Implications of Consumer Behavior

Consumer behavior is one of the key issues marketers should consider when they are creating marketing strategies. This is because certain factors like usage, decision-making process and finances affect the consumer behavior. Therefore, marketers need to divide consumers in segments according to their behavior.

In most case, these consumers can be structured inform of household units. Therefore, marketers employing market leader as their marketing strategy, they should explore family units that are not their consumers while they retain their loyal household unit. Secondly, marketers applying market challengers as their marketing strategy, they should research on a small need of each housing unit they can exploit. Thirdly, managers using market follower as their marketing strategy, they should study weakness their competitors are making and exploit it. Finally, marketers applying market niche as their key market strategy, they should research on a smaller fine market of the housing unit they are going to target.

In household units, three key categories exist. The first category is the young family comprising of single young adults or newly married couples with no children. At this stage, they do not have many responsibilities resulting to a clear decision process. For examples, organizations selling furniture should target women since they influence the purchase decision. The second category is the middle family comprising of a married couple with children.

In this stage, they have more responsibility and the decisions at the hands of the parents. For instance, companies selling foodstuff should target parents because they make purchase decisions in relation to what is best for their families. Finally, old family is the last category comprising of married couples who their children have left. Their decision process is not complex since they do not have responsibilities. Therefore, an organization targeting this unit should consider targeting the husbands since they make most of the purchase decisions.