Understanding Consumer Behaviour: A Study on Rolex Watch Company

This report examines the Engel Kollat Blackwell model, situational influences, psychological influences, and social influences on consumer behaviour, specifically focusing on Rolex Watch Company. It discusses the various stages of the decision-making process, the factors influencing the decision process, situational influences on buyer behavior, and the psychological theories that explain human thoughts, emotions, and behavior. Additionally, it explores the role of social influences in shaping consumer behavior. The report concludes with recommendations for marketers to improve consumer behavior and achieve marketing objectives.

CONSUMER BEHAVIOUR

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Engel Kollat Blackwell model ....................................................................................................3
Situational influences...................................................................................................................4
Psychological Influence ..............................................................................................................5
Social influences .........................................................................................................................6
Recommendation ........................................................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................7

INTRODUCTION
Consumer behaviour is the study through which individual. Organization and group and
all other activities with the purchase disposal and use of products and services. It also states
about how the consumer emotions, preferences and attitudes being shown after buying their
behaviours (Fasi, 2017). Rolex watch company is Swiss luxury watch manufacturing company.
Furthermore, founded by Wilsdorf and Davis as their company name being brand name of its
watches and become Rolex watch company. This report explain about the EKB model,
situational influence, pyscological factor, social and group reflection.
MAIN BODY
Engel Kollat Blackwell model
This model in consumer behaviours help me in creating for increasing fast growing
knowledge concerning well by consumer behaviour. I have use this model as for showing more
about Rolex company come to know more about their customer and revision of improving on the
basic of relationship and sub-components. Here are followed EKB model:
Information input stages:-
In this stage I have come to know about their marketing information might be related to
their marketing sources, which influence their stage in process of decision-making. If consumer
does not arrive to their decision than the external information could be their choice activated and
make them in arriving to their decision. In Roles watch company consumer decided their pricing
and some other general information which help their consumer to know more about watches.
Information processing stage:-
From this stage I have basically consists of attention, perception, acceptance and
retention of income information (Nageswari, 2019). Rolex watch company they make their
consumer first to be more exposed to their messages, allocate with them some information and
retain them towards work of their messages along with that also make them to stay with them
long term inputs.
Decision process stage:-

I have come to understand about Rolex watches company they respect their consume
decision, evaluating their problems, alternative evaluation, outcome and purchasing of their
products. But it might be necessary for every consumer to go with their stages and extended their
routine problem solving behaviour.
Variable influencing the decision process:-
This stages I had basically consists of their individual and environmental power that
impact all five level of decision procedure. Rolex watch companies towards their consumer
includes some characteristics such as values, motives, lifestyle and personality, their social
influence, family, reference group and some of financial conditions that influences decision
process.
Situational influences
Situational influences are conditions of temporary that affected the buyer behave and
actually for buying their products or buy nothing. In Rolex watch companies as they have price
and high level of strategies through which many consumers are being more confused, and they
are taking much decision before buying their products (Green And et.al., 2019). They can also
include things physical factors, time factors and some other reason for buyer purchasing and
depends on buyer mood.
Positioning strategies:-
In this consumer come to know about their positioning strategies in which they are going
for shopping orientation, and they try to make their more goals to be complete. Along with this
Rolex watch company can also understand their consumer behaviour and make their needs more
to be fulfilling and satisfied them for having more customer targeted.
Consumerism:-
This means that social and economic factor that might be encouraged more to have their
acquisition in other products and services. As in Rolex they are selling more watches at different
stores and making their more customer shopping orientation. That might be more benefits to
have their consumer satisfaction and developed more market position.
Global marketing:-
Global marketing help consumer to know more various products and through which they
can come to know about their more strategies and various products what they are selling
(Mothersbaugh, Hawkin and Kleiser, 2019). In conducting global marketing they can easily

