Consumer Decision-Making Journey
Added on 2021-02-21
11 Pages3889 Words122 Views
CONSUMER BEHAVIOUR AND INSIGHTS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse different stages of consumer decision-making journey for a specific service orproduct....................................................................................................................................1P2 Mention why it is necessary for marketers to map a purchase path and understanding aboutconsumer decision-making.....................................................................................................2M1 Identify how marketers responds towards decision making processes by using relevantmodels and concepts...............................................................................................................3D1 Critical evaluation of theories and models which influences decision-making procedures..4TASK 2 ...........................................................................................................................................4P3 Comparison of the differences in decision-making procedures of B2B and B2C along withspecific instances....................................................................................................................4P4 Analyse different approaches to market research and methods of research to understanddecision-making process in B2B and B2C.............................................................................5M2 Evaluate how various factors impacts buying behaviour and decision-making, along withparticular examples.................................................................................................................6TASK 3............................................................................................................................................7P5 Evaluate the manner in which marketers impacts various stages of decision-makingprocesses of B2C and B2B.....................................................................................................7M3 Critical evaluate how the marketers impact each stage of decision-making by referringrelevant model or method.......................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONConsumer behaviour is referred to the study of how individuals takes decisions about theservices or products which they wish to buy. Understanding consumer behaviour benefits abusiness firm in acknowledging the reaction of customers for a specific service and products(Bian and et. al., 2016). This assignment is carried out on the basis of Athenian Grocery which isa UK based grocery store offering daily use products to their customers. This store is situated inLondon, England. This report will include about stages of consumer decision making journey fora specific product or service. Importance of marketers to map a path to purchase is discussed.Differences in decision-making of B2B and B2C is discussed. Also, different approach to marketresearch is mentioned along with how marketers impact various stages of decision-makingprocesses in B2B and B2C is identified. TASK 1P1 Analyse different stages of consumer decision-making journey for a specific service orproduct.Decision-making is referred as a process to make choices about the purchase of a serviceor product. Athenian Grocery is a small grocery store in London, UK which specialises inoffering wide range of foods from Cyprus and Greece along with pomegranate molasses, masticchewing gums, olives, olive oil, vine leaves etc. Other than this, daily use grocery is alsoavailable at their store (Christopher and Senthilkumar, 2018). There are different products thatare available at Athenian Grocery but decision-making journey of customers will be identified bychoosing olive oil as their specific product. Elements associated with consumer decision makingjourney are mentioned beneath:Need/Problem recognition:This is the first stage of customer's decision-making journeyin which individuals or customers identify their requirements and needs. Buying behaviour ofcustomers depends on the fact that if they need a specific product or not. For example, customerswill buy olive oil from Athenian Grocery if they need that product either for food or massage.They are not going to buy olive oil just because other people are buying it. Information search:In this stage, consumers will perform different activities to gaininformation about the olive oil which is sold by Athenian Grocery. In this context, customers caninteract which those people which have used this product before or they can search about it via1
internet. For example, To assure themselves about the merits of the product, people can visitvarious sites where same product is sold by other brands. This will help the customers incomparing olive oil of concerned grocery with other brands. This will assists the customers totake right decision if they will buy the product or not. Evaluation of alternatives:It is the third stage where consumers properly evaluate thealternate choices of product available in market. Here decision-making is carried out on the basisof price, features and quality of product. If alternative products are cheaper and of good quality,customers prefers to purchase it. For instance, customers will buy alternative products if theywill find the quality of olive oil given by Athenian grocery is low (East and et. al., 2016). Selection and trial:Under this step, customers selects a sample of product and try if itsatisfy their needs or not. To assure themselves that they are purchasing right product, peoplebuy a product for trial basis and their experience during the trial benefits them in deciding ifthey wants to purchase that specific product or not. Purchase decision: In this level, consumers makes the final decision if they are going tobuy a specific product or not. This purchase decision is made after measuring the satisfactiongained by specific product. For instance, after assuring about the price, quantity, quality of oliveoil available at Athenian Grocery, customers will buy product. If they have any complaint withthe product, they will not buy it. Post-purchase evaluation: It is the last stage where consumers evaluate the experienceafter purchasing a service or product. These evaluations will help people in giving right feedbackto Athenian Grocery about the olive oil which is provided by them. It will help the manager inAthenian Grocery to carry out modifications either in price or quantity of olive oil as per theexpectations of customers. P2 Mention why it is necessary for marketers to map a purchase path and understanding aboutconsumer decision-makingMapping a purchase path is a journey that is carried out by a customer while taking abuying decision. Purchasing path includes different stages that begins from the research of aspecific product and ends with the buying of that product. For instance,Customers are needed to prepare a map when they plan to purchase a product either that products is a mobile, oil, watch orany other material (Gargiulo, Natale and Russo, 2015). This map involves some factors such asneed of a specific product, evaluation of first and second alternatives or other aspects linked with2
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