Assignment for Consumer Behavior
12 Pages4426 Words144 Views
Added on 2020-05-03
Assignment for Consumer Behavior
Added on 2020-05-03
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Running head: Consumer behavior Consumer behavior
Consumer behavior (Literature review on contemporary consumer behavior issues) The paper talks about the roles and significance of the consumers in the global world. Itexplains that how the marketing activities influence the buying behavior of the consumers.Further, it explains the various issues and barriers which are existed in the consumer behavior. Itdescribes that how consumers are becoming an integral part of the market and how they play asignificant role in our economy. Along with this, it tells that how marketers make plans andstrategies to attract more customers in the global market. The paper also explains the attributes ofthe consumers (Hoyer and Stokburger-Sauer, 2012). A consumer is a person who buys the products and services for personal and individualuse, not for resale and manufacture use. A consumer is a person who makes the buying decisionsrelated to the products and services. The consumer can be affected by the advertisements andmarketing. According to De Mooij and Hofstede (2011), consumer buying behavior is the sumtotal of consumer preferences, attitudes, intentions and decisions regarding the consumerbehavior in the marketplace. After the various researchers it has been analyzed by the Rucker,Galinsky, and Dubois (2012) where he said that consumer behavior is the study of individuals,organizations, groups and the processes which they use to select, use, secure, and dispose ofproducts, experiences, services, ideas to satisfy their needs, expectations, desires and wants.There are various factors which affect the buying behavior of the consumers in the market(Morin, 2011). The factors include marketing campaigns, economic conditions, group influence,personal preferences, and purchasing power. The success and growth of the organizations dependon the consumers buying behavior. Consumer behavior plays a vital role in order to meet thelong-term goals and objectives of the firm. The main aim of the marketing is to satisfy the wants,desires, and demands of the consumers (Chu and Kim, 2011). Consumer behavior is important tolaunch a new product and service in the global market. Consumers are the significant person forthe salesperson and marketer. It is essential for the marketers to study and analyze the consumerbehavior. It is studied by Hosany and Martin (2012) that consumer behavior is the part of themarketing and its main aim is to learn the how groups, persons, and organizations choose, buy,and arrange the products and services in the market (Hoyer and Stokburger-Sauer, 2012). Reed, Forehand, Puntoni, and Warlop (2012) said that consumers are the actors andplayers of the market. Therefore consumers play a vital role in the marketplace. A study has been2
Consumer behavior conducted by the Paul and Rana (2012) where he said that consumer behavior is the decisionprocesses and actions of people, groups, and individuals who buy the products and services forindividual and personal use. Oliver (2014) studied that consumer behavior is the physical activityand decision-making process which individual persons engage in acquiring, using, analyzing,evaluating and disposing of the products and services. Marketers also play a vital role inconsumer buying behavior to increase the sale of the products and services. Consumer behavior can be defined as the actions and decisions that affect the purchasingbehavior and action of the consumer. Consumer behavior helps to understand and evaluate thepast and it also helps to predict and estimate the future. There are various factors influence theconsumer buying behavior which has been discussed below (Venkatesh, Thong and Xu, 2012). Marketing campaigns: Marketing campaigns play a crucial role in consumer behavior.Advertisement plays a significant role to make the decision-making process effectively andefficiently. The marketing campaigns are done on the regular basis which can affect thepurchasing decision of the consumers in the global market (Mick, Pettigrew, Pechmann, andOzanne, 2012). Economic conditions: Economic conditions also affect the consumer behavior in the market.The purchasing power of the consumers depends on the economic conditions of the market. Personal preferences: Consumer behavior is also affected by the likes, morals, dislikes, values,habits. Therefore, personal preferences play a crucial role in consumer buying behavior (Tsai,Egelman, Cranor and Acquisti, 2011). Group influence: It is seen that group influence also affects the decisions and buying behaviorof the consumers around the world. The group includes classmates, family members, neighbors,and immediate labors. All these factors also affect the purchasing power of the consumers in theworld. Along with this, cultural, psychological and social factors also affect the consumer buyingbehavior in the global market (Thompson, Arnould and Giesler, 2013). The study of consumer buying behavior is significant in deciding the plans, pricingpolicies, production policies, and sales and revenue in the supermarket. Further, market focusesand monitors on the behavioral aspects and attitudes in the supermarkets. After the various3
Consumer behavior researchers, it has been measured that consumer buying behavior is not estimated and predicted.Different researchers and concepts have been proved that when an organization is able to meetthe all the aspects and attributes of its customers around the world, then it will become a result ofhigher efficiency and productivity. Further, there are various strategies and plans used by theorganization to provide satisfaction and motivation to the consumers in the world. A consumerdecision-making process is based on the various factors which are existed in the market(Askegaard and Linnet, 2011). Further, CRM model is developed and implemented by many companies to build anddevelop a relationship with customers. It refers to the strategies, practices, plans, technologieswhich are used by the companies to analyze and manage customer data and communicationthroughout the customer lifecycle with improving the business relationship with consumers inthe market (Altman, 2015). Customer relationship management also helps to overcome on the competitors in theglobal market. There are various components of customer relationship model to build anddevelop a reciprocal relationship with customers around the world. CRM model also helps toincrease and maximize the revenue and profits of the company (Tsai, Egelman, Cranor andAcquisti, 2011). It also helps to increase and maximize the upselling and cross-selling of themarket. Through CRM model, the company can maintain good communication with itscustomers in the world. It also helps to maximize the level of satisfaction of the customersaround the world. Further, it decreases the cost of products and services within the organization.By using this model, the firm is delivering good quality of products and services across theworld. In this way, CRM model plays an essential role in consumer buying behavior to attain thelong-term goals and objectives of the firm (Boztepe, 2012). A research has been conducted by the De Mooij (2010) where he said that there is a closerelationship between social media and consumer buying behavior. Social media channelsinfluence the purchasing power of the consumers around the world. A consumer is the mainplayer in the market. Social media channels include internet, facebook, twitter and other onlinesources which play a critical role to increase and maximize the sales of the products and servicesin the global market. The persons can share their experiences, knowledge, reviews, and opinionswith another person by using social media channels. The social media has a great impact on the4
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