Consumer Behavior: Understanding Motivations to Buy & Use Goods/Services - Research Paper

Introduction

Generally, consumer behavior can be defined as the study of the approaches that organizations, groups or individual customers buy, select, utilize and share services and goods ideas to meet their requirements thus satisfying their wants and needs (Hawkins, Mothersbaugh, & Best, 2010). In other words, consumer behavior is consumer actions and motives in the marketplace. By having a more profound understanding of what prompt consumers buy and use certain services and goods, marketers can have the capability to determine the obsolete products, the most needed ones and also marketing approaches to consumers. This is a research paper outline that will be based mainly on consumer behaviors and traits in the marketplace. Discuss the consumer behavior influences (internal and external influences) to decision making process on marketing activities.

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Consumer Research

Marketing research conducted on consumer attitudes, preferences, usage, loyalty, and behavior in the marketplace.

Relationship Between Marketing Strategy and Consumer Behavior

Knowing consumers influences to buy and utilize a certain product or service is essential to the marketers. This is because both consumers purchasing behavior and decisions is the most critical marketing aspect (Chiu et al. 2005).

Consumer Behavior Impacts on Marketing Strategy

Consumer Behavior Influences

Motivation

Motives and personal needs are the most influential internal factor affecting consumers purchasing decision. Consumers needs and wants may be defined by the unavailability of something or contrast between consumers actual and desired state. Personal motivation can be defined as his/her inner state encouraging him/her to satisfy a particular need.

Psychology of Consumer

Three main psychological aspects affect consumer behavior: personal motives, personality, and perception. Own motives involve the desire to fulfill a particular objectified goal or satisfy a want or need they have, for example, buying a car after graduation. Personality includes the consumers' dislikes and likes, for instance, individuality taste when purchasing certain products or a particular brand that appeal to them. On the other hand, consumer perceptions play an extensive functionality in consumer behavior based on their psychology. It involves information about the products, for instance, its price, where and how they are made among others (Quester et al. 2007).

Consumer Decision Making

Consumer decision-making process and outcomes are associated extensively with consumers involvement as it is connected with high end or expensive services or products that necessitate a lot of research by the consumer before making a purchasing decision. The complexity of the process of decision making involves usually looking at several reviews of different products and brands, thus leading to a good informed choice (White, 2018).

Products/Services

Use of ELM (Elaboration likelihood model) in figuring out if communication is the central route in connecting with consumers loyalty, they get towards a particular product, service, or brand.

Demand and Supply

Demand and supply are a standout amongst the most fundamental models in financial aspects and comprises of the extent between the measure of supply for a product or service and demand measure that is supplied. Consumer behavior is significantly affected by demand and supply (White, 2018).

References

Chiu, H. C., Hsieh, Y. C. Li, Y. C. & Lee, M. (2005). Relationship marketing and consumer switching behavior. Journal of Business Research, 58(12), 1681-1689. Retrieved from; https://www.semanticscholar.org/paper/Relationship-marketing-and-consumer-switching-Chiu-Hsieh/d8acde13a92c1da72686bdf046b0cedec718e4d4

Hawkins, D. I., Mothersbaugh, D. L., & Best, R. J. (2010). Consumer behavior. NY: McGraw-Hill. Retrieved from; https://aclasites.files.wordpress.com/2017/02/consumer-behavior-building-marketing-strategy-11th-edition.pdf

Peter, J. P., Olson, J. C., & Grunert, K. G. (1999). Consumer behaviour and marketing strategy (pp. 329-48). London: McGraw-Hill. Retrieved from; http://nexusnotes-media.s3.amazonaws.com/wp-content/uploads/edd/2014/07/MKTG2112-End-Exam-notesp.pdf

Quester, P., Neal, C., Pettigrew, S., Grimmer, M. R., Davis, T., & Hawkins, D. (2007). Consumer behaviour: Implications for marketing strategy. McGraw-Hill. Retrieved from; https://eprints.utas.edu.au/4998/

White, D., (2018). How Consumer Behaviour Affects Marketing Strategy. Retrieved from; https://www.techfunnel.com/martech/how-consumer-behavior-affects-marketing-strategy/