consumer behavior

• Consumer behavior is defined as the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.
• One major strategy in consumer behavior is to provide customers with value-laden products.
• The development of production strategies for quality products requires new marketing strategies to satisfy the changing demand of the consuming public.
• Consumer quality is determined by the advent of new technology and the information linkages of the marketing organization.
• The internet is being used as a new marketing tool to reach a greater number of customers.
• Consumer behavior is dynamic as it involves the human process of thinking, feeling and actions.
• Consumer behavior involves interactive processes as the environment plays a vital role on how people think, feel and act towards new and innovated products.
• The consumer exchange process is where the customer and the marketers meet to get their desired objective.
• Market research is an applied research design to provide marketing professionals with information that affects consumer’s acquisition and disposition of goods and services.
• Information processing and behavioral learning refer to the customer’s access exposure to various advertising media and attention and comprehension on its messages.
• Personality and motivation refer to the measures of personal characteristics for product segmentation and the message design that will appeal to the particular type of consumer.
• Decision making and the influence of groups refer to the consumer’s decision making process that will develop the total marketing strategy to meet customer demand.
• The level of customer satisfaction refers to the level of satisfaction in the use of product or service and its attendant perceived value.
• Environmental scanning and analysis consist of the assessment of the external forces that act upon the marketing organization and its target customer.
• The economic environment, particularly the area of economics, has particular relevance in the consumer behavior through monetary, natural and human resources.
• Behavioral Economics is the study of the economic decisions made by individual consumers.
• Measurability deals with the demographic, psychographic, and personality and attitudes of a particular set of population.
• Product Positioning and Differentiation refer to the organization’s influence on how consumers perceive a brand characteristic relative to those in the market that is offered for sale to the same population segments.
• Marketing Mix Development involves the initiation and coordination of activities concerning the development of the products, its promotion, its pricing and its distribution strategy.
• The Technological Environment is the contributory component in the introduction of new and innovative products in the market.
• Competitive Positioning usually employs when the new brand of products is competing in the market.
• Product Development includes developing, testing, labelling, and packaging.
• Product Positioning is to influence demand by creating a product with specific characteristics and clear differentiation from its competitors.
• Development of New Product involves four areas: Idea Generation, Product Development, Market Testing, and Advertising and Promotional Strategy.
• Accessibility refers to the distance of distribution and how customers will be able to avail of the product or service.
• Advertising and Promotional Strategy enhances and develops the behavior of the consumer with effective advertising and promotional strategy.
• Market Segmentation is the division of the market into distinct subsets of customers having similar needs and wants.
• Product Differentiation is the process of manipulating the marketing mix to position a brand.
• Pricing and Distribution are interrelated on how consumers make their purchase decisions.
• Market Testing involves placing the product in the market in limited distribution to identify the market potential and test the total marketing mix.
• Idea Generation is the phase that has the greatest impact on consumer behavior, attitudes, lifestyle changes, situational factors and the cultural influences in conceptualizing the product idea.
• The Natural Environment includes availability of raw materials, pollution index of the area, weather conditions and health and social conditions.
• Specific Positioning is the strategy where the marketing organization emphasis is on the product attributes, qualities and benefits without comparing it with the competing brand.
• Substantiality means the market size must be substantial enough to make reasonable investments.