Consumer Buying Behaviour & Satisfaction : Assignment - MKT 320
Added on 2020-03-02
11 Pages3763 Words47 Views
Running Head: Consumer Buying Behaviour & Satisfaction towards food products. Business ResearchMethodFull literature review. 0
Consumer Buying Behaviour & Satisfaction towards food products. Table of Contents1.Introduction.....................................................................................22. Factors affecting consumer buying behaviours and satisfaction level towards food products in Sydney.................................................22.1 Literature Review........................................................................22.1.1 Situational Factor...................................................................32.1.2 Personal Factor.......................................................................52.1.3 Psychological factors.............................................................62.1.4 Societal factor.........................................................................83.Conclusion......................................................................................84.References.......................................................................................81
Consumer Buying Behaviour & Satisfaction towards food products. 1.IntroductionThe literature review includes the detailed study and answers to the relevant research questions. The entire literature argues upon the consumer behaviour and satisfaction regarding the fast food product in Sydney. It has covered almost all the aspects that influence the buying behaviour and thereby the satisfaction level. The multiple factors whose impact is there on decisions are situational, personal, psychological and societal factors. The satisfaction could be acquired by receiving the after sale services and undertakingall these factors through understanding every aspect of study by implementing the required changes. The learning could be thereafter utilised in expanding the business and widens up the scope for students as well as the business owners in Sydney.2. Factors affecting consumer buying behaviours and satisfaction level towards food products in Sydney.2.1 Literature ReviewAccording to Kotler, consumer buying behaviour is the mash up of multiple attributes. It depends upon what are the thoughts juggling in the head of the consumer while making purchases, what the ideas are rolling up and down in the consumer’s mind, what are the sources from where adequate purchases could be made and how will these products and services be disposed of after usage. There is numerous variable connected with buying the product or availing the services. According to Beard (2014), consumer satisfaction is the feeling beneath the consumer that cannot be measured in terms of units. Consumer satisfaction is the person’s own feeling of happiness, completeness and pleasure this is derived when the things or service received is more than what is expected. When the things go above the expected limit of the consumer thesatisfaction rises (Beard, 2014). There is a simple equation of consumer satisfaction which is given by the great author:2Consumer Satisfaction = Customer’s perception of received service- Customer expectation of particular service.
Consumer Buying Behaviour & Satisfaction towards food products. As per Dudovskiy (2015), consumer buying behaviour is based on the purchasing power of the customer. It depends upon their budget to purchase the things or consume the services. Along with that, the usage is also the important factor, i.e. how much long lasting the productis, whether it is perishable or imperishable. Consumer buying behaviour is influenced by the choice as well; this is another attribute that plays the role while making purchases (Dudovskiy, 2015). If two friends went on shopping there are two situations that arise, first is that both like the same product and the other is one like the product thoroughly and other do not like. These are known as various choices and mindset of the consumer. Every person is distinct in themselves and one might like Domino’s whereas other like Pizza hut and here arrive the bifurcation and competition. It is the consumers who create the competition in the market. Because of their demand, the fluctuations are occurring in the markets and rapid changes are taking place in relevance to dynamic fashion, changing trends, diverging tastes and need of newness. Beard. R. (2013) has stated that, since the consumer is far more aware and consists of knowledge and skills they scrutinize the product and service deeply. They check the authenticity of the product given or services rendered and compare it with the standards created by them only. Whether the expectations are touched or it stayed below or might go beyond. The cycle does not stop here after sale services are also demanded by the consumers and these are the major and minor factor which mixes together to attain the consumer satisfaction. There are various factors that influence the buying behaviour of the consumer. Some of the factors are: situational, personal, psychological and societal (Principles of marketing, n.d.). These aspects are broadly developed and discussed in detail as follows:2.1.1 Situational FactorAccording to Tanner & Raymond (2017), whenever the consumer decides to shop they prefer the shop which is nearby and contains the required stuff which needed. For establishing the organisation, shop, retail store or departmental store all require a suitable location which is near to manufacturing unit and warehouse and is in the reach of the consumers. After selecting the location mapping and designing of the building also matters a lot. There is a prime need to have an adequate infrastructure and layout of the organisations so that the owner, employees and customers all get their level of satisfaction. Satisfaction alsovaries from person to person. The owner is satisfied on growing and gaining the business, employees are satisfied as they are getting a reward for their services and additional benefits 3
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