Why is understanding consumer behavior of such importance to marketers? Give examples of how marketers apply their understanding of consumer behavior to their marketing strategies.
The study of Consumer behavior plays an importance role to the marketers which need to study in how individuals, groups and organizations select, buy, use and dispose of goods, services, idea or experiences to satisfy their needs and wants. The marketers need to research and understand how the study of consumer behavior works and only can positioning their production in the particular groups of people. Marketers need to considered about the factors that affecting the consumer buying behavior before starting a business. Some of the factors that may influence consumer purchase decisions are the cultural influences, social influences, personal factors and psychological factors. Those of the factors are vital when using them to apply as the marketing strategies. For example the marketers are planning to launch a non-halal restaurant in a new shopping complex.
Firstly, the marketers need to considered throughout the factors that affecting their consumer behavior. For the cultural influences, the marketers need to concern about the nationalities, religions and values norms or the lifestyle of their target consumer. So in this case the halal users are not be able to visit the restaurant since it touch the religions issue. Therefore the marketers have to change their strategies or set the restaurant in other places which accept with the constraints.
Furthermore, the occupation, lifestyle and economic situation of consumer are affecting a people buying decision. When comes to the introduction of sports car, family group of people will rather consider to buy a family car whereas some upper social class of people will take it as consideration. For the people in working class are usually driving a normal car or take public transportation. In this case, the marketers should selling the sports car to the consumer who taking the high salary in upper class. Therefore, the marketers need to understand which group of consumer they are targeting and put on focus to target them.