The study of consumer behaviour helps marketers to recognize and forecast the purchase behaviour of the consumers while they are purchasing a product. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Advertising is everywhere and reaches consumers all day. Advertising also plays an important role in developing sales and market share. Consumer’s taste and preferences: Understanding consumer taste and preferences helps marketers to revamp their product so that they could meet customer satisfaction. Understanding consumer behavior is important for all companies, especially before the launch of a product or service. In a competitive market, it is important for advertising managers to grab consumers’ attention through advertisements and sales promotion. The author has applied the AIDA (Attention-Interest-Desire-Action) theory and has discussed the principles on which effective advertisements are run. Studying consumer behavior is important because this way marketers can understand what influences consumers’ buying decisions. Models of Consumer Decision Making 6. As consumers are the most important person for marketer or sales person, therefore it is important for them to consider the likes and dislikes the consumers so that they can … Mostly, consumers select products with which they are familiar with. D : The importance of consumer behaviour to Marketers in 2015 The relationship between consumer behaviour and a marketing strategy was proposed by Donal Rogan (2007) as being ‘about increasing the probability and frequency of buyer behaviour. IMPACT OF ADVERTISEMENT ON BUYING BEHAVIOUR OF CONSUMERS IN SIVAKASI R. Sunderaraj Department of Commerce, Ayya Nadar Janaki Ammal College, India Abstract In today’s business world, marketing processes are based on the interaction between a business and the consumers. Anjum and Naheed (2015) found that there is positive and significant impact of television advertisement with the role of women on consumers’ buying behavior. Meet your target audience and find out what they expect from your product and brand on the whole. Marketing to an audience that you don’t truly understand will not get you very far; the only way to reach and connect with a customer, the only way to influence their purchasing decision is to understand their buying behaviour. Today’s scenario is full of, up-to-the-minute need of contemporary future, which is becoming technically an inevitable part of our life. Moreover, other questions like how, where and when they purchase it are also answered. Consumer behaviour has an important role in improving the standards of living of people. The situational factors such as urgency, functional use, fashion change etc. Commercials ought to give complete information to the consumers. TV advertisements have impact on their mind and the exposure to TV advertisements have not only enhanced their involvement in purchasing but has resulted in increasing their frequency of purchase. Advertisements meant for younger people (college goers, young professionals) ought to be colourful and trendy for them to be able to relate themselves with the product. Consumer behaviour focuses on dynamic nature of the market. Therefore, the markers design their products in such a way that the product gives maximum value or features to consumers at affordable price (Goessl, 2011). Do you have a 2:1 degree or higher? Consumer behavior is usually very complex because each one has a different attitude towards purchase, consumption and disposal of a product. This principle of making profits is heavily applied by almost all marketers. Advertisements are helpful in creating the awareness and perception among the … First and foremost, the insights you gain from studying and understanding consumer behavior will help you make informed choices about how to plan out your marketing strategy so that you reach your audience most efficiently. If you need assistance with writing your essay, our professional essay writing service is here to help! Study for free with our range of university lectures! There are some factors that need to be carefully analysed by the marketers which help them to increase their sales and develop effective marketing strategies. Stratified Sampling Method are used to get the sample size for … Role of Family in Shaping Consumer Behaviour … Understand the lifestyle of your target audience. Why It’s Important To Understand The Customer’s Buying Behaviour. Let’s check out a few points about why consumer behaviour is really important. The role of advertisement is to influence the consumer decision-making process and influence consumer … This means that advertisement does in fact affect the buying behaviour of consumers. What is Status Consumption and Why it is Important for Marketers ? Importance of Study Consumer Behaviour This behaviour of consumer is very complex and requires more importance by the marketers. Advertisements must be catchy and communicate relevant information to consumers. Some variables cannot be directly observed (Super Professeur, 2011). In such case, thorough understanding of concepts and theories of consumer behaviour helps marketers to predict the consumer’s buying behaviour to a reasonable extent. and intrinsic factors such as product style, durability, reliability, adaptability, replacement cost, colour, size etc. Prime time commercials are the ones which are viewed by maximum people. It impacts on consumer behavior. Lets us know the King first. We're here to answer any questions you have about our services. As there is constant change in the living standards, trend, fashion and change in technology; consumer’s attitude towards the purchase of product varies (Kumar, 2004). COVID-19 is a health and economic crisis that has a sustainable impact on consumer attitudes, behaviors and purchasing habits. 