Customer Behaviors to Take Note of When Marketing
Every day we make lots of decisions, such as what to eat, what to wear, what to buy, etc. Nevertheless, as insignificant as these choices may seem, they are incredibly vital to marketers.
This is because deciphering the thought processes behind a consumer's decision means that they can use that information to improve how they generate revenue.
In this article, you will discover the various aspects of consumer behavior along with other details.
What Is Consumer Behavior?
Consumer behavior is defined as the study of consumers and the processes they use for choosing, using, and disposing of goods and services. It also includes their mental, behavioral, and emotional responses.
Consumer behavior integrates ideas from different sciences, including economics, chemistry, psychology, and biology.
Why Is It Vital to Study Consumer Behavior?
It is essential to study consumer behavior because it aids marketers in understanding the factors that influence the consumers' buying decisions.
Understanding how customers choose their products can help fill in the blanks in the markets and recognize the necessary goods and the obsolete ones.
Observing consumer behavior can also influence how marketers present their products. This is because marketers want to get maximum responses from the consumer regarding the product.
A proper understanding of consumer behavior is the main ingredient to connecting with and winning over your customers; understanding customer behavior is the surest way to getting customer loyalty.
An evaluation of consumer behavior will usually reveal the following:
The customers' thoughts and feelings about different options (brands, services, etc.)
The factors that influence the consumers' choices between varying options
The behavior of the consumer while shopping and researching
How the interactions of the consumers with their environment affects their behavior
Numerous factors affect consumer behavior. For digital marketing to be effective, marketers need to study the different customer purchase patterns and then establish a trend. This trend will determine the marketing direction or strategy.
Most of the time, brands try to affect customer behavior using the factors within their control, but it does not always work.
So, what then are the things that convince the consumer to buy the product? Three classes of factor influence consumer behavior, and they include:
Personal factors: this refers to demographics such as age, marital status, gender, etc.
Psychological factors: this entails the perceptions and attitudes of the consumer.
Social factors: these are the family, friends, income, educational level, social media, etc., of the consumer.
Each of these factors influences consumer behavior and determines how they respond to marketing messages.
Different Types of Consumer Behavior
There are various types of consumer behavior, and all of them are worth taking note of when planning marketing strategies.
1. Complex Purchasing Behavior
This behavioral type comes up when customers are purchasing costly, rarely-bought products. They are very involved in the buying process and do a lot of research before deciding to make an expensive investment. Some examples of these "investments" include buying cars or houses.
2. Dissonance-Reducing Purchasing Behavior
In this case, the consumer is heavily involved in the buying process but has some issues identifying the differences between brands. Dissonance usually happens when a consumer is worried that they will have buyer's regret.
For example, if you're purchasing a vacuum cleaner, you may decide based on the price and convenience of use. However, after buying it, you will still do some additional research to ensure that you made the right decision.
3. Habitual Purchasing Behavior
Habitual purchases are those in which the consumer is little to not involved in the brand category or the product.
For instance, when a person goes into the store and picks up their regular juice or cereal brand – this a habitual purchasing behavior, not strong consumer loyalty.
4. Variety-Seeking Behavior
In this behavioral pattern, the consumer buys different products, not because they were unsatisfied with the others, but because they want variety. This is similar to when you try out different candy flavors.
The types of customers that frequent your e-space and social media platforms will inform your marketing and advertising decisions. That is why it's vital to be familiar with consumer behaviors.
We have discussed the meaning of consumer behavior as well as the different types to note in marketing. Now we will move on to talk about the things that affect consumer behavior.
What Affects Consumer Behavior?
Several things affect consumer behavior, and some of them include:
1. Marketing Campaigns
Marketing campaigns have a significant influence on purchasing decisions. When done right and frequently, the right marketing message can convince consumers to switch brands and even choose costlier alternatives.
Marketing campaigns can also serve as reminders for goods or services that are essential but are not necessarily on the minds of consumers, like insurance, for instance. Good marketing messages can affect impulse purchases.
2. Economic Conditions
Economic conditions play a vital role in influencing the purchases of expensive products. Positive economic situations encourage consumers to make more purchases, regardless of the financial liabilities. It takes a longer time for the consumer to decide when the product is expensive.
3. Personal Preference
Personal factors such as values, likes, morals, priorities, and dislikes can influence consumer behavior. These factors are especially more powerful in industries like food and fashion.
While advertisements have a measure of influence, consumers are ultimately more influenced by what they prefer. For example, regardless of how enticing a burger ad may be, a vegan may never be interested.
4. Group Influence
Another factor that influences consumer behavior is peer pressure. The preferences of our friends, family, classmates, neighbors, acquaintances, etc., can and do play a vital role in our decision-making.
Social psychology influences consumer behavior. Choosing take-out over homemade meals is an example of such a situation. Other factors include education and social levels.
5. Purchasing Power
The consumer's purchasing power determines how much they can spend and limits their spending ability. Most people shop with a budget to maximize cost.
The product may be superb, and its ad may be compelling, but if you cannot afford it, you will not buy it.
Understanding customer behavior and segmenting them based on these factors can help marketers identify eligible customers and better marketing results.
Further reading: How to improve your business on Instagram with AI Tools.