Consumer Behavior

I don’t really know how to value my money when I was still in college. I didn’t have any savings and all I ever did was to spend my money to the last penny. I always wanted to keep up with the latest trends. During weekends, I would usually go bar-hopping with my friends. I spent more of my money on luxury rather than on my needs as a student. I don’t worry much about my future for I know I will be able to do that as soon as I graduate and find a job. I was a happy-go-lucky type of person just like any other college students.

My parents used to hand me my allowance weekly and I should be able to stretch my budget for the whole week. It was quite challenge, but I managed to survive. I didn’t have any idea what consumer behavior is all about until I graduated and worked in an advertising company as a market researcher. I never imagined myself landing in this kind of work because I am psychology graduate and I should be working in a school or something. As a market researcher, I was surprised how money plays a major role in the lives of majority of people.

I decided to work in an advertising company because I know it is where the money is and it is also a challenging job, indeed. Consumer research is something that I enjoy and I intend to stay long in this kind of profession. Consumer behaviors are based on real answers of consumers and are not merely based on guesses. Gathering consumer information is a way of documenting the expectations of your prospective customers.

In gathering data, you need to identify clearly who your target market is. To what age bracket do they belong to? How much should they be earning? Do they belong to class A, B, C or D? What benefits can they get from your product? These are some questions that you need to answer to be able to come up with a realistic report on consumer behavior.

Consumer behavior, in the understanding of students, is far different from the perspectives of the working population. You need to figure out what your prospective customers need and what they expect from your product. You also have to be ready for transformations in case there is a need for you to improve on your product. To be able to succeed in this kind of business, you must learn to listen to what your customers are telling you, be it positive or negative.