Consumer behavior is the study of analyzing and looking at how individuals select and use products and services. Brand Marketers try to understand what influences consumers to choose between various options and this is when Branding comes into action. Brand influences Consumer’s decision in buying certain product. Consumer behavior can be influenced by many factors and marketers try to find and analyze these factors. These factors can be product price, design or the consumers Age, gender etc.
For a business person entire population on the earth is divided into 2 categories Consumer and Supplier.
For a positive growth of business all customers have to depend, directly or indirectly, on good and reliable suppliers.
- A) The Consumer expects overall attention and convenience in all departments to ensure smooth fulfillment of his needs. They want to believe that the supplier cares for them.
- B) On the other hand Supplier also have a right to get their needs met as they are ultimately motivated by profit. Good relationship with the supplier means reduced costs and process improvements for the marketer
Consumer looks at the supplier as a person who takes advantage and on the other hand supplier thinks consumer wants everything for free. (May not be true in every situation)
This can be prevented by positive Consumer-Supplier relationship which begins with the initiative of the supplier to demonstrate his sensitivity to the customer’s needs.
Suppliers also need to be getting profited by this relationship, they want to be known as the best in their deals so they count on consumer loyalty and satisfaction at all levels which benefits both of them.
They can be influenced by
1) Personal factors such as age, gender, education and income level.
2) Situational factors such as physical surroundings at the time of purchase, social surroundings and time factor
3) Social factors such as social status, reference groups, religion and family can influence the purchase
4) Product factors .like product design, price, promotion, packaging, positioning and distribution.
Hence your product / service maybe same but every customer’s need to buy your product varies. When you pitch your product to a customer they may think you are trying to solve his problem and some other customer may think you are pushing your idea to make money for yourself.
Globally there are many studies to understand about consumer behavior. The motto of these studies is to understand the behavior of consumer and how to influence them to buy your product or service.
Branding is one of the most important factor to influence the consumer behavior
Brand holds a great importance in consumer’s life. Consumer’s choose brands and trust them the way they trust their friends and family members to avoid uncertainty and quality related issues
Branding is a process where design and decision are made based on the Research and the inputs from the business owners. This Market research helps to understand the reasons consumers will buy your product. It studies such things as consumer behavior, including how cultural, societal and personal factors influence that behavior.
As long as humans are recognized by the emotions that they carry, it’s possible to influence their behavior. Customer can be influenced by inner factors that are personal thoughts and feelings, including perception, self-concept, lifestyle, motivation, emotion, attitudes and intentions and that is what exactly branding is all about.
Branding plays the role of the key to unlock the 5 senses of human beings
Brand Marketing campaigns influence purchasing decisions a lot. If done right and regularly, with the right marketing message, they can even persuade consumers to change brands or opt for more expensive alternatives. A good marketing message can influence impulse purchases. This also helps decide your consumer behavior.
Since market conditions are constantly changing, the new role of Branding is more important than it ever was. It is very important that enterprises manage their brands so they can flexibly fulfill desires and wishes of their customers.