Essay about The Importance of Consumer Behavior to Marketers
In this report, we are going to discus the importance of consumer behavior study, knowledge and understanding to marketers, and how it will have a positive impact on the organization growth and revenue.
We are also, going to discuss the definition, types and the basic concepts in consumer behavior. The motives and the affecting factors will also be addressed in this report as well.
A summary of the major points will be highlighted about the importance and usefulness of a study of consumer behavior in the marketing activity of any organization, which imposes the need to focus on activities that will lead to it, and one of the most important activities is the marketing research. …show more content…
The study of consumer behavior captured the attention of many individuals, especially consumers, students, researchers and marketing people. The benefit of studying the consumer behavior for each party as follows:
A- For consumers: It helps to understand the process of purchase and consumption of goods and services. In particular, to know what to buy and why and how you get them, and help them to understand the factors or influence that affect the behavior of purchasing power or consumer. B - For the students: It helps to understand the relationship between personal and environmental factors that lead the combined effect in the behavior of the individual. C – For the marketers: It helps them in the following fields:
1- Discovery of appropriate marketing opportunities: In light of strong competition in the market, your organization can benefit from the marketing opportunities available to them. This can be done by marketing research, and of possible opportunities such as providing new products or find new users in the current markets.
- Market Segmentation: It aims to segment the market into groups or distinct segments of consumers, who look alike with each other within each sector, but they differ from one sector to another. Organizations can choose one or more of these sectors to be its market target and can be based on