How to forecast and shape behavioral patterns? essay sample

Consumer’s behavior is a mysterious and very complex process. However, it is not as unpredictable as it seems at first sight. Most marketers need to forecast needs, wants, and capabilities of their consumers. If we want to release a successful product to be sold out quickly, we have to stay focused on our consumer in the first place. Today there are various research tools that help to analyze customers and their motivation. However, both data-driven and old school methods of the forecast can analyze consumers behavior only partially.

 

Big data have brought new opportunities for understanding current and future customers. Most companies use cookies that track users browsing their websites. Tracking purchases and browser history is a common tactic; it allows retailers to classify their consumers and provide targeted advertising. Technically, marketers can gather all sorts of information about their consumers. Then it is important to use this information wisely. Incorrect analysis drags non-targeted advertising that repels even loyal customers.

 

While big data analytics becomes more and more available to businesses of any size, many startups use good old target market analysis. They create an image of a potential customer and describe their behavior. Such an analysis is based on polling real people, not only on the sheer intuition of marketers. Needs and opportunities of the target audience often differ from those of the marketers that is why it is essential for producers to actually check on their potential customers.