The paper "Incident Command System " is a perfect example of marketing coursework. Every business entity aims at achieving higher profitability. However, their efforts depend on the sales of goods and services. The consumer is the core point of transaction in any business entity. Managers should, therefore, design a way to improve customer relationship. Customer relationship helps enhances customer satisfaction. Consumers have varying needs, it is essential to understand consumer buying decisions. Consumers aim at maximizing their utility. They choose from a bundle which best satisfy them when subjected to his budget line.
The consumer decision-making process involves the following steps; Need recognition, information search, and evaluation of alternatives, purchase decision and post-purchase decision. The consumer is motivated by many factors. This can be classified as external or internal factors. Internal factors are factors inside the human being which motivates one to buy goods and services. These factors are normally psychological in nature. They include motivation, learning, perception, attitude etc. On the other hand, external factors are found outside the human body. They include the environment, peer groups etc. Consumer behavior needs to be monitored closely by managers to determine to change needs.
This is only possible when organizations derive effective marketing strategies to market their products to the public. They should practice market segmentation, market positioning and market share. This ensures that products are well developed. INTRODUCTION Consumer behavior refers to the study of how consumers behave during a transaction. Consumers aim at maximizing their utility by choosing from a bundle of goods and services that best suit their budget line. In this case, we may choose a company such as Coca Cola Company.
They manufacture Coke as their major product. Coke is a refreshment product used globally by many consumers. Coca Cola Company is an American corporation which produces non-alcoholic beverages. It was founded in 1886 and it is best known for the manufacture of Coca Cola soft drinks. It sells various brands to consumers in different parts of the world. However, Coca Cola Company has created a better network of customers for its product in the market. How then do they achieve higher profits? Coca Cola Company produces Coca Cola as its major product.
It concentrates its efforts in developing effective marketing strategies that aim to market their products. Consumers will never know what an organization sells until when they are informed. This brings in Marketing. However, consumer behaviors should be understood by the Coca Cola marketing team. They should effectively know the changing demands of customers. Customer demands changes rapidly with the changing world. Customers need different products today and others tomorrow. Coca Cola Company adopts various ways of product development to achieve its objectives. Marketers should understand consumer buying decisions.
Understanding consumer decision making when buying products helps to predict future needs of customers. Markets are competitive in nature, many organizations compete for resources, customers and market share. Effective marketing strategies should be adopted by marketers. Markets should be divides into smaller segments to enhance specialization of products and services. Products should be (Atlanta, 2011developed according to market niches. Furthermore, marketers should understand the factors that affect consumers. They should design their products to best suit those consumer needs.
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