APPLICATIONS OF CONSUMER BEHAVIOR | CONSUMER BEHAVIOR APPLICATIONS | USAGE AND UTILITIES OF CONSUMER BEHAVIOR

APPLICATIONS OF CONSUMER BEHAVIOR

Analyzing Market Opportunities: The first application of consumer behavior is helpful to identify the needs and wants which is not fulfill. This is done by examining the changes in trends like a change in income, change in fashion. As well as the change in consumption patterns and change in the lifestyle of consumers. The trend of working class changes now the many working women are together at work. They have no time many things are equally important as certain gadget washing machine etc which has more demand.

Helpful in non-profit and social marketing: The knowledge of consumer behavior is helpful in marketing for non-profit or social marketing purpose. On the other hand, Information provided by various authorities like government organizations. There are also trusts, and as well as NGOs are together with the study of consumer behavior. The income tax authorities also perceived in a negative manner by the common man who fears them and views them in a suspicious light. Then to overcome this poor image, it gives advertisements on TV and in the newspaper.

Selecting the target marketing:  The study of consumer behavior helps in selecting the target market that helps of consumer behavior. Marketers also decide which market should they target. A study of potential consumers for toothpaste revealed that there was a class of consumer who likes to use particular products and another group not liked for any reason.

Helpful in making marketing strategy: Strategy is made on the basis of consumer needs. It is important to provide customer values. Similarly, the marketing strategies are 4Ps which are mention after the analysis of consumer behavior.

Related topics:

Consumer behavior and its importance in marketing

Needs and importance of consumer behavior in an organization

Disciplines of consumer behavior as a subject of study

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