Step by Step Tips for Consumer Behavior Assignment
Consumer Behavior is the study of an individual person, or a group of people, or an organization’s, many works or activities related to their buying or purchasing of a product and its usage or disposal, keeping in the record, the consumer’s, mental, physical, emotional status before and after the activity.
Consumer is not similar to a customer. Customer is a person buying the product which means it can be the wholesaler while buying from the dealer or the shopkeeper while buying it from the wholesaler. But, consumer is the end user. It is the last group of purchasers who will use the product and it’s their behaviour or their reviews on the product studied for the betterment of the product.
Importance of the Consumer Behaviour:
Consumer Behavior assignment writing is one of the major factors that decide the future of the product in the market. As mentioned earlier consumed is the end user of the product, hence, their decision or their behavior on the product is the most necessary factor. If the product is not liked by the consumer then there is no point for the product to exist in the market because it is for the consumers that the products are launched.
Few major importance of the consumer behaviour is:
- It decides the future of the product in the market.
- It decides the profit value for the product brand.
- It helps in the betterment of the product.
- It helps to make the best buy for the product.
- It helps to know the best-selling zones for a particular product.
Factors Influencing Consumer Behaviour:
When a new product comes up in a market, they are brought into the light of the consumers through the marketing campaigns. The better the campaigning strategies, the better is the reach of the product to the consumers and, hence, better will be the sale of the product. It depends on the campaigning strategies of the product brand, how they will fetch the product into the minds of the consumers and how much useful and relatable they can show the product to be in their life.
Financial Condition of a consumer or a group of consumers in a particular region also matters in such an event. If the consumers cannot afford to buy the product itself, then the product is likely to sink in the market. If the product is very costly and even if there are people who can afford to buy the product, even then, the company needs to prove to the consumers, the product’s importance in their lives.
The product brand needs to understand the areas or the regions where it will get its majority of the consumers. For example, if a Ferrari showroom is placed in the middle of village, which is far away from the city, then, there will be no consumer for that showroom. Similarly, if a shop of summer cotton garments is built in the middle of Iceland, then there will be no consumer in comparison to a summer place like India.
Even after all the factors, it obviously depends on an individual’s personal choice, if they want to invest on a particular product or not. Different individuals have different lifestyles, and with different lifestyles, comes the necessity of various types of products. For e.g. in general, majority of the people love chocolates, but there are few, who do not as well.
Consumer Behavior is a very important factor that is to be kept in mind for a product to exist and develop in a market. Students should be very strong on basic concepts of consumer behavior prior commencing the assignment. It is important to do note making of all important concepts to be included in the assignment instead of going for direct writing of assignments to score high.