know more about their products and services that could keep their consumer attraction for having
more shopping orientation from their stores.
I have used an appropriate theory in which for shopping orientation through which I
come to know about their various stores and products. In global marketing that could be easier
for knowing about their business strategies and I would like to use their products as well as their
more watches for my satisfaction.
Psychological Influence
Basically this influences provides for understanding human thoughts, emotions and
behaviour. Some various types of psychological theories:
Development theories:-
Developments theories is a type of guiding concepts and principle through which human
beings come to know about their strategies and how there are going to develop their products
(Trudel, 2019). Such theories have main focused on quality and information about their using
products. As Rolex like to give their some basic information regarding their products and
services. In these theories it comes to know about their attitude towards the products.
Personality theories:-
It looks over highly thoughts, feelings and behaviours of human being. It basically states
about their personality in using products or some other things which could make them more
satisfied. Through it can consumer can easily know to their how to make unique them for some
other human while by using some luxurious brand.
Behavioural theories:-
While showing attitude towards using products that can easily maintained their more
products and services for using high products. This theory gives ideas about all behavioural that
are might be acquired through conditioning.
I have understood about the various attitude, personality and nature about the human
behaviours through which it might be more possible in developing more market skills. It can also
help me for gaining more knowledge about products and how to make their proper use of
products (Joshi and Rahman, 2019). I would have more focused on behaviour theories that help
me in knowing about the various products that keep me for knowing how other people use their
products and services.

Social influences
Social influences that directly affected the behaviour of consumer and making their
strong more products and services. Although they play various role for making their products
more developed and try to make their products to use more and proper manner. In trending they
come to know that consumer demand on their products and services what would more useful in
developing more about their products and services. Company can easily scan more about their
strategies and market trends in which they can easily track their consumer trends and make their
need to be fulfilling (Boccia, Malgeri Manzo and Covino, 2019). These family influences affect
how consumers look at purchases more directly than most other social influences on consumer
purchasing. I must follow the market trends that could keep more update about the various
marketing role and easily come to know about their marketing mix and make my needs to fulfil.
Recommendation
I must take the help of data of company that could me in understanding about their
strategies and motivation that might be more useful for me (Frichou, 2020). It should more
important for marker for improving their some consumer behaviour and make their products
more ethics. These brands make more attraction towards their various types of watches and as
they have use the proper strategies through which they come to know about their goals and
objective that can be achieved for taking proper marketing position.

CONCLUSION
From the above report it had been concluded that reflection make understanding more
about the various data, situation and ideas that make their learning skills better in various things.
Reflection is also dynamic and active process which could make their study more valuable.
Furthermore, try to encourage looking issues from different perspectives.
REFERENCES
Books and Journals
Fasi, M., 2017. A Conceptual Understanding of Consumer Behaviour. Sankalpa.7(2). pp.45-53.
Nageswari, R., 2019. the evolution of consumer behaviour in digital the age. evolution.7(1).
Green, J.P. And et.al., 2019. Personality consistency and situational influences on behavior.
Journal of Management. 45(8). pp.3204-3234.
Mothersbaugh, D.L., Hawkin, D.I. and Kleiser, S.B., 2019. Consumer behavior: Building
marketing strategy. McGraw-Hill Higher Education.
Trudel, R., 2019. Sustainable consumer behavior. Consumer psychology review. 2(1). pp.85-96.
Joshi, Y. and Rahman, Z., 2019. Consumers' sustainable purchase behaviour: Modeling the
impact of psychological factors. Ecological economics. 159. pp.235-243.
Boccia, F., Malgeri Manzo, R. and Covino, D., 2019. Consumer behavior and corporate social
responsibility: An evaluation by a choice experiment. Corporate Social Responsibility
and Environmental Management. 26(1), pp.97-105.
Online
Frichou. F., 2020. What are consumer insights and how do I use them? An introduction [Online].
Available through: <https://business.trustpilot.com/reviews/learn-from-customers/what-
are-consumer-insights-and-how-do-i-use-them>