Buyer behaviour and market research 2 Essay Example | Topics and Well Written Essays - 1250 words

Buyer behaviour and market research 2 - Essay Example ive of the management and stakeholders to ensure there is a clear channel of communication and distribution of resources among all departments to avoid blame shifting thus enhance quick supervision. Societies expect companies to adhere to forces of mindset in order to build confidence within customers’ fraternity thus make stock turn over efficient and effective. Therefore, business prosperity largely relies on buyer behavior and market research. Business environment is paramount for successful fat-tracking of customer satisfaction and feed-back. Creation of stable working conditions and tranquil mindsets enable personnel produce quality products. Good environment can be observed through engaging dialogue and mutual organization of activities for instance, calling customers who complain. Behavioral and psychological mindsets among customers influence management decision making. Decisions should accommodate views and opinions of all employees and buyers irrespective of social, economic, and political affiliation. Good relations are aimed at reducing acrimony in work place that may cause inefficiency in production of goods and services. Customer satisfaction factors for instance, assessing competitor, market survey, product specification, expectation, and admitting to failure help firms understand customers with ease. Conversely, microeconomic variables for example, stakeholder decisions, decision making, change of production techniques, and pricing of goods and services adversely lead to increase or decrease of customer walk-ins. Segmentation is a strategy that is set to divide consumers into groups within a target market. Alternative products greatly influence the nature of marketing to undertake because it provides customers with a better option when company’s goods and services are not appealing. Similarly alternatives create a boundary of differentiation between each company’s goods and services. This helps in guiding potential and new customers to the