The paper "Applications of Consumer Behavior and Consumer Loyalty" is a brilliant example of a term paper on marketing. Consumer behavior refers to the study of how, when, why, and where individuals do or do not purchase a product. It is about understanding the decision making the process of the buyer, both personally and within groups. It involves the study of the consumer’ s aspect, for instance, demographics as well as behavioral variables in order to understand individuals’ wants. Relationship marketing is significant in understanding consumer behavior because it re-discovers the typical meaning of marketing by re-affirming the significance of the customers.
Marketing offers services that satisfy customers (Andrei & Bruno 1). Consumer behavior assists business firms and organizations to enhance their marketing strategies by understanding matters like: The psychology of how customers think, feel, make decisions, and choose between diverse options, for example, retailers, brands and also products. The psychology of how the environment influences the consumers, for example, friends, culture, media or signs. The consumers’ behavior when shopping or when making similar marketing resolutions. Restraints in consumer knowledge or how information processing abilities of the consumer affects their decisions and marketing effectiveness. How consumer incentives, as well as decision strategies, vary between products that vary within their level of magnitude or interest that they require for the consumers. How marketers can get accustomed to and improve their marketing strategies in order to reach consumers more efficiently (Lars 1-3). Applications of Consumer Behavior Basically, consumer behavior can be applied in four different ways.
The first application is for marketing strategy and here it is used in improving marketing campaigns. For instance, when marketers get to know that consumers are keener and more interested in food advertisements when they are hungry, marketers learn to schedule food adverts in the late afternoons.
By knowing that normally new products within market are at first adopted by small number of customers and spread later and then steadily to several customers, marketers learn that: organizations introducing new products in the market should have sufficient finances for them to stay afloat up to when their products become commercially successful and that it is essential to satisfy and please the first customers because if the initial customers are satisfied with their new product they will influence numerous succeeding consumers’ brand choices (Stuart 1). The other application is public policy.
To explain this application, I will use some acne medication that was introduced in the 1980s. An Accutane that was so effective in curing acne resulted in grave birth defects when taken by expectant women. Even if medical practitioners were told to caution their female patients, several women got pregnant while taking this medication.