FREE online courses on Consumer Behaviour and Motivation - Importance of
Study of Consumer Behavior
Modern marketing is customer‑oriented, therefore, the study
of customers behavior is vital in framing product policies, price
policies, decision regarding sales
promotion. The rationale of any business enterprise is to provide value to
its customer. Therefore the study of consumer behavior is of permanent
importance for a marketing person to be able to deliver value to consumer.
The consumer behavior gives an insight into the various
factors which prompt him to purchase and like a particular product. If it is
known that it is the packing which attract the buyer then the producer will pay
special attention to the packing of his products.
The buyers of some products purchase only because particular
articles are cheaper than the competitive articles available in the market. In
such a case the price of such products cannot be raised. On the other hand, some
other articles are purchased because it enhances the prestige and social status
of persons. The price of such things can easily be raised.
The goods which are sold and purchased solely on the basis of
low price must have cheap and economical distribution channels. Thus decision
regarding channels of distribution are taken on the basis of consumer behavior.
A study of consumer behavior is also vital in making
decisions regarding sales promotion. It enables the producers to know what
motive prompts buyers to make purchases and the same are utilized in advertising
media to awaken desire to purchase.
