IMPORTANCE OF BEHAVIOR KNOWLEDGE IN MARKETING
Behavior is something greater than knowledge ( yes, how bizarre it may sound when you read it, but holds 100% truth). Maano ya na maano, life comes up with situations where knowledge fails but behavior saves the day.
A tiny heads up about everything you’ll read below:
Things are going to get a little boring so Kripya humare saath bane rahein!
What is Behavior knowledge?
Behavior knowledge is not something you’re gonna learn in classrooms or can easily google. It’s gathered in a big fat potli with experience. Experiencing what? You may ask and the answer is very simple. Experience in meeting people, knowing them and just observing. The more people you meet and observe, the more you’ll gain behavioral knowledge. There are no rules or guidelines to follow, still you can learn a lot about a person just through his behaviour.
How is it related to Marketing?
Baatein kuch ankahi si kuch ansuni si hone lagi is how directly proportional marketing is to (consumer) behavior. ‘Client is God’, ye to suna hi hoga and that’s the whole point of this relationship between behavior knowledge and marketing. There are tons of different spices to this secret recipe of achieving Customer satisfaction and building a brand out of it.Starting with a complete understanding of ingredients on which whole flavor (success) of your consumer behavior knowledge is based, are:
- Geographic – Hum kis gali jaa rahe hain?
- Demographic – Umar, gender, dharam, income and education.
- Psychotic – Hero of this blog, Behavioral Segmentation.
Explaining further about this, we’ll come to the study of different segments of population and that difference is vast in its manner which is moreover not fixated but evolving with time. So, the whole process is not rocket science but has much more beyond just science.
Artharth: People buy with emotions and later justify it with logic.
JAANKAARI ABOUT BARTAAV IN BAAZAR
Even in a classification of youth, the behavior is multidimensional. Talking of a wider picture here, market segmentation broadens from two of its cells which are Behavioral and Organizational.Later part can be taken care of, internally because Ye tumhare haath me hai. You can persistently work on it but when it comes to behavior, it’s completely external and requires detailed understanding of minute intricacies of consumer behavior which further branches out to wider sections of in depth analysis.
Let’s have a Nazdeeki look on the Buying behavior:
- Decision making – It is categorized as different types such as
- Extended -Yaar ek handbag ke liye 4 figures me spend karna sahi hoga kya?chalo thoda research kar leti hu branded hai ya nahi
- Limited -Ye sunglasses kitne cool hain, par ye teen brands me se sabse sasta to 180 wala hai (which is still expensive for a pair of sunglasses but since limited options, you make the buy)
- Habitual – Eat_Sleep_ye kitna saste me mil raha hai,le leti hu_Repeat.
- Variety seeking – Ye aise stripes wale mujhe alag alag style me chaiye, pastel shades me honge to variety bhi rahegi.
All this for just making a decision about a purchase and if we see context here, India me logon ko 10 rupaya ki cheez me bhi, “bhaiya ye to bht zada hai 5 rupaya hi dungi” karna hai.
- Need identification – Optimizing the buying process through all the data that a consumer provides is easier than brick and mortar shops. Yes, Yahan ecommerce ki baat ho rahi hai. Through all the above patterns of decision making, there’s enough data to know the need and how often a consumer makes any purchase. Hence how sales ka janam hua.
For example: It’s 4:00 p.m and you’re hungry, around that time, you see a notification come up on your mobile screen and it says, “pstt psst Mr. bhookha, dreaming about your favourite dish? Is it Hyderabadi Biryani or Tandoori momos? There’s a special offer waiting for your craving, come on hurry!”. That’s how well the online food service app has optimised your past activities and hence the offers or need for that service or product is placed carefully.
- Information Search – Both of the above criterias conveniently fill the blanks of this subheading ka subheading. This is still the most crucial point to make the above information depend on Information Research. As it keeps on changing over a period of time, every company wants to market alternatives for the consumers so that they can achieve ‘har company ke sar ka taj Brand Loyalty’.
- Government Decisions – Making a remarkable impact on consumer behavior, inka bhi pura pura yogdan hai to market or demarket, just how GST or fuel prices and everything else in the annual budget has a boomerang effect on the demand and supply of products and services so Evaluating, acquiring , using or disposing of goods carefully becomes every company’s kartavya.
- Production and Price Policies – Nothing much left to elaborate on this one as we all are not anjaan to how Pricing has important implications for the positioning of the products in the market.
BEHAVIOR KNOWLEDGE KA ISTEMAAL
- Analyzing Market Opportunity – Consumer behavior study help in identifying the unfulfilled needs and wants of course. Identifying these groups, enable the marketer to design and market products or services particularly suited to their wants and needs. Scanning and evaluating of market opportunities help in identifying different targets of marketing.
For example: Earlier when people used to buy maggi, they not only used the masala for it but for every other dish they liked. Hence, separate maggi masala got placed and sirf itna hi nahi but with various flavors too.
- Diffusion of Innovation
Innovation is a broad category, relative to the current knowledge of the analyzed unit which spreads through population and helps marketers to establish utility in society.
It varies through types of buyers which unfolds with the ones leading the population to try new products or services, ones then following the herd to try the same and then the minority group which is hesitant to try new products still left with no other option than trying eventually hence making the buy.
- Rural marketing strategy
Being universal is crucial and that is clearly visible with the race of brands to cover the majority with their products in hand.
For example: In Spite of better mobile companies in the market, a full wave of majority was using MI phones when it got cheaper with desirable features because of course ‘context of region’.
- Strategic Management Process
It is a continuous culture of appraisal that a business adopts to outdo the competitors .Often organisations achieve a sustainable strategic competition in the market to keep the control of predicting present as well as future of their marketing campaigns.
To conclude it would be safer to suggest even if you’re not a marketer or into marketing at all , behavior knowledge still holds the same importance in all walks of life.