Consumer Behavior and Insights Assignment

Added on - 21 Feb 2021

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CONSUMER BEHAVIOUR AND INSIGHT
Table of ContentsINTRODUCTION...........................................................................................................................1Section 1...........................................................................................................................................11)Five different steps of buyer decision making procedure and factors that effect....................1Process.........................................................................................................................................12)Black box model of an buyer behavior and effect of its in marketing decisions.....................23) Map of buyer decision making procedure of services.............................................................4Section 2...........................................................................................................................................54) Similarities and differences of decision making process of B2B and B2C............................55) market research method which could be applied to B2B and B2C........................................66) Market research influence the stages of consumer decision making.......................................7Section 3...........................................................................................................................................87) Factors influencing decision making process..........................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONConsumer behaviour is study of an groups,individual or firm and all activities that associatedwith buy, disposal and use of services, include the buyers emotional, behaviour responses andmental that follow the activities. B2B is an situation where the one business do tranction with theother business.. B2C (business to customer) is process of selling the products and its servicesdirectly to an consumer.This report is based on business activities of Aldi, It is an American based mediacompany that provide that provide its service and production and have headquarter in California.This report highlights the five different steps of buyer decision making and analyse anfactor that effect the procedure. It shows the black box of model for an buyer behaviour and alsomap buyer's decision making procedure for an service(Hofacker, Malthouse and Sultan, 2016).Furthermore, Report also reveals the difference & similarity between B2B and B2C indecision making procedure and various market research method that can apply in business.Lastly it shows the Two factors which effect an decision making procedure.Section 11)Five different steps of buyer decision making procedure and factors that effectProcess.Problem recognitionIt is the first step to identify the most essential stage to find the buyer decision process.Without identifying the desire of the consumer it is not possible to buy the things and if customerfeel that something missing and wants than the consumer go back to buy for his desire. If Aldiorganisation find out the needs of the customer like consumer expectation better service fromthe company that satisfy the consumer desire. For example if the company provide the goodmedia services, that satisfy the consumer than the customer again use the same services, as itsatisfy the desire and convenient(Sasmita and Mohd Suki, 2015).Search processAfter recognition the needs of the consumer, the customer seek for an more informationand try to identify the services that satisfy the needs of the customer in more better way. Like
customer try to identify more information regarding the Aldi and various services provided bythe company that satisfy buyer in more better way.Alternative evolutionIt this stage after getting the information of Aldi company and its services. The customerwant to identify the more alternative services provided by the company. So that by gatheringdifferent form of information by using the various source to evaluate different alternative and itsattractiveness(Kim and Lee, 2015). Generally consumer evaluate on the basis of important, brandsatisfaction etc.Purchase decisionAfter finding out the different alternative of an goods and its services, customer go for thepurchase decision or use the best services provided by the company , But many a time consumerdecision is affected by the other's situational factors. Like negative feedback from other buyer.Post purchase of evaluationIt is the final stage where the consumer make its decision on the basis of the after purchase andits satisfaction and evaluate the services on the basis of this, whether go for the same services forfurther or not(Strassheim, Jung and Korinek, 2015).2)Black box model of an buyer behavior and effect of its in marketing decisionsBlack box model is the marketing theory customer purchasing behaviour \Factors influence decision making process-Cultural factorsIt plays an vital role in effecting the consumer behaviour as the culture is highly believeby the human that include society, behaviour and role play by society that value the buyer &tradition. So Aldi company need to identify the culture of the customers, as it effect the customerbehaviour. Thus, cultural factors classified into categories as are-Culture- It is an behaviour an value that member learns from society and family and dromthe institution. As it is deeply fixed in the mind of the person and therefore culture isbasic cause of an people behavior and wants. On the basis of this marketing adjust itsvariations to prevent from culture bluenders(Mylan, 2015)(Hoban and Bucklin, 2015).
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