What-Is-Consumer-Behavior-in-Marketing_-Factors-Model-Definition-Video-Lesson-Transcript-_-Study.com

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What Is Consumer Behavior in Marketing? - Factors, Model &De±nitionInstructorTara Scho±eldView bioExpert ContributorSteven ScaliaView bioConsumer behavior plays a signi±cant role in achieving e²ective and e³cient marketing. Learn the de±nitionof consumer behavior in marketing, the three factors a²ecting consumer behavior, and its impact onmarketing.What is Consumer Behavior in Marketing?Marketing is so much more than creating a catchy phrase or a jingle people will sing for days.Understanding consumer behavior is a vital aspect of marketing.Consumer behavioris thestudy of how people make decisions about what they buy, want, need, or act in regards to aproduct, service, or company. It is critical to understand consumer behavior to know howpotential customers will respond to a new product or service. It also helps companies identifyopportunities that are not currently met.A recent example of a change in consumer behavior is the eating habits of consumers thatdramatically increased the demand for gluten-free (GF) products. The companies thatmonitored the change in eating patterns of consumers created GF products to ±ll a void in themarketplace. However, many companies did not monitor consumer behavior and were leftbehind in releasing GF products. Understanding consumer behavior allowed the pro-activecompanies to increase their market share by anticipating the shift in consumer wants.The Three FactorsTo fully understand how consumer behavior a²ects marketing, it's vital to understand the threefactors that a²ect consumer behavior: psychological, personal, and social.Psychological Factors
In daily life, consumers are being a²ected by many issues that are unique to their thoughtprocess. Psychological factors can include perception of a need or situation, the person's abilityto learn or understand information, and an individual's attitude. Each person will respond to amarketing message based on their perceptions and attitudes. Therefore, marketers must takethese psychological factors into account when creating campaigns, ensuring that their campaignwill appeal to their target audience.Personal FactorsPersonal factors are characteristics that are speci±c to a person and may not relate to otherpeople within the same group. These characteristics may include how a person makesdecisions, their unique habits and interests, and opinions. When considering personal factors,decisions are also in´uenced by age, gender, background, culture, and other personal issues.

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Term
Spring
Professor
professor_unknown
Tags
Business, Marketing,

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