Wednesday, December 11, 2019

Consumer Behavior for Marketing Strategy-

Question: Discuss about theConsumer Behavior for Marketing Strategy. Answer: Task Consumer behavior can be defined as the behavior and the attitude of the buyer at the time when they make their buying decisions. The decision is made regarding which products to select and which not to be selected. There are many factors that affect this behavior of people in the environment (Quester, Neal, Pettigrew, Grimmer, Davis Hawkins, 2007). It is the sequential process that needs to be followed by the buyer in order to make intelligent decision of buying. Understanding consumer behaviors is very much necessary for the companies. This is because the main aim of the companies or the businesses is to market their products in a way the customers want to develop the products that satisfy the needs of the customers. This can only be dining if the companies know about the behavior of the consumer towards the products. The marketers of the products are one who needs to understand this behavior. Marketers position their products in the way the customers want products to be (Solomon, Russell-Bennett Previte, 2012). Thus, the marketer learns and research about the behavior of the consumers first and then positions the products in the same way to enhance the sales. There are many companies in Australia such as Woolworth and Coles which are very much customers oriented. These companies try to find out the needs of the customers and then position their products accordingly. Culture is one of the major factors that affect the consumer behavior of the people. Culture refers to the beliefs and the values that people follows and these values greatly affect the buying decision of the person. The behavior of buying is learnt at early stage by the buyers from the culture and the society they are living in. thus, it affects their buying decision for long term (Fraj Martinez, 2007). There are many companies which adopts the strategy of localization in order to market the products in the local market. This is because the people in different local market have different references and choices (Khan, 2007). For example, Coca cola is the brand that serves almost the whole world with its products. The company has the logo in which the word Coca-Cola is written with red color on white background but in China the logo has different elements. The written part is of white and the background is red. This is because it seems more attractive for Chinese customers. The reaso n being China is the country where red color is the traditional color and thus people get attracted towards the color more. Masstige is the term of market that deals with the products or brand that is not expensive but served to the masses as prestigious. The change in the choice of the consumers and the environment factors leads to rise in masstige products or brands (Schtte Ciarlante, 2016). This is because the consumer today have a lifestyle that needs to be showcased with the products and the brands they use, thus these brands needs to be prestigious as well as low priced. As far as the Australia market is concerned, it has been analyzed that the market of masstige products is becoming very popular. It has been identified that the beauty products industry is majorly affected by this trend because the women in Australia do n twats to over limit their credit cards for buying the products to enhance their beauty but also want the higher quality products in affordable prices this trend in Australia has changed the business pattern and leads to collaboration among the companies so as to cater this middle market of the country (Schiffman, O'Cass, Paladino Carlson, 2013). Target is the firm that has collaborated with the company called The Estee Lauder Companies those results in development of the Beauty Bank that is the space for three cosmetic brands that are reasonably priced. These brands are American Beauty, Good Skin and FLIRT. According to me, reference groups are those groups whose views are considered before making any of the shopping decision. Reference groups can give their opinions after experiencing the service of that predicts and may alter the buy decision of others (Dennis, Merrilees, Jayawardhena Tiu Wright, 2009). Reference can be given by any group of people such as neighbors, friends, social groups, salesmen etc. But, which group can influence the individual depends on the individual and the bond between the group and that individual (Blythe, 2008). In my case, the most trust worthy reference group is my friends. This is because they are the one who have similar choices like me and they have knowledge about the market so I trust them and consider their views before making any buying decision. Not only the people we know can affect our decision but the brand communities can also affect the buying decision. I am the members of one of the brand communities. The community name is My Starbucks Ide a. This community allows the Starbucks fans to communicate with each other. This communicate facilitates the users to provide their innovative ideas on the portal that is considered by the company to innovate their brands. References: Blythe, J. (2008).Consumer behaviour. Cengage Learning EMEA. Dennis, C., Merrilees, B., Jayawardhena, C., Tiu Wright, L. (2009). E-consumer behaviour.European Journal of Marketing,43(9/10), 1121-1139. Fraj, E., Martinez, E. (2007). Ecological consumer behaviour: an empirical analysis.International journal of consumer studies,31(1), 26-33. Khan, M. (2007).Consumer behaviour and advertising management. New Age International. Quester, P., Neal, C., Pettigrew, S., Grimmer, M. R., Davis, T., Hawkins, D. (2007).Consumer behaviour: Implications for marketing strategy. McGraw-Hill. Schiffman, L., O'Cass, A., Paladino, A., Carlson, J. (2013).Consumer behaviour. Pearson Higher Education AU. Schtte, H., Ciarlante, D. (2016).Consumer behaviour in Asia. Springer. Solomon, M., Russell-Bennett, R., Previte, J. (2012).Consumer behaviour. Pearson Higher Education AU.

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