Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 SECTION 1: Map to 'Path to Purchase'..........................................................................................3 1. Evaluate the five different stages of consumer's decision making process and also analyse the factors that influences the process.........................................................................................3 2. Evaluate the black box model of consumer behaviour and how it influences marketing decision.......................................................................................................................................4 3. Map out the consumer’s decision-making process for one product or service.......................5 Section 2: Research and Data in Consumer Behaviour..................................................................5 4. Compare the similarities and differences of the decision-making process.............................5 5. Evaluate the different market research methods that could be applied to a B2C and a B2B context.........................................................................................................................................7 6. Justify how market research can influence the stages of consumer/consumer's decision making process............................................................................................................................8 Section 3: Influence on the decision-making process.....................................................................8 7. Evaluate a minimum of 2 factors that influence the decision-making process.......................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
telecommunication companies. Here, customer will mainly focus on a positive and negative impact of using the services of Vodafone. Evaluatingthealternative:Inthisrespectivestage,itisnecessaryforthemto understand and find whether there is an alternate or not. Customers will try to evaluate the services of other organisation as well which are working in the similar form of market.It helps to raise the satisfaction level among them. Actual purchase of the product or services:It is the stage where customers are needed to purchase the services which they want for personal satisfaction (Reimann, and et. al., 2012). As customers are trying to avail the service of telecommunication which is done only after analysing all of the stages so that they can choose the service which will provide maximum benefit to them. Post purchase evaluation:This is the final stage where feedback is needed to be given by customers that whether the services which are being provided by Vodafone are helpful or not. If in any of the situation answer is no that what are the expectation of future expectation as that is needed to be mentioned. Theses are five different stages which are mainly considered by the customers whenever they purchase any of the product but it is also necessary to consider that there are some of the factors which influences the process and that has been explained below: Social Influences:It is one of the factors which can influence the customers at the time of buying any of the products or services. If company is not working as per the requirement current trends that it can influence the buyer to change their decision for availing the services of company which they were willing off. Cultural Influences:It is needed to be understand that sometime culture can affect decision making process of any of the consumers. It is one of the situation where person doesn't want to use the services of respective company just because of the decision which are being taken by them for personal benefit. 2. Evaluate the black box model of consumer behaviour and how it influences marketing decision In simple words, Black box model of consumer behaviour is a model which is used for the purpose of studying the buying behaviour of customers(Lim, 2016). It is mainly identify by the process in which it is assumed that what customers are assuming and how they respond to
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any of the situation. It is one of the process which directly helps to bring out the positive result. While talking about market, it can be easily said that it can changes the whole concept of marketing where there are higher chances that company like Vodafone might have to change their plans and policies. Black Box Model will help company to identify and determine that what is the current trend, believe,s perception of people towards any of the product which they uses. This will allow company to decided that whether the services which they are provide is relevant or not and if in any of the situation it is not relevant then changes can be done accordingly so that targets can be accomplished on time. 3. Map out the consumer’s decision-making process for one product or service. Whenever any of the customers want to avail the services of a company they always try to determine different factors which can help them out to take positive decision. For example: customers want to avail the services of Broadband & Landlines which are being provided by Vodafone then in that respective situation customer will prepare the map as a decision making process. The detail information about the map is listed below in different points. Firstly, they will try to find the company which is dealing in the market for providing the services of Broadband & Landlines(Cockayne, 2016). Secondly, it is necessary for customers to check the prices and performance of a company that whether those services can be helpful or not. Then, it will be important for customers to buy the services of Vodafone and use them as per there requirement. Finally, feedback is required to be given by the customers to the company that what are the changes that company must do. Section 2: Research and Data in Consumer Behaviour 4. Compare the similarities and differences of the decision-making process. B2B and B2C are mainly used by the business who perform their work at a greater platform for the purpose of selling their products and services in the market(Japee, 2015). In context of UK, Vodafone is the company which is uses both B2B andB2C for earning profit from market. It is said that both B2B & B2C are effective for the company because it helps them
