Importance of consumer behaviour while developing a marketing plan

Consumer behaviour plays a crucial role when developing a marketing plan for a company. While, sales figures, revenue and all business generating departments are significant in designing a marketing strategy, consumer behaviour is also a vital component.

Companies that fail to understand how a consumer behaves or reacts will have a tough time understanding how to draw a marketing campaign that will drive in the attention of potential customers.

It is important for businesses to understand what attracts, drives in and encourages customers to buy a product. A good marketer is able to figure out what factors tick interested customers and use that information in creating a successful campaign.

Earlier it was difficult to track the consumer’s behaviour in the absence of advanced technologies. But now with the advent of latest technology, it is easy for marketers to collect, analyse and study the consumer behaviour. This information can be used by the marketers to improve their marketing strategies. The psychology of consumers that controls how they feel, reason, think and select between various options affects the marketing strategy.

Below given are some other behavioural factors that influence consumers and their features that a marketer should consider:

Use of products or complements

It is important for a marketer to understand how the products are used and what accompanying products are purchased and used. This information can be used to create products and complimentary products as per the consumer’s point of view and can motivate and attract consumers to buy.

Decision Making

The complete thought process involved in decision making is another important factor to be studied. Marketers can understand what factors tick consumers while deciding on their choices and what features lead to final decision making. This helps them to design and align products as per the consumer’s choice.

Consumer Knowledge

Social awareness also plays an important role. Aggressive marketing of many products such as high fat foods or easy credit may have remarkable effects.

Environmental influences

Environmental influences are also important factors affecting the consumer’s behaviour. Family, culture, media and type of advertisement can influence the consumer’s choices. This is why creative and attractive advertisements are successful in enticing large number of customers.

Social Media Marketing

Today, social media has become an important tool influencing the consumer’s behaviour. It is a popular platform where people share the features, experiences and feedback about a product.

Motivation

What entices consumers to buy a product is also an important factor for marketers to consider. These insights can be tapped to align the services, products and marketing campaign accordingly to motivate the consumers for buying.

Benefits of studying consumer behaviour

Public Policy – Studying consumer behaviour helps marketers to understand public policy and impact of products or the side effects.

Marketing Strategies – Consumer behaviour can be tapped into designing effective advertising and attracting customers.

Better Consumers – It helps marketers to become good consumers too.

Social Marketing – Social marketing refers to increasing awareness about the products and services rather than focussing on aggressive sales. This is beneficial in improving the brand image and brand loyalty.