Consumer Behaviour and Insight

Consumer Behaviour and
Insight
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Table of Contents
PROJECT 1......................................................................................................................................3
INTRODUCTION...........................................................................................................................3
Explanation of consumer decision making.............................................................................3
Models of consumer decision making....................................................................................3
Mapping out decision making process for a specific service or product...............................4
Importance of mapping a path to purchase and comprehend customer decision making......4
Level of customer’s decision making.....................................................................................5
Factors that influence decision making..................................................................................6
Evaluation of how marketers respond to decision making procedure....................................7
CONCLUSION................................................................................................................................7
PROJECT 2......................................................................................................................................7
INTRODUCTION...........................................................................................................................7
Compare and contrast key differences between B2B and B2C decision making procedures8
Market research differences between B2B and B2C..............................................................8
How personality, consumer’s perception and self and motivation influence decision making
procedure................................................................................................................................9
Cognitive and behavioural approaches to consumer learning................................................9
Culture and other factors impact on customer behaviour.....................................................10
Critically evaluate how companies utilize an comprehending of consumers behaviour to
influence decision making act within B2C and B2B............................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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PROJECT 1
INTRODUCTION
Customers are the main stakeholder for every business company around which every
ventures activities revolves. Therefore, recognising and understanding factors that influence
decision in context of purchasing an item or services. The current assignment will base on Booth,
which falls under smallest supermarket in United Kingdom. It will explain consumer decision
making concept, models of consumer judgement taking, and mapping of decision making act for
particular service or goods. Furthermore, this study will justify significance of mapping a path
for marketers to purchase and comprehend customer decision making. It will clarify stages of
consumer decision making and factors that influence it. At last this project will evaluate how
marketers respond to further procedure of people.
Explanation of consumer decision making
Customer decision making is a procedure through which buyers selects and chose the
best goods or services out of varied alternatives options for themselves as well as family
members. It consists of five different types of stages, which clearly describe overall process to
marketers, and then they can consider each step to retain people for longer period of time with
their company (Panwar and et.al., 2019). All steps can be a map or guide for them to
communicate and understand effectively with target market. It also includes customers to
determine their needs, collect information, examine alternatives and then make their purchasing
decision.
Models of consumer decision making
There are different types of consumer decision making models available in the world of
business and effectively and systematically define buying behaviour and decision making
procedure of clients in context of food products. Engel, Blackwell and Kollat (EBK) develop a
five phase model of customers buying decision procedure and that concept is very useful for
marketers of organization in recent time (Prakash and et.al., 2017). Along with this model,
economic view or model, passive, emotional and cognitive model are four different kinds of
concepts that efficiently define stages where people take decision regarding food products offer
by Booth supermarket in UK. Rational decision making model, bounded rationality decision
making, Vroom Yetton decision making and intuitive decision making model are also included
in list of consumer decision making models that plays vital role for marketers.
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Mapping out decision making process for a specific service or product
Consumers in recent time are like a fluid that can follow different phases to make a
buying decision and ventures must comprehend those critical paths taken by their clients.
Marketers create an effective map of decision making procedure which is quite beneficial and
important for them. It can be develop or map put by following 4 key stages. It includes problem
identification and alternative proposition enumeration, benefits and drawbacks analysis of each
recommended proposition, detailed argument, possible sub arguments extrapolated from every
proposition line, elimination of equal weight and decision finalization. This process is produced
and map out for particular food item offer by chosen company and that is bread. Mapping a
decision making process of consumers is one of the best techniques for laying down bare reality
pertaining to condition, along with advantages and disadvantages of taking alternative decision
which is driver towards issue resolution (Kumar and Dash, 2016).
Customers Decision making mapping is very helpful as it significantly enhancing
quantitative front on which appropriate judgment are made. It aid in achieving business aims and
objectives by refining thinking approach utilized in arriving at decisions.
Importance of mapping a path to purchase and comprehend customer decision making
Marketers are experienced who are accountable for developing an involvement and
relationship between consumers and services or products offered by organization. It can be said
that to retain consumers for long and gain attention of new ones, they have to map a path which
makes them able to purchase and understand decision making process of consumers (Berman,
2020). It allow them to optimize clients on boarding procedure and make able to comprehend
differences in customers personas as they move from prospect to conversion via buying funnel.
By mapping out decision making procedure for food products such as breads, marketer’s triggers
customers towards buying with help of awareness campaign. In addition to this, mapping can aid
to totally understand each phase of decision making of people, thereby making them able to
attract new buyers towards purchasing goods from Booth. It assists marketers in determination of
gap in business objectives and actual performance.
It creates a right framework for workers to work together in order to improves overall
performance of organization. Mapping path is good way which permits marketers to put more
focus on all phases. Quality of effective journey map is that it aid in identification of those touch
points that can guide in achieving buyers centric aims.
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