Relate consumer behavior to marketing.
o Define consumer behavior, and how it relates with the subject of marketing.
o Select a purchase you have made recently and describe in detail how each of the 4Ps, product, price, promotion, and place, affected your purchasing decision.
o Cite at least one outside reference.
Marketing is the process of identifying consumer groups and habits for the purpose of selling to those groups effectively. Consumer behavior involves “the psychological processes that consumers go through in recognizing needs, finding ways to solve these needs, making purchase decisions (e.g., whether or not to purchase a product and, if so, which brand and where), interpret information, make plans, and implement these plans (e.g., by engaging in comparison shopping or actually purchasing a product)” (Consumer Behavior, 2008). In other words, consumer behavior is made up of certain specific patterns that can provide marketers valuable information when attempting to reach out to those consumers and get them to purchase their products and/or services. Research shows that consumer buying habits have been changing significantly over the years. This is mainly a result of increased technology, access to new technology, and uncertain world events (i.e. 911 attacks) and their impacts on new generations. For this reason it is important to understand consumers’ buying habits and changes in those habits as well as the best marketing techniques to use in order to sell to these consumers. Consumer buying habits can be grouped into five categories:
1. Birth to 12 years old-Called the “sub-teens” group. This segment is interested in electronic and fashion. This generation has the potential to become the most progressive and demanding group of consumers. Marketing to this ...
The solution groups consumer behavior into 5 categories and relates personal purchasing decisions to each of the 4 Ps - production, price, promotion and place. 964 words with 2 references.