Understanding Consumer Behaviour: Models, Factors and Views
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Added on 2023/06/04
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This presentation provides an overview of consumer behaviour, including the different models of decision-making, factors that influence purchasing behaviour, and various views of consumer behaviour. It also discusses the value of mapping a path to purchase and the importance of marketing mix in influencing consumer behaviour.
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CONSUMER BEHAVIOUR PRESENTED BY (Name of the Student)
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Concept Of Consumer Behaviour Consumer buying behaviour is a part of observational activity, which is conducted to study the approaches of customers that they perceive before purchasing a particular product or services from an organization The consumers’ purchasing behaviour is highly dependent on product design, price, promotional methods, packaging, and positioning system arranged by the organization
Model of consumer decision making •Problem recognition: •In this very specific stage, the customers feel for the need of a particular product, which they tend to purchase immediately. •Information search: •After selecting the brand and services, customersintendsearchnecessary information regarding brand quality and their method of services •Alternative evaluation: •If the information collected from different resourcescomesasapositivethe customers,buyingbehaviourisalso portrayed as a positive response.
Model of consumer decision making •Purchase decision: •Purchasing decision is highly dependent on two previous stages mentioned above. If the information collected from different media tools seem tobe positive the customers’ intendtoshowtheirpositivepurchasing decision •Post-purchase behaviour: •Post purchasing behaviour is the phase when customers share their point of view regarding their overall impression about the product or services. Post purchasing behaviour may be positiveornegativewhichcompletely depends on the customers’ perception about the brands.
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Value of mapping a path to purchase •Beingis the very first phase where the customers can see on how interested they are in purchasing a specific product (Rezaei 2015). •Startingis the beginning of journey where customers self- evaluate whether the purpose of purchasing is pre-planned or impulsive. •Exploringisthephasewherethecustomersget opportunitytoexplorethebrandthroughnumerous platforms and gain enough information about it. In this stage, the purchasing behaviour of the customers is highly influenced (Solomon et al. 2017). •Buyingis the phase where customers decide to purchase the brand and thenenjoyits essence. This very specific path ishighlyinfluentialwhichdirectsthecustomersin purchasing the brand as well as its services.
Different levels of consumer decision-making •Extensive problem solvingis the very preliminary stage where the consumers have superficial conception about the brandoritsservices(Wolnyand Charoensuksai 2014). •Limited problem solvingis the phase wherethecustomersarewellaware about the brand and its services but they are confused in deciding whether they should go for purchasing the brand or not. •Routine problem solvingis the phase where the customers are aware of the brands with in-depth information and they have showed a positive response towardstheirpurchasingbehaviour (Rani 2014).
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Four views of consumer decision-making •Economic viewis a type of customers’ decision who decides in purchasing a brand as per the brands’ price range, value cost, profitability in terms of cost and quality (Shende 2014). •In the phase ofcognitive view,consumers in general are pictured as either receptive to or actively reluctant in purchasing the product (Rezaei 2015). •Emotional viewis another phase where the customers tend to purchase the product as per product design and outlet even though they have less purchasing power. •Passive viewof the customers comes from complete rationalism where the customers judge product and service quality before purchasing a brand.
Factors influencing decision- making New technological implementation In today’s technological intervention, customers are no more interested in observing traditional media platforms for getting in-depth overview about the brands as well as services
Marketing mix •Productshould be superior quality, whichcaneasilyimpress customers’ attention. •Priceshould be affordable for the target customers for influence their purchasing behaviour. •The placeof the brand should have both online and offline flexibility so that people from different age groupandpsychological backgrounds can avail products. •In today’s business scenario, online mediapromotionis the best way to draw the attention of customers.
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References •Chiu, C.M., Wang, E.T., Fang, Y.H. and Huang, H.Y., 2014. Understanding customers' repeat purchase intentions in B2C e‐commerce: the roles of utilitarian value, hedonic value and perceived risk.Information Systems Journal,24(1), pp.85-114. •Govindan, K., Rajendran, S., Sarkis, J. and Murugesan, P., 2015. Multi criteria decision making approaches for green supplier evaluation and selection: a literature review.Journal of Cleaner Production,98, pp.66-83. •Karimi, S., Papamichail, K.N. and Holland, C.P., 2015. The effect of prior knowledge and decision-making style on the online purchase decision-making process: A typology of consumer shopping behaviour.Decision Support Systems,77, pp.137-147. •Kim, J., Kim, K.H., Garrett, T.C. and Jung, H., 2015. The contributions of firm innovativeness to customer value in purchasing behavior.Journal of product innovation management,32(2), pp.201-213. •Raheem, A.R., Vishnu, P. and Ahmed, A.M., 2014. Impact of product packaging on consumer’s buying behavior.European journal of scientific research,122(2), pp.125-134. •Rani, P., 2014. Factors influencing consumer behaviour.International journal of current research and academic review,2(9), pp.52-61. •Rezaei, S., 2015. Segmenting consumer decision-making styles (CDMS) toward marketing practice: A partial least squares (PLS) path modeling approach.Journal of Retailing and Consumer Services,22, pp.1-15. •Shende, V., 2014. Analysis of research in consumer behavior of automobile passenger car customer.International Journal of Scientific and Research Publications,4(2), p.1. •Solomon, M.R., White, K., Dahl, D.W., Zaichkowsky, J.L. and Polegato, R., 2017.Consumer behavior: Buying, having, and being. Boston, MA, USA:: Pearson. •Wang, Y. and Yu, C., 2017. Social interaction-based consumer decision-making model in social commerce: The role of word of mouth and observational learning.International Journal of Information Management,37(3), pp.179-189. •Wen, C., R. Prybutok, V., Blankson, C. and Fang, J., 2014. The role of E-quality within the consumer decision making process.International Journal of Operations & Production Management,34(12), pp.1506-1536. •Wolny, J. and Charoensuksai, N., 2014. Mapping customer journeys in multichannel decision-making.Journal of Direct, Data and Digital Marketing Practice,15(4), pp.317-326.