Tag Archive 'Consumer Behavior'

Nov 09 2010

Wisdom behind analyzing consumer behavior

Published by under Business & Marketing

What is the ideal business mantra?Sell what a consumer wants to buy or make him/her buy what you sell?Over time, I have sided with either or both of these, but one factor has always simplified it all for me; that of ‘relevance’. Consumer behavior defines the various kinds of relevancies that come to the fore when your target makes his decision to buy or not to buy your products.

Grasp over consumer behavior helps you to make every tiny business decision, a perfect one. For that, you first need to know what makes your customer behave the way he/she does.

A quick rundown on what makes up relevancies…

Gender
Some products are gender-specific and this is the most obvious relevancy to categorize your consumer group.

Age
Consumers of different age-groups have different preferences.

Class
One gets labeled as a ‘consumer’ when he/she gets purchasing power. Thanks to class differences the purchasing power differs from person to person and so does their choice of products.

Geography
Preferences vary across geographical divisions too.

Where does all this fit in?

Once you have determined whether any or many of these can predict your target group’s consumer behavior, the next step would be to ensure that all aspects of your marketing are tuned to that relevancy.

Ad-campaigns – You will be amazed at how small, seemingly unconnected cues can earn you customers. Know the relevancy that defines your target group; ensure the ideas in your ad-campaign represent those of your consumers. Those who watch the campaign will surely identify with it.

Marketing techniques – Understanding your consumers’ behavior will also help you chalk out different ways to reach out to them. There are some who like receiving ‘free’ gifts irrespective of the value they symbolize. Small promotional giveaways like promotional pens, key-chains, toys and novelties will win them over. But, on the other hand, some like receiving sophisticated promotional products like golf kits, customized tool-kits etc.

Know your customer, and take a step closer to success.

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