12. *You can also browse our support articles here >, theories and concepts of consumer behaviour, To understand Buying Behaviour of consumers, To create and retain customers though online stores, To Understand the factors influencing Consumer’s buying Behaviour, To understand the consumer’s decision to dispose a product or services, To increase the knowledge of sales person influence consumer to buy product, To help marketers to sale of product and create focused marketing strategies. The rational behavior of your consumer, therefore, needs to be the starting point of your research. It is really essential to show what the consumers like. This helps marketers to investigate and understand the way in which consumers behave so that they can position their products to specific group of people or targeted individuals. Importance of Consumer Behavior Studying and understanding consumer behavior allows brands and marketing specialists to identify what influences consumers and their decisions. This essay discusses the value to marketers of understanding the importance of, and applying consumer behaviour concepts and theories. Studying different consumer behaviour theories helps to understand the different choices that consumers make to buy a product. The sales people must be fully aware of the consumer’s behaviour in different situations so that they could help them in meeting their demands and satisfaction (Solomon, 2009). The advertisements ought to create the need among the consumers for them to buy the product. Among other factors, the basic needs like shelter and hunger along with craving for psychological fulfilment tends consumer to buy a certain product or services. Factors Influencing Consumer Behaviour 5. Consumer behavior is the series of behaviors or patterns that consumers follow before making a purchase. The influence of media on consumer behavior is profound. Many companies are now using the internet to carry out a lot of research on consumer behavior, including the consumer’s activity on the Web. Modern Philosophy: It concerns with modern marketing philosophy – identify consumers’ needs and satisfy them more effectively than competitors. Stand up a cross-functional command center with KPI tracking ; Create an Elastic Digital Workplace task force; … These factors are discussed as follows: Consumer’s rational behaviour: It is foremost important for a marketer to understand the situations where consumers behave rationally. Consumer behavior analysis helps: Identifying consumer pain points – mapping and explaining customers issues and difficulties with a brand, product, or service. What prompts your customer to go shopping in the first place, and what makes them shop at your location? It is the key to succeed. Importance of Consumer Behaviour to business managers The main purpose behind marketing a product is to satisfy demands and wants of the Consumers. Among the four independent variables however, we can see that Familiarity and Entertainment have the most significant impact. By understanding how consumers decide on a product it is possible for marketers to fill in the gap and identify which product is needed and which products are obsolete in the market. Consumer behaviour is a physiological process it is all related to the emotions of the consumer. Nowadays consumers are more value conscious and they want to extract the maximum benefits from a particular product of a brand. Below are some of the importance of consumer behaviour is given below: Manufacturing policies: The study of consumer behaviour affects the manufacturing policies of the organisation. The study of consumer behaviour helps to understand how the buying decision is made and how they look for a product. This includes scheduling, designing, pricing and positioning. It should, in a way give some kind of information about its price, benefits, usage, availability and so on. Thus, the marketer must carefully analyse these two situations of consumers before marketing a product or services (WiseGEEK, n.d.). Advertisement plays an important role in influencing consumers' decision making. Consumer Behaviour or the Buyer Behaviour is referred to the behaviour that is displayed by the individual while they are buying, consuming or disposing any particular product or services. Such advertisements have a mass impact as consumers change the way they purchase products, the politicians they root for in polls, their medicinal options, the toys they gift their children, etc. This study examined the impact of social media platforms and brand awareness in relation to the consumer decision-making and buying behavior patterns influenced by social media. A lean and inactive office going female drinking Women’s Horlics and thereafter beaming with