Understanding consumer behavior is important for all companies, especially before the launch of a product or service. Advertisements play an essential role in creating an image of a product in the minds of consumers. Moreover, studying consumer behaviour helps in many aspects. Role of Consumer Behaviour in Advertising. 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). Moreover, the understanding consumer behaviour also helps marketers to know the what, where, when, how and why of the consumption of product consumption (Kumar, 2004). To find out the best method of promotion that will prove to be effective to attract customers to buy a product. Importance of Consumer Behaviour; Image Source: Pixabay.com. We're here to answer any questions you have about our services. 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. 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 behaviour helps organisation to plan and develop its products according to consumer need and preference. Brand Awareness . Some variables cannot be directly observed (Super Professeur, 2011). 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. Besides understanding consumer behaviour, the sales person should also have command over their spoken language. CPG companies can adapt to these changes by taking action to respond, reset and renew to be positioned even stronger for the future. 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. For example, if marketer is marketing a product which is Halal. Consumer Buying Behaviour 8. Understand the lifestyle of your target audience. Company Registration No: 4964706. Advertising also plays an important role in developing sales and market share. Importance of Consumer Behaviour to business managers The main purpose behind marketing a product is to satisfy demands and wants of the Consumers. Consumer behaviour helps to segment a target market for advertising and other promotional activities. and intrinsic factors such as product style, durability, reliability, adaptability, replacement cost, colour, size etc. (2013), “A Study on the Purchase Behavior and Cosmetic Consumption Pattern Among Young Females in Delhi and NCR”, … This means that advertisement does in fact affect the buying behaviour of consumers. The advertisement must show what the product is all about. We can alter the way we sell our products depending on … Professor Theodore Levitt says that consumer behaviour is of most importance to marketers in business studies as the main aim is to create and retain customers (Kumar, 2004). Consumer behavior is usually very complex because each one has a different attitude towards purchase, consumption and disposal of a product. Knowledge of consumer behaviour can help the marketer understand, predict, and control the consumption patterns and behaviour of people. Marketers need to understand the buying behaviour of consumers while designing their advertisements for the desired impact. Consumer’s knowledge about a product: The marketer must know to what extent the consumers have knowledge about a product. Consumer behavior analysis helps: Identifying consumer pain points – mapping and explaining customers issues and difficulties with a brand, product, or service. Understanding these factors is of utmost importance because the marketing of products is largely dependent on these factors. The influence of media on consumer behavior is profound. In a competitive market, it is important for advertising managers to grab consumers’ attention through advertisements and sales promotion. Consumer behaviour is indispensable to watch movements of the markets. 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. This paper examines the relationship between environmental response and emotional response which are independent variables with dependent variable i.e. Advertisements play an essential role in creating an image of a product in the minds of consumers. Advertising has been considered as a popular management tool for dealing with the … Overload of information nullifies the effect and the advertisement might go unnoticed. These can be done through understanding and paying close attention towards the consumer’s behaviour while making purchase decision or buying a product in market place. Bridge the gap between a salesperson and a consumer. 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). Importance of Consumer Behaviour to business managers. Consumers perceive Women Horlics as a health and energy drink which is a must for all working women as well as expecting mothers for their overall well -being. The concept ‘consumer behaviour’ has been gaining importance since 1960. The study of consumer behaviour helps them in analysing different factors that has influence on the buying decision of the consumers. 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! It is important for sales person to be fully aware of the customer’s requirement so that he or she could clearly communicate the benefits of the product to the customers. The findings help businesses figure out the most appealing product attributes, best sales promotions, the right price, the optimal market conditions, and the best places in which to sell. Importance of Consumer Behavior It is essential for the marketer to study the behavior of the consumers in order to make better strategic marketing decisions. Understanding customer behaviour could help a company to time its promotions, marketing and other advertising techniques. Importance Of Consumer Behaviour Consumer behaviour is very important to understand what influences the buying decisions of the consumers and why does it so. This is because consumers go mostly for products that are of low price but satisfies their demand (Open Learning World, 2011). Impact of promotions on consumer behavior. For example, two of the predecessor networks to the Internet, ARPANET and NSFNet, had "acceptable … Studying consumer behavior is important because this way marketers can understand what influences consumers’ buying decisions. Thus, consumer behaviour deals with particularly with the behaviour of people i.e., consumers. The more careful analysis helps in more exact prediction about the behaviour of consumers of any product or services. 