• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Discuss the impact of consumer behavior on marketing decisions.

Extracts from this document...

Introduction

CONSUMER BEHAVIOR DISCUSS THE IMPACT OF CONSUMER BEHAVIOR ON MARKETING DECISIONS Consumer behavior is the study of how people behave when purchasing and disposing of products. This essay aims to give a description of consumer behavior, its segmentation and the ways in which marketing decisions are influenced by it. "Consumer behavior is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires." (Solomon et al, 1999, p.8) There are many types of consumers such as young, old, rich and poor. Products include a wide range of tangible items such as automobiles and electronic goods. Services incorporate intangibles such as brokerage services and financial advisors. People can have needs for survival basics such as McDonalds for hunger, Coke for thirst and desires like Levis for fashion. ...read more.

Middle

Demographics include such factors as age, gender, social class and ethnicity. Geographic factors include region and country. Psychographic areas are comprised of personality and lifestyle. Lastly, behavioral differences include brand loyalty, usage situations and benefits desired. Different races and ethnicities have demands for goods and services that may not exist in other ethnic segments. An example of this could be South Africans wanting dried meats such as Biltong. If this consumer segment creates enough demand then a supplier will respond to fill the market gap and create marketing strategies for it. Geography does not simply consist of different land masses and borders. Geographic differences can also dictate diversity in cultures, beliefs and languages; one such example of this is England and France. All of these consumer behaviors and differences influence marketing decisions and strategies in different ways. The level of influence of each consumer behavior can be dependant on the target consumer of the marketing campaign. ...read more.

Conclusion

Congruity states how homogenized the segment is, how well the consumers fit into the segments defined values. Basic principals of supply and demand are at work here. The business is supplying the demand from consumers and, in order to increase or keep market share, as well as increase demand for the products, the business must effectively market the products and services by listening to the consumer demands and thus the consumer influences the business. This philosophy is known as the marketing concept.(Assael, 1998, p.8) "The marketing concept states that marketers must first define the benefits consumers seek in the marketplace and gear marketing strategies accordingly." (Assael, 1998, p.8). It is clear that each consumer segment has a large bearing on marketing decisions. The individual consumers behavior has little power but grouped together with others of similar values and interests it creates a larger 'consumer' with enough purchasing power to cause businesses to respond either with new or tailored marketing plans and products. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. How does marketing fit into your business?

    Sustainable marketing is "the establishment, maintenance and enhancement of customer relationships so that the objectives of the parties involved are met without compromising the ability of future generations to achieve their own objectives" Brassington & Pettitt, 2002. Corporate and social responsibility is an emergent and growing marketing philosophy.

  2. The concept of segmentation and the bases for segmenting markets - The main methods of ...

    The questionnaire should have collected data on both the needs sough and the characteristics of respondents. The most common profilers used in consumer market segmentation are Geographical, Demographical, psychographics and behavioural. Organisational market segmentation is where management have to segment the market by benefits sought, describing the characteristics of these customers.

  1. Produce a marketing strategy for a new or existing product

    I also got the reader's of the reader's of marie claire to fill out the questionnaire too. Their results were they also liked going out to nightclubs, parting, gymnastics, tennis, cinemas, and shopping. With this vital piece of research I will put this together and find a place that both readers of marie claire and Cosmopolitan attend.

  2. Marketing Strategy - Nintendo Gamecube

    (Sources used: the Nintendo site: www.nintendo.com, free Nintendo Gamecube leaflet from HMV and the May 2002 edition of the Nintendo Official Magazine) 4.0 AN INTRODUCTION TO MARKETING Some definitions of the term marketing often suggest that it is the same as advertising or selling.

  1. A Marketing Plans

    * The responses of many potential customers in the local area. * The most successful way to produce a questionnaire. * The methods of market research that is available and appropriate. * The definitions and importance of marketing. With this information I shall produce an appropriate analysis, this will then

  2. creating a marketing proposal

    Marketing and corporate objectives In the business our aims are: * To attract a new customer to our product * To understanding customers needs * Aware of new products * Improve market shares * Increase customer base To attract a new customer to our product - attract new customers is a common objective in business.

  1. edexcel Marketing Assignment

    Barking gets higher, and a large number of students between the ages of 13 - 18 past through the shopping mall on their home from school. This is good because 13 - 20 years of age is the market segmentation.

  2. Marketing in Action

    Skinclad attempt to supply their products to the Norwegian markets may have failed on principle mainly because of > A lack of experience and skills in foreign trading > Non-existence of a Skinclad brand although high quality > Limited knowledge of Norwegian & trade policies that limits the quota of imports to protect their local industry (Kotler 2002)

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work