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onsumer behaviour and decision making
Pages 10 (2510 words)
Consumer Behaviour and Decision Making Introduction Marketing is a concept that has emerged and evolved over years. There will be no other discipline in this universe that is as influenced and affected by the changes in the environment as marketing is. Sometimes, it takes years to observe a change in the marketing pattern…
It is only a few decades back that consumer behavior emerged as a highly specialized area under marketing. “Consumer Behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use.” (Management Study Guide, 2012) There wasn’t the concept of consumer behavior when Ford started making their cars on assembly line. The only color that the customers could get then on the car was black. But as and when industrialization happened and more and more products came into the market, companies started focusing on the desire and need of the customers. This became more important with the beginning of globalization and when companies started cross border business. The concepts that the marketers were focusing on was market segmentation, targeting and positioning. But in the recent years, the marketing practitioners are puzzled about these concepts. They are doubtful whether these traditional concepts are valid for current marketing environment. The objective of this essay is to analyse the situation in the light of these concepts in the current environment and advise the marketers for the best way to approach customers. Traditional Marketing Practices Segmentation, targeting and positioning are three core concepts of traditional marketing practices. ...
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