Consumer behaviour and marketing strategy. Consumer behavior and marketing strategy 2022-10-27

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Consumer behavior is the study of how individuals, groups, and organizations make decisions about the acquisition, consumption, and disposal of goods and services. This includes not only the purchase decision, but also the post-purchase evaluation and disposal of the product or service. Understanding consumer behavior is crucial for businesses as it helps them to develop marketing strategies that are tailored to their target audience.

There are several factors that influence consumer behavior. One of the most important is the consumer's motivation, which refers to the internal drives that stimulate people to take action. Consumers are motivated by a variety of things, including needs, wants, and desires. For example, a person may be motivated to purchase a new car because they need reliable transportation to get to work, while another person may be motivated to purchase a new dress because they want to feel fashionable and attractive.

Another factor that influences consumer behavior is perception. Perception refers to the way in which consumers interpret and make sense of the information they receive about products and services. Consumers use their past experiences, cultural background, and personal values to filter and interpret information about products and services. For example, a person who values eco-friendliness may be more likely to purchase environmentally-friendly products, even if they are more expensive.

In addition to motivation and perception, consumer behavior is also influenced by personal and psychological factors. Personal factors include characteristics such as age, gender, income, education, and family size. Psychological factors include personality, attitudes, and emotions. For example, a person with a high level of extroversion may be more likely to engage in social activities and make purchases in group settings, while a person with a high level of neuroticism may be more prone to anxiety and may be more careful in their purchasing decisions.

Marketing strategy refers to the actions a business takes to promote and sell its products or services to its target audience. A successful marketing strategy takes into account the target audience's needs, wants, and motivations, as well as the competition and the market environment. There are several approaches to developing a marketing strategy, including the 4Ps (product, price, promotion, and place), the STP (segmentation, targeting, and positioning) approach, and the 4C's (customer, cost, convenience, and communication) approach.

One key element of a marketing strategy is segmentation, which involves dividing the market into smaller groups of consumers with similar characteristics. This allows businesses to tailor their marketing efforts to specific segments, rather than trying to appeal to the entire market. For example, a company that sells athletic shoes may segment its market by age, gender, and type of athletic activity, and develop different marketing campaigns for each segment.

Another element of a marketing strategy is targeting, which involves choosing which segments to focus on. A business may choose to target a narrow segment of the market if it has a unique product or service that appeals to that segment, or it may target a broad segment if it has a more general product or service that appeals to a wide range of consumers.

Once a business has identified its target audience, it must position its product or service in a way that distinguishes it from the competition. This may involve highlighting the unique features or benefits of the product, or positioning it as the best value for the price.

In summary, consumer behavior and marketing strategy are closely linked. Understanding consumer behavior is crucial for businesses as it helps them to develop marketing strategies that are tailored to their target audience. Marketing strategy involves developing a plan to promote and sell products or services to a specific group of consumers, and involves segmentation, targeting, and positioning. By considering these factors, businesses can create effective marketing campaigns that are more likely to appeal to their target audience and achieve success in the marketplace.

What Is The Role Of Consumer Behavior In A Marketing Strategy?

consumer behaviour and marketing strategy

Product A marketer needs to design products or services that would satisfy the unsatisfied needs or wants of consumers. Studies have revealed that the women who take soft drinks especially soda tend to have a higher chance of kidney diseases Science Daily, 2009. It is for this reason that the market of Pepsi Raw can be segmented on this basis to ensure that the women reduce the chances of getting some of these diseases. What will be the consumer decision entail, and what will influence it? Developing new products is a common way for companies to stay ahead of the competition. The external influences can be used to identify the market segments of Pepsi Raw and eventually multimedia strategies can be used to advertise the drink. The decision making process normally involves several stages which include identifying the problem, gathering information about the product, gaining knowledge about the product, analyzing the environment among others Pride ; Ferrell, 2008. Identify insights into a consumer audience based on a conceptual model of social class.


