Consumer buying behaviour the roles price
Increased presence on digital networks and websites: it can be said that in a Pandemic situation the use of digitalization, as well as the presence on the digital network, will play a vital role in improving the industry. due to the limited movement of people, they are heavily relied on digital networks for purchasing the products. hence the beauty industry needs to shift their focus towards digitalization by enhancing their website and by making their presence known through social media networks' Apart from that they can also attracting the customer by providing a virtual trip to the solons and other stores to show the sanitizations, as well as the to highlight the safety protocols, have been followed, this will bring the trust of the customer to visit the stores (Adweek, 2020).
Enhance their promotional strategies: another strategy that can be adopted by the beauty industry is that they could enhance their promotional strategy so that they can attract the maximum of customers through the online channels. one example would be providing discounts up to 40% on special beauty products, through this method they can move their unsold seasonal inventories at the same time it can bring profits to their industry (Adweek, 2020).
There are benefits for understanding the customer behaviour as each customer may have different reason to buy a selected item. The benefits for a company to understand customer behaviour are that it helps in understanding the direction of the potential purchase by a customer. Furthermore, it is possible to improve the customer experiences, customer satisfaction and business performance. It helps in anticipating the customers’ needs and desires for future sales. There is also the change of discovering the shopping process of a customer that can be used to improve the retail experience and measure of respond by customers. It helps optimizing the performance of a store, or like the video says “shoppability” of a store. It helps in showing the regularity and items of purchase by customer. This helps in personalizing some of the process for a customer. For example, the marsh purchase mentioned in the video. It also helps in knowing the demographic of the customer based on the purchase habit. This can help in knowing what drives the purchases of a customer in a future. Along, with the needs there is also the need or purpose of visiting the store and how the customers go about picking up the required items and noticing display. For example, a customer noticing the sales offers in a shop. Also, the speed of selecting of item of a customer can help in positioning items for selling. The tools that were mention the video included simulations for potential shopping, cameras that provides a 3d tracking of movement of the customers. There was also the use of special glass that would help in tracking the customer’s movement and areas of notice for purchase (Spanyi & Toth 2013;TEDx Talks 2016; Auf et al. 2018; Victor et al. 2018).
Question 4
This step is identifying and defining the market and customer profile. This step is important in many ways. This is because it helps in understanding the customer better before selling the product or service. It helps providing different information on the customer. This information includes knowing the location of the customer, demographic related information. There is also a chance of potential getting to know their behaviour and lifestyle. This can help in the process of how to go about providing a unique selling point to potential customer. Furthermore, it helps in realizing what is the potential price the customer is willing to pay for the product. Moreover, it helps in better tuning of the marketing campaigning towards the customer. This can also help increasing the profit of the company. In the process of creating a customer profile it can help in selecting a more ideal strategy to be implemented. There are advantages of customer profiling. The advantages include how to business process, increase the customer loyalty and satisfaction, ensuring that the product provided to the customer is correct and customer retention. There is a better change of creating a brand of the business that attracts the customer. It helps increasing the market segment based on the profile and how to attract them through various marketing process. It helps in setting the marketing or selling goals to attract or retain a customer (8 steps to marketing your business | Small Business, n.d.; Wiedmann, Buxel & Walsh 2002; Yang, Lin & Wu 2009; Hassan & Tabasum 2018)
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