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Consumer Behavior: Patterns, Types, Segmentation and Analysis
Have you ever thought about what your shoppers’ consumer behavior may mean? This data is crucial for the optimization of your selling and marketing processes. This article will discuss the meaning of consumer behavior, its types and patterns, and how you can leverage this information for your success.
What is consumer behavior?
This studies the buyers’ journey and the processes they use to purchase and consume products. This encapsulates the other emotional, mental, and behavioral patterns that come into play.
Studying consumer behavior gleans insight into what influences a person to make confident buying decisions. Marketers can use this information to fill in gaps in the market and eliminate products that are no longer working.
Types of consumer behavior
This is often seen among consumers who make expensive purchases. As these people make high-value purchases, they take the time to thoroughly research before buying something. This includes buying houses, cards, and other investment items.
This is when the customer is fully aware that they wish to purchase something, but they are having difficulties with differentiating between the different brands available to them. They may be in the process of comparing prices, features, convenience, and more.
Thai refers to purchases that require little to no emotional investment, wherein the customer does not really care about the category or brand. Take a customer who is in the grocery store. They buy the first things they see to complete their list without specific brand loyalty.
This is when a customer buys new variations of the same product simply to explore the different options. For example, he may purchase different scents of body wash.
Factors affecting consumer behavior
Marketing campaigns heavily influence consumer behavior. A marketing campaign that is done regularly and executed correctly while carrying the right brand messaging will effectively convince consumers to purchase.
Economic standing and conditions
The current economic climate likewise influences consumers’ buying behavior. When the economy is stable and positive, consumers are more confident to make massive purchases.
Personal preferences for consumer behavior
People buy based on personal preferences such as likes, morals, priorities, and more. These individual factors are compelling in the world of fashion and food.
Consumer behavior is also influenced by the group surrounding the particular individual. Their friends and family will strongly influence which brands they should subscribe to or which products to try.
We hope this blog helped shed light on consumer behavior.
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