The paper "External Factors of Consumer Decision-Making Process" is a good example of coursework on marketing. Understanding the products a customer purchased is not enough for most successful retailers. Most retailers need to understand the reasons behind the purchase. The study of consumer behavior objectives is to understand the complicated and ever-changing contemporary consumer. Understand the reasons behind customer decision to purchase and what motivates them, you can really capitalize on that information and use it as a guideline for increasing sales and upholding positive association with customers. Consumer behavior study has gained considerable recognition in the last few years.
The increasing number of retailers aims to perfect their relationship with customers. Consumer behavior can be described as the study of the individuals, groups and organization and the procedures they apply to purchase, make payment and use goods and services that satisfy their needs and wants (Best et al. , 2004). This area of research is continuing and ever-changing. Consumer behavior is not merely the exchange of cash for products (Solomon and Rabolt. , 2004). It is essential to comprehend that consumer behavior is not black and white but complicated and multidimensional. Customer behavior can be considered as going beyond the classical definition of consumer and bring commercial purchasers and their behaviors’ into the mix (Sheth et al. , 1999).
Customer behavior study comprises both their mental and physical activities. The customer is responsible for one or more roles in customer behavior: the purchasers, the payer and or the user of the products. The purchaser is responsible for choosing the product; the payer takes the role of financial negotiations while the user is the real consumer of the product or service (Sheth et al, 1999).
In most cases, the payer is the elder of the family, who happens to be the father mostly. A youthful unmarried adult is more likely to spend a lot of money purchasing a North Face Jacket compared to a family individual who prefers to spend less cash on individually oriented products. Consumer behavior is also the study of the consumption of the product or service. A consumption state can be described as when factors and characteristics non-consumer linked affect purchase decision (Solomon et al. , 2004).
The major application of consumer behavior study is a marketing strategy. This is based on implicit and explicit beliefs concerning consumer behavior. Understanding how clients make their decisions helps promoters and retailers to plan how to advertise and sell to their intended clients. Consumer Decision Making The consumer decision making procedure involves five main steps. The first step is referred to as problem recognition. This is when consumers identify problems to be solved or necessitate satisfaction (Sheth et al. 1999). Once these problems are solved or fulfilled, consumers can go back to their usual state of ease or normalcy.