#008 Decoding the Shopper's Mind: The Essential Guide to Consumer Behavior
Understanding Consumer Behavior: An Introduction
The goal of this article is to introduce you to the basic concepts of consumer behavior and how they affect consumers. We'll start by exploring what it means to be a consumer, then we'll look at the 5 C's of Consumer Behavior: consumption, choice, culture, communication and competition. From there we'll move on to an overview of brand management and the 4 P's that marketers use when trying to develop effective marketing strategies!
Consumer behavior is the study of how consumers make decisions. Consumers are influenced by a variety of factors, including their personal characteristics (e.g., age, gender, income) and situational forces (e.g., moods). Understanding consumer behavior helps marketers understand what consumers want and need so that they can develop effective marketing strategies for their products or services.
Consumer decision making has been studied for decades by researchers who have identified several stages in the process: 1) Problem Recognition; 2) Information Search; 3) Evaluation of Alternatives; 4) Purchase Decision; 5) Post-Purchase Behavior
The 4 P's of Marketing
The 5 C's of Consumer Behavior
The 5 C's of Consumer Behavior
Consumer behavior is the study of why people buy what they buy, and how marketers can use that information to influence consumer decisions. Here are some key concepts in consumer research:
Needs -- The basic physical requirements for survival, such as food and shelter. Needs drive our behavior because if we don't meet them, we will die (or at least suffer). In marketing terms, needs include things like safety from physical harm or protection from disease; security from financial risk; comfort in our environment; affectionate relationships with other people; etc.
Wants -- Desires beyond those necessary for survival...things like creature comforts like nice clothes or jewelry; entertainment like movies or concerts; travel opportunities such as cruises or exotic vacations abroad...you get the idea! Needs are driven by biology while wants are more influenced by culture than anything else since they tend not change much over time unless something happens culturally (like when smartphones were invented).
What is Branding?
Branding is a marketing strategy that creates a unique image for a product or service in the minds of consumers. It can be used to build trust and loyalty, as well as help you stand out from your competitors. Branding is about building a relationship between the consumer and the brand, so it's important to understand what makes up this relationship before we move on.
In order to better understand how branding works, let's take an example from everyday life: Coca Cola! How many times every day do you see someone drinking Coca Cola? Probably quite often if we're being honest here... That's because Coca Cola has done such an amazing job at creating an iconic logo design (the script), memorable advertising campaigns (like their polar bears) and even holiday traditions like buying calendars with special messages printed on them every year at Christmas time! This combination makes people feel connected emotionally with this particular drink company while also reminding us why we love having our own personal fridge stocked full of cans filled with delicious goodness waiting patiently until we need them again next week...
How are Consumers Different From Other Types of Markets?
The consumer market is unique in that it's the most open and dynamic market. Consumers have greater choice than any other type of market, which means they're more informed and have more influence on the market itself. Consumers also tend to be more influenced by their peers; this means consumer behavior changes quickly, since new trends can spread like wildfire through social media. Finally, consumers have higher expectations than other types of markets--they expect products to meet certain standards or deliver specific benefits before they'll buy them!
In terms of consumer behavior, many people have different needs and wants.
In terms of consumer behavior, many people have different needs and wants. For example, you may want to buy a new car because your old one is too small for your family or because it does not have the features that you need for work. On the other hand, someone else might prefer to save money by keeping their current vehicle even though it does not meet all of their requirements.
This means that each individual's decision-making process will vary depending on what they value most in life--and this can vary from person to person!
One important factor that influences how we behave as consumers is our environment: where we live, who lives around us (our social group), how much money we make etcetera...
In this article, we've taken a look at the main concepts behind consumer behavior. We hope that it has given you some insight into how people think, feel and act when they're buying products and services. Whether your goal is to understand why people buy what they do or just better understand yourself and others around you, understanding these concepts can help guide your choices in life as well as business decisions!