Aligning Your Product or Service with the Behavioral Patterns of Consumers

Aligning Your Product or Service with the Behavioral Patterns of Consumers

Consumers have specific strategies when making decisions about what they want to buy. These consumer purchasing strategies are predictable because human behavior is at the core of their decision-making.

By studying the behavioral patterns of consumers, businesses can foresee how consumers will receive and respond to a new product or service. When forecasting consumer behavior, marketing managers need data-driven strategies. Traditional research or other strategies such as behavior data review and experiments can be employed according to your business needs to predict the behavior of consumers.

There are three key drivers of consumer behavior:

  • Attention
  • Emotion
  • Coherence

It is essential to gain applicable consumer behavior insights to effectively create branding and pricing strategies.

These psychological elements influence consumers to act the way they do. You can explore how decisions are made by applying concepts such as heuristics and biases, which will enable you and your teams to more accurately and successfully bring your new product or service to market.

Get in-depth insights on how behavioral data can help predict consumer behavior by enrolling in the Consumer Behavior certificate program offered by Genashtim, in collaboration with eCornell.

eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its HRD Corp Claimable Course Scheme.