Consumer Behaviour and Insight | analysis

Consumer Behaviour and Insigh

Contents
INTRODUCTION.............................................................................................................................3
Activity 1...........................................................................................................................................3
P1Analyzeofthestagesoftheconsumerdecision-makingforagivenproduct/service.........................3
P2 Importance of mapping a path to purchase and understand consumer decision making
formarketer....................................................................................................................................5
M1Evaluationofmarketersrespondtothedecision-
makingprocessbytheapplicationofrelevantconcepts andmodels...................................................6
Activity 2...........................................................................................................................................6
P3Comparisonofthekeydifferences ofthedecision-makingprocessinB2CandB2B........................6
Difference between the buyer decision-making process...............................................................6
P4 Evaluation of different approaches to market research and methods of research used
forunderstanding thedecision-makingprocess in both B2CandB2B.............................................8
M2 Evaluation of how various factors influence decision-making and buying behavior............9
Activity 3...........................................................................................................................................9
P5Evaluationofhowmarketersinfluencedifferentstagesofthedecision-
makingprocessofB2CandB2B.......................................................................................................9
M3 Critical evaluation of how marketers influence each stage of decision-making process
withreferenceto relevantmethodsand models..............................................................................10
CONCLUSION................................................................................................................................10

3
INTRODUCTION
Consumer behavior may be a study that identifies the purchasing habits of people and groups of
individuals (Cawsey and Rowley, 2016). The study involves the acquisition, use, and disposal of
products, ideas, and services to fulfil their needs. Marketers are utilizing this study to raised understand
the demand for items on the market. They assess how consumers purchase items and judge which
products should be promoted, how they'll show their products, and which products are obsolete and
must be aloof from the market. The report that follows provides a wealth of knowledge still because the
methodologies employed in consumer decision-making. It also illustrates the importance of a marketer
understanding and recognizing the customer decision-making process. It also demonstrates how a
marketer responds to those customer decision-making processes by employing pertinent concepts and
models. This research also looks at the differences in B2C and B2B decision-making processes and
techniques.
Activity 1.
P1Analyze of the stages of the consumer decision-making for a given product/service
Consumer Decision-Making Processit is a process that involves the necessity for a product for
the patron. Before purchasing any goods or services a non-public goes through these stages of
consumer behaviour which contains identifying the requirement of the patron, gathering information
about the merchandise, evaluating various alternatives to satisfy the necessity of a consumer then
making the last word decision of buying that product, these steps are basically needed when a consumer
is buying some expensive product or services like a car, computer etc (Godey and et.al., 2016). There
are various models involved within the patron decision-making process a touch just like the stimulus-
response model of buyer behaviour, Nicosia model, Solomon model of comparison, the five values
influencing consumer choice behaviour, Engel Kollat black well model, Howard Seth model and Input,
Process and Output model. Airdri company adopted the input process and output model as explained
below:
Input, Process and Output Model:
During this type of model, the input which is given by the customer is that the company's marketing
efforts which include the price, place, product, promotion and social environment which include the

4
references group, family, society, etc. these two factors collectively create the input in minds of
consumers.
Following are the five stages involved within the decision-making process of the consumer:
• Need Recognition: it basically occurs when a consumer identifies the necessity for a given product
and to replenish the gap of a specific product. it's important for companies to see the requirement of its
customers and supply the precise good so as to fulfil their need.
• Information Search: This stage involves the whole research about the merchandise. during this
stage consumer tries to collect information about the merchandise from various different sources. For
the aim of gathering information a consumer may involves its reference group, internet, company
brochures about the merchandise. during this step consumer tries to search out the consumers who are
already using that product, they heavily relay on the reviews about the merchandise employed by
various consumers.
• Evaluation of Alternatives: This step involves within the evaluation of assorted alternatives which
are available within the market so as to satisfy their need. After the determination of the necessity and
also the product which may satisfy its need they switch to the assorted alternatives available. during this
process the buyer may evaluate the reviews, price, quality, and various other factors and so select a
most preferred product which satisfies their parameter.
• Purchase Decision:finally, the above stages are passed than the patron makes a judgement whether
to buy a product or to research more to satisfy their needs. during this stage consumer has already
evaluated all the possible reasons and facts and had finally acquired a choice to buy the merchandise or
service. this may be based upon various reasons including the emotional connections of their members
of the family or various marketing campaigns or sometimes it should rely on both.
• Post Purchase Behavior: this is often a stage during which consumer analyze that whether the
merchandise is ready to satisfy their needs or not (Lantos, 2015). If the experience achieved from the
merchandise is positive than it's going to help the corporate to extend its customer base, they're going to
help in influencing other potential customers to shop for that product and can become brand
ambassador of the merchandisebrand.