Buyer behavior

Buyer Behaviour s Submitted by s: How understanding and interpretation of the consumer decision-making process might influence thinking in the future
It is natural for businesses to seek to be successful and most of them work hard in order to achieve the success they desire. Understanding the buying patterns and behavior of customers is among the elements that are important as far as achieving success is concerned(Reynolds & Olson, 2000, p. 120). In the event that the buying behaviors of customers are not understood, the business will experience challenges in gaining more customers particularly in the current competitive environment. Understanding the behaviors and patterns of the customers is also helpful when a business wants its customers to make more purchases. Once the customer decision making process of the customers is understood, it becomes relatively easier to develop a customer profile as the customer’s decisions to buy specific items are rationally and emotionally influenced. In the process of making their decisions, customers consider categories based in rationales, and they may make a decision, particularly in the case of repeat customers, based on the brand or based on emotions. The decision making of customers can assist the business to ensure that they have an emotional attachment to the brand which is among the key elements that build brand loyalty(Wright, 2006, p. 27). Additionally, it is also among the key factors in obtaining recommendations and referrals, and when seeking more customers for the business, it is relatively easier to choose the best marketing strategies when the business has an understanding. Understanding the manner in which customers make decisions assists business in various ways in its future operations as it seeks to be successful.
Understanding how customers make decisions makes it easier for the business to comprehend rational and the emotional reasons that affect customers and thus the business can make decisions based on this (Lamb, Hair & McDaniel, 2009, p. 140). For instance, a customer may have tax issues and be in need of advice making their situation acute, thus they will seek a business that provides peace of mind and assists them to worry less. If the business understands the manner in which the customers make their decisions, it will be easier to come up with ways that will ensure they are at peace. This is because the emotional reasons of the customers have a higher influence on the manner in which they make decisions compared to price.
Understanding decision making process of the customers is also important for the business as this will assist the business as it makes plans on timing of strategic market decisions(Schultz, 2009, p. 47). For instance, if customers make purchases one in a month, then if a business markets itself through email, then it can make the decision to send the customers its offers when the time when they make purchases. The knowledge of how often customers make purchases may also be helpful when the business is making the decision on the form of product or service to offer in respect to the decision making process of the customers(Hoyer &MacInnis, 2010, p. 229). Interpretation of customer decision making process may also assist the business to know whether customers are making purchases on behalf of other customers with a classic example being mothers who purchase products for their children. The people who consume or use the particular services or products may have a significant influence on the buyer’s decision making process and therefore the business needs to consider the two when making their marketing decisions.
When the decision making process of the customers is understood, it also makes it easier to identify the specific products and services that are bought regularly especially in a case where the business deals with a variety of commodities. This understanding is integral to making strategic decisions for the business such as whether to maintain an entire variety or concentrate on specific products. Additionally, understanding the decision making process of the customers will assist the business to identify where they customers prefer to make their purchases and thus make plans to have products available at this locations and improve the key channels for more efficient delivery.
References
Hoyer, W., &MacInnis, D. 2010, Consumer behavior, South-Western Cengage Learning, Australia.
Lamb, C., Hair, J., & McDaniel, C. 2009, Essentials of marketing, South-Western, Mason, Ohio.
Reynolds, T., & Olson, J. 2000, Understanding consumer decision making, Lawrence Erlbaum, Mahwah, N. J.
Schultz, D. 2009, Building customer-brand relationships, M. E. Sharpe, Armonk, N. Y.
Wright, R. 2006, Consumer behavior, Thomson Learning, Australia.