Buyer BehaviourEssay Preview: Buyer BehaviourReport this essayBuyer Behaviour by Geoff Lancaster ©Importance of understanding customer motivesThe task of marketing is to identify consumers needs and wants accurately, then to develop products and services that will satisfy them. For marketing to be successful, it is not sufficient to merely discover what customers require, but to find out why it is required. Only by gaining a deep and comprehensive understanding of buyer behaviour can marketings goals be realised. Such an understanding of buyer behaviour works to the mutual advantage of the consumer and marketer, allowing the marketer to become better equipped to satisfy the consumers needs efficiently and establish a loyal group of customers with positive attitudes towards the companys products.
Consumer behaviour can be formally defined as: the acts of individuals directly involved in obtaining and using economic goods and services, including the decision processes that precede and determine these acts. The underlying concepts of this chapter form a system in which the individual consumer is the core, surrounded by an immediate and a wider environment that influences his or her goals. These goals are ultimately satisfied by passing through a number of problem-solving stages leading to purchase decisions. The study and practice of marketing draws on a great many sources that contribute theory, information, inspiration and advice. In the past, the main input to the theory of consumer behaviour has come from psychology. More recently, the interdisciplinary importance of consumer behaviour has increased such that sociology, anthropology, economics and mathematics also contribute to the science relating to this subject.
The authors offer two key themes to the present work. These are the first: – the concept of individual rationality in the context of ‘consumer’ behaviours, and the second – the interdisciplinary nature of such behavioural analysis. The third theme, which is often associated with economic theories, explains how consumer behaviour is understood to lead to economic outcomes. For example, consumer behaviour has traditionally been conceived as a ‘rational’ category that is able to predict the future. In terms of this, the consumer seems to live an optimist lives. This belief can then be used to motivate policy, which can in turn lead to economic behavior. The fact that the term ‘rational’ can also make a positive change in people’s behaviour does not mean it is right to use this term. An individual is not simply an individual who believes in one thing at a time. It is a person who is acting in accordance with this belief.
The concept of ‘consumer’ behaviour is a topic of wide interest, especially as the global economic crisis has been compounded by a global economic slowdown and the rise of consumer capitalism. A further key development has been the rise of a new model of consumer behaviour that is based on the principles pioneered in the ‘rational theory’. The model draws on the theory of action in economic theory and on principles that are widely available online. As these approaches to ‘consumer behaviour’ have evolved, many economic theories have developed, particularly in the discipline of finance and business. Moreover, many more models have also emerged by virtue of innovations in the practice of financial modelling, in particular in the economics of investment. The present work gives a basic framework for the field of consumer behaviour by drawing on the concepts of behaviour, economics, and finance. Furthermore, it provides a solid foundation for the research the authors focus on in developing their theory, and the approach adopted in conducting the research.
The paper identifies a range of major factors that provide evidence for the existence of widespread consumer behaviour within the United States. They include the current economic system in which most of us live, the rise of large social networks that are used to track a range of activity, the emergence of a more complex and interconnected society in which economic incentives are provided to drive behaviours that most people would not find acceptable. In other words, the findings provide evidence for the existence of widespread consumer behaviour within the United States. In addition to the general tendency for all Americans to act based wholly on what they learn in schools, the authors show that the results on this question are almost universal, suggesting that the general results of this research lie not only in an ‘unbiased’ analysis of a set of large samples, but also in many aspects of the American economy. The research aims to ‘give readers an idea of how our public engagement in this problem affects not only the United States economic system, but also our political and social institutions. . . . It would be of considerable benefit and good governance to have this research addressed in a way that focuses on the political aspects of this problem.’
Equal access in the economic service sector has long been a common theme in contemporary macroeconomics and has included a broad range of problems related to the economic systems that are based on this theme. – “The problem of unequal access comes to the fore in this study. The most well-known examples of the issue include large swaths of urban areas in the United States with lower income and less developed rural areas. The economic system in which most of us live, which was once dominated by individuals and small business, also faces growing competition from other forms of economic activity and competition with the emerging social economy.”
The authors point