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