energy and confidence would be the ideal concept for the advertisement. The consumption and the reasons behind disposition of that particular product or services help marketers to be fully aware of the product that is marketed. Choose the right theme for your advertisement. If you’re familiar with consumer behavior related to your Knowledge Commerce products, you can produce marketing copy that’s more effective. Because it is easier to sought peoples’ opinion using Questionnaire. Price of Products: Prices of products are a widely discussed factor in consumer behavior theories. Higher is the spending of a person, higher is the standard of living of a person. Byabato (2009).Factor influencing consumer purchase decision among Tanzanians Bin Junaid A. et al. In comparison to online advertisements, the general consensus amongst scholars about traditional methods of advertisements appears to be that there is some positive impact on consumer purchase behavior ranging from product learning, to a decrease in price sensitivity and an increase in actual purchases (Kumar and Raju, 2013). The following are some of the points discussed that explains the value to marketers of understanding and applying consumer behaviour concepts and theories. Theories of Consumption & Consumer Behaviour: Social, Economic, and Cultural Perspectives, Role of Consumer Behaviour in Advertising. Understanding customer behaviour could help a company to time its promotions, marketing and other advertising techniques. Importance of Consumer Behaviour; Image Source: Pixabay.com. ADVERTISEMENTS: Role or importance of study of consumer behaviour can be explained with reference to the points stated as under: 1. This is the fourth importance of consumer behaviour and it means that consumer behavior is very much vital in designing and approaching marketing mix to be chosen (product, price, place, and promotion). If the consumers are satisfied with the product, he or she will buy the same product again. A marketing manager must understand the social and psychological determinants of consumer behaviour to enable him to plan his marketing strategy. If the marketers failed to understand the factors that might influence consumers, they will fail to convince the consumer to purchase that product or will fail to meet the demands of consumers. Advertisement and consumer behavior have a strong relation. For example, two of the predecessor networks to the Internet, ARPANET and NSFNet, had "acceptable … If the marketer has complete knowledge about the consumer’s likings or disliking, then he can predict the response … The advertisement must show what the product is all about. Moreover, it also involves search for a product, evaluation of product where the consumer evaluate different features, purchase and consumption of product. The concept ‘consumer behaviour’ has been gaining importance since 1960. Advertisements must be catchy and communicate relevant information to consumers. By understanding how consumers decide on a product they can fill in the gap in the market and identify the products that are needed and the products that are obsolete. When consumers spend more on buying different products and services, their standard of living is improved. Buying Motives of Consumers 7. By understanding how consumers decide on a product they can fill in the gap in the market and identify the products that are needed and the products that are obsolete. Don’t try to confuse the consumers. Many studies in the past shows that each consumer behaves differently for a product i.e., they buy the product for different reasons, pays different prices, used the product differently and have different emotional attachments with the product (Solomon, 2009). Its flexibility regarding consume… This paper examines the relationship between environmental response and emotional response which are independent variables with dependent variable i.e. The product should be valuable, the price should be moderate, place distribution should be intensive and an appropriate. If you started a business, the only people who would know about it are friends and family. For example, if the consumers are aware of the health effects of eating high fat food or fast food, marketing of such a product to health conscious consumer will end up in failure. Advertising, public relation, sales promotion and personal selling are all essential parts of the promotional mix of a marketing plan. The study of consumer behaviours helps business manager, sales person and marketers in the following way. It starts when the consumer becomes aware of a need or desire for a product, then concludes with the purchase transaction. HISTORY In early days of the Internet, online advertising was mostly prohibited. Understand their psychologies well. The customers while buying a product goes through many steps. