Importance of Consumer Behavior in Marketing Trends
May 18, 2022
Examining consumer behavior is crucial as it helps marketers to fathom the needs of their buyers to enable influencing customer purchase decisions. It would be a failure for a business if it is unable to meet the demands of its consumers as every customer holds varied opinions about the products. As the market trends, technology, lifestyle, income and various aspects are changing, marketers need to focus on enhancing their strategy to influence consumer purchase positively.
Though in the past, consumers only sought fundamentals including quality service and fair pricing, today, their expectations have grown. They want hands-on service, custom-made communications, and connected experiences across all digital channels. Consumer behavior also brings long-term sales stability by including personalized ideas and features which will benefit the consumer. Moreover, 76% of consumers today expect consistency in communication with marketers. And, 71% believe that the purchase decision was based on the quality of their experience. (Source: Salesforce) It is therefore pertinent to better understand how consumer expectations are changing.
How Consumer Behavior Impacts Marketing Trends
The market is adopting new strategies to fulfil the needs of its customers to retain and sustain consumer loyalty. However, due to consistent noticeable changes in the behavior of buyers, marketing trends will affect the marketing system considerably. There are various patterns that the consumers are required to consider while examining the behavior factors to encourage consumer purchase.
Home Bound Purchasing
Post-pandemic, consumers are more aware of the online portals which will enable their research in finding the right products and services for their specific requirements. With the use of the internet and advanced technology, buyers are inclined towards finding the right brand and its products or services within a few clicks. Hence, marketing professionals need to be more profound while studying the internet search patterns, price preference, and highly used digital platforms to make the final purchase decision.
With consumers selecting brands to meet their needs, conscious consumption plays the role of deciding who to buy from rather than what to purchase. In the modern shopping era, consumers are more inclined towards the climate and social factors. Ensure providing sustainability to your customers in various aspects that attract your audience. Offer value to the interests as well as the likes and dislikes of your consumers to offer enhanced value to the factors suggested to improve by your uses.
Factors & Patterns Affecting Consumer Behavior
Some of the factors that impact the customer purchase behavior are safety & trust, decision-making process, and influence. With the increase in digital market and purchasing options, consumers are inclined towards the safety measures taken during online transactions. Social media also plays a crucial role in enhancing brand value by curating strategies that meet the demands of the customers.
Alternatively, consumer behavior also relies on psychological, personal, social and cultural factors. The modern era enables consumers to examine brands based on these aspects as well while making the final purchase decision.
Several of these marketing trends were preexisting in the process of influencing the consumers for their purchase. However, after the pandemic, there has been an increase in the same and it’s expected to sustain the competitive market system. The only aspect that connects the market trends to consumer behavior today is the convenience provided to users through the brands.
Author: Ashwani Arora