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Consumer Behaviour and Consumer Insights

   

Added on  2019-12-18

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Consumer Behaviour and Consumer Insights
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Table of ContentsINTRODUCTION...........................................................................................................................3Section A .........................................................................................................................................41. Understanding of consumer behaviour and consumer insight. Briefly explain any threemarketing decisions which need an urgent attention of marketing managers of H. Samuel......42. Based on the case study, identify and justify any three-research objectives for developingconsumer insight for H. Samuel. ................................................................................................53. Analyse and propose a consumer behaviour model that links factors of consumer decisionmaking to purchasing H. Samuel’s products. Your proposed model should theoretically relateconsumers’ two external and two internal factors with the three research objectives/issuesidentified in Qs 2.........................................................................................................................53. Research Approach .....................................................................................................................9SECTION B...................................................................................................................................104.Survey findings on each of the three research objectives identified for H Samuel..............10Findings..........................................................................................................................................105. Recommendations.................................................................................................................11CONCLUSION .............................................................................................................................11
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INTRODUCTIONConsumer behaviour and consumer insights are related to each other and yet a bitdifferent. Consumer behaviour is the study of the purchasing behaviour of consumers, thatincludes their buying behaviour like what is in their mind when they select , buy, use and disposeideas, goods, and services. This study is done to know the needs and requirements of customersand to know their feedback on it(Kardes Cronley and Cline 2014). Whereas consumer insight isthe deep study on their behaviour which if conducted successfully has the potential to changetheir behaviour and will result in benefiting both the consumer and the seller. It is somewhatrelated to the research and development on the consumers interests. The present report is basedon the case study of H. Samuels which is the world's largest specialist jewellers.(Xiang.,Magnini,and Fesenmaier2015). operating in UK and Ireland with 303 stores running . It hasbeen known for a fact that to sustain in market, certain strategies should be change and the studyof change in consumer behaviour must be conducted every then and now. The reviews about H.Samuels are not good and for retaining their customers, study of consumer behaviour andconsumer insights must be done which is conducted in this report. As it requires a deeper insightinto consumer behaviour.Section A 1. Understanding of consumer behaviour and consumer insight. Briefly explain any threemarketing decisions which need an urgent attention of marketing managers of H. SamuelConsumer behaviour is the study of the steps that are involved when individuals orgroups select ,purchase, use or dispose of products to satisfy their needs and desires. Whileconsumer insight focuses on the interpretation of trends in human behaviours which is done toincrease effectiveness of products or services(Oliver 2014). It means collecting information boutthe preferences of customers that allows the businesses to acquire, develop and retain theircustomers. As the reviews of H. Samuels are not at all good , they might loose their customersso there is an urgent need to bring change in the marketing decisions. The marketing managers ofH. Samuels need to give urgent attention to these three decisions:Cognitive: cognitive decision-making involves thinking part. It further have threecategories such as -
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◦Deliberate – this style of decision making is a structured process and make decisionsbefore time so that when time arrives they are ready to take instant actions.◦Rational- it is a multi step process for making choices among the alternatives that aretheir in the market. The process of rational decision making favours logical thinking.Habitual: This type of decision making involves only minimal search(Paul and Rana2012), consumers don't search for various alternatives before purchasing. These areroutine purchases. These decisions takes place mostly in case of necessity items that theyare habitual of buying. Affective: It is a strategic model of choices where rational and emotional process .Emotional processes of decision making makes you purchase things with which you areattached emotionally( MacInnis and Folkes 2010.). Then irrespective of whether youneed it or not, you will buy it.So the marketing managers need to focus on these behaviours of customers before making anystrategies.2. Based on the case study, identify and justify any three-research objectives for developingconsumer insight for H. Samuel. According to the case study, it has been concluded that H. Samuels are having problemswith managing and retaining their customers due to the bad services of them or due to the onlinereviews , people are spreading bad word of mouths . They are facing problem in attracting them.For developing consumer insight they have to understand their customers preferences deeply andwork for attaining their wants and requirements( Heinonen 2011). They should deal with thecomplaints of customers, their after sale services, deal with the dissatisfaction of customers,product quality, perception of customer, online perspective, word of mouth , make them brandloyal etc.(Schmitt 2011) For this the objectives that they can attain for gaining consumer insightsare-To analyse H. Samuels customer satisfaction on cultural perception towards emotionalattachment by country differences in U.K. To examine brand loyalty of H. Samuels after the purchase of products based onvarious complaints from the UK customersTo evaluate Consumer Ethic and Corporate Social Responsibility of H. Samuels productsto their UK customers.
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