Paper Example. Understanding Consumer and Business Buyer Behavior

Published: 2023-02-15
Paper Example. Understanding Consumer and Business Buyer Behavior
Type of paper:  Article review
Categories:  Sales Human behavior Strategic marketing Customer service
Pages: 8
Wordcount: 1930 words
17 min read

Notably, there are many trends related to marketing, such as business buyer and consumer behavior. Over the last few years, a lot has changed in these two topics which has brought about a reason to research on it to get a better understanding of how they are related and connected. Although the relationship between consumers and sellers is the driving force for businesses, most investors have not incorporated the need to understand how these two disciplines correlate.

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Besides, it is essential in the progress of marketing, that is how both parties will benefit and that no issues of correlating to each other will be experienced, which is upright for the growth of the marketing industries. It is very beneficial to understand how these two disciplines work and it helps both businesses avail to their customer's needs. After taking full consideration of two articles and studying them exclusively, I understood the behavior of business and consumers thoroughly.

Besides, the sellers need to ensure they know what their clients want so that they can easily avail it to them and hence grow their businesses tremendously. In most modern world countries, the concept of consumers and companies is commonly used. However, it is viewed as quite significant, but that is not the case in third world countries which are having a significant problem in ensuring they fully understand the concept. New businesses have a big problem as they do not know what to accommodate into their plans and strategies of being unique in the market can pose a lot of questions. Among the problems experienced is the issue of getting to know the preferences of the intended people and getting a way to deal with them efficiently. It is hard to venture in any business without prior knowledge of what to expect as it will fail. However, there are various types of problems which are mostly handled differently, although most of them seem similar. A company must find a way to manage their issues so that they can easily progress and be able to satisfy both the consumers and business buyers.

Besides, further research has influenced my understanding more with the discovery of two articles which closely relate to my study. And both the articles used influence to better my understanding on consumer and also commerce buyer conduct. Both tend to create an understanding of how the two critical principles in study influence each other and make it easy to understand how they directly have a relationship. The articles carefully outline how consumers and business buyers compare and contrast while showing what is required by institutions to accommodate both of their views so that they can make more profits. Profits are what differentiate between a big and small or medium enterprise.

In most obvious cases, the marketers need to have a better understanding of both their intended and existing customers (Armstrong, Kotler, Harker, & Brennan, 2018). And this will, therefore, influence their decision so that they know which goods are more critical for sale and hence get to know which have more demand. Thus, customers and companies alike must have a way to understand the importance and benefits of working together. In most scenarios, both parties get an advantage.

In addition, there are so many other factors that influence the relationship according to the article. And the decision making of both sets of individuals is based on many other things. Arguably, the buyers may get influenced or affected by their culture, social background, psychological reasons, and other individuals. For example, most people get to know about the advantages or the product itself from their friends or family members (Armstrong, Kotler, Harker, & Brennan, 2018). It is very hard for old people to indulge in new ways which they have not experienced for most of their years. Thus, it is important for sellers to find a way in which they will easily convince them as it is all that they require. Hence, people tend to use the same products over the years as it is the only product which they have trust over the years. And thus, making it hard for new companies to have those same customers. It is hard to change someone preference, and therefore, businesses should have this in their minds so that they can efficiently deal with different problems which have posed a considerable challenge in the market. Therefore, a different understanding of behavior is essential as it is the only way to get advanced and compete with other companies fully.

Moreover, the behavior that is visibly shown by an organization can bring out very many outcomes. The intention and strategies of a company are vital in ensuring that they are good enough and hence making sure they get customers (Armstrong, Kotler, Harker, & Brennan, 2018). However, after having a good study, there is a realization that it is tough. This is because it is hard to convince someone to change from their old ways and offer a solution which you tend to claim is better.

Consequently, the behavior of the company and its workers create another concept of how they are supposed to make purchases for the company (Kotler, 2001). For obvious reasons, a company must ensure it knows what the consumers want so that they can avail quality products getting maximum profits in the process. They need to make the right purchases as they are the only ways which can ensure that the company benefits from the gains and grows enormously.

