This report discusses the involvement levels in purchasing products, internal and external factors influencing decision making, responsibility of marketers in influencing decision making, and high-value consumption experiences.
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Running head: CONSUMER BEHAVIOUR Consumer Behaviour Name of the student Name of the University Author note
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1CONSUMER BEHAVIOUR Executive Summary The primary purpose of this report is to discuss about the involvement levels pertaining to the purchase in my consumption diary. The report also talks about the internal factors that has an influence on the pattern of consumption of an individual. The report also elaborates on the external factors that has effect on the pattern of consumption of an individual. The report also talks about the marketing strategy that have been employed that can influence the decision making process of the customer. The report also talks about a significant consumption experience that can prove to be crucial for an individual.
2CONSUMER BEHAVIOUR Table of Contents Introduction................................................................................................................................3 Involvement levels in purchasing product.................................................................................3 Internal Factors influencing decision making............................................................................4 External factors and Individual consumption............................................................................4 Responsibility of marketers in influencing decision making.....................................................5 High value consumption experience and its significance..........................................................6 Conclusion..................................................................................................................................6 References..................................................................................................................................8 Appendix..................................................................................................................................10
3CONSUMER BEHAVIOUR Introduction Consumer Behaviour refers to study of the individuals and the groups that are related with the purchasing and the use of the products. Consumer Behaviour includes the mental along with the behavioural responses of the consumers that is critical in relation to marketing (Kaihatu & Spence, 2016). Consumer Behaviour refers to actions of customers and the motives that can give rise to such actions for an individual.This report throws light on the involvement levels that makes a consumer buy a product. This report also discusses about the internal factors that have an effect on the consumption of an individual. The report also talks about the external factors that helps in influencing the aspect of decision making. The report also throws light on the marketing activity that has been used for influencing the decision making of the buyer. The report also talks about an important consumption experience and its significance for an individual. Involvement levels in purchasing product The involvement level pertaining to the buying of the fitness tracker was some amount of involvement. The buying of the fitness tracker was important for me as it was crucial for my level of the fitness. The alternatives were considered before buying the fitness tracker that can help me in ensuring my good health. The product was bought with the help of high involvement media of printing as magazine was made use of for gathering information about the product. The information was processed in a clear manner with the help of the magazine that helped in bringing about the effective behaviour. The problem was recognized pertaining to my health that made it imperative for me in buying the product (Baker, 2016). The information about the product was searched in the magazine that helped in purchasing of the product. The Avocado oil was bought with the help of the factor of the low involvement as this is a product that is regularly used by me. The avocado oil is the name of an edible oil that was used like an ingredient in the dishes. This purchase was not that significant for the customers and it takes little amount of the information processing in buying the product. The consumer buying process that was involved pertains to the need of the oil that can help in enhancing the taste of the cooking. The diamond set that was bought involved a high level of the involvement and this product was bought after an advertisement of this product was seen in the magazine. This purchase was expensive and it required a great deal of processing of the information. The magazine helped me in getting extensive information about the specification of the product that helped me in buying the product. A great deal of
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4CONSUMER BEHAVIOUR consideration of alternative was involved in buying the diamond set as it needed a great deal of investment (Karimi, Papamichail & Holland, 2015). There are various diamond brands in the market like Harry Winston, Cartier, Tiffany & Co and De Beers. The diamond set that was bought by me belonged to the company of Tiffany and Co that is the name of an American luxury company. The company has exposure in the international arena that helped in catering to the tastes of the customers. The information about the product was searched by me with the help of magazine that helped me in making the purchase decision (Wang & Yu, 2017).The purchase was made so that it can help it enhancing my social status and the product can help me in creating a favourable impression in front of the other people. Internal Factors influencing decision making There are various internal factors that has an effect on the consumption practices of an individual. The phone power bank was bought so that it can help in satisfying the internal influence of motive of an individual. The Maslow theory of the Motivation states that an individual buys a product so that it can help an individual in the arena of self-actualization, esteem, love, safety and physiological. The phone power bank can help me in staying connected with the outside world that can help in ensuring my safety in the society. The Louis Vuitton Handbag was bought by me so that it can help in raising my esteem within the framework of the society. It can also aid the process of my self-actualization that can help in creating a distinct position within the social order (Huang & Benyoucef, 2017).The luxury handbag can help me in signifying my lifestyle that can help in creating a positive impression on the other people. The handbags play a crucial role in the lives of the modern woman and the handbags of the women acts as a fashion statement for the women. The women carry the personal belongings in the handbag that makes it crucial for the women of the present age. The handbag can help in carrying the cosmetics along with the valuables that can prove to be of great convenience for me. The Bluetooth speaker that was bought by me can help me in the area of self-actualization that can help me in maintaining communication with my colleagues. It can help me in carrying out conversation with the various business that can help in my professional development. It can play an important role in fulfilling the need of self- actualization that can help me in evolving as a confident individual (Tih et al., 2016). External factors and Individual consumption There are various kinds of external influences like demographics, lifestyle, house hold, reference groups, social class, culture and the values that can cause an individual to buy
