What is Consumer Behavior?
Consumer behavior: This is how consumers will make their buying decision and what those factors which support or influence these decisions.
Know your customers better because only they can help you get more referrals and more business. Understanding customers is the key to giving them good service which in turn results into strong customer relationships and new sales through positive word-of-mouth recommendation.
Factors Affecting Consumer Behavior or Buying Decisions
In business there is what we call understanding your customers. Not every customer will buy into your products or services, and it is not because you didn’t give excellent customer service to them, or your sales pitch was not good enough or you are not a good sales person, No.
But sometimes customers will not buy from you because of the following factors:-
- Psychological Factors:
- Social Factors:
- Economic Factors:
- Personal Factors:
Customer Recognition
In this context, customer recognition would refer to customers being noticed and attended to them as soon as they step foot in your business premises or business hall. In most cases customers are never recognized by members of staff, you will find that a customer can walk in take a seat at the reception and everyone would just bypass the customers with not even a greeting, this on its own makes customers feel not welcomed, appreciated or important enough.
Best approach to customer recognition: Never assume a customer has already being attended to, always walk to the customer you see, greet them with a smile and ask if they have been attended to by anyone, if not ask how you can be of service to them.