Consumer behavior can be known through market research.
Consumer behavior is the conduct of an individual or group of people when purchasing a product or contracting a service . The concept refers to how a subject chooses to use the resources he has to achieve the satisfaction of his needs or desires.
It is worth noting that the idea of behavior refers to a way of acting. A consumer , meanwhile, is someone who buys and uses consumer products or someone who uses different services.
Consumer behavior can be said to be the way someone proceeds when deciding on a purchase . The notion refers both to the specific instance in which the transaction is carried out and to the previous stages in which multiple factors influence it.
Characteristics of consumer behavior
Consumer behavior is built through the combination of multiple variables. As a field of study, it is an area where marketing , psychology , economics and other sciences and disciplines intersect.
It should be noted that consumer behavior must be understood as a dimension of human conduct . In this sense, all the elements involved in decision-making must be considered.
Consumer behavior is related to how people react to stimuli. Marketing studies seek to anticipate this behavior in order to guide the commercial strategy toward it.
There is a consumer psychology that intervenes in the purchasing decision process. Social class, lifestyle and social influences are part of the set of factors that influence consumer attitude and purchase motivation.
Consumer trends reveal consumer behavior.
Stages of the purchasing process
The purchasing process takes place in five stages:
- Need identification : The person recognizes that he or she needs a product or service. Of course, this need is not always associated with something that is essential, but may be a desire.
- Information search : The subject begins to search for data to make a decision regarding the product or service. They may find out prices, consult reference groups or read comments on social networks, for example.
- Information processing : In this phase, the data obtained is analyzed and compared. The consumer carries out an evaluation of alternatives.
- Purchase decision : This is the completion of the operation (the acquisition or contract).
- Consumption or use and post-purchase evaluation : The post-purchase stage determines customer satisfaction. The buyer may consider that the purchase allowed him to satisfy his need or desire or, on the contrary, that it did not meet his expectations. This evaluation is key for future purchases.
It is important to know consumer behavior in crises (pandemics, recessions).
Types of consumer behavior
Experts recognize several types of behavior based on consumer attitude. These classifications are based on the purchasing behavior itself, the frequency of transactions, and the channel used to purchase.
The rational consumer is one who separates emotions and consumption. Before buying, he analyzes why he should make the transaction and what the advantages and disadvantages are. That is why he tends to plan his purchases, which he only makes when he considers it appropriate.
The impulsive consumer , on the other hand, is more susceptible to marketing actions. He seeks immediate satisfaction of his desire and thus opts for impulsive purchases.
The loyal consumer , on the other hand, stands out for his fidelity. He does not spend time or effort evaluating alternatives or making impulse purchases: he prefers to maintain his brand loyalty.
Other classifications refer to a consumer oriented by needs (responds to the requirements that arise in their daily lives) and a consumer oriented by discounts (buys based on the promotions they find).
Factors influencing the decision
Consumer behavior depends on numerous factors that determine decision-making related to purchases.
The economy is one of the most important variables. The purchase is largely defined by the buyer's financial resources and the price of the good or service in question.
Psychology is also key. Consumer perception is built according to their emotions and feelings.
Personal and social factors also play a role. Particular interests, age, educational level, family opinions and the opinions of friends can encourage or discourage a purchase.
Importance of consumer behavior
As we indicated above, studying consumer behavior is essential for companies. By understanding how purchasing decisions are made, they can be influenced through marketing actions , commercial strategies , etc.
Suppose it is noted that a certain type of product appeals to younger consumers, who are also the most impulsive. Advertising should aim to generate an impact on this population segment. It is also possible to work on online consumer behavior because young people prefer to use e-commerce.
It is also important to identify the products that the market demands and also to detect those that do not arouse interest. That is why it is always useful to study consumer behavior.