Customer behavior relates to how individuals and organizations select, buy, use and dispose of goods and services to satisfy their needs and wants.
Customer buying behavior is influenced by a number of factors which include cultural, social and personal factors. Understanding these factors will enable you tailor your goods and services to suit them. It will also help you understand what influences customers buying patterns and how you can use this information as a tool to fight off competition. It is also a potent tool for developing a marketing strategy for gaining market share.
Culture:
Culture has been widely described as the way and life of a people. It is a fundamental determinant of a customer’s wants and behavior. It is a fact that the environment we live in plays a large role in influencing our customers way of life and indeed customer buying patterns. Cultures are often defined by geographic locations, nationalities, ethnicity, race, religions, professions, groups, organizations etc. It is therefore no wonder that smart companies design specialized marketing programs, goods and services to meet the demand of sub cultural groups which have grown large enough to form a sizable portion of the market share. Organizations must therefore redesign their products and services to suit the peculiarities of all markets while taking into consideration differences attached to geographical locations, nationalities and the like. Marketing efforts should also be packaged to demonstrate the peculiarities of a product or service to the target markets culture.
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