Consumer Behaviour Framework and Unilever's Economic Model

Consumer Behaviour

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Consumer behaviours framework................................................................................................3
Three factors are as follows.........................................................................................................3
CONCLUSION
REFERENCES................................................................................................................................1

INTRODUCTION
Serving customer in global market means selling product internationally, organization with huge
success in local market go for international opportunity (Bamossy and Solomon, 2016). This
study is based on Unilever, their products fulfil daily want and satisfy essential need. In this
report we will discus consumer behaviours framework and how behaviour impact the demand of
the product.
MAIN BODY
Consumer behaviours framework
Consumer behaviour framework Hawkins stern predict that how customers do purchasing
and make decision to buy, this let producer capitalize behaviour and produce goods accordingly
(Mothersbaugh, et.al., 2020). Many other framework show only rational action where Hawkins
stern framework argued on sudden purchasing of product by the customer. Researchers of
Unilever understand the impulse purchasing of their customers.
Three factors are as follows
Lifebuoy soap of Unilever, this product had massive sell last year, due to health
precaution and to be safe from spreading COVID virus. People have purchased soap on daily
basis, Unilever understand the change in behaviour decided to make improvement in the soap
and started selling it in new packaging which show the ingredient in product that protect from
COVID virus. Unilever's economic model of consumers behaviours:
Price effect: This means how price affect consumer's demand, prices of lifebuoy remain same
even after the massive increase. Unilever understand the concept that if price is high, consumer
is not ready to purchase but if the price is low or reasonable customer will happily buy the
product. This consumer behaviours helps Unilever as well as other companies to understand
what exactly customer want, Unilever study behaviour of consumer and make marketing plans or
product accordingly.
Substitution products: Unilever have large number of competitors, mainly in essential products
like soap (Solomon, et.al., 2017). There are many substitution products that decrease the sales
and shift their customer to cheaper alternatives, sales of lifebuoy decreased because of same
product produced by many other companies such as Dettol.