The paper "Consumer Behavior-Internal Factors" is a great example of a Marketing Case Study. In the contemporary global market, the consumer is well-thought-out as the king. Therefore, the main motive of every marketer is to satisfy the customer by meeting their needs in a better way than their competitors. In a move to attract and retain their target customers, marketers have always to be in the fore front for any innovation and all the emerging trends. In the modern world, the consumer is the sole factor that controls the entire market.
Therefore, in order to survive the market, the consumer’ s behavior in diverse market settings should be examined. The consumer can be defined as an individual who buys goods and/or services for his consumption. Consumer behavior is a psychosomatic progression where the consumer decides to buy a good or service, comes up with a decision to buy, carry out the plan and lastly review the decision. Different internal, as well as external factors, influence, and control consumer behavior. The factors guide the consumer on whether to or not to buy a particular good or service.
The factors that affect consumer behavior may be economic, sociological or psychological factors. These factors have diverse influences on different consumers on the basis of their mind-set. The climax of consumer behavior is when the consumer takes up the purchase decision. The process of coming up with the decision on whether to buy or not comprises different stages that the consumer passes with the last one being the verdict on either to buy or reject a product. Consumers are an integral part of the economy.
Advertisers use a large number of dollars attempting to comprehend why individuals purchase goods and services. Occasionally it appears that there is no purpose behind a buy, yet actually there is dependably a reason. Numerous variables are included in a clients' purchasing choice, any of which can turn into the integral variable. Presently, the most difficult idea for advertisers is to recognize what buyers purchases and don't purchase and when and why they purchase a particular service or good. This customer buying choice related data is hard however important for advertisers as it helps the marketers in recognizing what is noteworthy to the purchaser.
The information also helps the marketers understand what impacts the consumer most when they are making the decision to buy. The data about customer conduct and their buying decisions impact advertisers in making their advertising projects or techniques in relation to the need of particular buyers. In this apprehension, the utmost considerable help for advertisers should be possible by experiencing the procedure of consumer behavior and recognizing particular external and internal impacts on customers. The procedure of buyer behavior is a theoretical model and it doesn't involve enough data that help in foreseeing particular consumer behaviors.
Then again, the consumer behavior process shows general convictions of customers that can be extremely useful for advertisers to plan their items and administrations as per distinguished convictions. 2.0 Five Steps in the Consumer Decision-Making Process 2.1 Problem recognition Problem recognition is the first stride of the buyer choice making process and happens when the consumer understands the distinction between what he or she sees to be the perfect or fancied state (the circumstance the purchaser needs to be in) of issues contrasted and the real express (the shopper's present position) of undertakings anytime (Duffy, 2003).
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