A company must determine tactics and measures they can employ so as to influence the targeted consumers in purchasing their products. It is important to determine the buying influences and the behaviors to help a company make more sales. The first step is to ensure that the staff and the customer relationship are created. Basu (2014) asserted that a professional and friendly relationship between the staff and the customers would ensure that the customers feel appreciated hence increasing their attraction towards the products of the given company. A positive behavior will, therefore, have been inflicted on the buyers leading to customer loyalty. This will, therefore, ensure that as the number of the potential customers increases, the company’s market share will also increase.
The customer behavior can also be influenced by the use of proper advertising and promotional strategies. Such strategies will ensure that a business organization's products are effectively marketed. Proper advertisement and promotional strategies will encourage customers to buy more of the organization's products. Products can be promoted by merchandising, personal selling and even advertising. Investing in advertisement ensures that a product is well promoted and therefore consumers will attempt to buy them.
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Sale tactics are very important in promoting positive appreciation of products by the consumers. Sale tactics that are effective in that respect include persuasion, exhibitions, and displays among others. Hisrich and Ramadani (2017) pointed that the staff members of a company can play an important role in ensuring that they influence the customers by proper arrangement of products in a systematic way for the customers to choose. Such an attractive display would persuade customers to buy hence building upon loyalty. Staff members can also organize events whereby the products are exhibited to the public in a quest to win loyalty with the products.
Also, business companies must ensure that a favorable distribution strategy is created on its products. There must be a proper channel in the distribution of products from the company to the customers. When there is a speedy transmission of goods from the company to the consumer, a positive attitude will develop towards such products. The distribution channel involves the wholesalers and retailers who will assist in the distribution of the products to the customers effectively without delay.
It is mandatory for a business company to engage in a healthy competition with other businesses so that they can promote value for their goods and services. According to Klang and Hacklin (2013), a healthy competition is important because the company will ensure quality in its various processes such as branding, sorting, blending and packaging which will be crucial in attracting more customers to their products. Other than competition, the company can employ healthy pricing strategies. Pricing strategies may include offering discount, promotions or even giving products a price tag so as the customers can see the price enabling them to buy what they can only afford. The company can also use competitive pricing and backward pricing of goods. Competitive pricing ensures that commodities are offered and charged at a price that is either equal or lower compared to other companies. This is important as most consumers will opt for such products. On the other hand, backward pricing ensures accurate estimation of what can be spent when the future is projected.
Research
Primary research can be carried out through surveying the market trends, consumer demands and other opportunities that are capable of influencing consumer behavior. Observation is also another easy and reliable way of assessing the consumer behavior towards certain business conditions. Interviews can also be carried out to offer a one on one information concerning the market. Secondary research can be carried out through the reading of business journals, business magazines and other books highlighting the same. In carrying out consumer analysis, one has to determine the consumer affect, cognition, and behavior of the consumers. Consumer profiling, on the other hand, involves the measurement of the effectiveness of the business, segmentation of the customer groups, enhancement, and enrichment. The continuous consumer monitor and research concerns advertising awareness, brand awareness and the purchase behavior of the consumers. Environmental scanning should also be done to assess security and infrastructure.
Current opportunities may include enough market and consumers. Current threats may range from inadequate customers, health concerns on the staff and poor regulations. Future threats involve bad weather and bad government regulations. In SWOT analysis, the strengths of the business could include good government policies and sufficient customers. Weaknesses can result from insufficient capital and wrangles among staff members. Opportunities may arise from a large population and an adequate market environment. Finally, threats could be due to competition from other capable companies.
References
Basu, S. (2014). Product market strategies and innovation types: finding the fit!. Strategic Direction , 30 (3), 28-31.
Hisrich, R. D., & Ramadani, V. (2017). Entrepreneurial Business Planning. In Effective Entrepreneurial Management (pp. 17-32). Springer International Publishing.
Klang, D., & Hacklin, F. (2013). Retaining fit between business models and product market strategies in changing environments. International Journal of Product Development 31 , 18 (3-4), 311-343.
