“A consumer is a shopper who is sore about something.”- Harold Coffin.
The nature of human beings is becoming a part of something highly beneficial. Let’s face it. You wouldn’t want to purchase a product that would do you no good in any way.
To that end, consumer behaviour then becomes tangible. That’s because there are tons of factors that drive consumers’ responses to products. Some of these are cut across the sentimental appeal of a product, personal beliefs of the consumer, age, income level, spending habits, gender, etc., and can hardly ever be controlled.
“Our jobs as marketers are to understand how the customer wants to buy and help them to do so” – Bryan Eisenberg
Little wonder huge corporations from Ford to Apple to Tesla have invested millions of dollars, researching and analyzing consumers’ responses towards their products. Now that’s a pointer to the fact that they could not figure it out manually. And that’s because human beings are sophisticated and many times, cannot ultimately be satisfied nor predicted.
All hope is not lost, though. Thankfully, psychologists have been able to narrow the factors affecting buying decisions, down to three;
“The aim of marketing is to know and understand the customer so well, the product or service fits him and sells itself” – Peter Drucker.
- Social factors
The social characteristics that define consumers’ buying motives are endless. Some can be measured down to the income, social class, the standard of living, educational background, the social status of the consumer; peer influence etc.
For someone whose income is low, he has no room to make for discretionary spending. So, you know that your product will be of no use, except there’s an urgent need to purchase it.
On the other hand, one who has lots of extra cash to spare may not think twice. What will most likely be considered by that consumer is how your product will match up to his standard, or how it will impress his peers.
If your product doesn’t meet his requirements, that would be a score down for your brand. And it’s not even guaranteed that the low-income earner would patronize either. That would be a huge loss!
To preempt these, what you should do is to conduct your research, making sure to tailor your products to fit the class you want to sell to. That would help your business in the long run, and put your brand in the know.
“Nobody counts the number of ads you run; they just remember the impression you make” –Bill Bernbach
- Psychological factors
Consumers are not all the same. Many people have different buying motives, and that influences their perceptions and attitudes towards products in the market.
For some, it could be that your product packaging lacks the quality/standard they are looking for. It could even be that your brand’s message is unclear and unappealing to them. And that’s not all. The reasons vary.
That’s why your job as a marketer is to appeal to your consumers’ motives. Find out what catches their fancy.
By setting out on a survey that includes a feedback process, organizing Q&A sessions, reviewing customers’ comments; you would be able to determine the perception of your product in the market. You would get to know what complaints they have and score against those complaints.
“People spend money when and where they feel good” – Walt Disney
- Personality factors
People will only feel connected to your brand when they can perceive that your moral or religious beliefs match theirs. More than that, other factors like age, background, culture, profession, humor etc. tend to draw potential consumers in. That’s when they feel most appreciated. It’s when they can hide under the umbrella of your brand, and trust your voice.
Then, you can bet that they would resonate with anything that’s affiliated with you/your brand.
Know, however, that your brand may not sit well with everyone and that’s okay. As far as you can sell your product to the majority, then you’re good to go.
CALL TO ACTION
“Marketing without data is like driving with your eyes closed” – Dan Zarrella
We understand the workload that goes with consumer behaviour researches. That’s why on our business platform; we created analytical, strategic plans that are just as convenient for everyone.
While we embark on the journey of surveying the market for your business, you can sit back knowing that the maximum results will be delivered to you.
At Rinet Limited, we break the rules and seize the market. By converting information into buying decisions, we can boast of excellence in our niche market.
Ready to outpace your competitors? Send us an email: [email protected], prepared to show them who’s boss.
THE END GAME
Consumer behaviour, though broad, comes down to the essential study of consumer buying decisions. Using the insights generated from the study through tools like keyword search, Google Analytics, Focus Groups and a host of others, will be a huge turning point for your business.
