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Behavioral approach to customization of trading business in modern conditions

Author

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  • Khramova, A. V.

    (Synergy University)

Abstract

Market changes affect consumer psychology. Consumer behavior is variable. In this study, the author examines some of the main aspects of consumer psychology that help to understand consumer behavior. Consumer behavior includes the psychological processes that consumers go through when recognizing needs, finding ways to meet them, making purchasing decisions (for example, whether to buy a product, and if so, which brand and where), interpreting information, making plans, and implementing these plans (for example, by making comparative purchases or actually purchasing a product).The movement from scarcity to saturation of demand leads to the fact that among a large number of goods and services, the buyer begins to look for something that meets his personal aspirations for self-realization.A well-known point of view used in consumer psychology is behaviorism. This branch of psychology asserts that people's actions are conditioned by external stimuli. Consumers want individuality. Individuality in consumer psychology is how the possession of a product increases their self - es- teem or satisfies a need caused by external influence.The era of mass production of goods has been replaced by customization, reflecting the change in consumer priorities (instead of the desire to be “like everyone else”, a new generation of consumers values their own individuality). Customization (English to customize - customize, change something, making it more suitable for the needs of a particular consumer). This is achieved by making structural or design changes and individualizing products to meet the needs of specific consumers.Customization in the full sense of the word is not an extension of the product line, but a unique product for a specific consumer, which creates a potential demand for a product category.According to the author, the topic of customization is very ambiguous. For example, in the retail business, the use of customization in relation to mass-market food products is not entirely correct. Customization is considered an ideal way to interact in the “supplier of goods or services - customer” scheme. It provides a competitive advantage by creating a higher value for the customer. The main goal of customization is to create a sense in the consumer that the work is done personally for them and meets their personal needs.

Suggested Citation

  • Khramova, A. V., 2020. "Behavioral approach to customization of trading business in modern conditions," Journal of Modern Competition, Synergy University, vol. 14(3), pages 66-78.
  • Handle: RePEc:snr:mdrcmp:v:14:y:2020:i:3:p:66-78
    DOI: 10.37791/1993-7598-2020-14-3-66-78
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