What is Consumer Behavior? From Understanding to Factors Completely Reviewed!

Do you want to develop a new quality product? If so, you need to study consumer behavior or consumer behavior. This research can help you understand consumers both as individuals and as groups. However, the benefits don't stop there.

In this article, we will explain everything about consumer behavior. Read on, okay? 

Definition of Consumer Behavior

Consumer Behavior is the study of consumers and the way they buy products/services. Consumer behavior develops dynamically, especially in this modern era, consumer behavior has changed sharply. So this is a pr for sellers to survive in their business.

If you as an entrepreneur understand consumer behavior, you can understand all needs. So that the products and services you sell can be accepted, so that business income can increase. How? Are you interested in studying consumer behavior? 

Benefits of Consumer Behavior Studies

According to Cooltrack, consumer behavior is not only useful when developing new products. Product analysts can also use this research to improve existing products.

Not only that, you know. There are still many benefits from consumer behavior in terms of sales and product development. Some of these are:

1. Understand the differences between different consumer groups

A product can have many types of consumers. So, every consumer is different. Also, their needs and wants are not the same. How should this distinction be understood? Consumer behavior studies are the answer. 

2. Plan the right marketing program

Want to create a suitable marketing program for your customers? Of course, you have to understand it first. As we explained, this insight can be gained by studying consumer behavior.

Each marketing program can then be adapted to specific consumer groups based on their behavioral characteristics. Research can also facilitate consumer-related decisions, such as:

• logo change

• packaging changes

• Create a rewarded campaign 

• and others

3. Predict market trends

Market trends keep changing from time to time. Therefore, these changes can be monitored through consumer behavior studies. You can automatically create current products. There's no need to waste tons of resources developing an imprecise product. 

4. Increased competitiveness compared to competitors

Researching consumer behavior not only allows you to understand your audience. You can also receive information about competitors such as:

• Did the customer buy a competitor's product?
• Why do consumers buy products from competitors?
• According to consumers, what differentiates your product from competitors' products? 

If you already know your competitors, make a better product. In this way, your competitiveness can increase.

5. Improve customer service

Every consumer requires different services. Well, this difference can be learned through consumer behavior. This allows you to provide quality customer service. Because it all depends on the needs of each customer. 

Types of Consumer Behavior

Of course there are many types of consumers who will become your customers, even for one product. To do this, you need to know the types of consumer behavior in business:

Complex Buying Behavior

The first type of consumer is complex buying behavior. This first behavior occurs when a consumer buys a product at a high price and buys it infrequently. Consumers think a lot before deciding to buy.

Dissonance Reducing Buying Behavior

Dissonance reducing burning behavior or buying behavior that reduces dissonance. Dissonance arises when consumers worry about whether they made the wrong purchase or not. Cases like this occur when consumers are confused and have to choose between several similar products.

Habitual Buying Behavior

Habitual buying behavior or habits. This type of consumer does not need to think long when choosing. Consumers are usually accustomed because the goods they buy fulfill their basic needs or the goods they buy frequently. Different search behavior

Behavior when searching for variations or behavior when searching for product variations. Such consumers tend to buy similar products from other brands and look for variations that are used on a daily basis. Such cases can be a sign that consumers are bored with products that are commonly used in everyday life. 

Factors Influencing Consumer Behavior

In general, consumer behavior is influenced by the following three factors.

1. Personal Factors

Personal factors are the interests and opinions of consumers. This factor is also influenced in particular by demographic data, such as:

• your
• sexual
• culture
• profession
• background
• and others

2. Psychological factors

Psychological factors are individual reactions and attitudes:

• marketing campaign 
• personal needs as consumers

3. social factors

These factors include:

• impact on the environment
• social media influence
• social class
• income
• level of education
• and others

4. cultural factors

This factor shows that customer interest consists of several things, such as:

• the values ​​and ideology of their community
• community trust
• family and community needs
• social class 

The following is our explanation of consumer behavior, starting from the definition, tips to the factors that influence it. Hopefully this article can help you determine a mature strategy for your business.