Analysis of Consumer Choices to Develop Marketing Strategies

1381 words (6 pages) Business Assignment

22nd Jun 2020 Business Assignment Reference this

Tags: Business AssignmentsMarketingConsumersMarketing Plan

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In current society, due to the rapid of developing of the economy or new technology that approach with business strategy to become successful in selling a product to consumers. Moreover, the business can progress their marketing strategies to sell better, and secondly, each consumer has a different choice form other consumer and to progress there demand they have to consider about a fairly complicated choice every time when they are buying a product. This is why some expert suggest that business can help customer to analysis and make choice to create a goal of marketing strategies, moreover developing professional skill in marketing management require ability to look across a broad cross-section of the marketing situation, to understand their differences and commonalities, and to identify appropriate marketing strategies in each stand. Lovelock, Christopher H (1983). However, the business can create marketing strategies base on their best distribution and promotion. However, the Business firm has considered that they can be analyzing marketing strategies form customer choice. Which mean this essay will discuss that selecting users is necessary for a business to making a choice of good by analyzing a developing a technological and Psychology of marketing of consumers to demonstrate a point of views.

Firstly, an applicant of psychology for business is very important as it is a demand for consumers and the role Psychologists who apply to try to use scientific methods to monitor consumer behavior and to provide useful knowledge to business organizations. Business firm’s perspective of consumers when they demand on one product they will no demand on another product and there will an opportunity cost for consumers, and Consumer behavior on consumer behavior is shown in product search. Psychology attempts to examine the consumers’ behavior in order to assist them to achieve maximum economic satisfaction. On other hand Consumers cannot consider a need when people pick them up while people behave in a logical way, the problem leads him to make poor choice and psychology as a field of study tries to examine how a consumer behaves. However, Consumers act in their own self-interest. This generally of goods and services they themselves consume and is independent of qualities consumed by others these interactions which we believe are on the core of consumer behaviors are thus assumed away at the outset. There is a notable exception (David 1987). (Leibenstein, 1976) has analyzed what he termed “band-wagon, snob and Veblen” effects in consumer behavior and of course Veblen himself put the effect on consumer’s spending on other people at the center of his theory. Moreover, the role of psychology in understanding consumer behavior for the benefit of business organizations are important as in market or in futures for business firms as it helps to analyze a customer of how and why individual make their consumption decision, therefore, a business firm can make a better marketing strategy. As a result, for a business firm or seller understand a consumer’s behavior, they able to predicts a product that consumer is likely to react or buys due to the information and environmental cues. A marketer has who understand consumer behavior have a good advantage in the market place (David 1987). For example, when the customer is in Sainsbury which includes optional of Price, Quantity, Quality, and from more option, definitely the choicer customer has, the more they can choose their best fit that is more beneficial than other product. In the same way, the suppliers will need to analyze the psychology of customer to produce more different item to make satisfaction their greatest choice.

According to the technology, evolution has created opportunities for an organization to improve performance success to achieve a target in selling. Technology has played a crucial role to a firm to success in goal, some time for business survival: it has been necessary for organizations to incorporate technology, in order to survive in an ever-changing environment and to increase their competitiveness (Pan et al, 2008). Moreover, technology is the most important effect in the development of the organization of the future. However, as customers hint for a business should produce a different good for different consumers, for example with a high-tech but mid-range price, Huawei products are no relative expensive but a middle range and they have achieved extremely high good quality and sale in China in short time. moreover, they have a successful marketing strategy which strong and self-determining. On the other hand, when they release a phone the quality, high-tech, camera it was very satisfied with the psychology of the consumer.

Computing technologies have facilitated a process-oriented approach to system development where a database is shared in different functional units participating in the same business process. Ford Motor Corporation, for example, used databases in its accounts payable process to cut down many intermediate steps and to overhaul a sequential flow of paper documents among involved functions (Mohsen Attaran 2001) moreover ICTs may help poorly functioning markets work better and thereby increase incomes and/or lower consumer prices. In fact, it has become increasingly common to find farmers, fishermen, and other producers throughout the developing world using mobile phones, text messaging, pagers, and the internet for marketing output. However, while there is some macrolevel evidence that ICTs promote economic growth [Roller and Waverman 2001], the micro-level evidence has been purely anecdotal. However, this may be true sometimes consumer may be true that they prefer to a few choices, possibly It is not a choice that people make when faced with a lot of choices that make them unhappy, and consumer like to reduce choice by engaging in a royalty relationship marketer. In addition when making market strategies, business firms should make a market type  for young people because the likely more to shop online rather than go shipping in local market, but for oldest people more likely to attract on shop on local market because old people are not used to technology and it makes their feeling happy when come shopping outside or local market rather than  order on online shopping. At the same time, the seller should consider the risk of all expectations before making a marketing strategy. Which mean this could help them make a success in marketing strategies for the good they want to achieve a goal.

I conclude, according to the presentation above, a business should analyze the ability of a business enterprise to have a good market for their goods and services heavily relies on their ability to understand the consumer behavior. Moreover, the customer demand is more likely to pay by their attention due to emotion, whether which product they will buy to best their choice. Business should make a satisfaction to customer and understand them therefore business will have a successful goal of selling.

Reference list:

  • UKEssays. November 2018. Assumptions Of Consumer Behaviour By Psychology Marketing Essay. [online]. Available from: https://www.ukessays.com/essays/marketing/assumptions-of-consumer-behaviour-by-psychology-marketing-essay.php?vref=1 [Accessed 5 July 2019].
  • Essays, UK. (November 2018). The role of technology in business success. Retrieved from https://www.ukessays.com/essays/business/the-role-of-technology-in-business-success-business-essay.php?vref=1
  • Mohsen Attaran (2003). Exploring the relationship between information technology and business process reengineering. school of Business and Public Administration, California State University, Bakersfield, 9001 Stockdale Highway, Bakersfield, CA 93311-1099, USA: Mohsen Attaran. 589.
  • ROBERT JENSEN. (August 2007). THE DIGITAL PROVIDE: INFORMATION (TECHNOLOGY), MARKET PERFORMANCE, AND WELFARE IN THE SOUTH INDIAN FISHERIES SECTOR*. THE QUARTERLY JOURNAL OF ECONOMICS. CXXII (3), 881.

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