Consumer Purchase Behaviour of Coca Cola - Report
Added on 2020-07-23
12 Pages3092 Words306 Views
Consumer Behaviour andInsight
INTRODUCTIONConsumer purchase behaviour is the study of analysing customer buying behaviours andthe factors that influences an customer to purchase a particular product or services of particularbrand (Mauri and Minazzi, 2013). In this context, how the customer purchase behaviourinfluences the sales of Coca Cola will be examined in this report. The different stages ofconsumer decision making process will be analysed and the importance of marketers to map thepath of consumer decision making process will be assessed in this assignment. The keydifferences of decision making process in context with B2B and B2C will be analysed and thedifferent approaches of market research and methods of research will be assessed. Evaluation ofhow marketers can influence the different stages of the decision-making process of B2Band B2Cwill be made in this assignment. TASK 1P1 Analysing the stages of consumer decision making journey for products and services of Coca-ColaConsumer Decision making: Any person who purchases goods and services from the marketfor his/her own personal consumption is called as consumer (Ghose, Ipeirotis and Li, 2014).From the analysis of the market it was identified that more than 600 million customers,worldwide consumes Coca Cola products daily thus making it the number one beveragecorporation in the world. As the competition is increasing day by day and the consumer purchasedecision has been greatly influenced by new emerging markets and their products. The processof customer decision making is listed below:1
Customer Need Recognition: This is the first step in the process of customer decisionmaking (Kalnikaitė, Bird and Rogers, 2013). In this step, customer analyse the need topurchase the particular product. For example, an individual purchase cold drink when heor she is thirsty and needs something refreshing. Thus in this context, customer whoneeds Coca Cola product will made the purchase decision accordingly.Information search: This is the second stage of consumer decision making process. Inthis stage an individual acquires information about the particular product he or she needs.The information can be collected from various sources including television commercials,personal sources like friends or relatives and public sources like newspapers ormagazines. Thus, it is very essential for the marketing management of Coca Cola toincrease their promotional activities so that more and more customers can be attracted.Evaluating alternatives: This is the third stage of consumer decision making process inwhich consumer identifies the alternative of products or substitutes. This helps him toanalyse which product is better or efficient (Sekaran and Bougie, 2016). There are2Figure 1: Customer Decision Making Process Model(Source: Using Psychology To Strategise Keywords – Consumer Decision Making Process,2016)
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