As marketers, how your consumers feel about your product is your number one priority. Their satisfaction means generated increase in sales and their dismay means lower sales that might not meet your monthly quota.
No matter how good you think your product is, when people don’t use it, it’s not good. Your consumer dictates the effectiveness of your products, your branding and your marketing techniques and strategies.
Because consumers are big players, we should know exactly how the consumers think. We must know what makes them tick?
So, we learn these by knowing the consumer’s behavior. In measuring the consumer behavior, we must first understand what that means. Consumer behavior is a study of individuals, groups, organizations and the processes they use to select, secure, use and dispose the products, services, experiences and ideas to satisfy needs and the impacts that these processes have on the consumer and society.
How do consumers think? They think based solely on what they deem is important and what are the contributors that make them feel good physically, emotionally, economically and logically. Your goal as a marketer is to be a big contributing factor in meeting the consumers’ needs.
What are the things to consider in consumer behavior?
Every product development is catalyzed by a market need. The best example is the shifting roles of a career woman. Through the needs of a career woman and her influence, products are created to cater to her needs like on the go items.
Or simply put, if there is a great need for something for a certain target market, the producers (you) create it.
Now since the producer knows the market need, they create products which are called buyer segments.
The segment targets are the products created for a particular target market. The segment targets have their different priorities and expectations. So the products created must be able to target the general product appeals.
Since segment targets have different priorities and expectations, and the products must be able to target these expectations, product appeals are directed at addressing typical expectations per category. This is identified as analyzing the category benefits. In analyzing the category benefits the consumer makes competitive choices.
The competitive choices a consumer creates is when he/she understands the risks that go with buying the product.
The set of risks are first, the performance. A consumer takes a critical look at the performance claims of a product and here he/she determines the level of satisfaction to be expected from it. Second, the social aspect. In here the consumer considers if there is a threat of social rejection by the image of the product to how people will perceive the consumer when he/she buys the product. The third is the consumer’s self-image. The consumer analyzes whether or not the product can contribute to his/her improvement – here brand is key.
Brand choice hierarchy
Here the consumer first looks at all the considered purchases, and then he/she rejects what he/she thinks will not work for him/her. The brand that fits closest to the perceive satisfaction matrix qualifies as the considered choice of the consumer.
Now that you know how the consumers think, what’s in it for you? How does the study of the consumer behavior improve your marketing strategies?
When you know the consumer behavior, you can improve your marketing strategies by understanding issues that companies face such as:
- The psychology of how consumers think, reason and select between different alternatives
- How the consumer is influenced by his/her environment
- The behavior of consumers while shopping and making other marketing decisions
- The limitations in consumer knowledge or information processing abilities and how this influences their decisions and the marketing outcome
- How consumer motivation and decision strategies differ between products that differ in the level of importance or interest that they entail for the consumer
- How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer
You as a marketer can apply consumer behavior in the marketing strategy. Knowing how consumers think and behave makes it easier to craft campaigns and create products that they will certainly buy. Also, you can create social media marketing plans and strategies based on what your consumers dictate or suggest. All this is to improve the quality of the relationship between the consumer and the company, and creating strategies fit for your consumers will in turn make them better consumers.