Concepts behind Consumers Behavior
Any marketing strategy and promotional appeal in a trading establishment or production networking is based on customers or consumers who enable the product development. Therefore, a strategy established to favor better consumer trends towards products is initiated through determining Consumers Behavior. By Consumers Behavior, the preferences, their purchasing patterns and their motives towards purchasing particular products are adjudged through survey or consumer purchasing history.
Consumers Behavior guide the business to improve products, effectively target particular groups of customers, improve the product value of the company according to the demands of the customers, enhance the goodwill of the company, employ effective marketing personnel to provide an effective network of advertisement and empower better marketing strategies for product development and create the need for the product among consumers.
Any business concern with a manufacturing unit will identify developments in the product based on market survey and implement any changes in the product with specifications garnered from the Consumers Behavior and current trends in the market.
Consumers are considered the sole deciders for several product features and enhancements which are incorporated after obtaining feedback from the consumers either through a market survey or through the purchasing trends of the consumers which projects their preference to those products. Therefore, consumers play major roles as information providers, end users and payers for the products. The enhanced role of the consumers provides better impact on the products.
Importance of Consumers Behavior in Academic Curriculum
Students of Business Management and Administration are required to understand the basic consumer rights as well as Consumers Behavior towards specific products in market, so that they learn the strategies and policies which should be decided by the business to enhance the quality of the product with reasonable and affordable pricing. The students should gain insight into the current trends in consumer preferences and marketing techniques to be adapted to enhance the purchasing inclination towards products based on the creation of need for such products. The students should learn the theoretical concepts of Consumers Behavior in order to apply them in practice in immediate future and also to safeguard the rights of the consumers by estimating the trend towards purchase of products and also to improve quality goods in the market. The measures taken towards deciphering the needs of the consumers through Consumers Behavior is vital for students to develop their marketing skills.
Difficulties Faced By Students While Solving The Consumers Behavior And Supply Assignment
The students find it cumbersome to assess the Consumers Behavior as it is highly unstable and shows considerable variation from product to product. This trend must first be carefully analyzed by the students and they should be well-versed in the behavior trends of consumers in purchasing consumer targeted goods and services. Knowledge on the negative Consumers Behavior will lead the students towards avoiding the adaptation of such changes in their product promotion strategies and also paves way for them to introspect and determine the types of modifications that would enhance positive trends which would be helpful in determining their capacity to promote products.
The students might be novice to the field of marketing and therefore analysis of trends in the sales and promotion of products based on Consumers Behavior should be discerned by the students before venturing upon reaching targets in sales and suggesting marketing choices.
It is a good trend it students evaluate the performance of a service or product by conducting Consumers Behavior trends as it will be difficult for them to embark on such evaluations without proper guidance from guides or tutors.
The products supplied to the consumers must not only satisfy their need, but create a demand for the product through instigating a purchasing trend for the same.
Few Important Topics Covered Under Consumers Behavior
Marketing and Personal Factors that determine Consumers Behavior trends and policies should be thoroughly understood and evaluated by the students before initiating a business concern in future. Therefore, inclusion of topics on Marketing and Personal Consumers Behavior Concepts have to be analyzed and information obtained by the students. In the school curriculum, factors influencing Consumers Behavior and Consumer Behavior Models are part of the strategies taught for advancing the skills of the students towards knowing the rights of the consumers as well as their behavior instincts in choosing products of their choice.
Consumers Behavior can target at the specific needs based on which the consumers purchase products which not only depends on the quality of the product and its durability but the imminent needs of the consumers. The customer makes an informed choice, so topics based on the psychological analysis of consumers also finds place under Consumers Behavior.
The marketing approaches which should be adapted by the school curriculum in Consumers Behavior should be of the latest trend and help the students pick up information on the happenings in the field.
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