Importance of Consumber Behaviour to Marketers in Making Marketing Strategy
Maria Genevive Louise S. Reyes
IGE0336 – 2nd Year College BSBA Major in Marketing Management
Prof. Roll Henson – Dado
6/22/13
TOPIC: Importance of Consumer Behaviour to Marketers in Making Marketing Strategy
A marketing strategy are tactics or ways that a business used in able to deliver products that satisfy customers.
Consumer Behaviour is the study of buying behaviour of the consumers or it represents the study of consumers action, reactions, and consequences that take place as they go through a decision-making process, reaches a decision and then puts the product to use. In other words it also study people’s needs, wants, what they seek from the product and how consumers perceived the product compared to the competitor’s products. This things helped marketers to make marketing strategy by:
* Knowing the needs and wants of the consumers, marketers can divide the consumers into segments and make a unique product for each segment that will surely satisfy each of the individual.
* Since marketers know how consumers perceived their products compared to the competitor’s product. Marketers can see the offering of the competitor’s product compare it and make a marketing strategy that would make consumers benefit more from their product than the competitor’s product.
* Also comparing the products price of the competitor to your company is important, because of the economic downturn consumers are now more cautious in consuming. So consumers would prefer products that bring more benefit to them and that is more cheaper. Marketers can make a marketing strategy to make their product lower their price or to make it cheaper.
* Since consumer behaviour also studies the decision-making process that leads to the purchasing of the product, marketers can analyze the reason what made up the decision of the consumers to buy that particular product and use that as an advantage of the company. Marketers can think of a marketing strategy to innovate the product
IGE0336 – 2nd Year College BSBA Major in Marketing Management
Prof. Roll Henson – Dado
6/22/13
TOPIC: Importance of Consumer Behaviour to Marketers in Making Marketing Strategy
A marketing strategy are tactics or ways that a business used in able to deliver products that satisfy customers.
Consumer Behaviour is the study of buying behaviour of the consumers or it represents the study of consumers action, reactions, and consequences that take place as they go through a decision-making process, reaches a decision and then puts the product to use. In other words it also study people’s needs, wants, what they seek from the product and how consumers perceived the product compared to the competitor’s products. This things helped marketers to make marketing strategy by:
* Knowing the needs and wants of the consumers, marketers can divide the consumers into segments and make a unique product for each segment that will surely satisfy each of the individual.
* Since marketers know how consumers perceived their products compared to the competitor’s product. Marketers can see the offering of the competitor’s product compare it and make a marketing strategy that would make consumers benefit more from their product than the competitor’s product.
* Also comparing the products price of the competitor to your company is important, because of the economic downturn consumers are now more cautious in consuming. So consumers would prefer products that bring more benefit to them and that is more cheaper. Marketers can make a marketing strategy to make their product lower their price or to make it cheaper.
* Since consumer behaviour also studies the decision-making process that leads to the purchasing of the product, marketers can analyze the reason what made up the decision of the consumers to buy that particular product and use that as an advantage of the company. Marketers can think of a marketing strategy to innovate the product