How buyer behaviour is used in the context of marketing Essay

How buyer behaviour is used in the context of marketing - Essay Example Firstly the study provides the information about the number of prospective buyers residing in a particular region. Secondly the study helps to understand the demographic and psychographic features of the buying population. Thirdly the study confirms the tastes of the consumers in relation to choosing and consuming different products. Fourthly it analyses the responses of the consumer to the different types of promotions carried on by the company. Fifthly it also endeavors to understand the responses of the consumers to change in the price structure of goods and services produced. Sixthly it helps in highlighting the desires of the consumers in making repeat visits to a certain stores located at particular localities (Malhotra, 2008, p.45). The behaviors of the customers can essentially be grouped under four categories. Firstly the products, which are cheaply available to the consumers, like snacks and cold drinks are almost bought by the consumer amounting from impulse and owe little to decision-making actions. Secondly the consumers while purchasing products from a known category often take little decisions regarding its brands and market value. However in the third case the consumers when purchasing products of high economic value and belonging to niche categories makes a lot of decisions (D’Souza, 2009). ... Estimates made show that on a weekly basis around 21 million customers pay their visit to the stores of the company located in United Kingdom. The products offered by the company are generally of high class and render the best quality to the different classes of consumers in the region. The products offered by the company belong to categories like women’s and men’s wear. Marks and Spencer which specializes in the women wear market also is expanding its share in the retail market by moving over to other categories like children wear and home furnishings. The company operates based on a total number of 600 stores based along the region of United Kingdom. (Marks and Spencer, 2011). Understanding Buyer Behavior in Retail Management The process of understanding the behavior of the consumers in the context of retail management can be subdivided along three essential fields of study. Firstly the retailer must make an analysis of the marketing segments to which it desires to of fer its products and services. Secondly after segmenting the particular market the retailer must understand the process of targeting the prospective customers. Thirdly the retail operations of a company earn success in their strategy of positioning themselves in the light of the large number of competitors targeting the said market. The process of marketing segmentation in the context of retail management signifies the identification of those consumers to which the retailer desires to offer its products and services. The retail company also focuses to design its marketing programs, which aim to serve the consumers identified in the above context. Herein, the retail company also decides