Consumer Behaviour and Insight

This report provides a comprehensive analysis of consumer behaviour and decision-making processes, covering the stages involved, the significance for marketers, and the differences between B2C and B2B markets. It explores various market research approaches and methods used to understand consumer choices, highlighting the influence of marketers on different stages of the decision-making journey. The report concludes with insights on how marketers can effectively leverage this understanding to enhance brand value and achieve business objectives.

Consumer Behaviour
and Insight

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Stages of consumer decision making journey........................................................................1
P2 Understand the consumer decision making and its significance for marketers.....................3
TASK 2............................................................................................................................................4
P3 Differences in the decision making process of B2C and B2B...............................................4
P4 Various approaches and methods of market research used for understand decision making
process.........................................................................................................................................7
TASK 3............................................................................................................................................9
P5 Influences of marketers on various stages of decision making process of B2B and B2C ....9
CONCLUSION ...........................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
There are various kind of processes regarding the decision making which can be
understood by the consumer and thus through this knowledge can be enhanced. There is the
evaluation of substitutes along with the needs of recognisation form the research and the
purchase of various kind of products and services which are being manufactured. In order to
have factor of growth within the market and thus reach to its sales, it is highly essential for the
company to understand the attitude and behaviour (Arts, Frambach and Bijmolt, 2011). There are
number of factors which can impact upon the process of decision making. There are various kind
of stages which are mainly involved within process of purchasing and thus determine every kind
of stage to purchase products. Company chosen is Thomas Food Centre which is small retailer of
various type of food products. There are various kind of stages in which the process of decision
making process and influence of marketer of every kind of stage within this report.
TASK 1
P1 Stages of consumer decision making journey
Consumer behaviour can be stated as process where there are many of the processes
which a consumer undergo through and thus then they make the purchases and thus it mainly
involves many kind of factors which in turn can put up the influence upon the decision made and
the way they are mainly utilised (Consumer decision making process. 2017). There are mainly
five steps which are being involved within the process of consumer decision making process .
Those steps are mainly need of recognisance, search of the data, evolutional alternations,
purchase and the post behaviour. There are steps which are the guide for marketers for
understanding and thus communicating with customers by the help of effective funnel. There is
one thing that the consumers which does not move within the exact order within the process.
Along with that, this can mainly depend upon the product type along with having buying stage
consumer along with having financial status. Below described are the five kind of stages which
are mainly described below: Need recognition: This can be stated as very first step which is being taken and also it
plays crucial role in the process of decision making process of the consumer. It is highly
essential to have recognisation of the need for which it is mainly being taken. There is the
factor which is called need and thus it mainly result in actual purchase for the certain kind
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of product and services (Belch and et. al., 2014). There are various kind of wants and
needs which in turn can be analysed by the guidance given by the consumer and thus it
can mainly support the marketers which in turn can help out in taking various kind of
decision which are highly related to the business process and its operations which are
conducted. In the case of Thomas food and its product, there is analysation which is
being done by an individual for determining the needs and wants which they would prefer
to eat at what time. Product given should be of high quality and along with this, it mainly
should be tasty, healthy and bling of spice as well. Search and collect information: This can be stated as second step after the recognisation
of the needs. In this kind of step, main role is being played for collecting the crucial data
and thus mainly analyse and evaluate the data which is being collected. There are mainly
various kind of alternatives which are present to the customers and the mindset of the
client is that every information should be grabbed so that better level of decision can be
made before spending up the money (Bianchi and Andrews, 2012). There are mainly two
kind of aspects and that are positive and negative impact which can be made and
examined while making the purchase. In this kind of food product, there are many of the
consumers who search for the data regarding many of the food items along with choices
which in turn can be made for maximum level of satisfaction which can be made. Evaluation of alternatives: There are numerous kind of sources who are mainly
identified and thus consumer can mainly satisfy the need and can help in examining the
various kind of options which is the basis of quantity, price along with the quality and
product features as well. Mainly the prices are being compared to the substitute product
before finally purchasing the product which can also be done by many of the consumer in
this kind of stage (Biswas and Roy, 2015). Example can be taken up of an individual who
in turn can mainly help out in finding out the tasty food product which in turn can mainly
satisfy the needs and wants and then multiple kind of food items can be examined which
are mainly present to make the comparison. Actual purchase of products: In this kind of stage, decision is being made by the
consumer regarding what to purchase and what not to. This all is being examined and
determined by all kind of data in order to purchase the specific kind of product for
bringing out maximum level of satisfaction for the desires. After this, all kind of food
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items which will be examined and thus an individual will mainly finalise the food product
which he\she will mainly will purchase as per the budget and this is correct for the need
satisfaction.