5CONSUMER BEHAVIOUR a particular product. The Louis Vuitton handbag was bought by me so that it can help in influencing my lifestyle that can create a positive effect on the people. The people in my society have expensive assets and this acted as an external factor that made me to buy the product. The members in my neighbourhood carry expensive items and this had a major influence on me that made me to buy the product. The members of my family wanted me to buy the indoor herb planting accessories that caused me to buy the product. The hanging planters and the nursery pots was bought by me after my family members wanted me to buy the product. The members of my family are very concerned about the inner beauty of the house and they wanted to buy the accessories (Srivastava & Kaul, 2016).The pet care accessories are bought by me as our culture believes in the fact that even the animals should be well-cared for in the society. The pet products that had been bought were the pet carrier that can help in carrying the pet in the event of going out on a holiday vacation. The pet carrier can help my dog in relaxing while being on the road. The culture within which we live lays a great amount of stress on the aspect of respect that an individual should have for the living that can be found around. The culture in which we live talks about the fact that every living creature should be given their due respect in the universe. The aspect of culture had an influence on me that caused me to buy the pet care accessories. Responsibility of marketers in influencing decision making The main responsibility of a marketer is in influencing the decision making process of the customer that can influence the consumers. The marketing strategy that have been used in popularizing the Louis Vuitton handbag is television. The television can help the consumers in knowing about the specific details of a product that can help in selling a product in the market. Experience is an important element in relation to the luxury brand management. The luxury brands need a different kind of proposition that can help in providing a superior experience for the customers (Srivastava & Kaul, 2016).The advertisement through the medium of the television helped in advocating beliefs to the customers instead of depending on the brand values. The diamond set of Tiffany and Co was made popular with the help of the magazine that helped in specifying the exclusive details of the piece that helped it in catering to the demands of the customer. The magazine highlighted the fact that the piece was designed in an aesthetic manner by the help of experienced designers of the industry. The magazine contained information about the price and the carat of the product that helped me in buying the product. The features of the design were highlighted like the fact that it was made of high quality metals that can help it in being skin friendly that made the product exclusive
6CONSUMER BEHAVIOUR within the market (Joshi & Rahman, 2017).Another high-value consumption product that was bought was Audi A8 that was bought for the purpose of maintaining the lifestyle. The website of the Audi company was used for the purpose of marketing of the luxury item. The website of the car manufacturer was used for getting authentic information like the price, mileage, engine, BHP, seat and the boot space of the car. The buyer behaviour was predicted with the help of number of people who were visiting the site page that helped the company in getting the attention of the customers. High value consumption experience and its significance The high value consumption experience was in relation to the purchasing of the luxury car called Audi A8 that can help in creating a positive impression on the people. The luxury cars can benefit the people as it has the new innovations that can help in catering to the needs of the modern day consumer (Parsons, Maclaran & Chatzidakis, 2017).The premium automaker focusses on the aspect of the high performance that can prove to be of great convenience for the people. They have been able to differentiate themselves in the market with the help of their innovative and the aesthetic features (Zhao et al., 2018).The car possess the safety innovations that can help it in emerging as a popular product in the market. The car has air bags, backup cameras, smart cruise control and the keyless entry that can create a distinct experience for the common people. This product is important for me as it has the convenience features that can help in popularizing it in the market. The car has facilities for the automatic climate control, GPS navigation and the power windows that sets it apart from the other cars of the present age (East et al., 2016).The car has the power and the smoothness that can help in the creation of a rich experience for the customer. Conclusion Consumer Behaviour is indicative of study of individuals along with the groups pertaining to buying of products from the market. Consumer Behaviour is indicative of behavioural response that can be said to be crucial pertaining to marketing. Fitness tracker was bought from market that only involved little amount of the involvement. The fitness tracker can help me in maintaining my physical health that can help in the maintenance of my health. The consideration of the alternatives were done before buying the product. The theory of Maslow pertaining to motivation points out to the fact that an individual can get motivation in the event of fulfilment of esteem, love and the self-actualization. There also exist external influences like lifestyle and the social class that can determine the buying
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7CONSUMER BEHAVIOUR pattern of an individual. The handbag of the popular brand Louis Vuitton have helped in enriching my lifestyle which has helped in the creation of positive impact on the people. There are various kinds of people in the society who possess the expensive assets that helps in creatinga good impression on the peopleliving in the society.The consumption experience can be said to be of high value as the car called Audi A8 can create positive effect on the people. The luxury cars can bring great benefit for the people and the innovations of the car can help in serving the needs of the customers of the present age.
