Consumer Behaviour and Insight

Consumer
Behaviour and Insight

TABLE OF CONTENTS
LO1..................................................................................................................................................3
P1 Analysis of stages of consumer decision making journey......................................................3
P2 Importance for marketer to understand consumer decision making process.........................4
LO2..................................................................................................................................................5
P3 Contrasting and Comparing the Key Differences Between the Decision Making Operations
of B2B and B2C Business Organisations....................................................................................5
P4 Different Approaches and Methods of Conducting Market Research...................................7
LO 3.................................................................................................................................................9
P5 Analysing How Marketers CanInfluence Different Stages of Decision Making Process......9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

LO1
P1 Analysis of stages of consumer decision making journey
Consumer decision making is a complex process because it included various steps that
are performed by individual to select best possible alternative from range of option in order to
get maximum value. Preference and taste of customers or people keeps on changing due to
various factors so firm needs to effective identified recent trends and innovation to meets
customers requirements (Ciriolo, 2016). There are several stages that are used by consumer
while taking decision to make purchased of specific products and services of verdant leisure can
be illustrated as follows:
Problem recognition: The first stage of consumer decision making is unsatisfied needs or
wants of individual which motivates to search various alternative options that are available for
satisfaction of customer’s requirements. Most of the people are feeling that there are not able to
have fun and enjoyment or busy with their personal life so it have increased demand in tourism
and hospitality industry. People want a place where they can spend their leisure time, having fun
and entertainment for relaxation and reduce their mental stress. Therefore verdant leisure
manager by identified key problem have planned to provide best services to customers to live
and have fun.
Search process: After completion of first stage consumer moves to second stage in which it
search various alternative option or different destination, hotels can satisfy its requirements. Due
to digitalisation and innovation in technologies most of the customer makes use of search engine
to gather various information to take correct decision for selecting specific products and services
(Shim and Taylor, 2019). Verdant leisure has provide various detail of facilities, prices and
services that are available in company so that customers can easily compared and take right
decision to select it for spending their leisure time. Feedback, comment, likes and share or
ratings are some of the other medium that helps people to know about previous experience of
customers.
Evaluation of alternative option: At this stage customer compared price, quality of products or
services, facilities and infrastructure, location of resort, hotels so that they can have best services
in specific amount of money. Official website of verdant leisure have provide this ease and
comfort to people by uploading several images or information regarding prices of particular
services so that guest can make right choice in order to fulfil its requirements.
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Selection stages: After evaluation of various or several alternative consumer plans to select
specific company products and services to have fun and enjoyment. Various advertisement and
information on official websites have motivated number of customers to prefer services of
verdant leisure as compared to other competitors in market. Email, promotion offers and
qualitative services helps in building and maintaining strong relationship with customers thus
contributed in long term growth and success of firm.
Evaluation of decision: It is last stage at which customers after receiving services of company
evaluates or review whether it has meet their expectation or not. Thus it can be stated that it is
most important stage for firm as it contributed towards retention of customer satisfaction and
loyalty for continuous growth and sustainability (Marmor-Lavie and Stout, 2016). Manager of
verdant leisure takes feedback from customers in order to know key areas where they lack so that
they can improve in order to provide better experienced in future. Therefore, feedback, effective
resolution of grievance and problem faced by customers and qualitative services has lead to
customers loyalty and increase in brand image of firm.
P2 Importance for marketer to understand consumer decision making process
Marketer are most important individual for firm as it contributed in influencing large
number of customers to make purchase of specific products and services so that firm can earn
maximum profit margin and market share. Therefore it can be stated that marketer need to
effectively understand consumer decision making process for effective satisfaction of customer’s
requirements and achievement of firm goals.
Helps in building and maintaining strong relationship with customers: Marketer of verdant
leisure by mapping pathway of consumer decision making is able to understand needs of
customers in effective manner. Thus, formulate better strategies to satisfy their wants so that they
are motivated to be part of organisation that provides maximum value to end users.
Contribute in effective achievement of goals: Another importance of understanding consumer
decision making process for marketer is that it helps in effective achievement of company goals
(Willis, Ozuem and Ng, 2019). It is able to know the way consumer select or prefer a product or
services of specific enterprise as compared to other competitors thus set better plans to induce
people to choose services so that sales volume and profitability of firm can be increased.
Better satisfaction of customer’s requirements: Consumer decision making process helps
manager to know about taste, preference and keys areas in which its interest lays thus it can
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