- Business and Employment
Understand Your Consumers to Boost your Pipe Selling Business
Marketing a pipe business should be straight forward. You craft a great sales pitch and post some pictures of the pipes you are selling and, voila, customers start rolling in. Except, today’s consumer isn’t that easy to hook and the competition doesn’t make it any easy.
A 2017 research by PwC global established that business establishments that rightly predict trends in consumer behaviors are better placed to cope with changes in consumer behavior, whether small or large. What does this mean?
That unless you base your marketing strategy around consumer’s culture, social, personal and psychological spheres, you are bound to lose to your better placed competitors. Herein are strategies you can use to unravel consumer behavior and buying patterns as well as practical tips on how to use the resulting patterns to the good of your marketing endeavors.
An Overview of Consumer Behavioral Patterns
As you can attest to, consumers base their buying decisions past interactions, their needs and preferences and, in a small way, the attachment to a product or service on offer. Studying consumer behavior, then, entails, evaluating the processes and metrics that influence consumer decisions in the market.
Have an in depth understanding of consumer decision making patterns prepares offers you a chance to expand your business territory by anticipating and responding to shifts consumer needs.
Factors that Influence Consumer Behavior
Interactions with acquaintances, family members and even colleagues at work impacts on how an individual executes their buying decisions.
A consumer living in an affluent neighborhood, for instance, is likely to base their buying decisions on their social class, living conditions and, possibly, perception by other community members.
These are characteristics specific to an individual and which influence their choice. Such traits include opinions, personal interests, perceptions, culture and even personal issues. Other determinant factors include age and gender.
Attitude, ability to learn and discern situations and perception of needs can shape the response a consumer has towards a given marketing gig. As a marketer, then, it’s paramount to factor in such factors as attitude so as to appeal to as many consumers as possible.
While each of the factors above plays a role in consumer behavior, social dynamics have the greatest impact on consumer behavioral patterns.
How to Track Consumer Behavioral Patterns
So, how do you evaluate consumer trends in the market and develop behavioral patterns? Well, the three models below will guide through this involving process. Check them out.
Using a personal-variable model
This model seeks to unravel internal factors that can affect purchase decisions and overall consumer behavior. It’s basically the sturdy of personalities, individual lifestyles and motivation factors in a given individual.
Employing the stimulus-response model
The model is based on factors outside of the consumer’s thought process. This model ignores rational decisions made by consumers and lays more emphasis on stimulus that result to a different output. If you opt to employ this model, then your arguments should be built around market variants such as competition, economic status, technology, change in prices and product promotion.
Applying the comprehensive model
This model is ideal especially in a competitive market. The model marries environmental and internal factors that influence a consumer’s buying decision. You can use this model to test how a given stimuli, such as discounting goods, can influence a consumer’s behavior.