However, there is a problem which is usually involved between consumer behavior and the various differences possessed with a business buyer. In relation to this, the consumers are the customers who are interested in buying goods. This ends up satisfying their needs or that of their close family members (Kotler, 2001). However, consumers are affected by a variety of issues. They include age, gender, occupation, education, and income level. Research has shown an increase in the level of income of employees leads directly to the rise in their lifestyle. And the same case applies as people with adequate capital tend to use more expensive products and vice versa.

Also, as people grow old, they stop to use some of the products which they have other the years being very deeply rooted into and instead focus on other things especially women who were so much into beauty (Johansson, 2009). Whereas different genders use different products and hence exhibit differences in what they need, for example, women might want more hair products than men. Consumers also have a way in which they act as individuals or when they are in groups. It is quite hard for a man to buy clothes easily alone easily as compared to when they are in a group and everyone having to shop for clothes. It mostly about entails satisfying one's needs and all that they want using the available services, ideas, and goods available.

Besides, a new trend has developed over the years, which has sought to revolutionize the marketing world fully. Using the old methods has its implications as it is very are outdated and cannot be able to compete with the different dynamics that are in the industry which should be accommodated for a company to grow.

And this involves mainly children as they have become the driving force towards what their parents what and buy. In my area of locality, most children have bicycles which they have been forced to buy because their neighbors have bought for their children (Johansson, 2009). In this case, most parents are having no other alternative but to carefully follow the demands of their children as they do not have another option. Children, in their case, are becoming demanding. And another example has been as they are trying to follow technological trends by buying a new phone each time.

Consequently, this has led even the advertising agency to change their strategies and of late they have been forced to market child products on hours which they expect both the children and parents are watching. The child is the most important possessions of parents treated well and given special attention. Thus, when they ask for a particular product, their parents consider it directly and buy it without so many problems. They have even resulted in giving a few children a gift to force other parents to buy for those different kinds.

Equally important is that consumers are deeply rooted in their culture. Most people, especially in third world countries, cannot dare go against their culture or religion (Armstrong & Kotler, 2017). Therefore, they are forced to act according to their culture or way of life demands. And making it essential hard to buy products which they deem are against their way of life. Therefore, companies must first ensure they are well conversant with the culture of the customers (Armstrong, Kotler, Harker, & Brennan, 2018). Cultures vary differently, and a product may be forbidden in a certain community, whereas it is allowed in another. And it is essential as most of them do not fully understand how well they can deal with their issues. Hence, before venturing into the market, they must ensure that they fully understand the way of life of the customers. And it is the only way that they can ensure that their products are bought to the maximum and hence get maximum profits.

Besides, every salesperson needs to understand the different dynamics which influence the buyer behavior and hence act to the advantage of the company by having to sell more, resulting in higher profits. As a result, four different but correlated business-related management models have been deployed to help in understanding buyer behavior (Armstrong & Kotler, 2017). They include psychoanalytic, information processing, economic and learning model. All of the above mainly deal with how different customers act while trying to make decisions on their sales. It is therefore essential to have enough prior knowledge of different types of buyers to find a way on how to deal with them effectively.

Also, there is a relationship between the factors that influence consumer and institutional buyer behavior as they both seem to be very similar. The organizational on its part may be a little different however because it is money-making and it cannot just do anything for fun. Therefore, regulatory factors are quite different from the consumers as they must incorporate its structure, procedures, objectives, systems, and strategies.

Besides, a company is formed behind various goals and is governed with a lot of values and principles. Setting of given goals and attaining them is very important for any company. And therefore, a lot must be done to ensure all are met making the company compete able in the market. And this is not the case with consumers as they have no severe objectives which they aim to attain. And do not have a specific issue; therefore, they do not have anything to prove in the process. However, there are also other individual factors which are very relatable with those of consumers.

This includes age, education, preferences, job position, and buying style, which are very much associated as individual buyer behavior. Other factors which are very different from the consumer buying behavior are those factors which are very interpersonal such as dynamics, influence, expertise, and authority. In most cases, people spend a lot of time looking for something in particular, which may be hard to find, but if businesses could be taken seriously, then they would make it a great deal. Getting to know what can be easily found is very good for consumers as they will not have difficulties finding them hence saving time.

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