We are unable to understand clearly how to consumer behaviour at the market,because it is very complex in the modern world .But if we study step by step it will easy task to understand.
What is consumer behaviour?
This consists of all activities about customer decision making easily Otherwise, consumer behavior is a study of individuals,groups, or organizations on how to select, buying, use and remove their goods and services. It changes from customer to customer. Therefore, this is a lot of important , because it helps to understand customer’s needs then the producer can supply the most applicable goods and services.
According to Engel, Blackwell, and Mansard ”consumer buying behavior refers to the study of consumer and how they behavior while deciding to buy a product and that satisfies their needs”.However, it is mainly caring about psychology, motivation, and behavior.
Type of consumer behaviour.
The behavior that consumers display when purchasing goods varies from product to product. Customers have to take a risk when selecting their wants. That is the reason to start various consumer behavior. For instance, anyone has to more attempt to select a vehicle than bread. To change purchasing patterns affect several factors. The nature of risk , value, and time are example for this .according to that, there are four kinds of consumer behavior in the world.
1.Complex buying behaviour.
This is rarely turn out while the customer is more mediation for that. Customer is closely related to purchasing and trade-names have considerable difference then this behavior would begin.Vehicle and furniture buying clearly example for this behavior.
2.Dissonance reduce buying behaviour.
This is rarely purchasing, which is low attention to trade-name. Not only that, the customer always focuses on their needs and the price of goods. These have more attention and high price than other goods. In this situation, the producer should be understood what is consumer,s needs, and how to satisfy those. It is very important for business, which depends on the business world. Moreover, the producer can supply a special discount to the consumer, it also affects build a loyal customer.
3.Habitual buying behaviour.
In this pattern, we can introduce, goods of everyday needs are purchase by the consumer. So we are unable to see brand loyalty in this situation. Most of the selections are quick decisions and those are provided by radio and television. If producers use a lot of promotion ways they will be able to increase their profit. Condiments and biscuits are example for this.
4. Variety seeking buying behaviour.
Some unsatisfying situation about selection is the reason for build this behavior. Otherwise, variety-seeking behavior begins with unsatisfactory needs. The customer often shifts among brand loyalty in this situation. For example dairy.
There are various factors that affect this. Such as price level, media effect, and consumer taste. Always promote the discount, and use a lot of substitute products in the shop are very important as a competitive trader.
Different factors affect to consumer behaviour.
- Personal factors-gender,age,education,income level and sexual..etc
- Psychology factors-consumer motivation,motives,media effect..etc
- marketing factors-price,attraction of consumer,warranty..etc
- Social factors-social status,imprecation,size of household..etc
- Situation factors-quality factors,physical environment,time factor in purchasing..etc
- Culture factors-social class,caste and sub castes..etc
- Legal factor-rules,government order,speed limits(some vehicle)..etc
How to identify consumer behaviour
Businessmen understand their consumer.which is very important to their decisions. They can produce goods and services to satisfy customer’s owns. If the producer can face competition successfully they will be able to increase their benefits.
Therefore, the businessman must understand consumer behavior, because it depends on their success. Producers will be able to get various actions for that.such as they can study consumer behavior patterns, customer beliefs, and consumerism.
Importance of consumer behaviour.
Goods and services are produced to satisfy customer needs. If current goods and services would fail to satisfy customer needs they will reject goods or they will shift from product to product, like a substitute. Therefore, this is very important.
- Competition- There is competition in the market. So, very difficult to enter a new business in the market and current business difficult to depend. Insomuch consumer behavior study is the most important to face competition.
- Maximum profit-, the producer should increase sales volume To maximize profits while producers will be able to go their goals.
- Customer loyalty-every business needs the loyalty of customers. Customer loyalty will build when satisfy Customer wants. So, it is very important to build customer loyalty.
- Making decision-it is the most important to operate the business successfully. Customer needs are always changing and producers have to identify those needs and supply.
- To determine the price-the price of a product is determined by the supply and demand of goods.
- .Identify market opportunities-these is very important for business because it helps to understand the new trend in the market.
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