BUMKT5902 - Marketing Management

Running head: MARKETING & MANAGEMENT: CONSUMER PURCHASE ANALYSIS
Marketing & Management: Consumer purchase analysis
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MARKETING & MANAGEMENT: CONSUMER PURCHASE ANALYSIS
Executive summary
This report explores a data which has been collected from a specific consumer’s purchasing
behavior. The first part tries to define the consumer’s position in the research. The particular
consumer behavior in response with the marketing and consumer theories helped to understand
the practical implication of such practice. It has also been experienced that the consumer
behavior is constantly changing. The consumer is always looking for variations and better
options. However, some industrial products have great influence on the consumer’s life, as he
keeps purchasing them multiple times. The exploratory research on the selected product helps
to understand the successful company or product’s marketing and business strategies and how
they are influencing the customer decision making process. The comparison between the
different types of products also help to realize the products’ position in the market and what the
determinants that are influencing their business are.

MARKETING & MANAGEMENT: CONSUMER PURCHASE ANALYSIS
Table of Contents
Introduction.................................................................................................................................. 3
Consumer.................................................................................................................................... 3
Psychographics........................................................................................................................ 4
Personality traits....................................................................................................................... 4
Roy Morgan’s value segment...................................................................................................4
Consumer behavior..................................................................................................................... 5
Maslow need-hierarchy and consumer behavior......................................................................5
The black box model................................................................................................................ 8
Woolworth and Fresh food........................................................................................................... 9
Comparison between high involvement and low involvement products.....................................10
Conclusion................................................................................................................................. 12
References................................................................................................................................ 13

MARKETING & MANAGEMENT: CONSUMER PURCHASE ANALYSIS
Introduction
Consumer purchasing behavior is complicated and multi layered process. Several
cognitive factors are controlling the consumers’ choice, preference and need that lead to the
purchasing decision. The consumers are engaged in purchasing and decision making process
every day. He applies certain methods every time he buys a product or acquires some service
consciously or not. The psychology of the consumer plays the most important role in the
decision making process. Consumer psychology affects each steps of selecting, identifying,
searching, collecting, interpreting and purchasing. Consumers take help from many external
mediums in order to make the decision. The peer groups, own idea, other sellers and the
internet help him in the process.
Consumer
Age- 25
Gender –Male
Marital Status – Single
Education Level – university
Occupation - student
Generational Cohort – Generation Y
Value Segment – “Look at me”