Market your products with this single lethal weapon.
Knowing why consumers are buying what they’re buying is the best way for you to know how to market your product in a way that’s going to make it sell.
You’re standing in the makeup aisle, looking around in wonder. How are you supposed to know which mascara will add length and volume to your lashes, which foundation and powder won’t cause breakouts on your typically oily skin, and which lipstick and eyeshadow shades will last throughout the work day? You stand there for at least 20 minutes, looking through dozens of options for each product. At some point, you are going to have to make a selection. When you do finally pick up that item and put it in your cart, are you able to pinpoint why you chose the product you chose? This very question is the basis for an entire field of research within the marketing world: consumer behavior in marketing.
Why is it Important for Marketers to Understand Consumer Behavior?
So why do we study consumer behavior? The answer is quite simple: if we know WHY consumers choose the products they choose, we have a better chance of gravitating them towards our products. For example, there’s a sudden sharp uptick in the sales of Rice-A-Roni. For some unknown reason, grocery stores are having trouble keeping the boxed food product on their shelves. A little bit of research into why consumers are suddenly stocking their cabinets with a food item that’s been around for years reveals a pretty hilarious YouTube video that’s gone viral in which “the San Francisco Treat” is a must have staple in a famous reality star’s diet. You could then hypothesize that a large number of consumers want to stock their kitchens with the same products their favorite celebrities are using.
The reasons for studying consumer behavior go far beyond figuring out why people are buying up all the boxed rice in your local grocery store. The role of consumer behavior in marketing is huge in that you can better meet the needs of your customers and prospective customers if you know why they’re buying what they’re buying. And if you can answer that question, then you can better market your products.
If you own a retail business, spend some time in the showroom. Watch as your customers stand before a selection of any product. Pay close attention to their mannerisms and where they avert their eyes. Do they pick each item up and read the labels? Do they simply choose the least expensive option? Or do they go with the product in the bright, shiny packaging? Consumer habits and behavior can help you create a better layout for your retail space as well. Just one example of this? Strategically place a smaller, more accessible item near the cash register and watch as it sells like never before.
Importance of Consumer Behavior in Modern Marketing
How are young people accessing what’s going on in national news? Where did they hear about the massive drug bust in the next city? How did they find out about Kim Kardashian’s latest antics? The answer to all of these questions: social media. Gone are the days of sitting down in the morning with a cup of coffee and the freshly delivered local newspaper. These days, people are on their phones before they’ve even brushed their teeth. Therefore, if you want to market in the modern age, you’ve got to have a social media presence.
The importance of knowing and understanding consumer behavior in modern marketing is vital. If it’s bright and shiny that everyone’s after, give it to them. If it’s the right influencer marketing strategy using a popular personality, go for it. Knowing what your customers want and why they’re buying what they buy will tell you everything you need to know about how to complete a sale.
The consumer buying decision process and consumer behavior analysis are the keys to knowing how to market your products in a way that’s sure to draw a sale. Put your product next to dozens of others and with the right packaging, advertising, and placement, it’s going to be the one consumers choose every single time.