Information regarding individual differences can be used to know what group of consumers may be interested in what you have to offer, what group of consumers demonstrate similar individual variables to the extent that the same product or service will appeal to all of them, amount of money or level of interest these customers are prepared to spend or exhibit towards a product, and also what group of consumers may have similar attitudes and beliefs about the association between price and quality of the product for their own consumption experiences.Marketers can then use this information to break down all consumers into categories of potential buyers of the product or service based on their shared profiles or shared individual difference variables, hence achieving market segmentation.You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
In motivation, marketing literature demonstrates that consumers may be motivated to buy the Colgate brand due to internal stimuli search as personal convictions or due to external stimuli such as reinforcement from friends and family members.
Lastly, in beliefs and attitudes, consumers may be predisposed to positively or negatively react to a wide variety of stimuli (e.g., price and quality considerations) in making their purchase decisions.
Our academic resources are very effective for pupils in finding out how to write a consumer behavior essay that you can get a precise way of comprehending what will be required in this kind of writing.
The consumer behavior research essay must cover for all the parts of the original them that include the marketing and economics & psychology too.
Lastly, it can be argued that understanding the motivating behavior of market segments is fundamental in the process of enhancing the marketer’s capacity to develop an effective marketing strategy.
Indeed, understanding the motivating behavior behind the formation of any market segment not only assists marketers to understand the needs, demands, attitudes, values and beliefs of consumers toward a particular product or service, but also what could be done to the product or service (e.g., price or quality changes) to make it more appealing to the targeted segment.
The product selected is Colgate Herbal toothpaste, manufactured and sold by the Colgate-Palmolive Company (US).
In the context of consumer behavior research, it can be argued that the individual difference variables that inform my purchase behavior and decisions include personality, beliefs and attitudes, as well as involvement.
Additionally, it is important for marketers to understand the motivating behavior of various market segments as this knowledge will assist them in developing strategies that could be included in the marketing plan to ensure the product or service continues to gain a foothold in the targeted market niche.
For example, an understanding of the motivating behavior of various segments will assist marketers in not only identifying the key strengths, weaknesses, opportunities and threats that a product or service may face in the market based on consumer individual differences, but also in coming up with proactive solutions geared toward eliciting more product or service appeal from potential consumers.