Customers base their buying decisions on both rational and emotional reasons. Getting your customers to have an emotional attachment to your brand is one of the keys to keeping them loyal. As well it is one of the key factors in gaining referrals and recommendations. When you want more customers for your business it makes it easier to select the best marketing strategy when you understand. The understanding of your customers’ buying behaviour is based on the following: What Are Their Reasons For Buying?
You need to have a clear understanding both the rational reasons and importantly the emotional reasons customers buy. So their pain is pretty acute. They will look for a business to provide peace of mind and help them to stop worrying. These emotional reasons will be a far bigger driver than price in their buyer decision process. How Often Do they Buy? Understanding this can help you with the timing of your marketing tactics. Knowing how often they buy can also be used when deciding what type of product or service you offer. Are They Buying For Others? Sometimes customer buys on behalf of others.
A classic example is mothers buying for their children. A The ones that use or consume your products or services can have a big influence on the buyer so you need to make sure you consider both in your marketing. What Do They Buy? If you have a range of products and services it is a good idea to understanding which particular products or services they buy on a regular basis. Having this understanding helps you make strategic decisions. Such as whether you keep the whole range or focus on one or two key products or services only. Where Do They Like To Buy?
The Essay on Best Buy Customer Centric Model
“How can Best Buy continue to have innovative products, top-notch employees, and superior customer service while facing increased competition, operational costs, and financial stress? ” This is the critical question asked by a company who has out survived others, but will they outlast when all is said and done. Originally known as the Sound of Music established in 1966, Best Buy began as an audio ...
Understanding customers preferences allows you to focus on the key channels to increase the opportunities for them to buy from you. Where Do They Get Their Information? Today there are so many sources of information. It is helpful to understand where they get the information and who they listen to. These sources could be friends, websites, online reviews or influencers. Studying consumer buying behaviour helps an organisation in following ways: * To design the optimal product or service for customers. * To determine where the product or Service should be available that would easy for the customers to buy. To determine what price will the customers give up purchasing product or service? * To determine which method of Promotion would be most effective for getting the customers to buy a product. * It helps in changing the behaviour of the consumers. * To improve performance of the organization. * To achieve the organizational objectives. Review of the literature According to Professor Theodore Levitt of the Harvard Business School, the study of consumer behaviour is one of the most important in business education, because the purpose of a business is to create and keep customers.
Customers are created and maintained through marketing strategies. And the quality of marketing strategies depends on knowing, serving, and influencing consumers. In other words, the success of a business is to achieve organisational objectives, which can be done by the above two methods. This suggests that the knowledge & information about consumers is critical for developing successful marketing strategies because it challenges the marketers to think about and analyse the elationship between the consumers & marketers, and the consumer behaviour & the marketing strategy. Research objective To understand the buying behaviour of the consumers of Amul frozen items. Research design and methodology We will use descriptive type of research in our project. To describe the characteristics of consumers, their perceptions, to determine the degree to which marketing variables are associated, and to make specific predictions. Sampling technique Simple random sampling method will be used.
The Research paper on Consumer buying behaviour in two wheeler industry
Bikes or two wheelers in India cater to various needs of the consumers. With the choice of the Indians improving from bicycles to two wheelers, the Indian two-wheeler market has seen a significant growth over the years. Now owing a bike has become a must for most Indians. Even if people own a car they prefer to have a bike as it is very economical and fuel efficient. With the growth in the economy ...
Data collection Primary data: primary data of consumers will be collected using survey methods. For that a questionnaire will be designed and consumers responses will be taken which will help to analyse their buying behaviour. Source of data collection Data will be collected from the consumers of the Amul frozen items. Amul’s profile Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), is India’s largest food product marketing organisation with annual turnover (2011-12) US$ 2. 5 billion.
Dr Verghese Kurien, founder-chairman of the GCMMF. Amul’s daily milk procurement is approx 13 million lit (peak period) per day from 16,117 village milk cooperative societies, 17 member unions covering 24 districts, and 3. 18 million milk producer members. It is the Apex organisation of the Dairy Cooperatives of Gujarat, popularly known as ‘AMUL’, which aims to provide remunerative returns to the farmers and also serve the interest of consumers by providing quality products which are good value for money.
Amul deals in various products like : Amul Milk, Bread, Spreads Cheese, UHT Milk, BeverageRange, Amul PRO, IceCream, Paneer, Dahi, Ghee, Milk Powders, Nutramul , Mithai Range, Mithai Mate, Chocolates, Fresh Cream, Pouch Butter Milk. Expected findings The study of consumer behaviour (CB) is very important to the marketers because it enables them to understand and predict buying behaviour of consumers in the marketplace; it is concerned not only with what consumers buy, but also with why they buy it, when and where and how they buy it, and how often they buy it, and also how they consume it & dispose it.
Consumer research is the methodology used to study consumer behaviour; it takes place at every phase of the consumption process: before the purchase, during the purchase, and after the purchase. Research shows that two different buyers buying the same product may have done it for different reasons, paid different prices, used in different ways, have different emotional attachments towards the things and so on.
The Essay on Consumer Buying Behavior Comparison in Marketing Strategies
In order to help creating new offerings, improving communication, organizing delivery and, eventually, increasing the sale. It is important to understand the consumer buying behavior from situational, personality and social aspects. This paper will briefly discuss the marketing strategies of two giant retail department stores, Walmart and Macy’s, in terms of customer buying behaviors. Macy’s ...
Consumer behaviour has become an integral part of strategic market planning. It is also the basis of the approach to the concept of Holistic Marketing. The belief that ethics and social responsibility should also be integral components of every marketing decision is embodied in a revised marketing concept – the societal marketing concept – which calls on marketers to fulfil the needs of their target markets in ways that improve society as a whole. Conclusion
The study of consumer buying behaviour will help an organisation to plan their cost and strategy to increase their sales and which would help the organization in their growth. BIBLIOGRAPHY www. amul. com http://en. wikipedia. org/wiki/Amul http://wiki. answers. com/Q/What_is_the_importance_of_understanding_consumer_behavior http://www. managementstudyguide. com/consumer-buying-behaviour. htm http://www. bing. com/search? q=importance-&form=CMNTDF&pc=CMNTDF&src=IE-SearchBox MARKETING RESEARCH An applied orientation by Naresh K. Malhotra.
