Consumer behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use, and disposal of goods and services. It emerged in the 1940s and 1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics (especially behavioral economics) . Understanding consumer behavior is important for marketers as it helps them to relate better to the expectations of the consumers.
Some key points about consumer behavior include:
- Factors: Consumer behavior consists of how the consumers emotions, attitudes, and preferences affect buying behavior.
- Types: Consumer behavior is the study of how people make purchase decisions to satisfy their needs, wants, or desires and how their emotional, mental, and behavioral factors influence those decisions.
- Importance: Understanding consumer behavior is a key element of a marketing strategy. Before implementing a strategy, it is essential to fully understand the needs and expectations of the consumers you want to influence.
- Methods: To delve deeper into the preferences of your target market, some of the questions you must answer are: How do the consumers perceive the information? How do you capture their paying attention? What are their needs? What factors influence them to make purchasing decisions? Are they price, quality, commercial offer, or others? .
- Elements: Consumer behavior is the study of the elements that influence individuals’ purchasing decisions, including environmental, psychological, and societal factors.
In summary, consumer behavior is a complex field that involves understanding how individuals, groups, or organizations make decisions about purchasing, using, and disposing of goods and services. It is an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics. Understanding consumer behavior is important for marketers as it helps them to relate better to the expectations of the consumers.