 Post purchase evaluation: This can be stated as the last step which helps out in making
the process of decision making process. In this kind of procedure, there will be the
examination of usefulness for the purchase of product and thus high level of satisfaction
can be delivered from the specific good (Brodie and et. al., 2013). There are various kind
of product which are mainly purchased with motive of meeting up the expected level and
thus become loyal for certain product.
P2 Understand the consumer decision making and its significance for marketers
There is the high need of conducting the behaviour of the consumer which is very
essential for a marketer. Along with this, it is highly beneficial for the marketer which in turn can
understood regarding the purchasing power of consumers along with having products which are
disposed along with the services of an individual or in group. Moreover, this in turn will mainly
provide the support and thus it cam mainly determine the multipole consumers who mainly share
up the opinions along with having experience for mainly satisfying the wants and needs in better
and effectual manner (Bruwer, Saliba and Miller, 2011). This in turn will mainly provide the
support marketers for analysing and studying with the motive of having better knowledge and
understanding the various kind of ways where the consumer will have the behavioural factor and
within the market, there will be the position of company by the products for the target market or
the specific group of people. This will mainly help out in attaining the objectives in better and
effectual manner.
From the aspect of a marketer, there is the major motive which is making the aim of
promoting and marketing for the goods which in turn can mainly improve the sales ratio and thus
it will help in generating the high number of profits. There is the major principle and that is of
generating the revenue along with having major kind of profits. Marketers mainly apply the
level of process which in turn help in generating the revenue. However, in modern scenario there
is high awareness among the customers which can have the data about the product and its usages
and it will be not be much more easier to influence an individual for buying the product of the
company (Carrington, Neville and Whitwell, 2014). Now-er days, it is being needed for carrying
out the detailed study along with the research for selling out the product or the service within the
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marketplace and thus mainly provide the motivation to an individual for purchasing the product
in better and effectual manner.
Therefore, it is very essential for understanding the process of decision making regarding the
consumer for the marketers and thus this can be mainly be understood by the factors which are
being described below:
 For acknowledging the buying behaviour of the consumers.
 For determining and putting evaluation within number of factors which in turn can
mainly put an impact upon the buying behaviour of the consumer.
 Adoption of latest technology which can be like online stores which in turn can help out
in attracting and retaining the customers in effectual way.
 There should be acknowledgement and better level of understanding regarding the
decision making process of consumer for disposing the product and services.
 Enhancing and bringing improvisation within the knowledge of person so that there can
be influence in purchasing the product (Erevelles, Fukawa and Swayne, 2016).
 There should be support within the marketer for mainly improving the product sale along
with the formulation of effective strategies of marketing.
Above mentioned report has some of the major factors which in turn can mainly state the
understanding up of consumer decision making process which in turn is very essential for the
marketers. Manufacturing up of products and services is being done with the motive of bringing
maximum level of satisfaction for certain needs and desires, so it becomes highly essential for
the market to be the same and thus can help out in attaining the objectives and aims in better and
effectual manner (Gangale, Mengolini and Onyeji, 2013). There are various kind of factors
which has the potential of making impact upon the purchasing power and decisions of a
customer and thus for that there will be the study of consumer behaviour which in turn can make
impact upon study of consumer behaviour. Hence, for attaining the set sales target, it is highly
essential to bring out the maximum level of satisfaction for the needs of consumers and thus
retaining it for long period of time. Along with this, it is necessary to understand to make the
decision process much more effective and efficient for the marketers.
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TASK 2
P3 Differences in the decision making process of B2C and B2B
B2B: Business to business, likewise called B to B or B2B, is a type of exchange between
organizations, for example, one including a maker and distributor, or a production and a retailer.
Business to business alludes to business that is directed between organizations, as opposed to
between an organization and individual shoppers (Gössling and et. al., 2012). Business to
business remains as opposed to business to purchaser (B2C) and business to government (B2G)
exchanges. In simple words, this can be stated as one of the effective commercial transaction in
which there will be purchase and sales of goods which mainly will take place among the two
kind of businesses. Example can be taken up of a company which helps in supplying the goods to
the another kind of production house.
B2C: Business to shopper (B2C) alludes to the exchanges led straightforwardly between
an organization and customers who are the end-clients of its items or administrations. The
business to buyer as a plan of action varies fundamentally from the business-to-plan of action,
which alludes to trade between at least two businesses (Gunter and Furnham, 2014). Under this
business venture pitch its items and administrations to definite customer. Endeavours whose
items are expended straightforwardly by end client is known as B2C firms. There are various
kind of factors which are indulged within this process and thus this can give exposure to the
uncovered areas as well.
