Understanding Consumer Behavior Paper
Understanding Consumer Behavior
Every year product and services organizations spend a lot of money in attempting to understand what makes buyers think the way they do. The process of buying a product or a service goes through a five step process. Understanding the different stages help in the development of strategic marketing initiatives by organizations in a bid to increase sales volumes and boost the reputation of the businesses (Jain et al., 2017). Experts such as Professor Dan Ailey have suggested that each of the consumer buying process is dominated by irrationality. The buying process entails recognizing a need, searching for its information, product evaluation, and product choice and purchase and product disposal.Understanding Consumer Behavior Paper
Recognizing Need
The first stage of the buying process is the recognition of needs through thirst, hunger or any other deprivation (Jain et al., 2017).
Some product and services do not create an urgent need and advertisers should strategize their communication to initiate need for the products or services before embarking on any other step.Understanding Consumer Behavior Paper
ORDER A PLAGIARISM-FREE PAPER HERE
Searching for Information
After feeling the need to buy a product or a service, buyers result in searching product information to identify the best products, cost and the means to accessing products
Usually, consumers seek information from friends and through the internet (Wagner et al., 2020).
At this stage, advertisers should focus on availing reliable information on the products and services they sell so as to influence a favorable decision from buyers.
Product Evaluation
Contemporary markets have been flooded with products and services from numerous supplies leaving consumers with different choices.
At this stage, buyers focus on product quality, availability and cost (Yau et al, 2020).
Decision makers in the advertisement departments should focus on creating the best value and a competitive price for them.
Product Choice and purchase
Having gathered sufficient information on products and services, buyers proceed to make purchases
In this stage, they have made decisions and have set aside money to spend in purchases.
There is an opportunity at this stage, to influence more buying and repeat buying through proper packaging, after services such as transport (Wagner et al., 2020).Understanding Consumer Behavior Paper
In conclusion, consumer behavior can be analyzed through the five stages named above. The mastery of these stages results in quality strategies for sales and marketing and in turn leading to sustainable financial and repetitional growth for organization. Decision makers in marketing departments should seek to exploit any opportunity that will help them in making a sale and securing repeat business. Frequent learning and consumer research works should be frequented with results used in marketing intelligence.
References
Jain, S., Khan, M. N., & Mishra, S. (2017). Understanding consumer behavior regarding luxury fashion goods in India based on the theory of planned behavior. Journal of Asia Business Studies.
Wagner, G., Schramm-Klein, H., & Steinmann, S. (2020). Online retailing across e-channels and e-channel touchpoints: Empirical studies of consumer behavior in the multichannel e-commerce environment. Journal of Business Research, 107, 256-270.
Yau, P. C., Wong, D., Luen, W. H., & Leung, J. (2020, May). Understanding Consumer Behavior by Big Data Visualization in the Smart Space Laboratory. In Proceedings of the 2020 5th International Conference on Big Data and Computing (pp. 13-17).
Understanding Consumer Behavior Paper
