Consumer Buying Behavior
The product, which I have selected to sell to my target market, is shoes. They are different significant factors, which are responsible for influencing the consumer buying behavior related to purchase decisions of shoes. The responsible factors, which influence the purchase behaviour of consumers related to shoes, are associated with the product, price, place and promotion. It is important that the product should be quality oriented as there are many competitors and it is easy for the consumers to shift to other available competitors if the quality is low as compared to competitors.
Another significant factor is the price factor, which suggests that the price should be competitive in the market as compared to the competitors because it is the primary factor which most of the consumers use in order to finalize their purchasing decision. It is important to understand that the price, which is being charged by the company, will be the cost for the consumer so it is important to provide cost-effective products to consumers to effectively compete with competitors in the local market.
Promotion is another significant factor, which is responsible for influencing the purchasing behaviour of consumers. It is important that frequent promotions should be launched by the company and they should be properly advertised in order to make sure that it positively enhances the sales of the company and the overall performance of the company. It is also important that shoes offered to the final consumers should be available in all the outlets of the company.
Another significant factor, which is responsible for influencing the purchasing decision of the consumers, is the income level and gender of the consumer. It is important that the income level of the consumer should be medium or high in order to positively influence the decision related to purchasing of shoes. Identification of these factors will help the company to modify the products according to the factors, which are responsible for influencing the purchasing decisions of the consumers in a negative manner. These feedbacks will be significantly important for the progress of the company (Saha, Dey, & Bhattacharyya, 2010).
It is important that the company should advertise their shoes in order to effectively in hands the fashion Awareness of the consumers. By enhancing the fashion Awareness of the consumers, the company management will be able to create demand for their products offered in the market and will be able to attract the potential customers to purchase the products, which have been offered in the market by the company.
Another significant factor responsible for influencing the purchasing decision of the consumer is the comfort of the shoes. It is important that the issues offered by the company in the market should be comfortable for the consumer in order to positively influence his purchasing decision (Anand & Alekya, 2015).
The attitude of women towards purchasing shoes is different as compared to the attitude of men towards purchasing shoes. It clearly suggests that gender has a significant role in influencing the decisions of consumers related to purchasing of shoes. Different studies have been conducted in past and they suggest that most of the young consumers in modern days purchase rationally and carefully due to which it is important for the company to make sure that optimum level of products are being offered in market to potential customers and quality oriented products are being offered as compared to the competitors. In this modern era of globalization and Technology, it is very easy to shift to alternative competitors owing to poor quality or high prices of some specific alternative products (Pospisilova, 2013).
References
- Anand, G., & Alekya, U. (2015). A STUDY ON CONSUMER BEHAVIOUR IN THE FOOTWEAR INDUSTRY. PEZZOTTAITE JOURNALS.
- Pospisilova, A. (2013). Analysis of consumer behaviour in the footwear.
- Saha, S., Dey, M., & Bhattacharyya, S. (2010). Factors Affecting Consumer Buying Behavior of Shoes in Kolkata: A Case Study. The IUP Journal of Management Research, 39-60.