Understanding Consumer Behavior
All types of individuals make up the consumer market and these people are buying products for themselves, their families, guests, relatives, co-workers and friends.
Consumer buying behavior needs to be looked at if you are planning on doing some marketing since you need to understand how consumers respond to marketing efforts that you may employ. When someone begins the buying process, five aspects go into play: recognition of need, the search for information, evaluation of products, purchase decision and post-purchase behavior.
A whole lot of factors can influence a consumer’s behavior. The most common factors that play a role in consumer behavior are age, sex, occupation, education level, personality and lifestyle.
There are also some strong psychological factors that determine consumer behavior. Motivation is a psychological factor that spurs us to act and to seek satisfaction. Perception helps us to select and interpret information so we can form a picture of the world. A person’s attitude also is a psychological factor that can play a great role in deciding what types of products and services to buy.
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