Consumer behavior and marketing Report
It is also important to note that customer behavior is very complex by the fact that each customer has his or her preferences as far as buying a particular product, consumption and disposal are concerned. Therefore a good understanding of consumer behavior concepts and theories is very essential in marketing the product successfully. Also, understanding consumer behavior is important in various ways. First of all, there is always changing regarding fashion, technology advancements, changes in living standards and trends. Also, the customer’s attitude towards the purchase of a certain product changes over time. HONDA is known for producing quality and affordable motorcycles which meet the current trend. The company produces various categories of products to meet the varying needs of their customers.
One of the best brands of Motorcycles produced by the company is the HONDA CBR 250R. This is a great bike, easily affordable and with many beautiful features. It a good motorcycle for tours and urban travel. The HONDA Company is looking forward to market this product and increases their sales. It is anticipated that this product would create customer satisfaction which will later lead to customer loyalty. The company is looking forward to achieving its objectives of keeping the already existing customers and getting the new ones through customer satisfaction. Consumer behavior theory This theory advocates the idea that there are certain factors and processes that determine how a consumer makes the purchasing decisions. It therefore shows how the marketers make use of predictable behaviors to conduct business.
When they continuously use the product and feel contented with the outcome, they get the long-lasting positive attitude. The positive attitude automatically leads to more sales through maintaining already existing customers and creating new ones (Ramaswami,et al. pp780). Culture Culture is a very important element in determining an individual behavior and wants. According to various studies conducted, it is evident that culture, subcultures and social class greatly influence the customer buying behavior. A customer will likely buy a product that is likely affordable depending on his or her financial capability. Among many buyers, Money is the purchasing power since everyone needs value for their money. The marketers, therefore, should ensure that the value of the product meets the expectations of the buyers.
When the prices of the products match their value, then customers will develop customer loyalty. This would easily maintain the existing customers. This also involves the quantity and quality of products. People from high class tend to buy expensive and quality products because they have the huge financial capability and can comfortably afford without strain. On the other hand, people with low-class status purchase low-quality products and mostly focus on quantity and not quality. They purchase for purposes of survival, unlike high class who purchase for comfortability. Social class is the major influence on customer purchasing decisions (Dubois,et al. Perception This refers to how the customers view a particular product. It majorly relates to the quality of the commodity, whether it is reliable and whether satisfaction for good value for money is concerned.
When the customers feel their needs have been met fully, their perception towards the product will be good and they will endeavor to purchase more. Perception is directly linked to customer loyalty, and it’s built over time (Horner,et al. pp32). Unfortunately, this marketing strategy is not effective since it has not yielded the expected net profit. Hence there is a need to device better strategic recommendations (Solomon,et al. pp23). Strategic Recommendations According to research, many businesses value loyal customer’s more than new customers. This, therefore, ensures that company adheres to keep their loyal clients, unlike the one-off clients. On the other hand, the platinum rule which is mostly applied in communication advises marketers to interact with people the way they would like.
This is to mean that if a customer contacts you through an email, you should also reply using an email. When a customer communicates through the social media, reply through the social media. It is also important to note that when you fall out with a customer, you should be able to learn something from that scenario. It is not recommended to continue making follow-ups with the aim of mending the relationship since the chances are normally very low of retaining such a client. They can surprise the customer by attending his or her graduation ceremony or job promotion. When they make such visits, they accompany themselves with gifts to give their client. This will solidify the relationship with the client since not many alternative competitors can do that (Grant&Robert M,pp18).
Rewarding Loyalty customers Another strategy that can be used to achieve customer loyalty is rewarding the customers who have existed for some time. This will boost their morale and build a much stronger relationship with the organization. McGraw Hill, 2016,pp20-24 East, Robert, et al. Consumer behaviour: Applications in marketing. Sage, 2016,pp12-16 Solomon, Michael R. , et al. Consumer behavior: Buying, having, and being. Harmeling, Colleen M. , et al. "Toward a theory of customer engagement marketing. " Journal of the Academy of Marketing Science 45. Vivek, Shiri D. " Proceedings of the 1990 academy of marketing science (AMS) annual conference Springer Cham, 2015,pp50-55 Dubois, David, Derek D. Rucker, and Adam D. Galinsky "Social class, power, and selfishness: When and why upper and lower class individuals behave unethically.
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