If you are a Businessman , Entrepreneur or Corporate Leadership. This article will be a game-changer for you. Do people always ask questions like What type of product should I make? What should be the price of that product? Where to sell ? In which markets? what will be the Profit? Don’t ask these questions to anyone. To understand consumer buying behavior, let’s discuss consumer behavior
Don’t decide product, price, profit or positioning first. Decide CONSUMER BEHAVIOR first. Look around what consumers want? We have to find consumer’s Psychographic behavior, demographic, Ethnographic, and Geographic behavior. We need to understand why consumer doesn’t come?
Go to small towns, villages to understand the profile of the consumer. There are some buying roles of the consumer in its decision making. These buying roles may be of 5 types. The first is Initiator mean consumer think about buying some product. Then comes Influencer, it means consumer become confident for buying; “Of course! I should buy it .” Then comes Decider, he has power to buy that thing. Then come Buyer which go to shop and buy the product. And the last is consumers, which use that product.
Now I will discuss a case study which will help to understand consumer buying behavior.
Cadbury’s in Early 1988 , Its market became saturate. Because their main market about 78% was children and 22% others. And they targeted those kids. When kids reached to mature age , they may become fun for other, if they still eat chocolate in this age . They were struggling in growing and retention.
Then in early 1990s , they took a Bold decision . As in 1988 , the 78% kids were consumers . They skipped those kids from Ads and advertising . Because they want to adjust new Buying consumer behavior. And then they launched New campaign , the new ads focused on youth indulgence. Then beside this they launched many other campaigns one of them was “ Kuch Meetha Hojaye ! “ To enhance consumers . They went from kids to youth and then families. Even they wanted to replace the tradition of Sweets with its Cadbury chocolate.
In this way they grow and make huge progress in the markets , this was all because of knowing the exact profile of the consumer and its behavior.