B2C & B2B Consumer Decision-making Process : Assignment
Added on 2020-11-12
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B2C & B2B ConsumerDecision-making Process
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Analyse of the stages of the consumer decision-making for a given product/service......3P2 Importance of mapping a path to purchase and understand consumer decision making formarketer..................................................................................................................................5M1 Evaluation of marketers respond to the decision-making process by the application ofrelevant concepts and models.................................................................................................6TASK 2............................................................................................................................................6P3 Comparison of the key differences of the decision-making process in B2C and B2B.....6P4 Evaluation of different approaches to market research and methods of research used forunderstanding the decision-making process in both B2C and B2B.......................................7M2 Evaluation of how different factors influence decision-making and buying behaviour..8TASK 3............................................................................................................................................9P5 Evaluation of how marketers influence different stages of the decision-making process ofB2C and B2B..........................................................................................................................9M3 Critical evaluation of how marketers influence each stage of decision-making processwith reference to relevant methods and models...................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONConsumer behaviour is a study in which company identifies the buying pattern of itscustomers and group of individuals (Cawsey and Rowley, 2016). This study involves the buy,use and dispose of goods, ideas and services in order to satisfy their wants and needs. Marketersuse this study to understand the need of goods which are to be sold in the market. They analysepattern in which consumers buy the product and they also determine that which product shouldbe sold in the market, how they can present its goods to its customers and to identify that whatgoods are obsolete and need to be removed from the market.The following report contains the detail information and the stages involved in the consumerdecision making process. It also explains the importance of identifying and understandingconsumer decision making process for a marketer. It also shows that how a marketer responds tothese consumer decision making process by applying relevant concepts and model. This reportalso contains the difference of decision making process and its different approaches in B2C andB2B. it also includes the marketer influence in different stages of decision making process.TASK 1P1 Analyse of the stages of the consumer decision-making for a given product/serviceConsumer Decision Making Process: It a process which involves the need of product forthe consumer. Before purchasing any goods or services an individual goes through these stagesof consumer behaviour which includes identifying the need of the consumer, gatheringinformation about the product, evaluation of various alternatives in order to satisfy the need of aconsumer and than making the final decision of buying that product, these steps are basicallyneeded when a consumer is buying some expensive product or services such as Car, Laptop etc(Godey and et.al., 2016). There are various models involved in the consumer decision makingprocess such as stimulus response model of buyer behaviour, Nicosia model, Solomon model ofcomparison, the five values influencing consumer choice behaviour, Engel kollat black wellmodel, Howard Seth model and Input, Process and Output model. In Airdri company adopted theinput process and output model as explained below:Input, Process and Output Model: in this type of model the input which is given by thecustomer is the company's marketing efforts which include the price, place, product and3
promotion and social environment which include the references group, family, society, etc. thesetwo factor collectively create the input in minds of customers.Following are the five stages involved in the decision making process of the consumer: Need Recognition: it basically occurs when a consumer identifies the need for a givenproduct and to fill up the gap of a particular product. It is important for companies todetermine the need of its customers and provide the specific good in order to fulfil theirneed.Information Search: This stage involves the complete research about the product. In thisstage consumer tries to gather information about the product from various differentsources. For the purpose of gathering information a consumer may involves its referencegroup, internet, company brochures about the product. In this step consumer tries to findout the consumers who are already using that product, they heavily relay on the reviewsabout the product used by various consumers.Evaluation of Alternatives: This step involves in the evaluation of various alternativeswhich are available in the market in order to satisfy their need. After the determination ofthe need and the product which can satisfy its need they switch to the various alternativesavailable. In this process the consumer may evaluate the reviews, price, quality andvarious other factors and then select a most preferred product which satisfies theirparameter. Purchase Decision: After all the above stages are passed than the consumer makes afinal decision whether to purchase a product or to research more to satisfy their needs. Inthis stage consumer has already evaluated all the possible reasons and facts and hadfinally arrived at a decisions to purchase the product or service. This can be based uponvarious reasons including the emotional connections of their family members or variousmarketing campaigns or sometimes it may depend on both.Post Purchase Behaviour: This is a stage in which consumer analyse that whether theproduct is able to satisfy their needs or not (.Lantos, 2015). If the experience achievedfrom the product is positive than it may help the company to increase its customer basethey will help in influencing other potential customers to buy that product and willbecome brand ambassador of the product brand.4
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