Buyers and consumers
What are the different types of buyers and consumers? How does the type of buyer or consumer impact marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market?© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/business/marketing/buyers-and-consumers-7dmu
...wer-priced store brands, it allows them to show the world that they are also "sophisticated" consumers. The fact that the poor buy private labels more often than the rich is because they have to, not because they want to.
Type of Buyer's or Consumer's Impact on Marketing Strategy:
The strategy to induce toss-ups and random buyers to buy private label is very different. Toss-ups will usually purchase a manufacturer brand as most consumers think that quality is more important than price. This is true when manufacturer brand regularly runs price promotions, which will appeal to the toss-ups' high price sensitivity. To attract random buyers to the private label is by using in-store stimuli that guide the shopper to the private label, such as shelf tag-ons, favorable shelf facings, and end-of-the-aisle displays. Toss-ups can be converted into private label buyers only if they are convinced that the quality of the private labels is comparable to, if not better than, the quality of the manufacturer brands.
Some of the factors that affect consumer behavior are the culture, social class, personal influence, age and life. A young woman has different taste in clothes than an older one. Likewise, a rich guy buys clothes with popular brands while the poorer or the average guy buys the store brand.
In order to ensure that the ...