What is the Consumer Behavior?
Consumer Behavior is the training of consumers and their processes to choose, use (consume), and dispose of products and services, including emotional, mental, and behavioral responses.
Consumer behavior incorporates several sciences, including psychology, biology, chemistry, and economics.
In this guide, we’ll look at the different aspects and facets of consumer behavior and
Why is Consumer Behavior Important?
Studying consumer behavior is essential because it helps marketers understand consumers’ purchasing choices.
By understanding how customers decide on a product, they can fill in the gap in the market and identify the products that are needed and the products that are obsolete.
Studying consumer behavior also helps marketers present their products to maximize their consumers. Understanding consumer buying behavior is the important secret to reaching and engaging your clients and converting them to purchase from you.
A Consumer Behavior Inquiry should disclose:
What buyers think and how they feel about numerous changes (brands, products, etc.);
What effects customers to choose between multiple options;
Consumers’ behavior while researching and shopping;
How consumers’ environment (friends, family, media, etc.) affects their behavior.
Different factors often influence consumer behavior. Therefore, marketers should study consumer purchase designs and figure out shopper tendencies.
In most cases, brands affect consumer behavior only by what they can control; Think about how IKEA seems to make you spend more than you expect every time you walk into a store.
So what Factors make Consumers Say Yes?
Factors Influencing Consumer Behavior to fall into Three Categories:
Personal Factors: A person’s interests and opinions can influence by demographic data (age, gender, culture, etc.).
Emotional Issues: A person’s response to a marketing message will depend on their perception and attitude.
Social Factors: family, friends, educational level, social broadcasting, income all inspiration consumer behavior.
What are the 4 Types of Customer Behavior?
4 Types of Customer Behavior
Complex Buying Behavior.
Dissonance-Reducing Buying Behavior.
Habitual Buying Behavior.
Variety Seeking Behavior.
1. Complex Buying Behavior
Complex shopping behavior, especially when consumers buy an expensive item. In this rare transaction, consumers are actively involved in the purchase decision. Consumers will do their homework before investing.
Consumers behave differently when they buy an expensive or unfamiliar product. When the risk of purchasing a product is very high, the consumer consults with friends, family, and experts before deciding.
For example, when a consumer buys a car for the first time, it is a serious decision with high financial risk. Therefore, they think a lot about how you look, how your friends and family react, how your social status changes after buying a car, etc.
With complex buying behavior, the buyer goes through a learning process. First, you will develop a belief in the product, an attitude, and then you will make an informed purchasing decision.
For customers with complex buying behaviors, marketers need to know the products. They are supposed to help the consumer understand your product. Therefore, it is essential to create a promotional message that affects the beliefs and attitudes of the buyer.
2. Buying Behavior that Reduces Dissonance
Consumer engagement is high in buying behavior, reducing Dissonance. Perhaps this is due to the high price and infrequent purchases. Also, there are few options to choose from, and there are fewer differences between brands. In this type, the consumer is buying a readily available product.
Consumers will force to buy goods that do not have too many choices, and therefore consumers will be left with limited decision making. Consumers buy certain products without much research based on the products available, time limitations, or budget limitations.
For example, a consumer looking for a new collapsible table or camping The primary standards here will be the use and the feature of the folding table and the budget offered through him.
Marketers should run after-sale service camps that deliver focused messaging. These campaigns should aim to support consumers and convince them to continue with the choice of their brand. In addition, these marketing campaigns should focus on building repeat purchases and referrals by offering discounts and incentives.
3. Habitual Buying Behavior
Habitual Buying Behavior depicts when a consumer has low involvement in a purchase decision. In this case, the consumer perceives only a few significant differences between brands.
When consumers buy products they use daily, they think little. Instead, they believe in their favorite brand, the one they use regularly, the one in stores, or the cheaper one.
For example, consumers tend to buy a brand name they know without spending much time or research when buying a loaf of bread. Many products fall into this category. Everyday objects such as salt, sugar, biscuits, toilet paper, and black pepper fall into this food category.
Consumers search and buy – there is no brand loyalty. In addition, consumers do not research or need purchase information for these products.
Expected buying behavior affects radio, television, and print media. In addition, consumers buy based on familiarity with the brand. Hence, marketers must use recurring ads to get familiar with the brand. Additionally, marketers must use lower-priced promotions and promotions to initiate product trials.
Marketers need to engage consumers by using symbols and visuals in their ads. As a result, consumers can easily remember which advertisements are visible and associated with a brand.
4. Buying Behavior Seeking Diversity
Consumer participation in diversity-seeking behavior is low. There are several significant differences between brands. Here, consumers often change brands a lot. The cost of changing products is low, so consumers may want to try new products just out of curiosity or
Boredom. Here, consumers usually buy different products not because of dissatisfaction but mainly because of variety.
For example, a consumer loves to buy cookies and does not hesitate to choose a brand. Next time, the same consumer can choose a different brand with a different flavor. Rebranding happens frequently and unintentionally.
Brands need to apply different strategies for this type of consumer behavior. The market leader will convince you of habitual buying behavior by influencing the volume of warehouse space. As a result, many related but different products will display on the shelf.
Dealers avoid out-of-stock conditions, frequent guarantor advertising and offer lower prices, discounts, deals, coupons, and free samples to attract consumers.
Consumer buying decisions depend on consumer behavior. For example, there are significant differences in consumer behavior while buying a car versus buying chips. Therefore, marketers have to exercise careful judgment in marketing products to different consumer behavior.