In order to understand the factors which influence a consumer to purchase a product, one needs to understand consumer behavior. Consumer behavior is the study of how individuals, groups and organizations select, buy, use and dispose goods, services, ideas or experiences in order to satisfy their needs and wants.
The following stimulus-response model helps us to understand the consumer behavior in a holistic manner.
For Sunfeast Farmlite,
The marketing mix elements act like the stimuli – the product offering, the price, the promotion reminds the consumer of the benefits of the product and the distribution makes the product available to the consumer. After these stimuli have reached the consumer, he/she goes through a psychological process, where he/she weighs the pros and cons of the product, compares it with the competitors products. This process is important in understanding the consumer’s characteristics and psychology, including motivation to purchase, perception about the brand, learning about the benefits and memory or past experience with the brand. The consumers’ characteristics also play a major role in this process – the society he/she has lived in, the cultural background and his/her personal characteristics such as age, education, occupation, economic circumstances and the personality type. Finally, the consumer makes the decision, whether to purchase the product or not. If he/she purchases it, then the post purchase behavior is also considered, whether he/she is satisfied with the product or not.
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