A consumer is a person who purchases a product/services with the aim of personal use and not for resale. A consumer plays a vital role in business because without consumer demand there would be no motivation for production. Consumers are very unique, and this uniqueness shows on our consumption pattern or process of purchase. Knowing and understanding consumer behaviour provides us with reasons why one consumer is different from another in purchasing and using products/services.
It also shows the decision making process individuals engage in when trying to evaluate, acquire, use, or dispose of goods and services. Consumer influences vary as a result of the uniqueness of each individual. Reasons for a consumer’s choice of product can be influenced by their income, knowledge, personality, past experiences, peer, values, available resources, values, to mention a few. An organization can be an influence in consumer’s choice due to these; advertisement, price, packaging, product availability, quality of product/services, brand representation.
Price: brand/price sensitivity, change in price when demand varies, price awareness
Promotion: how to promote, gain attention, aid repurchase, build trust
Place: retail outlets, distribution channels.
SATISFACTION AND DISSATISFACTION:
This is a very important concept in marketing. This is because their results or consequences make an impact on a brand. Satisfaction would lead to your consumer coming back for more of your products/services and even refer you to others by putting positive words out there concerning your brand. Dissatisfaction would lead to the consumer changing brand, also comes with complaints and would more likely lead to a consumer putting negative words out there concerning your brand.
HOW TO USE YOUR UNDERSTANDING OF CONSUMER BEHAVIOUR.
Your marketing strategy should deliver different sources of satisfaction because the reason a consumer purchase or uses your product or services is motivated by different motives
Your marketing strategy should help consumers in their decision-making process. This is because consumers make buying decisions to reduce the number of choices when it comes to product/services.
Put maximum effort to focus on factors that influence consumer’s thoughts of value. You should minimize the perception of costs, minimize the perception of risks, maximize the perception of benefits.
Consumer behavior should be understood because marketing management relies on how consumers behave or the results of their behavior/reaction to product/services.
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