Marketing and Pricing - страница 7

To have a more detailed approach to the problem of the study of market demand, it is necessary to study the impact on sales and consumption of such factors as: price, income, consumption patterns, etc. The above approach can also be used to predict the demand.

Purchasing behavior (concumer buying) is the buying behavior of individuals or families who acquire goods and services for personal consumption.

Every day consumers make a lot of decisions what to buy. Most large companies explore the process of making decisions about the purchase, to find out what, where, how and how much, when and why consumers are purchasing. Marketers are also studying this process, but they are interested in the answers to the questions what, where and how much.

However, to reveal all the secrets of buying behavior is very difficult, because the reasons for decisions are often hidden away deep in the consumers subconscious.

The main issue of marketing is how different buyers react to marketing techniques? The company who really understands how consumers react to the different qualities of the product, its price and advertising, gets a significant advantage over competitors. The starting point is a model of consumer behavior «motivation – reaction». It is clear that marketing and other incentives penetration-cabins in the «black box» of the consumer and generate a response. Marketers need to find out what is hidden in the «black box.»

Consumer market are individuals and families who purchase goods and services for personal consumption.

Marketing stimuli consist of the four elements, the so-called «Four P»: product, price, place and promotion. Other factors depend on the environment surrounding the buyer: the economy, technology, politics and culture. All of these components fall into the «black box» of the consumer and are converted into an aggregate of the observed reactions: product selection, trademark, trade an intermediary, the time of purchase and the purchase volume

The buyer’s choice is heavily influenced by cultural, social, personal and psychological factors. Although the marketer cannot affect on many of them, but by using them, it can determine the interested buyers and simulate product to meet their needs better. Marketers need to approach the process of analyzing user behavior with extreme caution.

Most companies are scrutinizing the process of deciding whether to buy in order to answer the following questions: what, where, how, how much and why consumers buy. Marketers can study consumers purchasing to answer questions about what is bought, where and how much. But the study of the causes of consumer behavior and the process of adoption of solutions is not an easy process, as the full answers are hidden in the consciousness of the consumer.

Now we are ready to consider the steps that take place when the buyer is in the purchase decision. The are five stages: awareness of the needs, information search, evaluation of options, the decision to purchase and reaction to purchase. It is obvious that the process begins long before the purchase factor is the acquisition and does not end this moment. Marketer has time to understand the process as a whole and not focus solely on the decision.