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Businesses can analyze how consumers make choices and can use this to create successful marketing strategies for the goods they want to sell. [Author] [Institution] Introduction Businesses form marketing strategies in order to reach their targeted customers for the goods that they want to sell…
At many times, it has been observed that businesses believe in many other important factors other than consumer behavior to create successful strategies, such as innovative products. Both the perspectives can be analyzed to conclude that whether consumer decisions and behaviors should influence the marketing strategies or not. Consumer buying decisions may be used by businesses to create successful marketing strategies, but at the same time these evaluations may result in risks and problems for the businesses. This report analyses the arguments provided by experts saying that consumer decisions and behaviors should be considered because they give an insight to the marketers about their potential buyers, while others argue it should not be considered as business marketing needs to be rather innovative; however there has not been any clear conclusion to the discussion as both aspects have their own positive and negative points. Many of the business analysts favorably suggest that consumer decisions should be evaluated, examined and analyzed to set successful marketing strategies. This is because the customers are the major assets of the business as they enhance the growth, sales and profits of the business (Cheverton, 2005, p. 125). ...
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