Customer Behavior

Customer behavior refers to the study of the purchasing tendencies of customers. Understanding the buying behaviors of customers will help you better market and sell your products or services to your targeted customers. It’s important that you understand what prompts your customers to purchase a particular product as well as what keeps them from making a purchase. Understanding the behaviors of your customers will additionally assist in comprehending the decision-making stages your customers go through before making a purchase. Generally, there are several stages your customer goes through before they finally make a purchase. Other factors, be they cultural, social, personal, or psychological, also influence the buying decision.

To help understand customer behaviors in an online environment, a study consisting of 350 customers concluded that customers’ attitudes and behaviors toward businesses depended on their perceptions of the business, the product, ease of use, and convenience.[1] Establishing an understanding of the behaviors of your customers is central to developing successful marketing strategies. Analyzing customer behavior is vital for exploring opportunities that help in the development of successful strategies that influence customer decisions and expand brand awareness. Moreover, attempting to offer a product without understanding customer behavior could cause a loss of both revenue and time.

Social Behaviors. Understanding customers’ social behaviors are valuable for gaining insights into human motivations and how customers allocate resources in various circumstances when making purchasing decisions. Your business could benefit from learning about the social behaviors of your customers as a means to direct marketing correspondence and impact customer behavioral attitudes.

Personal Values. In the context of business marketing, personal values are defined as an underlying determinant of the attitudes and behaviors of customers. In addition to social behaviors, personal values were found to have a significant influence on customer behaviors. However, personal values were noted to have a more significant effect on customer behavior compared to other psychographics considering personal values link centrally to an individual’s cognitive system.

 

[1] Lim, W. M. (2013). Toward a theory of online buyer behavior using structural equation modeling. Modern Applied Science, 7, 34. doi:10.5539/mas.v7n10p34