Consumer Behaviour and Insight Assignment Solution

   

Added on  2020-10-05

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Consumer Behaviour and Insight
Consumer Behaviour and Insight Assignment Solution_1
INTRODUCTION................................................................................................................................3LO1.......................................................................................................................................................3Models of consumer decision-making..............................................................................................4Mapping out the decision-making process for a particular product or service of your choice........4Factors that influence decision-making............................................................................................6LO2.......................................................................................................................................................7Comparison and Contracts key divergence among B2B and B2C decision-making process .........7Market research differs between B2B and B2C...............................................................................8Behavioural and cognitive approaches to consumer learning..........................................................9Culture and other relevant factors impact on consumer behaviour................................................10Evaluation of utilization of digital audience research developments in order to understand and influence consumer behaviour .......................................................................................................11CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................14
Consumer Behaviour and Insight Assignment Solution_2
INTRODUCTIONConsumers are termed as those individuals who purchase products and services for personalutilization rather than to sell (Bereznoy, 2019). A consumer makes decision in relation to make apurchase from a store or not. Attractive advertisements and marketing techniques acts as one of thekey essential element with the help of which customers can be easily influenced. Consumerbehaviour states as a branch of scrutiny that include different kinds of stages and are mainly relatedwith purchasing of goods and services. Present report has been based on Unicorn Grocery, locatedin United Kingdom. Company is founded in the year 1996 and headquartered in England. In thisreport, formative discussions have been made on different types of stages that are linked withdecision-making of consumer along with their importance and differences within B2C and B2B.Lastly, this report covers marketer’s impact on decision-making.LO1Introduction of taskConsumer decision making is an element that acts as an one of the most important segment for organisation. For this it is required by company to effectively undertake factors that will help them to influence decision making process of their customers in a best effective way. Consumer decision-making Consumer decision-making is termed as a procedures which are mainly considered by an individual as to formulate best effective decision in order to formulate suitable and relevant decisionrelating to a product and service for the purpose of personal consumption. It is mainly depend on the perception and wants of different set of customers (Bereznoy, 2019). Decision making is important for a customer as with the help of this proper decision can be formulated in order to makea purchase of a product by making a comparison from evaluating various options that is available ina marketplace.
Consumer Behaviour and Insight Assignment Solution_3
Models of consumer decision-makingConsumer decision-making acts as a one of the most important process for customers. Inrelation to this, there are numerous models which effectively define a basis with the help of whichindividuals take decisions in relation to purchase. Mentioned below are some models defined in adescriptive manner:Economic Model: Economic Model states that a customer is basically a rational being and makes decisions in arational manner. These assumptions mainly formed according to consumer's general behaviourcharacteristics, in which proper evaluation and analysation of benefits are done relating to a productto make a purchase. Economic model is unrealistic as individuals have skills in a limited form thatlead towards restraining an individual to being rational in the process of framing decision-making. Cognitive ModelIt is termed as one of the best effective model regarding to this process as it lead towardsdefining decision-making procedure as per according to the actual wants of customers. It reflectsthat activities related to promotional that are undertaken by a company cannot influence mindset ofconsumers within this model. Passive Model: Passive Model reflects that decision-making process of a customer can be effectivelyinfluenced with the help of promotional activities that are utilize by an organisation. Buyingdecision of an individual mainly based upon advertisements and offer that has been offeredcompany's marketing department. It is also said that a customer decision can mainly be influencedby promotional activities offered by an organisation.Emotional Model: Emotional Model of decision-making mainly formulates on a basis of a person's emotional perspectives towards any services or a product. It mainly defines the process of decision-making as per according to customer spontaneous reaction that not let them think usefulness of purchase. Mapping out the decision-making process for a particular product or service of your choiceDecision making process is termed as a formative process with the help of which individualsmake decisions related to buy a good and a service. Mention below there are steps included in the process of decision making: Need/ Problem recognition: The process of decision making revolves around the factor ofissues and need within a consumer mind. Information search: In order to buy a product consumer take advantage of numerouscommercial sources and personal informations in order to make effective investigation on product
Consumer Behaviour and Insight Assignment Solution_4

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