The study of consumer behavior, their opinions, attitudes and needs can increase the level of sales of goods. There are several types of buying behavior that explain the actions and reactions of customers. Based on the model of consumer behavior, the company chooses the appropriate marketing strategy.
Consumer market
The consumer market includes the totality of consumers of products or services, as well as the relationship between buyers and sellers in the market. The financial stability of the enterprise is dependent on consumer demand, preferences and opinions of consumers about the product or service.
The consumer market is characterized by spontaneity and unpredictability, because a whole range of factors influence consumer behavior. Consumer demand is volatile and unstable, and also difficult to predict.
Having planned a certain volume of sales of goods in a particular period, the enterprise is not always able to implement the plan. Sales may fall because a competing company has appeared on the market, offering consumers a similar product at a lower price.
The reason for the rejection of the purchase of goods by customers may be their frugality, negative opinion about the company, the mismatch of consumer properties of the goods to the needs. So, a consumer may refuse to purchase a product because he considers it unreliable or unhealthy.
Various factors influence consumer opinion on a product. Unfavorable customer reviews about the product, the dubious reputation of the company on the market and other negative information can shape the attitude of consumers to the product. Therefore, the company's management pays great attention to the analysis of consumer needs and the study of consumer behavior in the market.
