The success of a business does not rely only on the quality of products or services that the company offers to the market.
Even though the company provides the best product or service that the customer may avail, the success of the marketers will still be based on how the company executes their marketing plans. Apparently, the strategic plans do not refer merely to the supply chain management and marketing mix.
The marketers need to consider the possible impact of the products, advertisements, and competitors in penetrating the market. Since the marketplace is a wide area where the marketers, customers, and even competitors meet, it is necessary for the marketers to understand the important factors that may help the product to stay and grow in the market.
There are many reasons why people purchase the products in the market. Basically, they buy products because those are part of their needs while some purchase the products for luxury alone. Regardless of the reasons of the consumers in buying the product, the target of the marketers is always to create awareness and sell the products to the target markets.
The marketers should always remember that people buy a certain product to satisfy the needs which could be another complicated term for the company who would like to penetrate the market. There are three factors that may affect the behavior of the consumers in buying the product, the internal, the external, and the marketing.
Internal factors refer to the knowledge, attitude, and perceptions of the consumers toward the product, personality and lifestyle of the buyer, and roles and involvement of the customers to the purchase. On the other hand, the external factors include the culture, situation, and groups where the consumers belong. Lastly, the marketing mix also plays very important part in the decision making of the customers. The last factor refers to the quality of product and service, affordability of price, and effectiveness of the promotion to the target market.
One of the most challenging parts of being a marketer is understanding the reasons of the consumers in preferring and buying the product in the store shelf. Consumer behavior refers to the disposal or use of the products and the study of how these products are purchased. Consumers purchase a certain product because of many factors which should be taken into consideration.
The knowledge and strong understanding about the factors that affect the decision making of the consumers would help the marketers to reach the anticipated level of success. Apparently, the factors that affect the consumers are extremely complex making the marketers think of new concepts in order to persuade different kinds of people in different locations to buy only one brand of product in the market.
The psychological influences in consumers’ behavior can easily be recognized; however, the activities that should be done by the marketers sometimes lack the ability to persuade the customers to purchase the product. Motivation is the psychological concept that could help the marketers to improve the plan for developing and promoting the product in the marketplace.