The field of consumer behavior is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services, including consumers’ emotional, mental, and behavioral responses. The field is concerned with the behavior of individuals and groups as they engage with the products and services offered in society. It focuses on how internal and external influences impact behavior, and how individual and group behavior influences the marketplace. It also examines how consumers engage with brands, on social media and elsewhere, and how brands engage with consumers.
Important of consumer behavior
Understanding consumer behavior is important for marketers because it helps them to understand what influences consumers’ buying decisions. It also tells them how to tailor their products and marketing efforts to best meet consumers where they are and get them to buy. For example, marketers might study how consumers make buying decisions to find out why certain products sell better than others. This helps them to fill in the gap left by consumers’ limited time and money, and it helps them to devise strategies to get their products in front of consumers when they are most likely to buy. Your consumer behavior analysis is intended to help you understand your customers, and the best way to do that is to observe them in their natural environment. You've already started by observing customers in your coffee shops, but you can go much deeper than that. You can watch how customers interact with your brand on social media. You can watch how customers behave when they're shopping for coffee, and you can even go so far as to have conversations with them.
Consumer Behavior types
There are majorly four types of consumer behavior which are discussed as follows:
Complex buying behavior The behavior of consumers when they are buying an expensive, infrequently bought product is very different from the behavior of consumers when they are buying a low-cost, frequently bought product. In the first case, consumers are highly involved in the purchase process and will spend a long time researching the product before committing to buy. In the second case, consumers are less involved in the purchase process and will buy on the spot without much thought. This is because the cost of buying the low-cost, frequently bought product is low so the risk of making a purchasing mistake is low.
Dissonance- reducing buying behavior The consumer is highly involved in the purchase process. The research, compare and discuss options with family, friends, and experts. Consumers feel a great deal of responsibility when making a purchase decision. They want to ensure that they are making the best choice for their family.
Habitual buying behavior This is the behavior where the consumer has very little involvement in the product or brand category. For example, if you are going to an electronic shop you buy your preferred earphones. You are just exhibiting your choice and not brand loyalty.
Variety seeking behavior The consumer purchases a different product than what he usually purchases. He purchased a new product not because he was not satisfied with the last one but because he wanted to try something new.
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