Assignment on Consumer Behavior
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Added on 2019-12-18
Assignment on Consumer Behavior
Added on 2019-12-18
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AssignmentConsumer BehaviorStudent Name:Student Id:College Name:College ID:1
Executive SummaryThe following research proposal provides some brief knowledge about the rewardprocess followed by the organisations to increase the loyal customers in the market.The research proposal also analyzes the different aspects of the increment of loyalcustomers to recommend some effective measures that help the business organisationsto increase the loyal customers in the market. The research proposal collects somefeedback from the customers about the process followed by the business organisationsto increase the number of loyal customers in the market. The researcher conducts theresearch on the Whitakers Chocolates ltd to provide information about the processfollowed by the company to increase the loyal customers in the market. 2
Table of ContentsIntroduction ......................................................................................................................................................................1Overview of the Whitakers Chocolates ltd........................................................................................................................1Task 1.................................................................................................................................................................................21.1 Outlining Loyalty of Consumers and effects of Reward Schemes................................................................................21.2 Factors influencing the selection of the research project............................................................................................31.3 Reviewing the main factors for choosing the topic:.....................................................................................................31.4 Research Project Proposal: An investigation into Consumer Loyalty and Research Schemes......................................41.5 Presentation of a Gantt Chart with respect to research specification..........................................................................5Task 2.................................................................................................................................................................................72.1: Role of research resources and the relationship between the research resources and research questions and hypothesis..................................................................................................................................................72.2: Required ‘Questionnaire’ to collect data for the research proposal .........................................................................92.3: Presentation of the collect data from the research project by using the graph and table .......................................10Task 3: The process of interpret and analyze the results of the research proposal ........................................................203.1: Application of research evaluation techniques to evaluate the results ...................................................................203.2: Interpretation and analysis of the research topic by using the frequency and percentage......................................213.3: Recommendations of different areas for the further research.................................................................................23Task 4: The presentation of the result and recommendations of the result....................................................................244.1: Recommendations through a proper media.............................................................................................................24Conclusion.......................................................................................................................................................................30Bibliography:....................................................................................................................................................................313
IntroductionConsumer satisfaction is a major factor for the success of business organisations.Therefore, it is one of the major objective of the business organizations that have toachieve by them to run their business activities successfully and increase the marketshare for the in the industry. The satisfaction of the consumers depends on the qualityof the products and services provided by the business organizations. The consistency inthe quality of the products can produce some loyal customers for the organizations.Some new organizations also provide some rewards for producing loyal consumers inthe market. The business organizations have to recognize the behavior of the consumerto acquire the knowledge about the process of satisfying the customers. However, thebusiness organizations try to satisfy the customers by meeting the requirements anddemand of the consumers (Solomon,2014, p.235). Consumer satisfaction alsodepends on the after sales services provided by the organisations. Businessorganisations have to use some appropriate techniques and tools to acquire a briefknowledge about the demand and requirements of the customers. Organisation alsotries to design and develop their products according to the requirements of theconsumers to achieve high customer satisfaction. The following research proposalprovides a brief knowledge about the process by which the modern businessorganisations acquire the knowledge about the Consumer behavior. The processfollowed by the business organisations to produce some loyal customers in the marketalso will be mentioned in the study. Overview of the Whitakers Chocolates ltdThe research proposal also provides brief knowledge about the process followed by theWhitakers Chocolate ltd to produce some loyal customers in the market. Whittaker'schocolate ltd is one of the leading chocolate manufacturing companies in UK which wasestablished by the John and Rebecca Whitakers in 1889. The Company successfullysatisfies the customers with their chocolate products for the last 128 years. Thecompany also develops their technologies and production process of the chocolates4
