Consumer behavior is very broad: it studies the processes involved in the choice, purchase, use or abandonment of products, services, ideas or experiences by individuals or groups to satisfy their needs or desires.
A consumer study focuses on decision-making processes, behavior at the point of sale, reactions to marketing and advertising, and actions in the area of loyalty.
Understanding consumer behavior relies heavily on psychological techniques, qualitative and quantitative research, and point-of-sale studies.
Importance of knowing consumer behavior
One of the basic principles of marketing is to satisfy customer needs . This is only possible if you know the people or companies that will use the products or services you are trying to sell.
Here are more reasons why it is important to know consumer behavior:
Advantages of knowing consumer behavior
Create a better relationship with the customer
Do you know the true value of customer retention ? Entrepreneurs who are able cameroon phone number to retain their customers and create better relationships, manage to obtain a better image of their company. A loyal customer is a propagator and a thermometer of your brand.
A loyal customer carries the name of the company and promotes marketing to their acquaintances, friends and family. For these reasons, retaining the largest number of customers should be the goal of entrepreneurs interested in growing their company in the market.
Here's more on the importance of understanding the purchasing decision process .
You generate more clients
By understanding consumer behavior, loyalty is generated between the consumer and the company, which will lead to higher sales figures and a greater market share .
Better define the potential client
A company always works to satisfy specific market niches . Even if the company operates in various sectors, for each of them there will be a potential buyer that stands out, and this is the reference that entrepreneurs should look for.
Knowing who you are selling to makes it possible to clearly define your market objectives.
Therefore, knowing consumer behavior helps define the main clients or protopersonas that reach the company directly.
Your inventory should be stocked with products that cater to these particular customers, as they are the largest buyers of your services or products.
Furthermore, being aware of who your main client is, leads you to propose more efficient marketing ideas , directly reaching the main consumers.
With insight into consumer behavior, you can save money and speak directly to customers more efficiently.
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