Consumer behaviors control the type of marketing strategy that organizations such as small businesses employ, so they conduct studies to understand which strategies they will adopt and which will prove to be most effective. They need to know which their target audiences are and what their demands are and how they will react to their promotions.
Organizations go through past records of consumer behaviors to determine future sales. Sales forecasts estimate the expected sales for a specific market during a particular time period. Different methods are used for forecasting sales, most of them are used in obtaining information directly from past buyers. Some examples of forecasting methods are quantitative and qualitative.
Research surveys are conducted in order to study consumer behaviors. This process help the companies to understand what consumers want, as well as how they respond to advertising. They also help to find out the problems. Some examples of research surveys are new-product concept tests, product use tests and brand name recognition.
Companies, including small businesses, use the Internet to conduct much of their research. On the basis of their findings, organizations determine the right prices, attributes and sales promotions for their products. They also decide the optimal places and market conditions in which to sell.