Marketing and Consumer Behaviour – Dealing with Market Trends
Consumer behavior is defined as the mental and emotional process along with the physical activities of the people who purchase/ consume goods and services to satisfy their particular needs and wants.
One of the advantages of consumer behavior can be seen when looking at advertisers and how they advertise by keeping the consumers in mind. Advertisers spend a lot of money to keep individuals and groups of individuals (markets) interested in their products. To succeed, they need to understand what makes potential customers behave the way they do.
The advertiser's goal is to get enough relevant market data to develop accurate profiles of buyers that is basically to find the common ground and symbols for communication. This involves the study of consumer behavior: the mental and emotional process and the physical activities of the people who purchase and use goods and services to satisfy particular needs and wants. Along side the behavior of organizational buyers (the people who purchase the products and services for use in business and government).
The primary mission of advertising is to reach prospective customers and influence their awareness, attitudes and buying behavior. This can be done successfully only through knowing the consumer preferences, behavior towards various stimuli i.e. consumer behavior. Consumer behaviour is such a thing which depicts consumer's attitude towards a product. It shows consumer's likeness or dis likeness towards the product. Consumer behaviour plays a very important role in the success or failure of a product. If a consumer is satisfied from the product then his behaviour would be positive towards the product and if he is not satisfied from the product then his behaviour would be negative towards the product. A company's success largely depends upon the consumer's positive behaviour. Today's consumer is very well aware about the products available in...