Consumer Behaviour and Insight

Consumer Behaviour
and Insight

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Analysis of different decision making stages for automobile products and services.......3
P2. Importance of mapping a path for understanding the consumer decision-making journey
................................................................................................................................................5
TASK 2............................................................................................................................................6
P3. Key difference process of decision-making process for a particular product in context with
B2B and B2C..........................................................................................................................6
P4. Different approaches to market research for understanding the decision-making process
for B2B and B2C....................................................................................................................8
TASK 3............................................................................................................................................9
P5. Assess how marketers of Aston Martin can influence the various stages of the decision-
making process of B2C and B2B...........................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Consumer insight can be defined as a way of interpreting the trends of human behaviour,
to analyse how they perception about product and service (Pirbazari and Jalilian, 2019). Through
this insight, managers of a firm can develop plans to change purchasing behaviour of customers
for mutual benefits. The present report is based upon Aston Martin which deals in automotive
industry that manufactures and distributes luxury cars in entire world. It has established the
business in 1913 in London at initial level but now has near about 150 dealerships over 50
nations, that made this firm as one of the branded automobile. Top management team of this firm
decides to launch electric sports car having high technological features, that provides more
security to customers. For this purpose, its management is going to analyse the different stages of
decision making of customers to grab their attention. In this regard, importance of conducting of
such analysis, along with a comparison is made on key difference of decision making in regards
to B2C and B2B is described. Furthermore, how marketers of present firm can influence the
decision making process of targeted customers also being developed.
TASK 1
P1. Analysis of different decision making stages for automobile products and services
Consumer insights refers to a process of analysing the market research for evaluating how
customer perceives a brand, that majorly influences their purchasing behaviour (Szmigin and
Piacentini, 2018). As per key law of marketing, it becomes essential for every organisation to
gain insight of consumer behaviour, for earning and keeping trust of targeted audience. For this
purpose, they need to collect customer related data and interpret the same, in systematic manner.
This will allow a firm to acquire, develop as well as retain customers, by offering them products
as per their desire (Ro and Ha, 2019). In context with Aston Martin, it is one of the branded
manufacturing automobile firm that offers highly innovative and luxury cars. But as people have
become more aware about sustainability and fuel efficiency of cars, therefore, before launching
any new car, it is essential for respective firm to evaluate different decision making stages of
customers. Here, decision making process of customers are mostly affected by brand image,
marketing activities and views of others who have already purchased a particular product
(Kimmel, 2018). Customers decision making process can also be defined as a way of purchasing
a product from availability of different options. In this regard, different decision making stages

of customers that describes how purchasing behaviour of them is changed, are explained as
below -
Step 1: A problem or a need: It is the initial stage of consumer decision making journey,
which states that how people decide what they need (Forghani, Kazemi and Ranjbarian, 2019). It
describes that decision of people for purchasing a commodity is either depended on their needs
or problem they are facing to meet their desires (5 Stages of the Consumer Decision-Making
Process and How it’s Changed, 2018). Through identification of this, management of Aston
Martin can help customers in identifying their needs and in deciding what they have to purchase
for the same.
Step 2: Information Search: After identifying the decision of people in terms of need or
problem for purchasing a thing, now management of Aston Martin needs to collect and gather
relevant information (Anaza and et. al., 2019). For this purpose, managers of respective firm
require to conduct internal and external market analysis, to evaluate how new product can meet
desires of customers. This would help in launching the new innovative electric car more
successfully.
Step 3: Evaluation of alternatives: Through above stages, marketing managers of Aston
Martin can evaluate how to get positive perception of customers, towards its new products. Now,
at this third stage of customer decision making journey, managers are required to provide
alternative options to customers, on those sites where they spend their most of the time, to get
reviews of competitor products (Nyadzayo, Matanda and Rajaguru, 2018). Through providing
options to customers how new product of Aston Martin can meet their needs, will help in
positively influence the purchasing decisions of them. Along with this, other alternatives can also
be developed like marketing campaigns, advertising on those channels that used by competitors
and more.
Step 4: Purchasing decision: This stage refers to be the most valued one, where
managers after developing a number of alternatives to attract potential customers towards its new
product, needs to choose the best option (Vieira and et. al., 2019). Since it has been evaluated
that people are spending most of their times on social sites that highly influenced their
purchasing decision. Therefore, it refers to be best alternative for Aston Martin to market its new
product over there, through designing the websites.