8CONSUMER BEHAVIOUR References Baker, M. J. (2016). What is marketing?. InThe Marketing Book(pp. 25-42). Routledge. East, R., Singh, J., Wright, M., & Vanhuele, M. (2016).Consumer behaviour: Applications in marketing. Sage. Huang, Z., & Benyoucef, M. (2017). The effects of social commerce design on consumer purchase decision-making: an empirical study.Electronic Commerce Research and Applications,25, 40-58. Joshi, Y., & Rahman, Z. (2017). Investigating the determinants of consumers’ sustainable purchase behaviour.Sustainable Production and consumption,10, 110-120. Kaihatu, T. S., & Spence, M. T. (2016). The relationship between shopping mall image and congruity on customer behaviour: Evidence from Indonesia.Australasian Marketing Journal (AMJ),24(2), 141-145. Kaihatu, T. S., & Spence, M. T. (2016). The relationship between shopping mall image and congruity on customer behaviour: Evidence from Indonesia.Australasian Marketing Journal (AMJ),24(2), 141-145. Karimi, S., Papamichail, K. N., & 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, 137-147. Parsons, E., Maclaran, P., & Chatzidakis, A. (2017).Contemporary issues in marketing and consumer behaviour. Routledge. Srivastava, M., & Kaul, D. (2016). Exploring the link between customer experience–loyalty– consumer spend.Journal of Retailing and Consumer Services,31, 277-286. Tih,S.,Wong,K.K.,Lynn,G.S.,&Reilly,R.R.(2016).Prototyping,customer involvement, and speed of information dissemination in new product success.Journal of Business & Industrial Marketing,31(4), 437-448. Wang, Y., & Yu, C. (2017). Social interaction-based consumer decision-making model in socialcommerce:Theroleofwordofmouthandobservational learning.International Journal of Information Management,37(3), 179-189.
9CONSUMER BEHAVIOUR Zhao, Y., Chen, Y., Zhou, R., & Ci, Y. (2018). Factors influencing customers’ willingness to participate in virtual brand community’s value co-creation: The moderating effect of customer involvement.Online Information Review.
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10CONSUMER BEHAVIOUR Appendix DATEACTIVITYKey InfluencesComments Notewhatyoupurchased (including the brand), watched,heard, read, consumed Internal and externalRelevant comments on marketing acti may have impacted on your purchase 26.03.2019 19 Bluetooth speakerMotives and LifestyleTelevision 26.03.2019Fitness TrackerPersonality and LifestyleMagazine 27.03.2019Charcoal Face MuskPersonality and Social ClassRetail stores 27.03.2019Phone Power BankMotive and LifestyleAmazon web site 28.03.2019BagsPersonality and LifestyleTelevision 29.03.2019Blow DryerPersonality and The householdMagazine 30.03.2019Liquid Phone CaseAttitude and LifestyleTelevision 31.03.2019Blow DryerPerception and LifestyleRetail Store 01.04.2019Indoor Herb Planting AccessoriesPerception and ValuesTelevision 02.04.2019BackpacksPersonality and LifestyleMagazine 02.04.2019Avocado OilPersonality and The householdTelevision 03.04.2019Pet Care AccessoriesAttitude and The householdTelevision 04.04.2019AvocadosPersonality and The householdsupermarket 05.04.2019Buttered popcornEmotion and Demographicssupermarket 06.04.2019Ferrero RocherEmotion and Lifestyletelevision 07.04.2019GhirardelliEmotion and LifestyleMagazine 08.04.2019Diamond SetAttitudes and LifestyleMagazine 09.04.2019Audi A8Personality and LifestyleCompany website Figure: Consumption Diary Source: Created by the author