What is Consumer Behaviour in Marketing - Consumer Psychology

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What is Consumer Behaviour in Marketing Consumer Psychology

Consumer behaviour is a fascinating domain where economic forces and human interests collide between the never-ending forces of supply and demand. Imagine a busy marketplace where competitors with several interesting items compete for customers’ attention. Hence, in such situations, judgments are made, including logical calculations, the vagaries of emotion, and the push of persuasion. In this over-developed area, society’s dynamic connection with consumption is created, which ultimately gives birth to the phenomenon known as consumer behaviour in marketing. Let us delve into the concept of consumer behaviour and understand its impact on the world of marketing.

Consumer Behaviour

Individuals’ steps and decisions while making purchases are known as consumer behaviour. The phenomenon of consumer behaviour can be identified in a series of steps, which include:

    • Recognition of the needs or demands regarding a particular product
    • Evaluating the necessary information
    • Consideration of various substitutes for the product  
    • Selecting the product that satisfies the maximum needs of the consumer
    • Further evaluation of the purchased product
    • Repurchase of the product only after it can exceed the consumers’ expectations. 
    • If the product fails to perform, the consumer will immediately discard it, creating a negative image for the brand. 

Consumer behaviour in marketing is essential in the business world. It helps companies understand the factors that influence consumers’ decisions about which goods or services to purchase. Marketers may obtain some valuable insights into the elements that drive purchasing decisions, such as individual preferences, wants, and motives, as well as external influences, including social, cultural, and economic aspects, by analysing customer behaviour. By understanding the factors that cause a change in the consumers’ purchasing decisions, the companies can design campaigns that can effectively target their target audience, accordingly create products, and implement marketing strategies that will satisfy the needs of the consumers.

Types of Consumer Behaviour in Marketing

The degree of customer participation in a purchasing choice determines their buying behaviour. By observing the patterns displayed while purchasing a product, the types of consumer behaviour in marketing can be categorised into four important categories, which include: