Understanding Customer Behavior – The Key To Business Success

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Understanding customer behavior is an indispensable factor in determining the success or failure of business strategies and marketing strategies.

Moreover, understanding customer behavior helps your brand get closer to everyone.

1. What Is Customer Behavior?

There are many definitions of customer behavior, however, it can be summarized as:

  • Customer behavior is the thoughts and feelings of people in the process of shopping and consumption.
  • Customer behavior includes activities: procurement, use and processing of products and services
  • Factors such as comments from other consumers, advertising, packaging, appearance, the price information can all affect the feelings, thoughts and behavior of customers.

Customer behavior is a series of psychological reactions, from thoughts, considerations and actions of consumers since hearing of products until deciding to buy, use or remove products, translate service.

This chain meets most of the customers, tends to repeat with many different products.

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Advertisers need to carefully study customer behavior in order to capture their needs, preferences, and shopping habits to develop appropriate marketing strategies and sales strategies, thereby adjusting and advancing for customers to purchase their products and services.

2. Factors Affecting Customer Behavior

The weaknesses affect customers’ purchasing decisions very diverse and complex. However, there are still some basic factors that make customers buy or not buy products or services.

First of all, it is important to understand that shoppers are comfortable with their own needs or those around. These may be basic needs, need for use or need to own what they want.

During this period, psychological factors such as shopping motives, perceptions, beliefs and attitudes have a great impact on shopping needs and intentions.

Other personal factors such as age, gender, occupation, income, lifestyle and external factors such as family, social status, the geographical area also contribute to decisions and behaviors each individual’s shopping.

In addition, in the era of explosive information today, reference groups are also factors that marketers should note.

This group may come from outside relationships of customers such as friends, colleagues, relatives… Or other consumer comments they don’t know.

These agents may come from advertisers, word of mouth, from experts, celebrities,…

3. To Get The Key To Success

On the basis of understanding psychology as well as the tendency of selecting customers’ products, enterprises can develop appropriate brand identification strategies, set effective price policies.

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When researching past customer purchasing behavior data, management can forecast the company’s revenue in the future, as well as gain a deeper understanding of the impact on customer behavior.

In addition, marketers should also consider whether customers can see the benefits of the products they have purchased (including social benefits, if any).

Not only that, how does it feel, appreciate after purchasing and using customers also decide to return to their shopping and word of mouth information about other customers.

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