Consumer Behaviour and Insight

This report analyzes consumer behaviour and its impact on business decisions, focusing on Farmfoods Ltd. It examines the differences between B2B and B2C decision-making processes, the influence of personality, self-motivation, and perception, and the role of cultural and economic factors. The report also explores the impact of digital audience research development on consumer behaviour and how organizations can leverage this understanding to influence purchasing decisions.

CONSUMER BEHAVIOUR
AND INSIGHT
(PART-2)

Contents
INTRODUCTION...........................................................................................................................1
Difference between B2B and B2C decision making process......................................................1
Market research differs between B2B and B2C..........................................................................2
Personality, self motivation & customer perception influence the decision making..................2
Behaviour and cognitive approach to consumer learning............................................................3
Cultural and other relevant factor's impact on consumers behaviour..........................................3
Organisations use an understanding of buyer behaviour to influence the decision-making
process within both a B2C and B2B context...............................................................................4
Influence of digital audience research development on consumer behaviour.............................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Consumer behaviour may descried as the analysis of activity of consumers at the time of
purchasing the products and services. It hugely influences the sales figure and revenue of
company thus it is important to study the consumer behaviour and update the current strategies
and plans accordingly. Farmfoods Ltd. is taken under this assignment report which deals in
providing wide range of frozen products in UK and across worldwide. The report discusses the
forces that influences the decision making of customers along with the use of digital audience
research development so as to identify their actual perceptions towards offerings of an
organisation.
Difference between B2B and B2C decision making process
BASIS B2B B2C
DRIVERS In case of business to business
organisation customers are
searching for efficiency and
expertise. They are logically
driven customers. These
buyers purchase product for
some commercial reasons.
On the other hand in case of
business to consumers process,
customers are searching for
satisfaction and
entertainments. They are not a
logically buyers but they buy
products emotionally.
Reason to buy In case of B2B business,
supermarket has to prove itself
in front of business
organisation that why they buy
from FARMFOODS and not
from the other supermarket.
Here a lot of expertise are
needed.
In case of B2C business,
FARMFOODS are not
required to have much
expertise because they prefer
to buy snappy things with low
priced.
Time required In B2B business, time required
from making a contract till the
delivery of product is very
On the other hand in business
to consumer process there is
not much time required. It
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large. There is no concept of
immediate devilry and these
business require close
attention.
satisfy the immediate needs of
their customers.
Market research differs between B2B and B2C
B2C defined as the transactions made between the business organisation and consumers. It
includes the transactions occur when two businesses sells products and services from each
others. Market research in B2B and B2C are much different concept which are briefly described
as under:
B2B market research:
It is an activity of determining the insights of the market with the help of using various
techniques including survey and sample representation of participants. In B2B, firms buys goods
and services from other business with having motive of using for their own purposes. B2B
market research is more useful to conduct for the business organisations in order to identify the
current trends related with customers needs and preferences, acquisition cost of customers etc.
Thus, it will be more helpful for FARMFOODS to identify the actual needs and requirements of
their targeted customers along with the strategies of their rivals in the market. It enable
management to update their pre-determined plans and policies in order to bring their company
ahead than their competitors (Difference Between B2B and B2C, 2019).
.
B2C market research:
Such kind of research is conducted by an organisation in order to determine the actual
preferences and expectations of customers towards their offerings. Under such research, several
questions has been asked from the users or customers about the offerings of company. It
facilitate FARMFOODS to make regular changes in their offerings according to the needs and
requirements of customers which in results increasing customer base and profitability.
Personality, self motivation & customer perception influence the decision making
There is a huge impact of self motivation, Perception and personality on decision making
process and that are-:
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 Personality: individual's personality plays an important role on decision making, it is
their personality which decides to take decision either emotionally or rationally.
Organisation is required to identify the customer's need first before offering them the
products. There are three factors which help an individual in deciding to buy something
is head which work logically, heart which work emotionally and guts which work
without thinking anything (Japee, 2015).
 Perception: It is about the psychological concept of the person. Every individual have
their different perception about same things, they act differently on same situations so it
is their mindset which impact the decisions taken. For example if perception of one
person is that branded products are best but on the other hand mindset of other person is
that local products are much better.
