Discuss How Consumer Behavior Is Defined. What Are 4 Major Uses or Applications of an Understanding of Consumer Behavior? How Can This Understanding Be Used to Develop Marketing Strategy?

Topic: Consumer Behavior

Question/Prompt: Discuss how consumer behavior is defined. What are 4 major uses or applications of an understanding of consumer behavior? How can this understanding be used to develop marketing strategy?

Consumer behavior can be defined in terms as the study of understanding the decision process of a buyer, which encompasses not only individuals but also groups of consumers and even organizations. The decision process of consumer behavior is what people want and need and how each consumer engages in the decision process to obtain that wants or need. The resulting purchase, from the decision process, not only impacts the consumer and the seller but also the economy. The study of consumer behavior works to help businesses develop, improve and understand market strategies and the issues involved, which ultimately can influence the consumer purchase behavior.

Consumer behavior will also be affect by external and internal influences of current mood or emotions, family, friends, market trends, environment and culture. Consumer behavior can also influenced by how much information knowledge is available, the importance of the purchase decision and the persuasion of either logic or emotion. How we learn to process and gain information from our family, friends and environment will also affect our behavior when in the decision processes.

"The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society." (Mowen) From this information, Mowen speaks to how the behavior is influenced by friends and those in some type of decision making power. This can be parents, family or the decision maker in a group or at work. Working on the consumer behavior influence is how the produce is made to determine the decision process. This could involve the...