Consumer Behaviour and Insight Solved Assignment
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Added on 2021-02-21
Consumer Behaviour and Insight Solved Assignment
Added on 2021-02-21
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Consumer Behaviourand Insight
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Phase are related to consumer decision making journey.......................................................1P2. Importance for marketers for mapping path .........................................................................3TASK 2............................................................................................................................................4P3. Key differences of decision making for B2C and B2B.........................................................4P4. Various Approaches of market research with methods of research that are used forunderstanding decision making procedures for both B2C and B2B............................................5TASK 3............................................................................................................................................6P5. Marketers influences stages of decision making process for B2C and B2B.........................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONConsumer insights and behaviour is related with every businesses that helps tounderstand the how people thinks and feels. An organization should understand the current trendand need to to update accordingly. In other words, understanding the customers and their needsis essential that ensure future opportunities for business (Aboelmaged and Gebba, 2013). Todevelop the knowledge about consumer behaviour and insight Jaguar has been chosen that wasestablished in 1935. This is a British multinational manufacturer of cars. Such organization ismuch aware about customer needs and introduce products accordingly. The manager of businessorganization analysis the needs and wants and introduce new products in order to attracts people.Such organization is launching new product that is Jaguar XE. Different concepts are covered inthis report such as ability to map a path to purchase, stages of consumer decision makingjourney, compare and contrast between decision making process in the context of B2C and B2B.In addition, decision making process of B2B and B2C by influencing marketers are covered inreport. TASK 1P1. Phase are related to consumer decision making journeyAn organization conduct consumer insight research in which managers communicatewith customers which helps to improve the effectiveness of company. Consumer behaviour isrelated with process and procedure which is used by person through purchasing anything.Consumer does not buys products directly as they research the market gather information andcollect the information for particular products which helps to make right buying decision.Understanding the consumer behaviour is important as it satisfy demand and wants of people andmaximize organizational profitability (Carlucci and et. al., 2015). Jaguar is multinationalcompany that manufacture cars which attracts customers. It also manufacture sports car withbetter quality and density that provide satisfaction to customers. Jaguar decides to launch Jaguar XE that is different sport car by targetting sports playingpeople and adult age. Such organization can capture high market share and satisfaction if getsmaximum supports from its targeted customers. Customers get attracts towards product ifquality, price and features are according to customers. The are different element or steps which isused to make consumer buying decision:
Problem recognition: The buying behaviour of customers is highly depend onidentification of needs and wants of people. Without knowing needs of people an organizationshould not manufacture products that only increases cost of organization. A customer getsuccessful if it introduced products is according to customer demand. Such as Jaguar has realizedthat some people wants new sports car with new features and reasonable prices (Consumerbuying decision process. 2019.). Information search: Various efforts should be done by customer in order to searchinformation about new product which is going to launch by organization. This is next step,perform by customer for collecting information by visiting different websites about similarproduct and make comparison with new product's price, quality and features. Such as customersvisited Jaguar websites and social media for the purpose of collecting information about JaguarXE and comparing with similar products that helps to make right decisions (Dolan and et. al.,2012). Evaluation of alternatives: Evaluation of all alternatives should be done by consumersthat helps to make decision about buying new products. As there are many alternatives areavailable in market so customer evaluates all alternatives carefully in case of not buying newproducts. Such as the price, and quality of Jaguar XE is high than other sports cars which helpsto make easy decision.Selection and trial: This is next step of consumer decision making journey in whichcustomers selects products on the basis of specification and trial basis. Such as some targetedcustomers get trial of Jaguar XE and select products by using this. This is the best way to selectthe new product which can provide satisfaction to customers after knowing quality, attractivefeatures,price level and suitability of product (Fastoso and et. al., 2012). Purchase decision: The decision about purchasing new product is made by customers inthis step that satisfy the customers. It consider two factors like negative feedback from othercustomers and level of motivation that attracts customers to make buying decisions. Such ascustomer make decision to buy Jaguar XE on the basis of knowing good feedback from previousconsumers. Post purchase: This element greatly affects the decision process that gives goodfeedback to company. This process is helpful for organization as it can capture more marketshare by increasing number of buyers. Customers get some other facilities after purchasing
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