Consumer Behavior and Marketing Strategy Essay

Consumer behavior is the study of organizations, groups or individuals and the processes they employ to select, use, secure, and dispose off experiences, services, products or ideas to content needs and the effects that these progressions have on the consumer and society (Hawkins & Mothersbaugh, 2013). Consumer behavior has four major applications which include; informed individuals, marketing strategy, social marketing and regulatory policy.

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For organizations to succeed in consumer behavior, they need to excel in cross-cultural variations which include cultural values and global culture demographics. The role of global demographics is enormous and hence cannot be overlooked. Business organizations need to align their marketing strategies, social marketing and even relaying of information in a way that resonates with different demographics (Hawkins & Mothersbaugh, 2013). These can be defined in terms of size, age, race, sexual orientation among others.

Marketing strategy is an organization's plan of reaching to potential consumers and converting them into customers of the product or service provided. Creating a successful marketing strategy that focuses on consumer behavior, organizations must reflect on the changing societal values. These could be self-oriented values, environmental oriented values, or other-oriented values. It is the obligation of the organization to develop strategies that result in sales and to do that; the strategy adopted must resonate with the target audience (Hoyer, MacInnis & Pieters, 2018). Market analysis, market segmentation, societal expectations are some of the factors that an organization should focus on.

Discussion

Marketing strategies are often developed based on explicit and implicit dogmas about consumer behavior. Prior knowledge of consumer behavior offers a competitive advantage to the organization when formulating marketing strategies (Hawkins & Mothersbaugh, 2012). To understand consumer behavior one needs to understand the cross-cultural variations in consumer behavior. These can exist in the non-verbal communication, found in things, etiquette, agreements, relationships, symbols, time, and space among others. The organization must communicate in a language that is familiar to the target market.

Consumers are sensitive to things and small variations can mean success or doom to a business venture. Communicating in a language they understand is key to winning them over. The language must not relate to verbal communication but everything that can be interpreted as communication. Globalization is with us and for that, we cannot wish it away; business must prepare for culture diversification not only in the office setting but also in the handling of customers. A business organization should therefore ready itself for cross-cultural marketing strategies; consumers are counting on it (Hawkins & Mothersbaugh, 2013).

The principles of consumer behavior are useful in several areas of marketing. These areas include; analyzing marketing opportunities, selecting a target market, marketing mix decisions among others. While scanning for new market frontiers, segmentation of different markets with exceptional needs and wants is paramount to unlocking their buying potential. Closely studying these segments, their buying decisions and their preferences enable the organization to design products and or services aligned to their needs (Hawkins & Mothersbaugh, 2013). Consumers like to feel special and that means developing products that are somewhat customized to their individual preferences. The organization management should, therefore, for instance, run advertisements that target individual tastes and preferences as opposed to running general blind adverts with the hope that someone might relate.

To understand the patterns in consumer behavior one would need to understand the nature of consumer behavior. At the very basic managers should understand and appreciate the fact that consumer behavior is complex, non-conscious, disorganized, organic and nonlinear (Hoyer, MacInnis & Pieters, 2018). It is not structured or mechanical as imagined. Consumers are susceptible to influences; these influences can be internal, external, or self-concept and lifestyle. Sociological, demographic, physical, and psychological are some of the internal and external factors that might influence consumer behavior (Schiffman, Kanuk & Wisenblit, 2010). When developing a marketing strategy, the organization should pay attention to changes that might arise as a result of these influences. Planning ahead and being ready for changes is one way the organization prepares for unpredictable consumer trends.

Lack of innovation is one area that most businesses fail. Failure to create and remain relevant has driven businesses to the ground. Other than understanding consumer's behavior and talking their language, a business venture would need to keep reminding the consumer the reason they matter. Competition is a necessary evil in business that maintains balance and weeks out redundancy. Consumers are always looking for businesses that are continuously innovating (Hoyer, MacInnis & Pieters, 2018). One way of keeping consumers interested in your brand and remaining at the top of the consumer chain is adopting the keizen model. Continuous improvement can even in some instances shape consumer behavior.

The value system is a factor that should not be overlooked when developing marketing strategies focused on consumer behavior. Societies are dynamic and ours is not different; as such a marketing strategy that does not account for the societal values is a failed strategy. Today, there are more people coming out in defense of the LGBT community, there are others who strongly believe in a cause and they too need to be considered when developing a marketing strategy. In some cases, consumers will need the organization to take a stand on social issues that tend to get emotive (Walker & Mullins, 2011). For instance, gender-based marketing, marketing to the LGBT community, green marketing are some of the areas that an organization cannot afford to go wrong. One wrong decision can set the organization ages back and with dire consequences.

Conclusion

Consumer behavior and marketing strategy are two sides of the same coin. One influences the other. It would be virtually impossible to create a successful marketing strategy without focusing on consumer behavior. Most aspects of a successful marketing strategy rely on understanding consumer behavior; marketing mix, marketing segmentation to mention a few (Walker & Mullins, 2011). Organizations have a duty to their consumers to offer products and services that resonate with their specific needs. Consumers also have a duty to keep the organizations innovating and creating through their ever dynamic consumer behavior. They set the terms and organizations do their best to impress them with their creations. Organizations do this by understanding the principles, the nature and the patterns of consumer behavior. Unfortunately it is not explicitly spoken or communicated in easy to understand language; instead, it is in code language that calls for study and research to understand what exactly the consumers want. Organizations that manage to crack the consumer behavior code enjoy smooth customer relations and increased sales (Walker & Mullins, 2011).

References

Hawkins, D. I., & Mothersbaugh, D. L. (2012). Consumer behavior: Building marketing strategy. Boston: McGraw-Hill Irwin.

Hawkins, D. I., & Mothersbaugh, D. L. (2013). Consumer behavior: Building marketing strategy. New York, NY: McGraw-Hill Irwin.

Hoyer, W. D., MacInnis, D. J., & Pieters, R. (2018). Consumer behavior. Boston, MA: Cengage Learning.

Schiffman, L. G., Kanuk, L. L., & Wisenblit, J. (2010). Consumer behavior. Upper Saddle River, NJ: Pearson Education/Prentice Hall.

Walker, O. C., & Mullins, J. W. (2011). Marketing strategy: A decision-focused approach. New York: McGraw-Hill/Irwin.