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Assignment on Consumer Behaviour (Doc)

   

Added on  2021-04-24

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Running head: CONSUMER BEHAVIOURConsumer BehaviourName of the StudentName of the UniversityAuthor’s note
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1CONSUMER BEHAVIOURIntroduction Consumer behaviour is the buying tendency of the people who agree to pay a certain sumof money in exchange of some product or service (Ashman, 2015). It is the study of how theconsumers of a particular product or service seek, purchase, analyze and dispose of products andservices. It is the psychology of marketing- the study is utilised to understand why consumersbuy a product in the place of another similar product. Business organisations offer products orservices so that they get money in return and grow the business even further. A businessorganisation operates in an industry or market of the specific product or service or businessmodel that the company has adapted. In order to ensure that the product or service has a uniqueimage in the company it has to device strategic plans, and understanding the trends or consumerbehaviour is essential as it guides the company to develop, innovate, diversify etc in order toengage the customers they are targeting (Solomon et al., 2014).The strategies that the company formulates impact the customers of the companyextensively. The strategies are a source of communication and regarding the products andservices that the company is offering. It persuades the way the consumers imagine and perceive,the product and in turn influence the buying decisions (Sparks et al., 2013). The retailer that has been chosen is Amazon Australia; the company is a multinationalorganisation and is known for the customer centric approaches of business operation. Theorganisation is led by the visionary and transformational leader Jeff Bezos who has explained inseveral interviews that the focus of the company is to provide the customers with products andservices which are at par with the needs and requirements of the company (Amazon.com, 2018).
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2CONSUMER BEHAVIOURConsumer decision-making modelA consumer avails a product or a service not always out of need or requirement asexplained in the Maslow’s hierarchy of need theory. Apart from the necessities all other productsthat a consumer buys is based on various factors. Needs develop on the basis of the livelihood ofa person and that influences the buying behaviour. Figure 1, shows the model of a simpleprocess- there are input factors such as the efforts that the company makes and socio-culturalimpact on the consumer initiates that process of buying behaviour among the people (Ashman,2015).
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3CONSUMER BEHAVIOURFigure 1: Consumer Decision Making ModelSource: (Ashman, 2015)People get influenced by the marketing efforts of the company and also by the family andfriends and other aspects of the society that the customer is in bound (Ashman, 2015).
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