Questions On Consumer Behaviour And Consumer Behavior

1. Describe the type of consumer buying decision that best describes the choice to indulge at Ethel’s.

Consumers are the centre of many marketers work. While the consumer is part of the marketing environment, it is also very important to recognise and understand the more personal and specific influences effecting consumers and the nature of the decision making process they use.

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).

The market is composed of consumer’s unique needs and preference. Marketers target to those consumer whose needs are most effectively met by their own offering. Marketers identify consumers who are similar with regard to key traits, such as product-related needs and wants, and who would respond well to a similar marketing mix (Lascu & Clow, 2010).

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

Marketers closely examine the behaviours of consumers to understand what motivates an individual to purchase a particular product.

A consumer is any person that is involved in the process of consumption. They are identified according to the market type to which they belong, namely final and industrial consumers (Solomon, et al., 2013). Understanding the consumer behaviors will aid in appreciating the various market segments and developing strategies for effecting market penetration in these segments. It will also help in identifying market gaps and shape their needs and objectives so as to solve the day-to-day consumer’s concerns in purchase.

To determine what products to produce companies must first understand why consumers buy the items they buy, or determine their interest and necessities, this understanding is gained from analyzing consumer behavior. Consumer behavior is defined as the process by which individuals search for, select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants (2017). To understand how to target their market consumers Nighthawk Motor’s needs to analyze the factors associated with consumer behavior. Research services describe five important consumer behavior factors as; marketing campaigns, economic conditions, personal preferences, group influence, and purchasing power (N.D.).

To start, marketers have to understand how the market where their consumers buy works and is influenced. The behavioral pattern of consumers is referred to as consumer buyer behavior, and all of these consumers combined forms the consumer marker. When marketers are studying the consumer market, it should be noted that they’re not only looking at what consumers are purchasing, but why they are purchasing, and how (or how much) they are purchasing. To understand why consumers purchase goods, marketers tend to look towards what factors could possibly influence consumers to buy. These factors could be cultural, social, personal, and/or psychological, but they all play into how and why consumers buy products, and through analysis, marketers can understand what kind of person responds to certain kinds of products and marketing strategies.

Understanding your consumer target markets will guide the development of your product, how you price your product in the marketplace,

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

Child labour has been defined as any work done by the children in order to economically benefits their family or themselves directly or indirectly, at the cost of their physical, mental or social development. Child is the loveliest creation of nature. But it is the circumstances which force them to hard labour. They have to earn livelihood from early childhood, stopping their mental development. The nation suffers a net loss of their capacity as mature adults

The value of studying the consumer behavior is that it gives vital information to an organization for designing an effective marketing strategy. The way a consumer thinks, perceives, decides and is influenced is important in designing of promotional campaigns for any product.

Due to the difficult economic situation that people are facing these days, customer’s income has a major factor in determining their consumption behaviours.

B) Individual differences and influences (consumer resources, motivation and involvement, knowledge, attitudes and personality, values, and lifestyle); and,