Principle of Marketing for Consumer Behavior

Question: Discuss about the Principle of Marketing for Consumer Behavior. Answer: Introduction: The following document incorporates the factors that influence the consumer behaviors for buying of a product. Different dimensions effect the buying behaviors; this study has included all those dimensions. This report has mainly focused on the influencing factors that decide the reason why customers go for a product. If the company "Hello" wants that the customers buy their products they should conduct research that mainly focuses on the buyers approach those are responsible for buying behavior. The factors should involve cultural factors, social factors psychological factors and personal factors. For the cultural factors, the practice and beliefs of the buyers can be considered because it influences the perspective a buyer posses towards a product. Social factors involve reference groups, family and social class that helps the buyers to make any decisions about the buying of products. Psychological factors are motivation, perception and attitudes of a buyer before buying (Solomon, 2014). Personal factors are also valuable in case of the buying of products; dimensions of individual factors are occupation, age, personality, economic condition and lifestyle. If these attributes are kept in mind during the research on the matter of buyer's behavior on buying the new products of telecommunication com pany Hello, research outcome can validate the strategies they should adopt for the marketing and promotion of the new products. This part describes the consumer decision process that is followed by the customers while they tend to buy a product. The customers follow different steps before they take final decision of buying. The decision making steps include: Recognition of the need: As mentioned by, Muruganantham and Bhakat (2013), a customer will never buy a product if he does not have the need of the product; thus, recognition of the need is the most crucial step in the decision making process. Information Research: This approach involves searching for both the internal and external sources of information that justify their need of buying a product. Evaluation of alternatives: This approach is influenced by two measures, i.e. attitude and level of involvement. The attitude of a buyer towards a product helps to decide whether to like or dislike a product and he should move forward with the preferred product or should go away from it. If a buyer is highly involved with a particular product; he will evaluate other brands and their products to get wanted one. Otherwise, a single brand can be evaluated when the involvement is low (Solomon, Russell-Bennett Previte, 2013). Purchase decision: This is the stage when the customers take the decision of buying products. However, according to, Lysonski and Durvasula (2013), the decision can be interrupted by several factors like unanticipated factors and negative feedback from other customers. Post-purchase behavior: This stage is critical because after customers buy the products, they tend to compare the products whether it has managed to stand up to the expectation; thus, it has an impact on the customer retention. Conclusion: Hence, this study can be helpful for the company "Hello"; because the information, provided in this report has given a detailed account of the factors that influence customer's buying behavior. Moreover, explanation on the decision making process has been done so that the company can successfully promote their new product. Reference list: Lysonski, S., Durvasula, S. (2013). Consumer decision making styles in retailing: evolution of mindsets and psychological impacts.Journal of Consumer Marketing,30(1), 75-87. Muruganantham, G., Bhakat, R. S. (2013). A review of impulse buying behavior.International Journal of Marketing Studies,5(3), 149. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall. Solomon, M. R., Russell-Bennett, R., Previte, J. (2013).Consumer behaviour: Buying, having, being. Pearson Australia.