An exploration of modern-day consumer behavior, whereby consumers are buying what they want, rather than what they need.
Written in 2004; 2,143 words; 4 sources; MLA; $ 67.95
Paper Summary:
This paper examines the different aspects of consumer behavior in relation to the marketing strategies adopted by companies in the context of the present-day society in order to get a better perspective of the new-age customer. It examines issues such as consumer motivation, personality and consumer behavior, decision making processes, purchase behavior, post purchase behavior, customer loyalty, negative post purchase behavior, emerging trends and segmentation, and multiple sub-cultural consumers.
From the Paper:
"Consumer needs constitute the basis of all marketing strategies and hence the success and the profitability of a marketing concern largely depend on understanding and fulfilling the needs of the consumers. Motivation is the major driving force that impels consumers to act and so from the marketers viewpoint it is the starting point of understanding the consuming behavior. All consuming behavior can be categorized as falling into one of the following motives, as buying for "optimizing satisfaction", "preventing possible future problems", "escape from a problem", as a means of "resolving conflict" or simply to "maintain satisfaction". Needs are never fully satiated as once a want is fulfilled it is immediately replaced by another leading to a vicious cycle. Motivational research is aimed at understanding the consumer consciousness, which can be used as input in designing new and appealing forms of marketing strategies, which directly address the consumer motives. The underlying idea is that the marketing strategy should be viewed from the perspective of satisfying consumer needs rather than on the idea of selling the product. [Leon G Schiffman, 113] "
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