Often, marketers and sociologists analyze consumers and their financial capabilities. Often this is also necessary for the owners of trade enterprises or creditors. In any case, you must do this in the correct sequence.
It is necessary
- - Analysis skills;
- - knowledge of the consumer and specific market areas.
Instructions
Step 1
Keep track of the income and expenses that the consumer maintains, usually based on a personal budget. This can be a financial plan of a family, household or individual, where you need to add up expenses and income for a certain period. Naturally, such budgets can be excessive or deficient. In the event that the consumer's expenses and incomes correspond to each other, then the budget can be said to be balanced.
Step 2
Define the consumer's financial goals. They depend on preliminary decisions about large purchases (buying a home, taking a vacation trip, starting a business), which are usually difficult to realize using only current income. The consumer is always limited in his financial capabilities, and the purchase of one item may lead to a refusal to purchase another. The account also takes into account the necessary savings or consumer credit.
Step 3
Estimate the consumer's estimated income by adding up all possible sources of income. The main ones include wages for professional activities, and others - receipts from the accumulated material condition or the rational use of funds.
Step 4
Give an estimate of consumer spending. This is the most difficult part of consumer behavior in the financial markets. Here you need to show as much knowledge and skills as possible in marketing. The costs of consumer actions such as shopping, credit, and savings are highlighted.
Step 5
Decide on the consumer's ability to pay and choose options in accordance with the expected income: secondary or primary, cheaper or more expensive. It is necessary to decide what spending can be reduced so that the consumer's budget is balanced. In this process, consumers are faced with what is called the replacement cost. It is necessary to decide what goods and services the consumer should give up in order to purchase other goods or services.
