Consumer Behaviour Report on Canon EOS 5D Mark IV Camera

This report provides information on Canon EOS 5D Mark IV camera, target market profile and research of impact on consumer behavior and consumer decision making process.

BX2081: Consumer Behaviour
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SUBJECT CODE BX2081
STUDENT FAMILY NAME Student Given Name JCU Student Number
NUADNGAM KULLANAN 1 3 5 6 9 4 1 1
ASSESSMENT TITLE CONSUMER BEHAVIOUR REPORT
DUE DATE 14 SEPTEMBER 2018
LECTURER NAME MR. VAL PHILIP ORTEGA
TUTOR NAME MR. VAL PHILIP ORTEGA
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BX2081: Consumer Behaviour
Assessment Task 2: Consumer Behaviour report
Prepared by
Nuadngam Kullanan
13569411
James Cook University, Singapore
Lecture/ Tutor – Val Philip Ortega
BX2081 – Consumer Behaviour
Bachelor’s of Business
14th September 2018
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BX2081: Consumer Behaviour
Table of content
1. Introduction………………………………………………………………………………
2. Purchase situation & target market profile…………………………………………….
2.1 Description of product………………………………………………………………..
2.1.1 Benefit of the product……………………………………………………….
2.1.2 A medium-high involvement purchase product…………………………...
2.2 Target market profile…………………………………………………………………
3. Influencing Factors on the consumer Decision process………………………………...
3.1. Internal influencing factor…………………………………………………………..
3.2. Consumer Behaviour theory decision making process……………………………..
4. Conclusion…………………………………………………………………………………
5. Recommendation………………………………………………………………………….
6. Reference……………………………………………………………………………………
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BX2081: Consumer Behaviour
1. Introduction
In today's world, people's lifestyle has changed as social media have impact on their dairy life
which makes people have more interested about photographing with the camera can retain memories in
the form of images and videos. Nowadays, people using camera to earn a lot of money in movie industry
or become a professional photographer, etc. To have a camera that is powerful enough to support the
ability of the user, Canon EOS 5D mark IV camera is the answer. This new camera DSLR have functions
that flexible to user’s needed and also has outstanding features which more efficient than the previous
generation. There are many emerging companies which make business market has higher competition.
Due to that point, the pros and cons of product is one of the main factors that make consumers decide on
the purchase, but that is one of external influencing factor. However, internal influencing factor also are
important as it is base on customer’s attitude or their personality to purchasing goods which are more
difficult to control or change. Therefore, this report will provide the information of Canon EOS 5D mark
IV camera, target market profile and research of impact on consumer behavior and consumer decision
making process.
2. Purchase situation & target market profile:
2.1 Description of product
The product is EOS 5D Mark IV camera from the brand “Canon”. It builds on the powerful legacy
of the 5D series, offering amazing refinements in image quality, performance and versatility. Canon's
commitment to imaging excellence is the soul of the EOS 5D Mark IV. It is the world’s most universal
DSLR with Canon’s all new 30.4 full-frame megapixels’ sensor, and highly- detailed 4K video. Cannon’s
revolutionary Dual Pixel CMOS AF (size approx. 36 mm x 24 mm.) for both video and live view
shooting to be quick and smooth. Continuous Shooting is 7 frames per second for up to 21 images in raw
format (Dan, 2017). It provided built-in Wi-Fi for connecting to smart device and GPS. It constructs by
using a weatherized magnesium alloy body with L-series lenses which are all weather sealed, so it will
match for all-weather outdoor photographer and also has the ability to work in extremely low light. The
price of EOS 5D Mark IV camera is $3199 body-only (Canon, n.d).
2.1.1 Benefit of the product
This EOS 5D Mark IV camera delivers the brilliance and power to videographers, wedding and
portrait photographers and landscape shooters as it is a professional grade camera which combines the
largest sensor with the highest quality video, tons of features, huge megapixel and has amazing stamina
for a DSLR (Dan, 2017). It offers superb photography and imaging capabilities with a variety of
customizable features. However, due to there are these abilities, you can deploy function as needed to get
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BX2081: Consumer Behaviour
the shot you want as the professional or higher.
2.1.2 “EOS 5D Mark IV” camera as a medium-high involvement purchase product.
The medium – high involvement purchase is about the importance of a product or service to the
buyer, or the emotional significance of the purchase, correlate directly with the level of involvement. The
decision is highly involving due to most people want to be certain that they are making the right decision
(Kokemuller, 2018). There are many factors that lead customers to have a highly involvement to
purchase. For EOS 5D Mark IV camera, the main three factors are high price, technical features and
projection of self. Customers will have highly involvement when the price of the product is high, they are
more thinking about the value and technical features. The projection of self is when some consumers are
very specific about what they buy and ready to pay for the brand and convenient (Chand, n.d.). It
connected to this product as the price is very high equal to the value, but it usually uses by professional
photographer. Some people bought it by doesn’t know how to use it as well
2.2. Target market profile
A target market profile identifies the characteristics of the prospects most likely to purchase from
the company (Linton, n.d.). There are separate into 4 part, but will appeal only 3 in this report which are
demographic, behavioral and psychographic variables. Demographic is market segmentation which
including age, gender, income, education and more about customer’s detail (Gigli, n.d.). Customers of
EOS 5D Mark IV camera will be age around 30 – 65 years old from both male and female as the camera
functions are for professional who has purchasing power as well. Next, behavioral segmentation is
grouping customers based on how they act when making purchasing decision (fieldboom, n.d). Customers
of EOS 5D Mark IV camera have a very high loyalty as the camera will have more effective when using
with Canon’s accessories. The last segment is psychographic variables are any attributes relating to
values, attitudes, personality, interests, or lifestyles (Berkebile, 2009). Most of the customer interested of
taking photo around the beautiful place because the function is suitable.
