Sample Research Paper
This research paper discusses benefits of consumer behavior in marketing.
The study of consumer behaviour is applicable on day to day business in organizations. Consumer behaviour hypothesis equip managers with appropriate and precise deliverables to be able to target consumers. This is very crucial in marketing to influence buyers, which then impacts on the organization. Marketing strategies are founded on precise and/or implied beliefs about consumer buying behaviour.
Precise beliefs are postulations founded on the sound theories and studies and is more likely to be successful than the marketing decisions founded on implied beliefs. Sound consumer behaviour understanding is thus seen as a competitive advantage in developing marketing strategies (Deaton and Muellbaue 1980). For organizations to thrive in a competitive market, they must give to their consumers more value than their competitors. Customer value is the difference between all the advantages gotten from a total product and all the costs of achieving the advantages. The difference between the full advantages and the total costs of acquiring the advantages constitute consumer behaviour. Offering better consumer values necessitates the organization to work harder in anticipating and reacting to consumer needs than the competitors (Quester et al 2007). This is the real meaning of a successful marketing strategy. Proper acquaintance with consumer behaviour is the foundation for the marketing strategy development. The way consumers react to the marketing strategy determines whether the organization succeeds or fail. The reactions also determine the achievement of the buyers in satisfying their needs (Carlson et al 1994).
2. Literature Review
Market segmentation plays a key role in the development of marketing strategies based on consumer behaviour. A market segment has unique needs and any organization that focuses exclusively on the needs of a particular segment, is able to successfully meet the requirements of that segment better than an organization that tries to meet the needs of numerous segments. Market segmentation puts into account recognizing need sets that an organization is able or can be able to meet. Recognizing the need sets involves consumer research. The need sets are linked to buyers’ age and stage in lifecycle, sex, social status, and personality among other factors. Organizations that apply market segmentation focus on these variables. Grouping consumers with the analogous needs, makes it possible for the marketers to group the consumers in a single segment according to the features and the image of the product they are concerned about. Once consumers with analogous needs are recognized, their needs are depicted in terms of consumers’ demographics, media utilization and lifestyles (Deaton and Muellbaue 1980).
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