Essay Sample on Marketing: Buying Behavior

In today’s fast-paced and globalized economy, any organization's growth and survival are dependent on the ability to delight and satisfy customers (Pelau et al. 2018). Consumers around the world vary in income, educational level, and age. Consumers' decisions are guided by the world's elements around them and how they relate with each other. Every day, consumers make buying decisions. Buying decisions are the focal point of a marketer’s effort. Often, consumers do not know what influences their buying behavior (Udo-Imeh, 2015). How consumers respond to marketing depends on the marketing stimulus. The marketing stimulus consists of four P’s.; promotion, price, place and product. Besides, factors like cultural, social, economic, and political factors influence consumers’ buying behavior.

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Marketers should be aware of cultural factors affecting consumer behavior. Culture is the main factor that influences a person’s behavior and desires. A cultural shift towards health and fitness creates an industry for health and fitness services (Pelau et al. 2018). Social class is another important factor in marketing because of people in the same social class exhibit similar buying behavior. Also, economic circumstances affect consumer behavior. Marketers approach tough economic times through the discounted process, offers, and value messaging where consumers pay less and get more value. Also, lifestyle concepts help marketers understand consumer behavior and their changing values. Perception is also involved in purchasing, and it influences the purchasing decisions of consumers. Perception is how consumers view media messages, perceiving what they want, and disregarding the rest. Expectations, learning, and memory influence selective perception. Psychological factors also play a role in influencing purchasing behavior, an example is motivation. Thirst, hunger, and biological factors can motivate a person to seek satisfaction (Pelau et al. 2018).

Understanding marketing behavior is crucial in creating value for customers. Such value translates to loyalty and sales (Udo-Imeh, 2015). Apple is an excellent example of a brand that is doing well in retaining customer loyalty. Apple brand has some of the most loyal customers; only a few brands engender loyalty found at Apple users' core. Part of loyalty is based on the quality of the equipment. Also, another reason why consumers buy Apple products is that Apple is part of their lifestyle and self- expression.

To sum up, researchers have tried to explain the decision-making process of consumers. Understanding decision making is crucial to adjusting the marketing strategy of any company to maximize returns. Without this understanding, no company can satisfy the needs of consumers.

References

Udo-Imeh, P. T. (2015). Influence of personality on the buying behaviour of undergraduate students in universities in cross river state, nigeria. International journal of marketing studies, 7(4), 64.

Pelau, C., Serban, D., & Chinie, A. C. (2018, May). The influence of personality types on the impulsive buying behavior of a consumer. In Proceedings of the International Conference on Business Excellence (Vol. 12, No. 1, pp. 751-759). Sciendo.