3. Influencing Factors on the consumer Decision process
3.1. Internal influencing factor
The internal factors that influence the customers in buying a particular product are
lifestyle, perception, attitude and motivation. These are the internal factors that influence the
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BX2081: Consumer Behaviour
consumers in connecting with a particular product and buying it (Muruganantham & Bhakat,
2013). EOS 5D Mark IV is one of the premium cameras produced by the company, the tag line of
the company for this camera is “Designed to perform in every situation, the EOS 5D Mark IV is
beautifully engineered and a thoroughly accomplished all-rounder.” It is stated by the company
that the particular camera captures every small details “every nuance, every colour, every detail”.
The 5D series is one of the famous series of camera produced by the company and already people
are motivated to buy the cameras of this series. The camera is one of the most universal DSLR
cameras and the sensor is 30.4 full-frame megapixels and a system of highly detailed 4K Video.
All these are the reasons that catalyse the internal influencing factors.
3.2. Consumer Behaviour theory decision making process
The various important consumer behaviour theories are- theory of reasoned action,
motivation need theory, Engel Kollet Blackwell Model, Hawkins Stern Impulse Buying,
Marshallian economics theory and similar others. These are the various theories that aim at
explaining the reasons decision making process of the consumers (Solomon et al., 2014).
According to the theory of Reasoned Action, the main factor influencing the consumer decision
making process is the specificity. A specific action is done by a customer when an equal specific
target can be achieved. The motivation need theory explains that the consumers act in a certain
way to fulfil their needs which are dependent on a 5 stage priority system, which are safety,
survival, esteem, love and self-actualization (Oliver, 2014). The Engel Kollet Blackwell or the
EKB Model explains 5 steps which are taken by the customers while buying a product- input,
processing, decision making, thinking and impact. In this case the motivation need theory of
consumer behaviour fits the best which influences the decision making process of the consumers
to buy this particular product.
4. Conclusion:
It can be concluded that the EOS 5D Mark IV is one of the most advanced and featured
DSLR cameras presently in the market. The various features of the camera described above are
enough to draw the customers to buy the product. It is seen that the customers researching about
the different cameras have given a positive review about this camera and its various features. The
positive review about the product from the customers is in itself a great factor that influences the
consumer behaviour.
5. Recommendation:
The various areas where the company may work towards developing the products are
price, ease of use and visibility in the shelf. The company may revise the price a little bit so that
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BX2081: Consumer Behaviour
the product becomes more available to the consumers who have a lower budget. The camera is
thought to be complicated to be used by some of the users. Also better marketing and placement in
the shelf of the showrooms will make the product more visible and attractive to the cosnumers.
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BX2081: Consumer Behaviour
Reference
Dan. (May 7, 2017). Canon EOS 5D Mark IV: Do the Features Justify the Price? [Review].
Retrieved from: https://www.digitalcamcentral.com/canon-eos-5d-mark-iv-4-review/
Canon. (n.d.). EOS 5D Mark IV.
Retrieved from: https://www.usa.canon.com/internet/portal/us/home/products/details/cameras/eos-dslr-
and-mirrorless-cameras/dslr/eos-5d-mark-iv
Chand, S. (n.d.). High-Involvement Products and Low-Involvement Products Involvement | Difference
Retrieved from http://www.yourarticlelibrary.com/marketing/high-involvement-products-and-low-
involvement-products-involvement-difference/32299
Kokemuller, N. (June 30, 2018). What Are High Involvement Purchases?.
Retrieved from: https://pocketsense.com/high-involvement-purchases-10584.html
Linton, L. (n.d.). How to Create a Target Market Profile and Positioning Statement.
Retrieved from: https://smallbusiness.chron.com/create-target-market-profile-positioning-statement-
40517.html
Gigli, M. (n.d.). What Is Demographic Segmentation in Marketing? - Definition, Advantages &
Disadvantages. Retrieved from: https://study.com/academy/lesson/what-is-demographic-segmentation-in-
marketing-definition-advantages-disadvantages.html
Fieldboom. (n.d.). Behavioral Segmentation – Definition, Examples & Case Studies. Retrieved from:
https://www.fieldboom.com/behavioral-segmentation
Berkebile, D.(Juane 22, 2009). What are marketing psychographics?.
Retrieved from: https://www.getbrandwise.com/branding-blog/bid/18622/What-are-marketing-
psychographics
Muruganantham, G., & Bhakat, R. S. (2013). A review of impulse buying behavior. International
Journal of Marketing Studies, 5(3), 149.
Oliver, R. L. (2014). Satisfaction: A Behavioral Perspective on the Consumer: A Behavioral Perspective
on the Consumer. Routledge.
Solomon, M. R., Dahl, D. W., White, K., Zaichkowsky, J. L., & Polegato, R. (2014). Consumer
behavior: Buying, having, and being (Vol. 10). London: Pearson.
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