This report analyzes the stages of consumer decision-making journey, identifies factors influencing different stages, compares B2C and B2B decision-making, evaluates market research methods, and discusses marketing mix elements influencing decision-making process.
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B2C & B2B Consumer Decision-making Process
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TABLE OF CONTENT INTRODUCTION...........................................................................................................................4 MAIN BODY...................................................................................................................................4 Analysis of the stages of the consumer journey..........................................................................4 Identification of the factors that influence the different stages....................................................5 Critically evaluating the different forms of market research by comparing and contrasting the B2C and B2B products and services (decision-making process)...............................................6 Evaluating the element of marketing mix which influences the decision-making process as supporting with examples............................................................................................................7 REFERENCES..............................................................................................................................10
INTRODUCTION Consumer decision-making Process is one that is adopted by the consumers' so that best purchasing decision might be made in the future. Also, the present report is based onASOS which is very well-known British cosmetic and fashion retailer in UK. Furthermore, the study will analyse the stages of consumer decision-making journey and will also identify why it is important for marketers to understand the consumer decision-making. Also, the report will compare the B2C and B2B decision-making through examples. Lastly, the different approaches to market research along with ways through which marketers can influence the different stages of decision-making journey will also be covered in this report in detail. MAIN BODY Analysis of the stages of the consumer journey For company likeASOSthat is well-known for its best quality products and services in UK had been able to become successful over the years through analysing the below consumer decision-making process followed within the workplace on timely manner. Problem recognition:This is the first stage where the ASOS team members identifies why the consumers would the purchase the company products and what are the current needs of t that needs to be fulfilled in the market. Also, under this stage proper informations is gathered through conducting the market research in the best manner and major importance is given on the sales and marketing efforts for the same Information search:this is where the consumers that wants certain goods of the company search about the information related to the goods either offline through stores or through online website of cited firm (Lynch and Barnes, 2020). Moreover, the most common methods used by the firm is through the word of mouth for the store visitors. Furthermore, company is also concern over the website SEO optimization so that company products results in top searches Alternative evaluations:Under this stage the consumers after collecting the data compares the products with that of the competitors so that rational buying decision than might be made. Also, ASOS with team members focuses on convincing the customers that their products. Purchase decisions:This is the main stage in consumer decision-making process where the consumers after collecting all the facts and conducting market research makes the purchase decision through arriving at logical decisions. Also, in this stage consumers mind could not be
influenced or changed by the ASOS as the purchase decisions is made final and could be changed only in exception cases. Post purchase evaluations:This is the last stage where sellers identified whether the consumers are happy with the purchase of the certain products or not. Also, it helps in identification the areas of improvements so that better products might be offered to the customers in future to increase the sales of the business. Thus, each of these stages helps the firm to identify and provide goods that are high in quality and specifications so that certain needs of customers could be met in timely manner. Identification of the factors that influence the different stages In the current era it is very important for the marketers to map the journey of the customers as it helps in identification of each touchpoint of importance where the customer experience might be maximized. Furthermore, mapping such kind of journey allows ASOS leaders to gain the insights about how personalize customer experience might be provided throughitsvariousproductsorservices(Goldsmith,GriskeviciusandHamilton,2020). Moreover, in ASOS such type of mapping have helped in benchmarking various work so that success of the firm could be easily measured. Furthermore, it helps the firm to understand the differences in buyer personas as they move from the prospect to buying funnel. Thus, the mapping of consumer journey allows the marketers to create the logical order of buyer journey so that best methods and techniques in production than might be applied within the workplace to ensure the maximum efficiency Also, it can be said that in