An analysis of the importance of consumer behavior.
Written in 2006; 908 words; 4 sources; MLA; $ 32.95
Paper Summary:
This paper discusses how the study of consumer behavior helps organizations improve marketing strategies by understanding how certain issues such as buyer psychology and behavior affect purchasing decisions. By understanding the consumer, organizations will be able to make more informed decisions as to which strategy to employ and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. This paper defines consumer behavior and provides an example of a consumer purchase demonstrating how each of the 4 Ps (product, price, promotion, and place) of marketing impacted the purchase.
Outline:
Abstract
Definition
The 4 P's of Marketing
Conclusion
From the Paper:
"One definition of consumer behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society" (Hawkins, 2004). Another definition according to the American Marketing Association is that consumer behavior is "the dynamic interaction of affect and cognition, behavior, and environmental events by which human beings conduct the exchange aspects of their lives." More generally, consumer behavior is the psychology behind marketing and the behavior of consumers in the marketing environment (American Marketing Association, 2006)."
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