There are many of the essential factors among the B2B and B2C which are mainly described
below:
Basis B2B B2C
Meaning There are various kinds of
goods and services which are
being sold by business to
another business. This kind of
business does not mainly
involves the customers
(Hargreaves, 2011).
There are numerous kind of
services and goods which are
being sold by the company
directly to its customers. This
kind of procedure does not
involve any kind of business to
business transactions.
Customer There are business entities. There are consumers who are
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involved.
Main focus Major focus is upon the
remaining upon building and
thus maintaining the
relationship.
This kind of procedure has
major focus upon the selling
the final kind of product
directly to the customers.
Quantity of merchandise Can be large Can be small
Relationship Supplier are related to the
manufacturers. Manufacturers
are related to the whole sellers
and they are related to the
retailers.
In this kind of factor, there is
the direct relation of the
retailer and consumers and
thus there are no middles ones
who share the relation or the
profits (Moutinho and Vargas-
Sanchez, 2018).
Relationship horizon Long Term Short Term
Buying decision In this kind of factor, there are
many of the times where
buying decision which in turn
can remain planned and based
upon the needs and wants.
Buying decisions are being
made upon the buying
behaviour as per the desires
and wants.
Creation of brand value There are various kind of
reasons which are present for
creating the mutual and trust
relationships for brand value.
Brand value is being created
by the help of various kind of
promotional activities along
with the advertisement.
Selling cycle Selling cycle of the B2B
procedure is lengthy in nature.
Selling cycle of the B2C
procedure is short in nature.
There are various kind of major differences among the B2C and B2B markets. These kind of
differences can mainly be understood by the following kind of points:
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 There is the volume of products which are being majorly sold by the B2B market which
is very large in nature while the B2C market deals in small kind of quantities within the
marketplace (Oliver, 2014).
 Value of the brand is being mainly created within B2B market and on this kind of basis
of the personal relationship along with trust which can be created upon the business
companies. Apart from this, there is the promotion along with advertising which in turn
can be utilised for creating the brand value.
 There are number of relationships within B2B Business which in turn can mainly last for
long period of time and thus on the other hand, relationship between the buyer and seller
within B2C can mainly remain for short period of time.
 B2B has long and lengthy selling cycle when it is mainly compared to the buying cycle of
B2C.
 In B2B the final customers are the one who are mainly linked with the business
enterprises while final customers in B2C are the one to whom the products are mainly
sold (Schmitt, 2011).
 Planning is being mainly done for the process of decision making process within B2B
and in B2C decision making process is much more effectual as this is being done on
emotional terms.
P4 Various approaches and methods of market research used for understand decision making
process
There is difference in thought process of company and consumer. To make increment in sales
and bring efficiency in objectives of organisation, it is essential to know what has to be done and
how this can be implemented in better and effective way. Consumer is most important
component which are responsible for growth of business. It is essential to maker policies which
can be analysed and hence use of policies (Schütte and Ciarlante, 2016). In case of alteration in
demand of consumer, they have to alter policies through which they can achieve targets in better
and effective way. It is responsibility of research and development department of come with
innovative ideas through which they can analyse demand and hence services this is effective for
performing activities in better way.
Market research is one of the best approach which helps manager to know what can be
improved in current products through which they achieve pre determined targets and make good
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image in market. There are many competitors in food sectors so renovation in criteria must be
conducted. There are main use of factors which ash to be performed in better and impressive way
(Solomon, Russell-Bennett and Previte, 2012). This helps to know what can be effectively used
to satisfy need off consumer. Scope of research and development department is increasing
because of there is fluctuation in demand so they helps to know what can be effective to
approach changes in market. There are use of basic knowledge which helps to make changes in
plans and policies. This can be effectively used as per requirement. This file has possibility of
alterations in factors which can be specific for certain group of consumers.
Through market research manager came to know what has to be produced, so it helps to
satisfy need of consumer and hence there will not be dead stock. Mainly there are two research
methods-
PRIMARY RESEARCH- Information collected from this source is gathered by mangers
of Thomas Cook itself. There are some targeted people which work for knowing what changes
do consumer want. There are mainly changes which has to be done in effective and efficient
manner (Xiang, Magnini and Fesenmaier, 2015). There are less chances of inaccuracy but at the
same time this source is expensive and time consuming. There is difference in perception of
workers so it is essential to analyse market and select appropriate sample size with which they
can come with correct outcomes. There is use of views of number of people, through which they
can achieve targets in better way.
