Consumer Behaviour: Insights, Stages, and Influencing Factors

CONSUMER BEHAVIOUR
INSIGHT

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
Section 1...........................................................................................................................................3
1. Stages of the consumer's decision-making process.................................................................3
2. Black box model of consumer behaviour................................................................................4
3. Map of the consumer's decision-making process....................................................................4
Section 2...........................................................................................................................................5
4. Similarities and differences of the decision-making process...................................................5
5. Market research methods.........................................................................................................6
6. Market research influences......................................................................................................7
Section 3...........................................................................................................................................7
7. Factors that influencing the decision-making process.............................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Consumer behaviour is the deep study of customers' nature in the market. This study is
cover on the basis of individuals, groups, or organizations choose, purchase, use, and disposal of
products and services. There are different types of the customers in the market, with their
different mentality and mindset. They buy products and services on the basis of their daily life
needs. Consumer behaviour also included some major elements called; customers emotions,
experiences, income status etc. these all elements really impact the buying efficiency of the
customers. This report is discusses B2B and B2C context of the Netflix company including
consumer behaviour.
Section 1
1. Stages of the consumer's decision-making process
There are five major stages or steps of the consumer's decision-making process below, in
which the customers are deciding what, when, where purchase the products and services.
1. Need recognition: The decision-process of the customers is starts with some specific
problems, in which the customer rise or develop a need for the particular product and
service (Uddin and Khan, 2016). When customers realize that there are something in
missing their daily life, and then they prepare decision-making to fulfil these emptinesses
by buying any product and service from the market.
2. Searching process: In this stage of the decision-making process, customers are searching
different areas of the market to buy that specific product or service. In which they analyse
the best deal in the market for buying something.
3. Alternative evaluation: Customers can analyse the alternative options of the product and
service which they want to buy, and then customers go for that side where they get
product and service at reasonable cost.
4. Purchase: In this stage customers go for purchase the product or service according to
their need (Kumar and Dash, 2015). In this, customers also sure about what they are
buying and what's the value of this particular product or service in the market.
5. Post-Purchase behaviour: After purchasing, if customers are satisfied with purchase,
they will remember the experience, and then next time if they need for that same product
and service, in that case buy on the basis of previous experience.
Influencing factors of the decision-making process stages

There are various factors that influencing to the stages of decision-making process of the
customers, in which some major factors are mentioned below;
1. Perception: In this factor customers are using their previous experiences during buying
something in the market. Their mindset and image about any particular product or service
really impact their buying efficiency.
2. Motivation: Customers are many times motivate to buying something on the basis of
their own motivations which was they again from their around world. For example; The
Netflix providing some exclusive shows on their platform which TV streamers are not
provided. In that case customers get motivate to buy subscription of the Netflix.
Evaluation
Decision-making of customer is very essential as it helps to understand the behaviours and make
effective strategies to increase potential of businesses. With help of customer's decision-making
process business will understand the needs and wants to produce effective products and services
which helps to satisfy them and make them loyal. However, analysing decision-making process
of consumer increases cost of businesses and also consumes time to understand the process.
2. Black box model of consumer behaviour
The black box model is used for the purpose of study the buying behaviour of consumers
in the market (Khare, 2016). This model is generally uses by the businesses to analyse their
customer's cultural, social, personal and psychological aspect in the market.
Black box of Consumer behaviour helps to determine the engagement of consumers in a business
to satisfy themselves. This model helps to identify the touchpoints of customer engagement in
the business to evaluate their buying pattern. Business organization uses this model to evaluate
customer buying patterns to formulate effective marketing strategies.
All customers needs are not the same, because they all are comes from different
background. In this case it is impact the marketing decisions of the company, because marketing
management is need to analyse the basic needs of the customers, then try to offer them only that
products and services which they actually want. Company also responsible to run that marketing
activities in the market which completely fulfil the cultural, social, personal, and psychological
needs of the customers.