Understanding Customers Essay

Understanding customers

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
The way to give services to customer-base in an effective manner is referred to the
concept of understanding customers. The process is a fundamental for any administration or
business enterprise and aids an organisation in asking customers additional questions in relation
with what other goods or services of the company would tend their interest. Consumer behaviour
is the study of a personnel and the company and the process of selecting ans using the products
or services of the organisation (Afthinos, Theodorakis and Howat, 2017). Understanding the
behaviour of consumers is important for any business organisation because it helps the firm in
understanding what impacts the buying decisions of the consumers. Within this present study,
both micro and macro aspects of consumer behaviour are going to be discussed. Along with it,
theories related to these facets will also be taken into consideration. Furthermore, an illustration
will be explained within the portfolio to depict the idea and prospects of consumer behaviour.
MAIN BODY
Micro and macro aspects of understanding the customers using the theories and examples
There are several types of micro and macro factors or aspects of understanding the
buying behaviour of the consumer that impacts functioning of business. Macro factors mean the
external factors that influence performance of business and consists of facets like customers,
sales, strategies, growth and many more (Said and et.al, 202). These type of factors also
concentrate on recognising the position of the business in relation to its rivalries in the market.
The micro aspects of the consumer behaviour consists of various factors that impacts the buying
behaviour of the customer-base and directly influence the business concern. While macro factors
affects the business organisation in general and the specific industry or economy as a whole.
The competition that an organisation faces is concerned with its products that other
organisations are continuously introducing their differentiated and innovative products in the
market (Cotfas, Delcea and Nica, 2020). For example, within the retail market, Sainsburys has its
various competitors like Tesco, Morrisons and many more that are offering their products and
are facing their rivalries in terms of the quality and prices of the products. In respect to suppliers,
a business concern recognises the availing alternatives of providers that supply needed material
or labour as per the manufacturing process. It should frame the policies regarding purchasing of
materials by rendering bargaining power to firm. It helps an organisation in capturing more of its