 Self motivation: It is when person get motivated by their own work. When a person is
appreciated by doing some work it increases their morale and motivate them to give their
performance again.
Behaviour and cognitive approach to consumer learning
It is the concept of giving knowledge to consumers about the products of organisation.
Term consumer learning is providing more information.
 Behavioural approach- This approach is based on behaviourism of a person. This theory
says that behaviours can be learned. It have two parts i.e. classical conditioning and
instrumental conditioning. Later says that performance is based on trial and error method
on the other hand former says that in decision making different stimuli are interrelated
which impact the consumer behaviour (Shankar and et. al., 2016).
 Cognitive approach: This is a learning process which is very much complex. According
to this approach individuals are exposed to the product information so that they can know
about it.
Cultural and other relevant factor's impact on consumers behaviour
 Cultural factor: This factor is related to the consumer's, taste , preferences, their belief,
values and behaviours. It focuses on how these factors affect the customer's behaviour of
purchasing any product. There is different culture adopted by different people so they act
differently in some situations. For example some people does not eat non veg because it
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is out of their culture and they want to save animals but there are some people who love
to eat non veg and they do not care how much animals are getting hurt.
 Economic factor: This is related to the economy of the country which affect the
purchasing behaviour of a person. It also include person's saving, assets etc. for example
if inflation rate of country is high then person has to reduce its expenses and start saving
(Xiang, Magnini and Fesenmaier, 2015).
Organisations use an understanding of buyer behaviour to influence the decision-making process
within both a B2C and B2B context
The purchasing power of both business and customers are same which make huge impact
on their decision making process. An organisation if wants to increase its sales and revenue then
it must required to determine the buying behaviour of its customers which can be possible
through following ways:
Purchasing process of consumers: The buying behaviour of consumers influences when
new and innovative products and services are offered by different business organisations. As the
customers looking to purchase value in exchanges of their money thus it is important for Farm
foods to keep focus on their current offerings and update them on regular time period so as to
retain their loyal customers for longer period of time.
Product specifications analysis for target business owners: Every business organisations
has their own procedure for buying products and they remain stick on it. For example, price of
product, benefits of products etc, Thus, their buying behaviour is much depend on the product
specifications as they demand more from company in exchange of their money. Therefore, Farm
foods should identify their actual requirements and make transactions accordingly (Christopher,
Payne and Ballantyne, 2013).
Influence of digital audience research development on consumer behaviour
It is important for the organisation to analyse the importance of digital audience on their
business. Company needs to take decisions regarding to this so that it can influence the
customer's behaviour regarding their products. For doing this Farm foods has to do R&D for
properly understanding the consumer's behaviours.
 Social media: This is a digital technique that firms uses to influence the behaviour of
customers by targeting them anytime and anywhere without moving. These media is used
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by organisations for taking review and feedback from the customers and sometime
surveys are also conducted through it.
 Website of company: This is the company's website in which every information
regarding the organisation is given. It help them in attracting customers toward the
organisation. It is important for the FARMFOODS to make their website more attractive
and catchy with full of information so that it can target their customers.
CONCLUSION
From the above project report it has been summarised that the main motive of business
organisations is to generate huge revenues through increasing its sales figure. For this, they uses
various platforms such as social media, official website etc. through which they can update their
loyal customers regarding their new changes in their current offerings. B2C and B2C marketing
approaches plays a significant role in assisting organisation to identify the actual needs and
preferences of their customers which makes easy to meet their requirements in satisfied manner.
Thus, mostly every organisation conduct these research to make ensure about their long term
sustainability.
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REFERENCES
Books and Journals
Christopher, M., Payne, A. and Ballantyne, D., 2013. Relationship marketing. Routledge.
Gargiulo, C., Natale, A. and Russo, L., 2015, October. Smart community for the smart
governance of the urban environment. In 2015 IEEE First International Smart Cities
Conference (ISC2) (pp. 1-6). IEEE
Japee, G. P., 2015. New Ways of Reaching Out to End Users: Retailing. diploma. de.
Lilien, G.L., 2016. The B2B knowledge gap. International Journal of Research in Marketing.
33(3). pp.543-556.
Shankar and et. al., 2016. Mobile shopper marketing: Key issues, current insights, and future
research avenues. Journal of Interactive Marketing.34. pp.37-48.
Xiang, Z., Magnini, V.P. and Fesenmaier, D.R., 2015. Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal
of Retailing and Consumer Services.22. pp.244-249.
Xiang, Z., Magnini, V.P. and Fesenmaier, D.R., 2015. Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal
of Retailing and Consumer Services.22. pp.244-249.
Online:
Difference Between B2B and B2C. 2019. [Online]. Available
through :<https://keydifferences.com/difference-between-b2b-and-b2c.html>.
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