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Consumer Behavior and Marketing Strategy

consumer behaviour and marketing strategy

Marketing to the right consumers is always important, but finding the psychology behind what drives your buyer to purchase your product is essential to your brand. The main objective of studying the behaviors of the consumers is to use the information to develop marketing strategies that will help attract and retain the consumers. Pepsi Co is a global manufacturing, distributing and marketing company that is involved in the food and beverage industry all over the world. Prediction of the Market Trend Trends can be predicted by understanding consumer needs and wants. It refers to some of the characteristics of the consumer that relate to how they communicate, their dressing, eating habits, values, beliefs and attitudes among others. For the different market segment that is defined by the different lifestyles of the consumers, the multimedia strategies that can be used to advertise the product would include the different forms of media.

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Consumer Behavior & Marketing Strategy

consumer behaviour and marketing strategy

Hersh has a consulting practice that provides market research and marketing strategy for large and small companies and start-ups. One commercial advertisement can be used to reach the different age groups of the consumers and not be discriminatory. It is usually influenced by internal and external factors. The product can be focused on these consumers to ensure that minimum resources are used in marketing and the company is able to achieve its marketing strategies. Before that, he worked as strategy director for Ammirati Puris Lintas Advertising and as an account planner at Mullen Advertising.


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Consumer Behavior and Marketing Strategy Online Course

consumer behaviour and marketing strategy

. These decisions influence the flow of returns to the company. But what makes online consumerism so appealing, and more importantly, what makes us click the checkout button? The marketer also has to decide about packaging, important aspects of service, warranties, conditions, and accessories. As noted above, this understanding is essential for developing an effective marketing strategy. The external influences included the gender of the consumers in the market, the different ages of the consumers, the social class of the potential consumers of the drink and the lifestyle that most of the consumers were likely to follow. The upper class society has the highest social standing and is more likely to consume the product rather than the other social classes.

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Consumer Behavior

consumer behaviour and marketing strategy

Consumer behaviors can be used to develop the marketing strategies suitable for the marketing of the product. Want to Reach More Buyers? Design a testing plan to evaluate the effectiveness of your marketing strategy. For instance, a customer buys a soap for the sole purpose of cleansing, it doesn't matter to him in the first place if it's a branded soap or a normal soap. They are motivated to buy something because they need or want it. This is known as retention of customers, and high customer satisfaction levels can result in increased sales, reduced marketing costs for repeat purchases, referrals from current users to new potential buyers, etc.


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How Does Consumer Behavior Affect my Marketing Strategy

consumer behaviour and marketing strategy

The choice and combination of the media strategies depend on their suitability and their effectiveness to reach the target market. What the consumers of the products in the industry think and perceive about the product directly contributes to the sales of the product. Consumer Behavior and Promotion Strategy. Should sales promotion be used and, if so, which ones and how should they be timed? Competition Competitors can gain an edge over a company by understanding and responding to consumer behavior before the company does. Marketing Memo: Drinks' Giant Pepsi is Getting 'Raw' and 'Natural' With its First New Cola Introduction in Over Ten Years. The attitudes of the consumers can be changed even though this is a difficult thing to do.

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(PDF) Consumer Behavior & Marketing Strategy

consumer behaviour and marketing strategy

Marketing activities that would exclusively target this people would include outdoor advertising methods during the different events that the targeted consumers are involved in. This paper discusses the consumer behavior and marketing strategies that can be used by Pepsi Co for the new Pepsi Raw drink. Consumer Behavior and Product Strategy. They could also be suffering from age related illnesses or have ailments that do not recommend the intake of other soft drinks in the market. How Behavior Is Driven by Social Influence, the Internet, and Data Examine marketing successes and failures using network mathematics. Consumers who are also dieting and trying to lose weight and those who are cautious about their weight are more likely to consume Pepsi Raw as it would not be detrimental to their bodies and their weight in general. Throughout, the course reveals how marketing analytics can be a powerful tool for inquiry and the development of marketing action.


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Consumer behavior and marketing strategy

consumer behaviour and marketing strategy

The Pepsi Raw consumers that are targeted to buy and consume the product may be influenced by various factors and motivated to buy the product for various reasons. . The concept of marketing advocates that in order to make and maximise their profit an organisation should satisfy their customers' needs. The different external influences that were discussed played a part in establishing the consumer target segments in the market. The social class is the hierarchical structure that is used to categorize people and stratify them depending on their characteristics and the social status. For example, many fashion companies create new lines of clothing based on the latest celebrity trends. The decision may however be influenced by various factors including the social environment and the marketing strategy used on the product.

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