to attain their goals within the specific time period. Below some of the differences between B2B and B2C has been explained in context of a Vodafone. BasisB2BB2C Buying decisionHere, it is the decision of other firm to purchase the services of Vodafonewheretheywill mainlyconsidersomeofthe areasuchasgoodwillof company, price which is being chargedandmanymore (Difference Between B2B and B2C,2019). It is quite less time consuming process for Vodafone because entire decision is required to be takenbythecustomersthat whether they will like to have the services of company or not. Decisionrelatedtothe Marketing strategy Inthis,Vodafonewillnot requireanyofthemarketing tool to promote their services and offer as deal is required to bedonebetweenbusinessto business where internal sales, personalcontactsplaysmore crucial role. Whenever any of the services requiredtobeprovidedthat marketing strategy is required to attract the customers and for that company has the option to take help of various marketing toolsandevensocialmedia marketing is one most trending form of doing marketing. Identifying requirementsFor the purpose of finding the requirement, it is necessary that companymustpreparethe strategy where requirement of business can be fulfilled. InB2C,companyhasthe optiontoidentifythatwhat customers want from them so thatrequirementcanbe fulfilled(Nagengast and et. al., 2014). Some of the Similarities in Business to Business and Business to customers are:
ď‚·It is necessary to understand for Vodafone that in both B2B and B2C they will required the goodwill which will allow business and customers to connect with the company. ď‚·In both B2B and B2C, it necessary for Vodafone that they must give appropriate services so that customers and business can avail the services from them. 5. Evaluate the different market research methods that could be applied to a B2C and a B2B context. In current scenario, it is necessary to understand that market research plays the crucial role as it is one of the way through which customers as well as business organisation can be connected. It is because company will be able to provide the services which their clients want from them. Below, there is the detail information that how company is required to do research for attaining goals or to trade in the market. Market research approach in B2B:Here, it will be important for Vodafone to focus on secondary sources to collect any of the information because data collecting process will be quite easy in it. It will be one of the time saving process for business organization (Dolan, and et. al., 2012). The different sources which can be used in it are: ď‚·Public records:As Vodafone is required to deal with other business organisation so it will be important for them to collect the past information so that it will be easy for them to take decisions at the time of doing trade. ď‚·Government and non government agencies: In this, Vodafone will have to do research on market considering off all the government and non government authority. This will allow the top level management to make a deal with other business organisation in a systematic manner. Market research approach in B2C:In this types of research the main area which is needed to be focused will be related with primary source of collecting the data(Fastoso, and et. al., 2012). It will allow Vodafone to collect all of the fact information which can be helpful at the time of taking decision. Some of the primary sources of collecting the data are: ď‚·Questionnaire:In this, the management of Vodafone will try to prepare different questionnaire where they will select certain number of respondent who will give answer of them. This will allow them to find that customers want from them.
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ď‚·Personal interviews:It is also one of the way which can be used by the company for the purpose of collecting the data. In this company will conduct interviews just to find that what customers are willing and how their requirement can be fulfilled. 6. Justify how market research can influence the stages of consumer/consumer's decision making process Market research can be very help in context of business organisation like Vodafone because they will be able to determine that what and how they are required to do. While talking about B2B, if company will be able to do proper research that at what prices other business organisation can avail the services which are providing and even what quality they requires in it. For example: Ford is giving the machinery parts to Jaguar Land Rover, then it is needed to understand that the management of Jaguar Land Rover need the product at a reasonable cost but they will even focus on quality of a product a well. In case of B2C, decision can be easily said that marketers will be the one who will influence the decision making process of customer because if Vodafone will be able to provide the services as per their choices with minimum charges then they will select this respective company. It will also allow to enhance the profit. For example: Cad-bury is one of the multinational company but they must try to take review of customers where they can provide the free sample in which they can give feedback(Xiang, Magnini and Fesenmaier, 2015). This will allow company to do improvement as per the requirement of customers for attaining goals. Section 3: Influence on the decision-making process 7. Evaluate a minimum of 2 factors that influence the decision-making process The two different factor which influences the decision making process are explained below: ď‚·Behavioural Theory:It is one of the theory which has a great impact upon the decision making process as well as buying behaviour of a customer. It simply helps that how customers are needed to react in any of the situation. It even includes the factor of conditioning in which company can find that how customers react to any of the situation which will all organisation to prepare their plans and policies accordingly. Even it is one
of the theory which helps business organisation to fix the problem which are connected with customers as well as market segments. ď‚·Culture:Here, it can be determined that marketers mainly focuses on the market and according to that they make their decision regarding the services which they want to provide (Lim, 2016). It is helpful for company like Vodafone because they give them the opportunity to influence the customers towards the company. CONCLUSION Itcan be understood that consumer behaviour is one of the important concept which allows company to perform better as it can easily help to determine that what customers and business expect from the customers. There are number of situation where working style within B2B and B2C differs due to which company have to plan differently for accomplishing their goals.To provide the services to costumers, it is necessary for business organisation to understand that they must carry on the market research as it is one of the helpful process for the company.