IndexConsumer behavior and marketing implicationsConsumer behavior and marketing strategiesConsumer behavior and market segmentationConsumer behavior and product positioningConsumer behavior and marketing researchConsumer behavior, social and non-profit marketingBehavior of consumer and government decision makingConsumer behavior and marketing implicationsThe basics The belief of a marketing-oriented company is that the customer is the fulcrum around which the company revolves. Therefore, understanding what drives people to buy in general and what drives the customer to buy in particular is a vital part of business success. The market itself means the customer, around which all marketing strategies are formulated and implemented. To face competition in the market, marketing managers use various methods to add value to the final product that will reach the hands of consumers. This means that in an ever-changing marketing environment, there is a growing concern or awareness among marketers to undertake a careful study of consumer behavior around which all marketing activities are carried out. Below are the key marketing implications of consumer behavior. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Consumer Behavior and Marketing Strategies Understanding consumer behavior is the basis for formulating marketing strategy. Consumer reaction to this strategy determines the success or failure of the organization. In this competitive environment organizations can only survive by offering more customer value (the difference between all benefits derived from a total product and all costs of acquiring those benefits) than competitors. Delivering superior customer value requires the organization to do a better job of anticipating and reacting to customer needs than its competitors. Marketing strategy is basically the answer to the question: How will the company provide superior customer value to its target market? The answer to this question requires the formulation of marketing strategies: product mix, price, place and promotion. The right combination of these elements meets customer expectations and provides value to the customer. For example, the seller of a bicycle must know the customer's performance expectations, desired service, price willing to pay, information sought, and after-sales service to provide the customer with superior value. Consumer Behavior and Market Segmentation The most important marketing decision a company makes is the selection of one or more segments to focus its marketing efforts. Marketers don't create segments but find them in the market. Market segmentation is the study of the market in order to discover a viable group of consumers who are homogeneous in their approach in selecting and using goods or services. Since the market segment has unique needs, a company that develops a product focusing exclusively on the needs of that segment will be able to satisfy the desires of the target group and provide more value to the customer than the competition. For example, the right segment of Femina magazine is about educated urban women. The success of this magazine depends on their understanding of the urban woman. Consumer Behavior and Product Positioning Product positioning is placing the product, the.