Consumer Markets And Buying Behavior

Buyer’s behavior is strongly influenced by members of their family. Personal factors can also affect the consumer behavior. Some of the important personal factors that influence the buying behavior are: lifestyle, economic situation, occupation, age, personality and self-concept. Age and life-cycle have potential impact on the consumer buying behavior. The occupation of a person has significant impact on his buying behavior. Consumer economic situation has great influence on his buying behavior. If the income and savings of a customer is high then he will purchase more expensive products. On the other hand, a person with low income and savings will purchase inexpensive products. Lifestyle of customers is another import factor affecting the consumer buying behavior. There are four important psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs and attitudes. The level of motivation also affects the buying behavior of customers. Every person has different needs such as physiological needs, biological needs, and social needs. Customer possesses specific belief and attitude towards various products. Since such beliefs and attitudes make up brand image and affect consumer buying behavior; therefore, marketers are interested in them.

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

When making a consumer decision-making there are several influences that can affect, motivation, attitude, lifestyles, learning, and perception. A person behavior is a key point since it shows the person within their cycle. As we change daily as family our cycle changes as well. In the US, we have different socials classes, and each of them shows different values, behavior, and way of seen life in

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

Consumer behavior is the most important factor which we need to concentrate. The more we understand this factor the more success for our business. In our case, we focus on the following elements:

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.

Cultural, social, personal and psychological factors are the primary types of factors that influence consumer behavior.

some critical factors related to the consumers & their buying patterns are the target market size & growth, sale cyclicity, & seasonality.

The overall purpose of this report is to come across the challenges of understanding the consumer and how an understanding of consumers is a key input into the development of an effective and efficient marketing mix strategy. How and in what ways marketing and consumer behaviour theories influence (or influenced) decision making process for a product. This report serves a set of factors and influences that effect the consumer buying behaviour in different products. It contains the purchases for one week in a matrix and can be useful to the marketers to analyse the consumer buying behaviour and the needs and preferences of the consumer when purchasing a product. This report can also help the marketers to plan their marketing strategy in the best way that consumers and the companies get benefited. The marketers can analyse a product in view of the consumers who are the ultimate users of the product. Analysing this report gives them a view of new strategies for their product to be successful in the market.

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)

What is cultural factors? Cultural factors are the things people learn while growing up and it is also what makes them the people they are today. Cultural factors play a huge role on the development of people all over the world. People living in china will not have the same cultural qualities as the people who were born in the united states. During the medieval times china was a not the super power they are today. China was actually the world's most developed country in during those times. The reason why they were so developed was due to their sense of pride and self-sufficiency which then eventually led to a loss of borders.

Second, marketing helps the business find out customer needs, use different selling plan to improve the sale of the goods or services and then satisfy the needs. Marketing design the plan for the product and the managers can follow the four condition, product, price, place and promotion, means the 4Ps of marketing, to decide the final plan. Understanding the customer needs are important in marketing. Because different type of customers have different needs. Then, customer always be the main focus into the marketing plan (Chapman 2011, p. 125). However, before the managers decide the marketing plan, they need to understand the six main type of market. Because choosing the correct market is important for a product. And it affects the following part of the marketing plan, such as decision of selling place or the plan of promotion. Then, the six types of market are resource market, industrial market, intermediate market, consumer market, mass market, and niche market. Those types of market are totally different and the managers need to choose it carefully when they decide the marketing plan (Chapman 2011, p. 138-139). In addition, there are four main elements influence the customer’s buying behaviour. On psychological, the influence only affect individual, then the buying motives, personality and personal education also affect the buying behaviour. Next, on sociocultural, the culture of the country, customer’s social class or family culture might affect the active of buying.

In the present era of globalization, companies are finding it difficult to attract the customers towards their offerings. Proper understanding of consumer buying behavior will help the marketer to succeed in the market. In India, with increase in purchasing power of people leading to the change in their life style, there has been a huge demand for

Academically speaking, although consumer buying behavior has been focused and researched in long time, it still need to be researched, because consumer-buying behavior can be changed by different variables, such as different markets, cultures and economic situations (Sharma, Bhola, Malyan & Patni, 2013, p. 817; Ghochani & Zadeh, 2015, p. 308). On another side, Wood (2000) said that in consumer market, a brand can provide the differentiation of one seller’s product from the other competitors, so that managing a brand correctly is very important because it can bring customer satisfaction, and low price sensitivity (Knapp, 2000, p.33; Ghodeswar, 2008, p.4). So this topic is very essential in the fields of marketing, business and management as it researches how consumer-buying behavior influence on managing brand in a new view that provides a new research orientation for this field.