The paper "Changing Consumer Behavior" is a brilliant example of coursework on marketing. There have been several kinds of literature concerning the changing consumer behavior. The literature has offered diverse and dissimilar opinions concerning the way consumers react to what is offered in the market. What has further compounded the issue is the increasing globalization and competition emanating from diverse areas, which has resulted in the complications in predicting the buying habits of consumers, which results in better satisfaction. In order to understand diverse influencing factors on consumer purchasing and the way such can be utilized by organizations to benefit, I studied diverse literature, journals, and publications. The literature impacted immensely on my understanding of what actually constitutes consumer behavior.
Initially, my understanding was a narrow definition, was understanding the purchasing conduct of a customer. However, with the readings, I appreciate that consumer behavior is rather a process than an occurrence. Consumer behavior in my understanding is, therefore, a series of steps that work together and make the customer decide his purchasing habits. Moreover, consumer behavior is also viewed as the study of the intricate processes involving an individual or a group of persons ascribe to in selecting, purchasing, using or disposing of ideas, services, experiences or products in the quest of satisfying the needs and desires.
From the organizations’ perspective, consumer behavior involves the manipulation of the market mix with the objective of encouraging consumers to purchase the organization’ s brand. However consumer behavior is more complex, than can be defined by a simple definition, since it further encompasses several fields such as being an art or a science, while predicting consumer behaviors’ is further complicated by other factors such as the fact that understanding consumer behavior demands to look and thinking deeply, people differ and there exists massive range influencing consumer behavior at any given time. The readings have been instrumental in changing my perception on the purchasing behavior of the customers, initially, my thinking was that price is the most influential factor on the purchases made by customers.
However, I have appreciated that the purchasing habits of consumers are influenced by diverse factors that marketers have to understand in order to develop a marketing strategy that satisfies the customer, to enable them to seek the service and product again.
It is from understanding various theories, such as utility theory and customer value, where the customer considers the value of the product as the summation of the price component and the befit of the product. There is also the relatively new behaviorist approach where thoughts and feelings are taken to be the effects not causes, offering that the majority of the customer purchases are highly repetitive, low involvement decisions.