Consumer Behavior and Insight Sample Assignment

Added on - 21 Feb 2021

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Consumer Behaviourand Insight
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1.Explain and analyse the stages of the consumer decision making journey for a givenproduct/service.......................................................................................................................3P2.An explanation of why it is important for marketers to map a path to purchase andunderstand consumer decision making...................................................................................5TASK 2............................................................................................................................................7P3.Show a comparison and contrast of the key differences of the decision-making process inthe context of B2C and B2B, providing specific examples from both B2B and B2C...........7P4.Evaluate the different approaches to market research and methods of research used forunderstanding the decision-making process in both B2C and B2B contexts.........................8P5.Evaluate how marketers can influence the different stages of the decision-making processof B2C and B2B, giving specific examples..........................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONConsumer behaviour is the vital element for the business organisation as this study howthe individual , group or the associationprefer, purchase and usage the itemsand services tofulfil their necessarily and demand. Consumer behaviour alsomention to asactivity which anindividual client executes in the market. This assignment has been prepared to understand howthe potential consumer behaves towards the product. In this current report the chosen products isfrom automotive industry Ford that isMustang cars. This automotive industry is termed to be thewider industry that deals with the design , development and manufacturing of the cars. Thisproject will cover the study about thecognition and knowing of the clientsdecision-makingprocess, theirnecessarilyand expectation from appropriate research,assessmentabout the postacquireandpre acquiredecision. Apart from this the report also covers the concepts of the B2Band B2C business and the cause which influences the consumer behaviour. At last, this reportwill also render the essentialpath which are concerned in the process of judgement making.TASK 1P1.Explain and analyse the stages of the consumer decision making journey for a givenproduct/service.Before purchasing the products, it is very essential for the customers to first identify theneeds for which they undergo various consequences before buying the products. Consumer'sdecision-makingprocedureengages thecustom-made to determineexactly what are their needs,expectations so that they can make the decision to buy the products(Gangale, Mengolini andOnyeji, 2013). As the product which have been chosen in this respective assignment is the carsof the company Ford. For purchasing the cars of the company, the consumers will pass onthrough the diverse stages which have been mentioned below :Consumer decision making stages are as follows :Pre- Purchase :For devising a conclusion in respect the pre acquisition of thecommoditya consumer undergo several stages that are as mentioned below:Need recognition :Thisphase of the user conclusion making procedureis concernedwith the identification of the demand whether the commodity is needed or not. As needis considered to be the most essential element which drives or influences the customertowards the buying of the products. So for buying the product like Car the consumer will
see whether there is requirement of the car or not if the need is felt they will focus on thepurchasing of the products.Searching and Gathering information :After the identification of the need thecustomer will focus onto the second stage that is searching and gathering of thecontentdetail about the commodity.Before buying the car, the consumer willeffort toassembling as much dataas they can regarding all the positive and negative factors whichare attached to the purchasing of the car. For collecting the information, the consumermay use various sources like social media , feedbacks from the existing user of the carsetc. regarding the quality and services of the cars(Maity and Dass, 2014).Evaluating the alternative:This phase of the user conclusion making procedureisconferenced with the evaluation of the options. After identifying of the needs andgathering of the information the customer will now focus on the best of the options anddeals which are available to them in the marketplace for the purchase of the car. Here thecustomers will focus on the evaluation of the best option which offers them thereasonable price with excellent services and design.Purchase :This is the decision-making stage after the stage of identification of needs,searching, and evaluation of the alternative. Here the customer makes their mind to purchase theproduct. Here the customer will finally identify what they want to buy and from where they wantto buy so that their needs can be satisfied without incurring more expenditure. In this the actualpurchase decision is also made after analysing all the facts and aspects which the customers willcome through in the near future(Thøgersen, Jørgensen and Sandager, 2012).Receive: After purchasing the product that is mustang car the customers receive itand experiences the products quality and services and then further takes the decision.Post purchase evaluation:It is the the final stage which gives the conclusionwhetherthe Car which have been purchased by the customers has delivered them the value of their desireor not. This also states the condition they the customers will purchase the product again or notsoon.Thus, these are the stages which will help the customer in making their buying decision for thecar so that their need can be satisfied to the full.
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