whats is consumer behaviour?
How many times do you take decisions during the day?
What am I going to eat for lunch?
What should I wear for the upcoming party?
Which shoes should I put on?
All these questions are important to marketers.
Decoding the processes behind customers’ decisions means that these info can be used to boost revenue.
But let’s start with the definition of consumer behavior.
Consumer behavior is the study of how, where, when and why consumers buy, use and get rid of products or services.
Also, it incorporates several sciences including psychology, biology, chemistry and economics.
By understanding consumer behavior and how consumers decide on a product, marketing experts can fill in the gap in the market.
Furthermore, they can identify the products that are needed and the ones that are obsolete.
The importance of studying consumer beahvior
Let’s suppose you need a new car!
How would you go by satisfying your need?
What about your budget?
And where would you buy the car?
These are just some of the questions consumer face on a regular basis.
Basically, based on psychological factors, age, gender, culture etc., each consumer will answer those questions differently.
For companies that sell cars it is important to know the answers to this questions.
That is to say, the answers will help them know the types of cars to design, build and the place where to sell them.
Therefore, it is important to understand how consumers take decisions.
How to Analyse Consumer Behaviour
Subsequently, the next question is: How can I know all the above if every consumer has different opinions on purchasing products?
And secondly, what is the reasoning behind them?
The answer comes from consumer behavior analysis.
But before we dive into what a consumer behavior analysis should reveal, it is important to understand its meaning.
consumer behavior analysis
Consumer behavior analysis is the study of how people make purchase decisions.
Basically, a consumer behavior analysis looks at every step in the purchase journey of a consumer.
In other words, it provides insight into what’s driving consumer behavior.
A good consumer behavior analysis includes investigation about the following items:
- Who purchases your products or services?
- How is the purchase decision made?
- What’s the reason a consumer buys a product?
- Which are the reasons that can influence a consumer to decide for an alternative product or service?
- Where do customers purchase the product?
- When do consumers buy a product?
- The consumer’s opinion about the product? And is the role of consumers’ lifestyle in their buying behavior?
it takes time to carry out a consumer behavior analysis
In conclusion, remember to give your analysis time!
Understanding your customers can revolutionize your business.
However, it’s about a process therefore, be sure you put in the time, effort and patience.
It will reward you!
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