Consumer Behaviour and Insight: Analysis of Consumer Journey and Factors Influencing Decision Making Process for B2C and B2B Products/Services

ID
Unit Number and Title Unit 37 – Consumer
Behaviour and
Project Title Consumer
Behaviour and
Table of Content
1.0 Introduction Pg. 3
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2.0 Explanation and analysis of the stages of the consumer journey
using a visual road map/story board for a chosen B2C
product/service clearly showing and illustrating the path to
purchase
Pg. 3
3.1 Identification (with a full justification) of the factors that
influence the different stages of the process and how this
compares and contrasts with B2C products/services
Pg. 7
3.2 Identification (with a full justification) of the factors that
influence the different stages of the process and how this
compares and contrasts with B2B products/services
Pg. 8
4.0 Evaluation of how elements of the marketing mix also influence
the decision-making process, supported by further examples and
case study illustrations Pg. 10
4.1 The influence of culture and sub-culture on consumer
behaviour and/or the role of opinion leaders Pg. 11
5.0 Conclusion Pg. 12
References Pg. 13
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1. Introduction
Consumer behavior may be referred as the study of customer’s taste and
preferences, choices and behavior which can be utilized so as to enhance
commodity development along with customer service (Richard and Chebat, 2016)
. In addition to that, consumer insights help company in identifying how a customer
thinks and what are the factors that influences him to buy product or avail service. It
will help company in in framing of strategies which leads towards attainment of
objectives. This project report is based on Walmart, a retail outlet established by
Sam Walton in 1962. It has more than 10000 stores globally and operates in almost
24 countries. This project report will cover analysis of consumer goes through
decision journey and factors that influence in buying product. Along with this, it will
also cover various procedure and approaches of marketplace research in some
business and consumer context. At last, it will cover the level of causation which
influences marketers on each stage of decision making.
2.0 Explanation and analysis of the stages of the consumer
journey using a visual road map/story board for a chosen
B2C product/service clearly showing and illustrating the
path to purchase
Consumer journey mapping can be defined as the procedure of forming a map by
which judgement making activity of customers can be assessed (Munro, 2021). It is
the process of identifying demand as well as interest which can be helpful in
enhancing consumer service experience. Customer journey map in relation to
Walmart is discussed below.
 Need recognition- In this stage, products and services are evaluated by
which consumer can take effective decision. In context to Walmart, it
promotes its products on both online and offline platforms so that it can made
aware people about company’s offering. It will help company in capturing
consumer attention and creates a presence of company so as to attract larger
customer base. Company promotes its visual advertisements with social
media marketing by using flashy and eye catching images.
 Information search- In this stage, consumer gains information regarding
products or service. They opt every single platform to gain information about
product or service either on company’s website or by asking relatives, family
and friends. It will help consumer in better understanding of product or service
and buys product only after acquiring knowledge.
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 Evaluation of alternatives- In this stage, consumers evaluate alternatives
offered by other companies. On the basis of price, quantity and quality,
consumer evaluate and focus on nurturing leads so that company can
maintain seamless consumer conversion. There are various methods by
which consumer can evaluate alternatives such as comparing price, quality,
quantity and on the basis of brand equity of company.
 Purchase decision- This stage comes when customer has taken into
consideration to his shopping needs. In this stage after evaluating all
alternatives finally takes decision whichever he founds suitable. From the
evaluation of alternative products consumer can make decision on the basis
of need, cost, efficiency and on the basis of quality of product. Further, final
decision is made on the basis of whether product has potential to meet
requirement or not. Consumer will make decision regarding purchase of
product which fits to its pocket and have ability to fulfil expectation.
 Post purchase evaluation- In the last stage of consumer journey mapping,
consumer evaluates his decision on the basis of satisfaction level. If the
satisfaction level does not meet expectation, then decision taken by consumer
is wrong. This stage reflects activities of consumer and company by consumer
decision making journey. After making purchase, consumer will compare
effectiveness of product with its expectation and if product specification meets
expectation, then it can be said that product has fulfilled consumer’s
expectation. Consumer will return back if its expectation met with product
specification.
In Walmart, customer are buying retail groceries which is needed by every
household everyday such as dairy products, eggs, meat, bread, juices and
other daily required essentials. There are various by which consumer can
evaluate alternatives such as getting information from TV commercial,
newspaper advertising, hoardings, banners and on company’s website.
Walmart solves problem of various household by rendering daily essential
products at a reasonable price and delivers at customer’s doorstep.
Value Mapping Path
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