ASOS company that is working in highly competitive market and is facing stiff competition from other marketers it is helpful that this decision-making journey would allow in best marketing of the products in target market so that maximum sales could be generated in the future. Moreover, retail market is highly competitive and hence better understanding of decision-making process would help the marketers to compares the current products with that of competitors so that certain modifications than might be made. Also, marketers are able to research about various product options so that the same might be added within the existing product line (Schamp, Heitmann and Katzenstein, 2019). Also, customer journey map is able to influence the decision-making as marketers through this are able to build empathy towards the customers' so that repeated purchases could be made in the future. Furthermore, it helps ASOS to optimizing the customer journey through building more brand
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awareness and highlighting the best things about the products' so that more potential customers might be added towards the business. Thus, it can be said that marketers establishes those moves that are different from others through analysing various factors that influences consumer decision like social, technological, political etc. and also allows in remaining focused on developing programs that would generate more profits in the future (Dellaert, 2019). Also, one of the best example is development of various loyalty programs and up gradation in the mobile app so that more offers and discounts would attract large number of people towards the company products and services. Thus, in short it can be said that to build the stronger customer relationships and to attract greater sales it is very important to analyse each customer touchpoint carefully so that competitive advantage is maintained and also the firm is able to sustain in market for longer time period. Critically evaluating the different forms of market research by comparing and contrasting the B2C and B2B products and services (decision making process) The consumer decision-making process mainly help in understanding with gaining proper alternatives as to evaluates the decisions taken by the consumers for purchasing the products of the company (Mishra, Singh and Koles, 2021). The decision-making process in the B2B and B2C, the consumer decision-making process mainly includes 5 stages which helps the company in serving the products according to the consumer needs as for satisfying the wants with properly evaluating. B2C decision making processB2B decision making process In the B2C decision making process mainly includes in Selling the products directly to the consumers.TheASOSestablishedasthe onlineretailerforSellingwiderangeof fashion products. With using this model the companyistakingfeedbackfromthe consumerastoimproveitsservicesfor serving and catering their needs by addressing all the latest trends and demands (Qin, Peak, and Prybutok, 2021). The decision making Business to business decision-making mainly includestakingthedecisionsasfor purchasing the products and services from the other business. With this business model mainly helps in growing and improving the businessperformancebySellingproducts andservicestogainthemarketgrowth (Panwar and et.al.,2019). As the businesses mainlytakesthedecisionsbasedon evaluatingtheneedsandcomprisingthe
process mainly includes by recognising the needs. Example:ASOSismainlyofferinglarge images and establishing good headlines as for Selling the products direly to the consumers with using online platform for Selling wide rangeofproducttotargetmarketand retaining loyal consumers. Thus.B2Cmodelrequiredhighlevelof competition , this impacts the company which tendstoshifttheconsumerstoother companies for fulfilling needs with switching for obtaining products. availablesourceswitselectingthebest supplier for obtaining low cost products and services. Example: If ASOS doing business with the another company, the company must sell its range of fashion products to another business as to retain the market image. Further more, ASOS for entering into the new market as for serving its services by establishingtheonlinestoresasby collaboratingwiththeotherbusinessfor reaching the new target market. Thus,thedecisionmakingprocesswhile doing B2B is more complex in nature than the B2C, as negotiating and working with the otherbusinessasformaintainingand working for gaining equal benefit. Thus, The different factors which mainly influencing the buying behaviour of the consumers influencing the prices, culture, personal factors and perception.The company must ascertain all the factors as for producing the product with increasing the sales of the products sold by ASOS. Evaluating the element of marketing mix which influences the decision making process as supporting with examples The decision making process of the consumers mainly aims in identifying the decision by ingathering the information as for taking the best alternative solution for increasing the sales of the products produced by the company. Different approaches used by the company as for understandingthedecisionsmakingprocessoftheconsumersincludesthequantitative, qualitative and the mixed approaches (Achary and et.al., 2018). The qualitative method is mainly used as for analysing the individuals beliefs, perceptions, expectations and the attitudes while purchasing products from the business as to fulfil needs and wants with taking right decisions.
