When targeting specific customers, it is very
important to understand each individual's consumer buying dynamics. A marketer
must be able to adopt a holistic marketing orientation through understanding
their customers inside and out. Companies must cultivate a connection with
their customers and gain a 360-degree view of their daily lives. By understanding consumer behavior of individuals and groups and how they buy, use, and dispose of goods and services, marketers can gain a better understanding of their needs and desires through theory and reality of consumer behavior. In addition, the difficulty in marketing to individuals is influenced by cultural, social, and personal factors which contribute to the complexity of every consumer target.
By applying the five-stage model of the buying decision process, marketers can have better understanding of the customers' buying decision process as a whole. The first step is problem recognition where the buyer recognizes a problem or need. Second, information search is where the person seeks information about competing brands. The third step involves the consumer evaluating the alternatives and developing a set of beliefs about where each brand stands on each attribute. In the fourth stage is the purchase decision. This is where the consumer forms preferences and makes a decision to buy the product. After the purchase, the post-purchase behavior comes in where the satisfaction of the product is determined based on customer feedback. Marketers can take advantage of their marketing strategy by fully understanding the consumer behavior and buying decision process to maximize mass consumer satisfaction and higher profits.
