EOC Week 4: Business is Consumer Buying Behavior

          Businesses can call themselves a business all they want. They can have the logo, the name, the employees, the products or service they provide; but without consumers to utilize what their business provides, their company is nothing. Businesses need customers more than customers need businesses. It’s almost like the food chain, or more like the circle of life of marketing (thank you Lion King for those comparisons). Above all else, businesses need to have appeal. Without public appeal, customers don’t care about what they business is trying to offer. Marketing is all about making yourself/your company/your products appealing. If you have a business, you most likely have a competition. "Understanding buying behavior is an essential but very difficult task." - 5 Understanding Consumer and Business Buyer Beh... (page 1 of 59 — printed page 135)

There could be three identical companies, selling identical products and services, how would those companies gain customers. Appeal. A company has to make their products seem worth having.  "To affect the whats, whens, and hows of buying behavior, marketers must first understand the whys." - (page 1 of 59 — printed page 135) No one NEEDS a toaster oven. If you have a microwave, a regular oven, and a normal toaster you’re good to go. But what about having a gadget that cooks faster than an oven and is easier to use! Not to mention makes your toast and other toaster items that much more delicious. It’s like the revolution of the toaster. A two in one MUST HAVE... See what I did there. Dang, I almost made myself want to go out and buy a toaster oven.

When consumers purchase products they go through a decision making process. They ask themselves multiple questions. Do I need this? If I don’t need it how will I benefit from it? Is the cost reasonable? If it’s expensive is the quality or brand name worth the extra money? The steps of the buying decision process includes need recognition, then the information search stage, purchase decision, and post purchase behavior. The product adoption process is made up of five stages: awareness, interest, evaluation, trial, and adoption.

In conclusion, the consumers and company’s appeal can make or break a business. Business who recognize this are over all more successful. "Buying behavior is never simple, yet understanding it is the essential task of marketing management. First we explore the dynamics of the consumer market and the consumer buyer behavior." - 5 Understanding Consumer and Business Buyer Beh... (page 3 of 59 — printed page 136)