Why consumers are important

A marketer has to understand the factors that are changing so that the marketing efforts can be aligned accordingly. What is the importance of consumer buying behavior? This article outlines several of them. In marketing, consumer differentiation is a way to distinguish a consumer from several other consumers. This helps to make a target group of consumers with the same or similar behavior.

Though you have a targeted customer demographic in your business, you can still have variations between individual customers. Each group of consumers are different and their needs and wants differ from other groups.

When a marketer is knowledgeable about differentiation of each group of consumers, he can design separate marketing programes. Consumer differentiation will help to tailor your strategies to the needs of varying customer groups. When consumer differentiation is done, you can expand the width and breadth of your services. You will be able to effectively serve a wider group of people. Consumer behavior is not just important to attract new customers, but it is very important to retain existing customers as well.

Therefore, marketing the product should be done in such a way that it will convince customers to buy the product again and again. Thus, it is very evident that creating customer and retaining them is very important. Understanding consumer behavior allows you to create effective marketing campaigns.

Each campaign can speak specifically to the separate group of consumers based on their behavior. For example, while targeting kids market, you may have to look out for venues such as TV ads, school programes and blogs targeting young mothers. Y ou will need to take different messaging approaches for different consumer groups. A study of consumer behavior enables the marketers to understand what motives consumers to make purchases. Furthermore, the same motive can be utilized in advertising media to stir the desire to make a purchase.

Moreover, marketers should take decisions regarding the brand logo, coupons, packing and gifts on the basis of consumer behavior. Consumer behavior analysis will be the first to indicate a shift in market trend. New customers mean hesitant customers, and we get it. Are the products good quality? Is the customer service any good?

Will I even receive my order? These concerns only increase under certain trading conditions. Wanting to form a friendly relationship is human nature, even more so when money is changing hands. Customers respond well to companies that offer a friendly, expert advice; efficient support and above all, clear and helpful answers — especially when times are a little tougher than usual. If you are accessible, approachable and transparent you will give your customer the assurance they need to give you their trust, and their business.

Feefo Senior Content Marketing Executive. David Blaseby, Managing Partner of MullenLowe Profero, has written in My Customer on the impact of driving sales on customer-centricity, loyalty and meaningful relationships. This is the essence of creating a positive customer experience CX , and CX means everything to fostering a loyal customer-base.

Consider this stat from Qualtrics :. As addressed above, the organizations that not only solve, but best communicate that they solve, real consumer problems are the ones that win in the market today.

Therefore, consumer behavior insights can be used to inform almost all areas of your marketing strategy. This may include what content you should be creating within your blogs and other content mediums, the types of stories you tell in your video and display advertisements, or even how you adjust your product lines to deliver what the consumer wants. As an example, let's consider the content your marketing teams could create in the coming months.

If you're a brand that specializes in products for men, you might have a plan to create a bunch of blogs about gifting for men this quarter. This subtle tweak in the way you title and keyword optimize your content could mean the difference between getting almost 10, site visitors or just above 1, from this content.

Consumer behavior insights can be derived through a variety of ways. They may come from analytics provided by your marketing or sales platforms, they may be a result of surveys, or they may come from your own analysis of publicly available data such as search engine data.

Marketers are paying close attention to consumer behavior or how potential buyers act when purchasing goods or services for personal consumption. It is also important to note that consumer market research is not directly synonymous with marketing research.

Marketing research is actually comprised of both consumer and business-to-business research and examines all aspects of a business environment.

The ultimate goal of consumer research is to serve as the voice of the consumer. This type of research focuses on understanding the consumer as a person by focusing on exploring his or her attitudes, needs, motivations, and behavior as it relates to a product or service. More broadly, consumer research helps provide a company with relevant, reliable, valid, and current information about their target buyer.

Focus Group : Soldiers and family members participate in focus groups. For instance, a consumer goods company that wants to develop a new cheese product for the growing Hispanic demographic can use market research. If the consumer market research demonstrates that consumers do in fact have an unsatisfied need for a cheese that could replace the product they are currently consuming in Latin America, the company could go ahead and develop the cheese product.

Both quantitative and qualitative models seek to explain patterns in behavior, but the former is mathematical and the latter is more descriptive. Quantitative Research is defined as the systematic empirical investigation of social phenomena via statistical, mathematical or computational techniques. At its core, quantitative research is used to identify patterns and predict behavior.

This type of research is used in business, marketing and in social sciences such as psychology, economics, sociology, and political science, and, less frequently, in anthropology and history.

Qualitative Research is the examination, analysis and interpretation of observations for the purpose of discovering underlying meanings and patterns of relationships, including classifications of types of phenomena and entities, in a manner that does not involve mathematical models. This research asks broad questions and collects word data from participants.