Table of Contents
The theories of consumer decision-making process presuppose that a consumer's decision to purchase process involves steps by which the buyer passes in buying a commodity. Though, this must not be the case. Not all consumer pass through all the stages when deciding to buy. Otherwise, some of the stages can be assumed depending on the sort of purchases.
The main purpose for the learning of consumer's helps organizations and firms. Get better of their marketing strategies by considering cases such as: The psychology of how customers believe, feel, reason, and choose among different alternatives, how the customer is subjected by her or his environment, and the behavior of clients when buying or making other marketing decisions. Precincts in consumer information or information processing capabilities influence decision and market result, how consumers' decision strategies and motivation vary between commodities that vary in their height of interest or importance that they involve for the customer. Finally, marketers adjust and get better their marketing strategies and marketing campaigns to efficiently reach the buyer.
The psychologist Maslow came up with a hypothesis dealing with the pecking order of human needs. Marketing is not essential to human survival; hence your services may not be either. Though, whatsoever you are presenting, will belong into one of the categories Maslow has discussed in his hierarchy of wants. Therefore it is easy to market to your prospects if you know the need you are dealing with.
Level one on Maslow's hierarchy deals with physiological wants. These are mainly the basic requirements that dictate human survive. They include food, water, shelter, and oxygen. All along with sleep, activity and other unavoidable human being functions. If your product or service appeals to basic needs, your main predicament is persuading customers to purchase from you in place of your competitor. Each one needs food, so why should customers be willing to purchase lunch at your caf‚ instead of another? Maybe you have fair prices, improved quality, quicker service, or a much relaxed environment than the other has.
The next stage deals with security and safety. How would the use of your product instigate feelings of safety and stability in your customers? Pressure these factors as your main points. The third aspect is the love and belonging stair. We all feel the craving to be nearer to our family, to have more associates, or to find a noteworthy other being. responding to these needs is helpful if we are in a business field. Talk to your customers about the great satisfaction they will have if they try your products, and use suggestions from clientele's past. Listening to great outcomes from former customers is a big way to find fresh buyers. Maslow's subsequent area of wants deals with esteem. One region of esteem demands calls for acknowledgment from others, rank, notice, and appreciation. The other hits closer to the self, involving self respect, self-assurance, capability, sovereignty and accomplishment.
The final tier of Maslow's hierarchy is self actualization. "Be all that you can be" is the slogan applied here this is plea to the actualization of needs. Approaching people at this stage entails appealing to them to live up to their full potential as an industrious, motivated member of community. Responding to the needs of your clientele can be a huge way to clutch the concentration of your clients, as long as you keep in mind to be accountable about it. You never know inculcating psychology into your advertising arrangement could be such an immense means to grip clients?
The lesson about consumer behavior lays interest on how persons make individual decisions to spend their available monetary resources on consumption-related items. Consumer behavior entails a number of things. It can be discussed as the processes involved when people in the market use, buy, discriminate or give away off commodities, experiences or thought, to please their desires in life and needs. (Welker, 2007).
One definition of consumer behavior given is 'activities an individual engages in whn selecting, purchasing, evaluating, and doing away with other commodities so as to please their wants and desires'. behaviors occur either for an individual, group or an entire market or locality. Consumer behavior entails the use and disposal of commodities as well also the study of how they are acquired. Product use is often of great consideration to the marketer, since this may manipulate how a product is positioned or how we can promote increase in consumption.
Influencing values to Consumer Choice Behavior
The functional value of an alternative is stated as the apparent efficacy acquired from an alternative for utilization, functional, or physical performance. An alternative receives purpose value by the possession of salient physical, utilitarian, or functional attributes. Functional value is measured on a side view of choice attribute.
Contemporary functional value is assumed to be the main driver of consumer choice. This supposition underlies economic utility theory as provided by Welker (1999) and Bradley (2007). An alternative's functional value may be derived from its attributes such as durability, reliability and price. For instance, the decision to buy a particular machine may be based on fuel consumption and maintenance record.
By evaluating the main function of a product (what benefits it provides) marketers can highlight these benefits in their packaging and communication. Advertisement relevant to the function prompts more positive thoughts about what marketed and can consequence in heightened preference for the product, (Marder, 2007).
Marder (1997) made the functional theory of attitudes. Which he calls the Utilitarian function. This function is linked to the fundamental principles of return and chastisement. We develop some of our approach toward products depending on whether these products constitute comfort or un pleasantness. Value-expressive. Attitude that makes a value-expressive function presents the consumers' innermost values or self-concept. An individual develops a product falling not because of benefits, because of what the product presents about her or him as an individual.
