Essay about Consumer Behavior And Consumer Behaviour

2422 Words Oct 12th, 2016 10 Pages
Consumer Behavior When developing and planning to advertise a new or existing product, an important step for the company or firm is to access the consumer behavior of their target market. Consumer behavior can be defined as the study of how consumers make decisions on “what they buy, want, need, or act in regards to a product or service” (Schofield, 2016). Consumer behavior results that are properly executed by firm or company can provide important information about consumer wants, how consumers learn about products or services, and how they spend their money (Schofield, 2016). Companies who have mastered and succeeded in their advertising and marketing efforts have a great understanding of consumer behavior, in which they tailor their advertisement and provided products or services that appeals to the consumer (Schofield, 2016). In order to have a clear understanding of consumer behavior, all three components of consumer behavior such as cultural, psychological, personal and social information have to be gathered and compiled create advertisement that would intentionally create a demand or need (Schofield, 2016).
Cultural factors are the “different components related to culture or cultural environment [that] the consumer belongs” (Perreau, 2016). A consumer cultural environment instills moral and values, behavior norms and preferences to their own cultural. For example, as it pertains to the Owlet baby monitor product, consumers in other parts of the world such…

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