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). 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. Features of Product: Increased number of features offered by the product tends to increase the price of products. It also depicts how companies can effectively make use of social media platforms as marketing strategy tools in business performances. 13th Nov 2020 To develop your own knowledge of marketing theories, models and external marketing analysis, take a look at these free marketing guides. Importance of Study Consumer Behaviour Among the four independent variables however, we can see that Familiarity and Entertainment have the most significant impact. It is the key to succeed. Istanbul Aydin University . The amount companies spend on advertising is amazing. It starts when the consumer becomes aware of a need or desire for a product, then concludes with the purchase transaction. This is because any miscommunication could harm brand reputation. 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. Later the post purchase behaviour of product is studied which shows the consumer satisfaction or dissatisfaction where it involves disposal of product (Solomon, 2009). Consumer behavior - Marketing aptitude questions Q1. The marketers can propose different strategies that convince the targeted consumers to buy marketed products or services. Understanding these factors helps marketers to market the product on right time to the right consumers. What is Status Consumption and Why it is Important for Marketers ? The main purpose behind marketing a product is to satisfy demands and wants of the Consumers. Understanding consumer behaviour is important for any organization before launching a product. Why It’s Important To Understand The Customer’s Buying Behaviour. What is the Importance of consumer buying behavior? Moreover, the marketers should be ascertain the factors that influence and affects purchase decision of consumers (Solomon, 2009). Looking for a flexible role? Role of Family in Shaping Consumer Behaviour … It should, in a way give some kind of information about its price, benefits, usage, availability and so on. “Consumer behavior is of most importance to marketers in business studies as the main aim is to create and retain customers” says Professor Theodore Levitt (Kumar, 2004). 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. The study of consumer behaviour helps marketers to recognize and forecast the purchase behaviour of the consumers while they are purchasing a product. Moreover, updating such information will help the consumer to retain to a product or re try the product if the product has dissatisfied them (Solomon, 2009). Remember it is only through advertisements; individuals are able to connect with your brand. To design the best possible product or service that fully satisfies consumer’s needs and demands. If the marketer has complete knowledge about the consumer’s likings or disliking, then he can predict the response … 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 … Marketing 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. Moreover, it also involves search for a product, evaluation of product where the consumer evaluate different features, purchase and consumption of product. The psychological characteristics include attitude, mood, emotion, social class, social conscience, perception etc. Do you have a 2:1 degree or higher? However, on the other hand, the consumers having limited money spend all their money on purchase of their basic needs such as shelter, food and clothing. Respond . The theories suggest that marketers should keep their prices low without affecting the quality to attract consumers. Prime time commercials are the ones which are viewed by maximum people. Marketers need to understand the buying behaviour of consumers while designing their advertisements for the desired impact. ADVERTISEMENTS: In this article we will discuss about Consumer Behaviour: 1. This study intends to explore the importance of various media advertisements on consumer behaviour (CB) stages … You can view samples of our professional work here. We define consumer behavior as the actions a consumer takes before, during, and after buying a product. consumer buying behavior. Put your product next to dozens of others and with the right packaging, advertising, and placement, it’s going to be the one consumers choose every single time. A STUDY ON THE INFLUENCES OF ADVERTISEMENT ON CONSUMER BUYING BEHAVIOR Tashrifa Haider, Independent University Dhaka Shadman Shakib, Masters Independent University ABSTRACT Purpose–This paper aims to examine the impact of advertisements on consumer buying behavior by analyzing the real-time effects of entertainment, familiarity, advertisement spending, and social imaging in advertisement … Meaning and Definition: Consumer behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. A company registered in England and Wales and behaviour of consumer behaviour – the consumer becomes of... A product this is not just important to attract consumers House, Cross Street, Arnold, Nottingham,,! 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