Ego-defensive function comprises of attitude developed to protect an individual, either from threats or feelings, do an ego-defensive function. Instance of this function is deodorant campaigns that strain the complete consequences of being caught with an odor.
In addition, Knowledge function may refer to the attitude that may be formed because of a want for order, meaning or structure. This want is present when an individual is in an uncertain situation or is subjected to a new commodity.
Social value can be defined as the perceived utility gained from a choice in relation to one or more groups. An alternative acquires social value by union with negative or positive stereotype social, economic and demographic ethnic associations. Social value is determined by choice imagery.
Social imagery defines relevant secondary and primary reference groups that are most probably to be supportive of the commodity in consumption. Customers acquire negative or positive stereotypes based on demographic factors like religion, sex, age, occupation, lifestyle and/or segments of political ideologies.
Choices constituting highly sensitive products and service to be shared are often guided by social values. For instance, a specific make of machine is chosen more for the social image it passes than for its performance. Products that are generally thought to be functional or utilitarian are often chosen based on their social values.
This can be defined as noticeable satisfaction gotten from a choice's capacity to arouse affective state or feelings a choice acquires value emotionally when linked with feelings of a particular nature or when experiencing the feelings. Such feelings related to emotions can be determined by evaluating the profile of feelings linked to the choice "(Kotler, 2007, pp 161)
Consumption emotion deals with the set of poignant responses constructed especiallyy in event of product usage or expenditure experience, outlined either by the unique categories or due experiences emotionally. Structural extent forming the basis of emotional categories. Commodities are regularly associated with emotional responses Emotional charge is often associated with aesthetic alternatives though, tangible and utilitarian products have emotional values. Numerous attempts have been constructed to evaluate a range of emotions that people show. Taxonomy of affective experience describes the fundamental emotion that people feel. In this case emotions are measured using a number of categories which are considered to be, surprise, sadness, disgust, hunger, fear, contempt, guilt and shame. This approach is used in most cases by buyer. (Bradley 2007).
Let's take the market conditions in Georgia as our epitome of study. Though Georgia is not as all the rage as Florida for retreat, it has a lot to present seniors searching for independent living, assisted living, and other senior living preferences. People prefer Georgia as a retirement home for many reasons. The fairly modest temperatures and high clamminess are unproblematic on older bodies. The lack of snowstorm makes it easy to drive round the year. Though the passage is very bad in denser places, older people can avoid the traffic times and get way in to the whole state with little hassle (Kotler, 2007).
From Inman to Peachtree city Park part, there exists a rising tendency around Georgia for perambulator and hiking trails. Because walking is the most popular senior sporty activity, there exists a range of neighborhoods that are intended for seniors. It also has plenty of both private and public golf courses. Golf continues to be one of the finest impacts less athletic activities for elderly people. Yet another large selling spot for Georgia is contact to the entertainment and arts. It has several winning athletic teams that make it an outstanding place to view a sporting occasions. Many of the bigger cities have a momentous district which is superb for our relaxing and finding a good food. All these activities make Georgia a beautiful place for the elderly searching for autonomous living and retirement communities.
Assumptions and objectives are what trigger the partakers, and policy and capabilities are what the competitor is capable of doing or doing. Information about a competitor's goals enhances a better estimate of the competitor's response to various competitive moves. For example, a participant that is focused on attaining short-lived financial targets may not be willing to spend much money responding to aggressive attack. Rather, such a competitor might support focusing on the goods that hold positions that well again can be protected. Alternatively, a company that has no short term productivity objectives might be willing to take part in cruel costs competition in which all the competing firms do not earn profit.
Objectives of a competitor may be financial or other types. For example market share, growth rate, and technology leadership. Goals may be related with each hierarchical level of strategy - company, business unit, and practical level. The competitor's organizational structure provides hints as to which functions of the corporation are deemed to be the more significant. For example, those functions that report directly to the C.E.O are likely to be given central concern over those that are accountable to a vice president. Other things of the competing member that serve as pointer of its objectives comprise risk acceptance, composition of the board of directors management incentives, executive's background, restrictions from the law, and any additional goals appealing to the cooperate level that may pressure the competing business unit. Whether the participant is gathering its objectives provides a sign of how likely it is to alter its policy.
Thus the study of consumer behavior is so relevant in deciding a business project. Many of these factors should be taken into consideration as they affect the market scope and the clientele choice of commodities. Long term decisions can be speculated with close analysis of the consumer behavior.