The importance of consumer behavior to

Van Raaij, Consumer Choice Behavior: As with Herzberg's two-factor model, an equitable relation as perceived by the consumer prevents the elicitation of dissatisfaction. There are four stages that consumers go through in the hypothesis testing: Consumers who are unsure of where the economy is headed are much more likely to curtail spending and save more money, anticipating difficult times ahead.

Importance of Studying Consumer Behaviour

This impacts the product sales as there is increased product awareness. Need-achievement theory McClelland, attributes the strength of motivation to the cognitive expectation that the action will result in the consequence.

The study of consumer behaviour assists the manager to make the organisational efforts consumer-oriented. A person who is not even thinking about quitting smoking precontemplation is generally not ready to receive information about specific smoking cessation aids.

We may also conceive these utility needs as the basic dimensions of motivation. They may be "in denial" about their health problem, or not consider it serious.

The psychology of how the consumer is influenced by his or her environment which include the culture, media to which the individual is exposed, family etc.

Importance of consumer behavior in a marketing strategy

New Needs or Wants Lifestyle changes may trigger the identification of new needs e. Each segment needs and wants different products.

This may not only damage rapport but can also make the person even more resistant to quitting smoking. In this stage, the sales of a product increase.

Thus, consumer behaviour helps in achieving marketing goals. The Stages of Change model describes five stages of readiness Figure 5 - precontemplation, contemplation, preparation, action, and maintenance - and provides a framework for understanding behavior change DiClemente and Prochaska, Social motives are related to the impact that consumption makes on relevant others.

In all cases, consumers want to reach certain goal states and the products are instrumental in reaching the goals. Brand image or brand personality is an important psycho-social attribute.

Consumers can have both positive and negative beliefs about a given brand. Market exhibits considerable differentiations. Problem recognition[ edit ] The first stage of the purchase decision process begins with problem recognition also known as category need or need arousal.

The elements of the model include: They decide what to purchase, often based on their disposable income or budget. So, a marketer can easily come to know the changes taking place in the market. Even within these groups, there can be a wide diversity of characteristics.

Importance of consumer behavior in a marketing strategy

The origin of motivation is external in equity theory reference groups and internal in need-achievement theory. SUMMARY Motivation-need theories are reviewed, their implications to consumer behavior investigated, and the various findings and concepts integrated in formulating a model of choice prediction.

The Free Press, Ultimately, how consumers behave as it relates to the selection of goods and services for purchase has a tremendous influence on what companies manufacture and market. Experiences, not things A simpler life: Blackwell, Consumer Behavior, New York:.

The importance of consumer behavior and preferences It’s time (online) marketers have a different approach towards optimization. Rather than only thinking in terms of tactics or siloed optimization, what if we focused more on consumer behavior and preferences?

International Journal of Scientific and Research Publications, Volume 4, Issue 2, February 1 ISSN Analysis of Research in Consumer Behavior of. ADVERTISEMENTS: Role or importance of study of consumer behaviour can be explained with reference to the points stated as under: 1.

Modern Philosophy: It concerns with modern marketing philosophy – identify consumers’ needs and satisfy them more effectively than competitors.

Attitudes. janettravellmd.comer attitudes are a composite of a consumer’s (1) beliefs about, (2) feelings about, (3) and behavioral intentions toward some object--within the context of marketing, usually a brand or retail store. The following are some of the points discussed that explains the value to marketers of understanding and applying consumer behaviour concepts and theories.

To understand buying behaviours of consumers. To create and retain customers though online stores. To understand the factors influencing consumers buying behaviours. Consumer Barometer from Google.

The importance of consumer behavior to
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What Is the Importance of Consumer Behavior? (with pictures)