according to the demand of customers. In resent the company produces 10 millionchocolate products every week. Task 11.1 Outlining Loyalty of Consumers and effects of Reward SchemesConsumer loyalty can be explained as ‘the outcome of consistent experiences ofpositive emotions’ which provides the customers satisfaction based on physicalattributes including the product or service offered and their perceived values. It, thus,refers to the emotional bond that the consumer has with Whitakers Chocolates ltd. thataccounts for the loyalty.Consumer Loyalty: As per Peter et al. (2013, p.122), to hold back old consumers iseasier than attracting new consumers. For this reason, consumer experiencemanagement appears to be the most effective approach to rise up consumersatisfaction, retaining them and driving their loyalty to a higher level. Loyal customersare more inclined to buy supplementary products and services while ensuring sales,thus saving expenses related to the education of consumers and marketing the product.Loyalty Schemes and Reward Programs: Consumers making frequent purchases areoffered the loyalty program. Such schemes and programs allow the consumerbeforehand access to special coupons on sales, merchandises for free. It even includeschances to lay hands on Whitakers Chocolates ltd.’s new products before generalconsumers can. Overall effect on consumer psychology: Taking into account the peaking competitions intoday’s business landscape, such programs can help the organisation stand ahead ofother firms competing in the race. Such distinction happens to be effective in occupyingthe attention and loyalty of consumers while boosting profits as the consumer happensto cherish the product or service in present and even after its use (Chernev et al. 2015,p. 341).5
1.2 Factors influencing the selection of the research projectSocietal Issues: with the change in society, new topics emerge out which requireattention. Whether to choose a topic or not and to carry out research on it is influencedmainly by its importance in the changing society. With new trends, new issues arise. Tounderstand these new issues, new researches have to be conducted.Researcher Values: Based on the beliefs, interests and the values one holds, theresearcher may be instigated to choose a topic. It can often be the outcome based onthe experiences the researcher holds, religion he belongs to, his social class, and maybe even based on how he or she wants the society to change.Perspectives: Perceptions vary from person to person. Based on the insights of theresearcher and also, what and how interests him, the researcher may wish to choose atopic he finds suitable as per his interest.Funding: Money is of the chief essence in all research related works. Thus theavailability of funds to carry forward the research is very significant. The more the topicappears to affect the society for its good, easier may it be to attract funding. It is a mustfor researchers to be able to afford the ongoing the research on the topic they propose.Data availability: The availability of data for a new topic or access to data existingbefore hand for smooth operation of the research must be kept in mind. Oftenresearchers are attracted to fields with gaps. But they must keep in mind the availabilityof data if they wish to fill the gap.1.3 Reviewing the main factors for choosing the topic:Critical analysis of socially conditioned psychologies: In the blooming era ofconsumerism, understanding the mindsets, viewpoints and behaviors of consumers isof chief importance to expect the smooth consumption of the product or service beingprovided (Wirtz et al. 2007, p. 332). Availability of data: Easy collection of data through questionnaires on public forums,social platforms and daily consumers in the market. This not only helps inunderstanding the needs of the consumers but also realizing the expectations they wishto be fulfilled by Whitakers Chocolates ltd. they are loyal to.6
Understanding the effect of loyalty schemes on consumer can be made from a widerange of people: With the rise of brand loyalty, consumers have become moreconsistent with their choices (Yi and Jeon, 2003, p. 231). Based on WhitakersChocolates ltd./brand’s strategies, loyalty programs to give rewards and incentives suchas samples and free gifts attract even confused consumers to their products.Focusing on company’s promises and people’s expectations can provide increasedprofits: As analyzed by Dowling et al. (2003, p. 296), trying to discover the gap betweenthe brand and consumers’ ideals and what exactly they want, Whitakers Chocolates ltd.strives to meet their end. This in the process can lead Whitakers Chocolates ltd. tocreate new products, pulling in more customers while trying to meet the demands of theones loyal to them.1.4 Research Project Proposal: An investigation into ConsumerLoyalty and Research SchemesCustomer trends:World Wide Web - The Promising FactorIn the age of digitalization, most consumers are deeply influenced by the internet. Theyfail to accumulate loyal emotions for any particular brand. The availability of excessinformation on the web helps a consumer to compare and contrast among a wide rangeof factors before buying a product.Programs of Direct Purchase:This program is a method which allows the consumer to purchase stocks in a companyfirst hand, i.e. directly from Whitakers Chocolates ltd. without any broker fees or anykind of commission, the customers are aided an advantage.Customer Relationship Management:The principles, guidelines and practices being followed by Whitakers Chocolates ltd. tointeract with it consumers is referred to as ‘Customer Relationship Management’ orCRM. The building blocks of CRM include Whitakers Chocolates ltd.’s official website,emails, mass mailings, telephone calls and social media interaction.Customer Information File:7
As opined by Lewis (2004, p. 289) an electronic or physical file storing all exclusiveinformation (personal and account info) of a consumer is known as ‘CustomerInformation File’ or CIF. The profiles of such sensitive information must be secured tomaintain secrecy and accuracy of such sensitive data.Transferable Points Program:The transferable point program enables customers to use the points earned by usingcredit cards to be transferred and used in any other program they are participating in.Tailored Advertising:With the rise of internet, tailored advertising has become more widely used strategy.This involves issuing coupons for particular products or services (Keh and Lee, 2006, p.129). This is based on purchases made in the past using datas to deliver a message onadvertising to particular segments of market or campaigns designed to run in particularareas.1.5 Presentation of a Gantt Chart with respect to researchspecificationActivitiesFirstWeekSecondWeekThirdWeekFourthWeekFifthWeekSixthWeekSelection of the topicCollection ofsecondary dataLiterature reviewSelection of researchtechniqueCollection of primarydata8
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