There are various ways which help company to know about thoughts and views of
workers. Questionnaire, surveys, interviews, case studies, Delphi method, direct observations,
etc. are related to this concept but there is difference in their aspects so this is effective to
approach changes in plans and policies.
SECONDARY RESEARCH- This method is less preferable as compared to primary
data. While using this research there is use of approaches which provide ready data related to
subject. It is essential to work and appeal company to work mas per as requirement. There are
possibilities that particular information is not relevant to current scenario and hence there is
misconduct in actions. Information from old data, internet information, content provided by
agencies, etc. are some sources of secondary data.
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In case of Thomas cook it is preferable to use primary data, as it provides appropriate and
up to date information. It is essential to know what can be done through which they can analyse
market and it helps to give positive outcomes.
While Thomas Cook wants to know views of B2B it is essential to know actual need of
ultimate consumer and this is helpful in making factors which help to perform activities in better
and effective way. There are many policies which can be effective to changes properly. Steps of
decision-making process are-
 Initially there must be collection of data which helps to analysing situation. This is
essential step because further steps are based ion this. It is important to know what can be
done and for what it targets. Techniques of data research is discussed above which helps
to know demand of retailer as well as ultimate customer.
 It is not essential that company will work on particular selected option, so there must be
alternate which helps to achieve targets.
 Through research there will be some factors which might differ, so it is essential to
analyse them and hence tries to know what can be done to improve position.
 In case of negative results, it is essential to switch to other option, this helps to know
what can be done and hence they can judge change in policies. This is the step where
actions must be taken after proper check, this helps to know what can be done make
factors available.
 After selection of best alternative its tome to take actions. This is the time where actions
are taken on the basis of research data.
 Lastly, after applying changes its time to take reviews from people. If outcome of
research work is positive then actions are done effectively to achieve goals and
objectives.
TASK 3
P5 Influences of marketers on various stages of decision making process of B2B and B2C
There is the process of decision making of the customers consists of five major steps
which are mainly similar to the steps and stages which are mainly involved within the process of
decision making of the B2B market (Zabkar and Hosta, 2013). There are various aspects which
can help out in giving out encouragement to the consumers and those are mainly conducted by
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the marketer for bringing improvement within the product of company and thus this mainly can
be understood by the points which are being described below:
 There are many kind of situation which in turn can help out for the marketers to mainly
take the opinion of the leaders before reaching to any kind of conclusion. Taking opinion
and suggestion might help out in making the process of decision making much more
effectual and result oriented.
 There are mainly various kind of communication tools which are being utilised for using
the company in with the motive of creating need of an individual along with then giving
out them motivation for purchasing the product of company.
 Mainly the research is being carried out by the marketer for mainly analysing the major
kind of factors which in turn can make impact upon the process of decision making and
thus give same kind of modification to another people so that they can have better results
as well (Zabkar and Hosta, 2013).
 There are mainly various kind of tools and techniques which in turn can be mainly be
adopted by the marketers along with having various kinds technical channels which ion
turn are mainly impacted by the decision making process for both B2C and B2B market.
In modern scenario, there are customers of which the demands and needs are changing on rapid
speed and due to that environment of the market is changing on rapid speed. Hence, due to that
maintaining the market share, attainment of set sales target is being done for studying with the
consumer decision making process which in turn is very much effective and efficient. Moreover,
this kind of process becomes highly essential specially for the marketers and they have the duty
of acknowledging and thus mainly understanding the each and every kind of step which in turn
helps out in designing the marketing mix in appropriate manner (Solomon, Russell-Bennett and
Previte, 2012). In overall nature, this kind of process is much more effective and the decision
making process which is very complex in nature and thus it is mainly affected in various kind of
factors. Those factors can be like external factors or the internal factors which in turn can mainly
be impacted. This all mainly starts with the recognisance of certain kind of needs and other
results which leads to the satisfaction or dissatisfaction for an individual. These kind of needs
and requirements are mainly accomplished as this is very necessary for the marketer for mainly
understanding the every kind of step of process and this can mainly lead to the research which
can be conducted which in turn can mainly affect the final choices for the customers.
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CONCLUSION
From the above given data, it can be inferred that in the present business condition, it is
exceptionally fundamental for advertiser to look at and comprehend the basic leadership
procedure of buyers. This help in pull in more individual towards organization's item and
increment its benefits. Different stages are include in basic leadership procedure of customer and
it is extremely fundamental for advertiser to think about each progression as this help advertiser
in better comprehend the purchasing conduct of shoppers. For this exploration can be complete
by advertiser to gather data about the main considerations that influence the basic leadership
procedure of people.
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