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Free resources to assist you with your university studies! No plagiarism, guaranteed! Thus, creating customer and the retaining those customers are important. Through advertisements, the company actually tries to win over the confidence of consumers who would not mind spending on their product. Looking for a flexible role? To understand the potential future problems and how to improve the current set of offerings. Such information on published sources arouse consumer to buy a product or service. Serious advertisements do not go very well with the youngsters. Consumer behavior - Marketing aptitude questions Q1. Moreover, if the consumers have more knowledge about the product than the sales person, the sales might fail to meet their targets. If the organization failed to analyse how a customer will respond to a particular product, the company will face losses. The aim of embarking on this study was to provide a well detailed account on the Influence of Advertisement on Consumer Behavior using Isiama Afara Community as the case study. Consumer Buying Behaviour 8. As consumers are the most important person for marketer or sales person, therefore it is important for them to consider the likes and dislikes the consumers so that they can provide them with the goods and services accordingly (Solomon, 2009). It is important for marketers to consider the factors that affect the buying behaviour of consumer before entering the market. Understanding the needs of the consumer is really important when it comes to creating the right advertisement for the right audience. Knowledge of consumer behaviour can help the marketer understand, predict, and control the consumption patterns and behaviour of people. All tobacco and alcohol commercials must show the warning message. To decide the price at which the consumers would be ready to buy that product or service. For example, the personal computers sold previously were largely demanded by consumers. It is important for them to know consumers as individual or groups opt for, purchase, consumer or dispose products and services and how they share their experience to satisfy their wants or needs (Solomon, 2009). A Horlics advertisement with a male model does not make sense as the target audience would never be able to connect with the product. Achievement of Goals: The […] The method of disposition varies transversely from product to product. Consumer behaviour deals with the knowledge of what the consumers need and want to buy and what goods and services are available to satisfy their needs. Consumer behaviour helps to segment a target market for advertising and other promotional activities. Istanbul Aydin University . The trend of using digital media platforms for advertisements is growing. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. The marketers need to pay attention to cultural influences such as religion, values and norms of the people or societies targeted and lifestyle of the targeted consumers. Make sure the message is relevant and crisp. Understanding the consumer’s behaviour about how and when consumers dispose a product, the marketers or the companies can position themselves so that this behaviour could be limited (Raghavan, 2010). A Tag Heuer, Omega, Mercedes, I phone advertisement ought to be classy for people to recognize these products as status symbols. The change in consumer’s behaviour affecting by these factors should be carefully monitored. The consumer plays a very important role in the demand and supply chain of every economic system of every nation. This is not an example of the work produced by our Essay Writing Service. Understanding their behaviour and buying pattern is important in ultimate survival of companies in the market place. Consumer behavior is usually very complex because each one has a different attitude towards purchase, consumption and disposal of a product. The time slot of commercials also needs to be taken care of. Understanding consumer behavior is important for all companies, especially before the launch of a product or service. This is the sixth importance of consumer behaviour and it means that the consumer preferences are diversified in nature and their keep on changing over a particular period of time. Disposal of product involves throwing away of products by the consumers (Solomon, 2009). In this paper we use Nielsen scanner panel data on four categories of consumer goods to examine how TV advertising and other marketing activities affect the demand curve facing a brand. Therefore, the product should be marketed by markers in such a way that convince customer to buy the product. If the marketers failed to understand these factors, they would not meet their targets. For example, if marketer is marketing a product which is Halal. The key to a successful marketing campaign lies in consumer behaviour. Advertisements for insurance plans, medical benefits, hospitals ought to be sensible as they convey much serious information and target a mature segment of individuals altogether. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. For this, some marketers track the follow up from the consumers so that they can gauge the reason behind failure of the product. Bridge the gap between a salesperson and a consumer. Importance of Consumer Behaviour to business managers. Moreover, these theories provides marketers with information on the consumer’s behaviour to spend money, likely causes that incline them to spend more money on a product, and these two information help to plan strategies that should be practiced by the marketers for successful marketing of a product (Goessl, 2011).
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