Understanding Consumer Behaviour Essay Example | Topics and Well Written Essays - 4500 words

Understanding Consumer Behaviour - Essay Example Wayne and Deborah (2009) define the term consumer behavior as â€Å"Consumer behavior reflects the totality of consumer’s decisions with respect to acquisition, consumption, and disposition of goods, services, activities, experiences, people, and ideas by (human) decision-making units.† (Wayne & Deborah, 2009, p. 3) The main aim of literature review is to provide an inclusive description about different models and theories of consumer behavior in context of generating positive attitudes related to some particular products or brands. Models and theories are selected which have a core relationship between consumer behavior and marketing strategies. The other main area of literature review is to specifically review the effects of celebrities on some certain products. One way of analyzing the markets is to review and examine the projected goals through customer satisfaction, communication, and anticipation. It is quite normal that marketers conduct public surveys to judge t he consumer behavior and to find out their primary target market. By doing so, they understand the needs of their customers better than competitors and therefore implement their strategic marketing more effectively (Jobber, 2001 and Peter & Olson, 2008). Marketing researchers assert that attracting the new customers to a particular product is much cost effective and harder as compared to retain the existing customers, therefore organizations apply ‘Below The Line (BLT)’promotion model to keep the existing customers loyal with the organizations and to attract the potential customers through some comprehensive advertising campaign and marketing plan (Lanman, 2003). There are certain types of industries which primarily are... The intention of this paper is consumer behavior as the study of individuals, oragnizations, and their procedures with respect to the selection, security, and utilization of products, services, ideas or experiences to put a positive impression on the satisfaction and confidence level of consumer or society. Primarily there are four areas of application of consumer behavior. The first and foremost is marketing strategy and thats why consumer behavior is also termed as psychology of marketing. Obviously the main purpose behind any marketing strategy is to formulate and execute a better marketing campaign. For instance, the media schedule snake or fries advertisements in later afternoon because it considers that consumers are more food receptive during that period of day. It is natutal that each new product takes it time to gain popularity amongst consumers, therefore, the introductory companies need to be finacially strong to stay afloat untill their product achieves commercial dominan ce. Further, it is necessary to make the initial customers plaese because they will actually play the most important role in launching a succeessful campaign. The second applicarion is public policy i.e. to gather the data of ceneral trends of the target market and the atracts thge attiyudes of consumers towrds some specific brands or products. Marketers use several theories and models to attract the consumers and change their behavior by influencing positive attitudes towards different brands.