This presentation explores the consumer behaviour and insight related to Apple iPhone. It discusses the key differences in the decision-making process, different approaches to market research, and factors influencing decision-making and buying behavior.
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Consumer Behaviour and Insight: Apple IPhone (TASK 2)
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Table of Contents Introduction Compare and Contrast the key differences of the decision-making process Different approaches to market research and methods of research Evaluation of how different factors influence decision-making and buying behavior Conclusion References
Introduction Consumers are the people who are buying and purchasing products and services from the market areas for their personal usage and requirement Consumerbehavioristhestudyofaperson,community,societyand organization for their choices of goods and services from the market. The report is based on Apple which is international technology company that design, develop and sells consumer electronics in the large market area.
Compare and Contrast the key differences of the decision-making process The difference of decision making process on the basis of B2B and B2C that are described as under: BasisB2BB2C Purchasing procedureConsumer purchasing the Apple product likeIPhonefortheirpersonaluse business buyer who buys products and services for usage in their organization. For example, in B2B the buying power is complex so this will directly affect on decisionmakingofcertaincustomers whilebuyingAppleIPhoneproduct. This is required for company manager is to develop some less expensive goods for other small businesses. InB2C,thecustomersareselecting thosegoodsorpurchasewhichare needed by them in personal life. For example,Applecompanyprovide IPhone brand for high class people who have high purchasing power only.
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Contd.. Decision making processFor making decision in B2B is long standing procedure and it mainly timeconsumingtoconvincethe companyexecutivesfromApple. Theyareofferingsuchproducts whicharedemandingbytheir customers as per their requirement. In B2C business, consumers make a decision,infast,rapidmanner, regardingbuyinggoodsand servicesfromcompany.For example,Applealsointroduce IPhone product which is not refuse by any buyers and take fast decision for purchase this. Price pointIn B2B, customers are not directly paid to the marketers. For example, Appleisfixpriceaspertheir businesspartner'smutual understanding and they are making decisionregardingpurchasing Apple IPhone. But it is expansive so this is not buy by all businesses. In B2C, sales volume have lower price and it is very less often paid in all over the given time period. For instance,ApplealsoadoptsB2C approachforattractingtheir customers regarding IPhone brand in the large market place.
Different approaches to market research and methods of research Primary method:This is most reliable method of collecting information where responses are directly collected from respondents. The information which is gathered with the help of this method is original and unbiased in nature. To ascertain the views of B2B and B2C customers needed to send thequestionnairewhichallowsthemtoprovidetheirvaluableview regarding I Phone.
Contd.. Secondary method:This is another method of research which is used to collect the information in very short period of time from different sources like magazines, newspapers, articles etc. This information is not much reliable as compared to primary but this will help to ascertain the market trend and to bring changes in their offerings according to particular situation.
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Evaluation of how different factors influence decision-making and buying behavior The Apple sellers try to understand the activities and actions of consumers in the market place and the underlying motives for such actions. There are various factors which are directly affects on consumer behavior and decision making such as psychological, social, personal, cultural and economic. These factors are affecting while they are purchasing some product like Apple iPhone so they are analyzing all the features before buying this as per their budget, income level, behavior, response and attitude.
References •Dootson, P. and et. al., 2016. Where do consumers draw the line? Factors informingperceptionsandjustificationsofdeviantconsumer behaviour.Journal of MarketingManagement. 32(7-8). pp.750-776. •Heding, T., Knudtzen, C.F. and Bjerre, M., 2015.Brand management: Research, theory andpractice. Routledge. •Funk,D.,Alexandris,K.andMcDonald,H.,2016.Sportconsumer behaviour: Marketingstrategies. Routledge.