Relevance of the Study and Knowledge of the Consumer Behavior to Marketing Strategists

Topics: Marketing, Marketing strategy, Need Pages: 3 (871 words) Published: May 23, 2012
’’Consumer behavior is the bedrock of marketing from the perspective of this statement, explain the relevance of the study and knowledge of the consumer behavior to marketing strategists. Consumer behavior has been said to consist much more than the mere use of goals and services marketed by profit-seeking companies and individuals; nor that is it restricted to the actual act of consumption; that it is restricted to individual consumer. However consumer Behavior can be defined as the action a person takes in purchasing and using products and services including the mental and social processes that preceeds and follow those actions (Erin N. Berkourtz, Roger A. Kerinand Williams Ruddius). Consumer Behaviour has also been variously defined by different scholars. It can be defined as the mental and emotional process and the physical activities that people engage in when they select, purchase, use or dispose of products and services to satisfy particular need and desire. (Bearden et al 2007). An understanding of consumer behavior helps to answer question as to why people choose one product or brand over another, how they make these choices and how companies can use this knowledge to market more effectively to consumers. The essence of marketing is to satisfy consumers’ needs and wants through exchange process; marketers and marketing strategists therefore must clearly understand those needs and wants. The study and knowledge of consumer Behavior provides relevant information needed for development appropriate strategies and tactics. Marketing strategies are about understanding, influencing, changing and re-information the behaviour of consumers. The study and knowledge of consumer behaviour and needs gives marketing managers relevant information they need to increase the chances of success in the market. The availability of mass markets means huge profit opportunity for those marketers who could successfully develop products that capable of satisfying consumer’s needs...
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