Marketing & Consumer Behaviour Essay examples
Marketing and Consumer Behaviour – Dealing with Market Trends
Consumer behavior is defined as the mental and emotional process along with the physical activities of the people who purchase/ consume goods and services to satisfy their particular needs and wants.
One of the advantages of consumer behavior can be seen when looking at advertisers and how they advertise by keeping the consumers in mind. Advertisers spend a lot of money to keep individuals and groups of individuals (markets) interested in their products. To succeed, they need to understand what makes potential customers behave the way they do.
The advertiser's goal is to get enough relevant market data to develop accurate profiles of buyers that is basically to …show more content…
Today's global companies truly believe on this idea that a consumer must be fully satisfied. For this purpose they have the special departments like Research and Development. These global companies keep on doing research on the products and their customers. From research and surveys companies get the true picture of its standing in the market. According to the consumers' feed back they further develop and improve their products. For consumer it is an advantage that the company gives respect to his views and attitude and bring changes in the products accordingly.
The main role of marketing manager is to satisfy needs and wants of the Customers. This can only be done by the study of Consumer Behavior. Consumer is the most important person to the marketer because the marketer takes in to consideration on the liking and disliking of the consumer and he produces the goods and services accordingly. The more the Consumer Behavior is learnt the more the needs and wants of the Customers are fulfilled. The Study of consumer behavior helps us;
• To design the optimal product or service for customers.
• To determine where the product or Service should be available that would easy for the customers to buy.
• To determine what price will the customers give up purchasing product or service?