In recent years, technology has been integrated into wearables such as watches, glasses and wrist bands. A research conducted by Deloitte Touche Tohmatsu Limited (DTTL in 2014 revealed that smart glasses, watches and fitness bands are likely to generate about 3 million in the year 2014 alone. However, it is estimated that smart glasses will generate higher revenue followed by fitness bands and smart watches (Deloitte, 2014).

Based on consumer buying decisions, consumer needs is the causation factor for these changes. With the advancement in technology people are trying to make life as simple as possible. With wearable technology, professional, social and private lives of the people will be improved (Deloitte, 2014). People have the need to improve their life and thus desire the technologies such as smart glasses, watches and fitness bands.

Marketers will have to create the need in the minds of the people. As Fitzgerald (2014) says, “People don’t just want new devices because they exist. “Prove there is tech I want to wear,” to do this, profiling the consumer behavior is significant. One behavior to profile is the importance of the desired product. This will determine the effort devoted on the acquisition of the product.  There is also need to profile the social, cultural and psychological factors that affect the consumer decision making process. This way it will be easy for marketers to create a need.

Based on what i have learnt, understanding and profiling consumer behaviour is important for marketers.  First, it helps marketers understand the needs of the consumers. All the marketers need to do is inform the consumer that there is a way of fulfilling the need. Again, profiling is important in that some factors such as cultural and social factors are passed on from one generation to the other. Cultures are different and thus make different decisions.

References

Deloitte. (2014, February 18). The Outlook for Wearables: The Eyes Have It – Deloitte CIO – WSJ. Retrieved April 19, 2016, from http://deloitte.wsj.com/cio/2014/02/18/the-outlook-for-wearables-the-eyes-have-it/

Fitzgerald, B. R. (2014, January 3). Coming to CES 2014: Wearables and More Wearables. Retrieved April 19, 2016, from http://blogs.wsj.com/digits/2014/01/03/coming-to-ces-2014-wearables-and-more-wearables/

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