Consumer Behavior (Marketing)

Running head : Consumer Behavior

Marketing

Customer Inserts His /Her Name

Customer Inserts Grade Course

Customer Inserts Tutor 's Name (Day , Month , Year

Consumer behavior is the studying of how the consumer makes their purchase decision . There are two types of consumers : personal and organizational . The personal consumers are the ones who purchase good or services for themselves or for friends or family . The organizational consumers are the profit making business , NGO , institutions , etc who buy products not for their personal use but rather for the efficient functioning of their

organizations . The marketers is very much interested in what the consumers buy and why

It is very essential for marketers to know about their consumers as they are the ones who buy their products or consumes their services and they need to study how they respond to the various stimuli 's present in the environment . Once the marketers know how the consumers respond they can better adjust their strategies to get the desired response which is more sales and profit for them . So by studying about the consumers psychology the marketer would have a better understanding about the consumers ' cognitive process and how they reason between different alternatives . Studying the behavior of people is easy said than done people are more complicated in nature . It would be a flaw to assume that they are rational beings . They respond rationally as well as emotionally , they do what they feel is rational and logical

Consumer behavior focuses on the marketing strategies that company 's use . The marketing concept has gotten a lot of recognition as it focuses on the need of the consumer , by making the commodities that the consumers wants rather than trying to sell what the produces makes stresses on the fact that to survive in the 21st century the companies has to make their consumers their number one priority or else they can 't exist in the market . Consumer are very unique and distinct from each other , for this reason it becomes vital to find points of similarity between them so that the marketers can segment that is divide the market into sub-sector with common need . The aim of this is to make it easier for the marketer to fulfill the need of this targeted sector . The bases of segmentation can be different like demographic , geographic , benefit hybrid , psychological , etc

Even these segmentation bases can be further bifurcated into different parts like the demographic segmentation can be sub divided into age sex , education , income , occupation , etc . Hence , it is up to the marketer to decide what type of segmentation is most appropriate for his target audience . He needs to find a link that is present in all of them . We all have the same biological need : the need for food , water , air , shelter love , etc is very strong within all of us . The other needs that we acquire as we grow up are shaped by our environment and culture and these needs are also the same for so many people...