CONSUMER BEHAVIOUR

Consumer Behaviour



Consumer Behaviour

Introduction

This paper is based on the theme of consumer behavior. Consumers have always been and will remain an integral part of marketing and advertising campaigns. Companies have always focused their strategies to attract customers much as possible. In fact, the success of a company can be measured by the number of loyal consumers. This article discusses the theory and the importance of consumer behavior of the media and playing companies in the field of advertising. Behavior occurs for either the individual or group setting (egg, friends influence what kinds of clothes used by one person) or organisation (the people at work making decisions on products the company to use). It is historical fact that consumers are the backbone of a nation's economy, thus the study of consumer behaviour has gained impetus in contemporary times. The internet and globalization have also played their part in shaping the consumers' opinion and different trends in their behaviours when it comes to purchasing an item, ranging from jewellery to grocery (Meyer, 2005, 41).

Discussion

Consumer behavior involves the use and disposal of products as well as the study of how they are purchased. Product use is often of great interest to the seller, as this can affect how a product is better positioned or how we can encourage increased consumption. Since many environmental problems result from product disposal (egg, motor oil is sent to the wastewater system to save the rate of recycling, and trash accumulate in landfills), this is also an area of ??interest. The impact of consumer behavior in society is also of importance. For example, the aggressive marketing of foods high in fat, or the aggressive marketing of easy credit, may have serious implications for national health and economy (Meyer, 2005, 41).

When it comes to foreign market entry, consumers' perception about a product can affect its launch in another country. Thus companies, planning to expand their business should consider consumer behaviour as one of the basic indicators of success and survival of the business on the foreign soil. For example, if a British firm, GlaxoSmithKline (GSK), plans to launch a drug in India, it may the case that the product might fail due to unawareness of cultural and consumer behaviour prevailing in India on part of the company. The same product might gain popularity in Spain, just because, the market conditions and consumer behaviour would have been thoroughly studied by the firm. Therefore, the fact stands that firms going for global expansion should take into consideration, the element of consumer behaviour as an important ingredient and indicator of success or failure of a particular product launch (Shun, 2006, 27).

Characteristics of Consumer Behavior

Loyalty is the tendency of (some) consumers adhere to the same products. With this as a key effect, deterministic models, are continuous-time systems of ordinary differential equations, the stronger the loyalty, the slowest of the changes in the number of people buying products in particular. For discrete time models, the degree of loyalty ...