Reasons for Studying Consumer Behaviour - Consumer Behaviour

Reasons for Studying Consumer Behaviour
The most important reason for studying consumer behaviour is the role that it plays in our lives. We spend a lot of time in shops and market places. We talk and discuss with friends about products and services and get lot of information from T.V. This influences our dailylives.

Why do we Study Consumer Behaviour ?

Consumer decisions are affected by their behaviour. Therefore, consumer behaviour is said to be an applied discipline. This leads to the microperspective and societal perspective.

Micro PerspectiveIt involves understanding consumer for the purpose of helping a firm or organization to achieve its objectives. All the Managers in different departments are keen to understand the consumer.

They may be Advertising Managers, Product Designers, Marketing and Sales Managers and so on.

Societal Perspective is on the macro level. Consumers collectively influenced Economic and social conditions within a society. Consumers strongly influence what will be product, what resources will be used and it affects our standard of living.

Management is the youngest of sciences and oldest of arts and consumer behaviour in management is a very young discipline. Various scholars and academicians concentrated on itat a much later stage. It was during the 1950s, that marketing concept developed, and thus theneed to study the behaviour of consumers was recognized. Marketing starts with the needs ofthe customer and ends with his satisfaction. When everything revolves round the customerthen the study of consumer behaviour becomes a necessity. It starts with buying of goods. Goods can be bought individually, or in groups. Goods can be bought under stress (to satisfy an immediate need), for comfort and luxury in small quantities or in bulk. For all this, exchange is required. This exchange is usually between the seller and the buyer. It can also be between consumers.

To understand the likes and dislikes of the consumer, extensive consumer research studies are being conducted. These researches try to find out:

  1. What the consumer thinks of the company’s products and those of its competitors?
  2. How can the product be improved in their opinion?
  3. How the customers use the product?
  4. What is the customer’s attitude towards the product and its advertizing?
  5. What is the role of the customer in his family?

The following key questions should be answered for consumer research. A market comes into existence because it fulfils the needs of the consumer. In this connection, a marketeer has to know the 70s framework for consumer research. Taking from an example of soap.

consumer research

Consumer behaviour is a complex, dynamic, multi-dimensional process, and all marketing decisions are based on assumptions about consumer behaviour. Marketing strategy is the game plan which the firms must adhere to, in order to outdo the competitor or the plans to achieve the desired objective. In formulating the marketing strategy, to sell the product effectively, cost-benefit analysis must be undertaken.

All rights reserved © 2020 Wisdom IT Services India Pvt. Ltd Protection Status

Consumer Behaviour Topics