What Must Marketeers Understand About Consumer Behaviour

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Question :
WHAT MUST MARKETERS UNDERSTAND ABOUT CONSUMER BEHAVIOUR
“The only way to know how customers view your business is to look at it through their eyes”, By CEO of TGI Fridays! Consumer behaviour examines the: Selection Processes and Psychological Processes, individuals go through when making purchases/reviewing their behaviour. It examines:

1. The influences that affect consumers, during, after and before purchasing products. 2. The processes consumers go through when making a purchase.

Once we can understand consumer behaviour we can,
* Be more direct in positioning our product
* Develop promotional materials.

Definition:
“Consumer behaviour examines the process and activities people engage in when -Selecting –Searching –Purchasing –Using –Evaluating –Disposing the product” Belch & Belch 2003

Understanding Customer Behaviour: Who? What? Where? When? How?

Some purchase decisions require long extensive decisions while some may be made on the spot. Marketers need to: Understand and Identify
Understand:
* Consumer behaviour
* Where consumers like to buy particular products
* What things have effect on consumers at point of purchase Identify:
* The needs of a customer
* How customers gather information on products
* How customers evaluate alternatives
* How customers make purchase decisions
Marketers need to understand the types of consumers.

Note: Consumers sleep In, Early-Age, Early-Morning, Late-Morning, Late. There is 6 types of consumers:
-Innovators –Early Adaptors –Early Majority –Late Majority and –Laggards

Innovators: Like new ideas, Well educated, Young and Confident, Financially Stronge.

Early Adopters: Leaders, Younger then other groups, above averaging in education Early Moderators: No risks take, Require Reassuring on Purchasing products. Abover average in – social status – education – income

Late Majority: Only adopt products because of Social/Enonomic...
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