Consumer Behavior Is A Significant Aspect While Developing Marketing Within Different Market Segments

1603 WordsDec 6, 20157 Pages
Consumer behavior is a significant aspect while developing strategies in marketing within different market segments. Though there are many studies and researches done on consumer behavior, it is important to note that consumer behavior varies from one product to another and one market to the other. On the other hand, marketing is concerned with the preparation, and producing a good or service, pricing as well as marketing and distributing that product or service to the market or consumers. In order to reach the consumer, the people bestowed with the responsibility of marketing such products or services should understand the consumer needs as well as the specific market for which the product or service will sell. Additionally, it is prudent for marketers to understand that consumers only buy products that give or offer value to them. It follows that a good marketing strategy focuses on the consumer buying behavior in identification of markets, growing them and utilizing them to gain a market share. The consumer decision making process which determined the consumer behavior is a sensitive issue which is mostly based on their experiences. This signifies the importance of marketing stimuli which is significant in provision of essential information about services or products they require. Additionally, consumers are influenced by psychological as well as social elements such as family, community and personal learning and motivation. On the other hand, consumer experience and self
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