Consumer Behaviour Assignment Example | Topics and Well Written Essays - 2500 words

Consumer Behaviour - Assignment Example Consumer Behaviour The term consumer behavior is simply the behavior that consumers display in searching, purchasing, using, evaluating and disposing of services and products that they think will satisfy their wants and needs. Consumer behavior centers at how individuals make decisions to use or spend their available resources, that is, time effort or money on consumption linked items. This simply means what they buy, where they buy it, when they purchase it, how often they utilize or use it, how they analyze it after they buy it and the impact of evaluating it in future and lastly, the way they dispose of it. In other words, consumer behavior can be used to refer to the behavior of individuals in regard to acquisition, utilization, and disposal of products, ideas, services or experiences. Acquisition and use of information are also included in consumer behavior. This means that, communicating with consumers and getting feedbacks from them forms a crucial and important part to marketers. Importance of studying customers’ behavior Studying consumer behavior is very significant in our lives. It plays a very crucial role in our daily activities. Every body spends a lot of time in market places and other places shopping different items. Before doing any transaction, everybody must make a decision. This shows that, consumer behavior cannot be avoided in our lives. It also plays a crucial role in marketing. Understanding consumer behavior is important in successful delivery of firms’ offerings in market places. ... This is analysis and evaluation of trends and conditions in market places to understand consumers’ needs that are not fully met. Here, it is useful in identifying the weaknesses and developing these weaknesses to meet consumers’ satisfaction. Consumer behavior is also used in Target Market Selection. This is identifying different groupings of consumers who have needs and wants that are unique and segment selection that matches the strengths of the firm. It analyses all this and then offer better chances and opportunities. Consumer behavior also involves Marketing Mix Destination. This is development and implementation of strategies for delivering effective combination of different features of satisfying wants to consumers within target market. Marketing mix is made up of four components, namely; place, promotion, price and product. Each and every person has his or her own way of perceiving or understanding things. Cognition and affect are one and same (Chisnall, 1995). Understanding of marketing strategy is also part of consumer behavior. Strategies used in marketing as well as the tactics are based on beliefs about consumer behavior. These beliefs can either be implicit or explicit. Not to forget, regulatory policy needs wide knowledge of consumer behavior. In addition, understanding of consumer behavior will also be incredibly useful in social marketing. Social marketing is use of marketing tactics and strategies to create or alter behaviors that have constructive effects on the target individuals and the society. It is used to increase sound environmental behaviors and to reduce vices like smoking. It is also used to improve support of charities and reduction of behaviors leading to HIV/AIDS. Evaluation of attitude According to Olson and Peter, analyzing