Whereas the quantitative method of researching mainly helps in analysing the consumer decision making patters by using the statistical analysis as for defining the needs which helps in defining the consumer behaviours for purchasing the products. With operating as the B2C business mode, ASOS company must opt for using the qualitative researching methods which helps in understanding the decision making of the consumers. By using this, it helps in ascertaining for producing the quality of products and services. This result in building relations with the consumers by establishing the consumer relationship model with taking regular feedbacks of the products and taking surveys by asking a reviewing the comments and taking opinions. This results in providing great opportunities to ASOS for producing products for serving large consumers market by using online platform. While operating the B2B business model, the company can use the quantitative methods which helps in understanding the number of willing companies available in market as for working and operating the business and entering by expanding the new opportunities. This mainly helps in focusing on increasing sales for earning revenues by using the quantitative method. The marketers mainly influences the stages of the decision-making process in the B2B and B2C business contexts. As in the B2C process the marketers of ASOS influences the decisions of the consumers with researching the consumer which are purchasing the products frequently (Martín-Consuegra and et.al., 2018). As for choosing various products from the wide product ranges, the market of the company mainly influence the decision-making of the consumers by effective displaying the products images and describing in detail abut the products being displayed at the website. In ASOS the markets are mainly displaying range of products with specifying the different brands as for targeting the consumer for producing the best fashion products under one roof by Selling online. Further more the marketers also influences the decision of the consumers regarding the prices. The company in mainly producing the quality products at low prices as for retaining the consumers by Selling the best quality products (How Marketing Influences Consumer Decisions, 2022). The marketers are mainly targetting as for Selling the products at affordable prices this helps in Selling wide range of product at low prices. Thus, marketing with using various campaigns and using different products and pricing strategies and using the effective tools helps in marketing and promoting the products.
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In B2B context it can be said that marketers could influence the decision-making through analysing the following elements that are as follows: Place: The company should be very much concern in analysing the factors like the place of distribution and related time and cost involved in it so certain changes than might be made within ASOS. For instance: The firm should analyse the total cost of transportation involved in supplying goods to other business on particular place and should than compares with the competitors' (so) than certain ways could be identified to reduce the overall cost to maximize the profits and positively influence more businessman to buy company products. Promotion:Under this element the marketers need to analyse that what are the best ways through which goods of the company could be promoted within the market. Also, it helps in analysing the methods that could be the best used to influence the decisions making process of the markers (Humphreys, Isaac and Wang,2021). For instance : Tesco developing the poster that specified that on the bulk purchase there would be additional 30% discount on the purchase of specific goods. Thus, such type of promotional techniques usually change the mind of buyers thus enabling more sales of the business. CONCLUSION From the above report it can be concluded that, ASOS is mainly operating as an multinational retailers for serving wide range of fashion apparels. Further more, The different stages helps in taking the decision for purchasing the products sold by the companies. Further more, with comparing and contrasting about the decision-making process mainly helps in providing an insight of the decisions which is used for conducting business in B2B and B2C. This report also provided details about the approaches and methods as of the qualitative, quantitative and the mixed approaches used for identifying consumer decisions. Also the marketers influences the decision-making stages of the consumers based on the product, price, place and promotion strategies used by the businesses as for marketing and promoting the company with increasing sales and earning more revenues for improving growth and market performance.
REFERENCES Books and Journals Mishra, R., Singh, R. K. and Koles, B., 2021. Consumer decision‐making in Omnichannel retailing:Literaturereviewandfutureresearchagenda.InternationalJournalof Consumer Studies.45(2). pp.147-174. Qin, H., Peak, D. A. and Prybutok, V., 2021. A virtual market in your pocket: How does mobile augmented reality (MAR) influence consumer decision making?.Journal of Retailing and Consumer Services.58. p.102337. Panwar, D., Anand, S., Ali, F. and Singal, K., 2019. Consumer decision making process models and their applications to market strategy.International Management Review.15(1). pp.36-44. Acharya, A and et.al., 2018. Big data, knowledge co-creation and decision making in fashion industry.International Journal of Information Management.42. pp.90-101. Martín-Consuegra,D.,andet.al.,2018.Exploringrelationshipsamongbrandcredibility, purchase intentionand socialmediafor fashion brands: A conditionalmediation model.Journal of Global Fashion Marketing.9(3). pp.237-251. Dellaert, B. G., 2019. The consumer production journey: marketing to consumers as co- producers in the sharing economy.Journal of the Academy of Marketing Science.47(2). pp.238-254. Goldsmith, K., Griskevicius, V. and Hamilton, R., 2020. Scarcity and consumer decision making: Is scarcity a mindset, a threat, a reference point, or a journey?.Journal of the Association for Consumer Research.5(4).pp.358-364. Humphreys, A., Isaac, M. S. and Wang, R. J. H., 2021. Construal matching in online search: applying text analysis to illuminate the consumer decision journey.Journal of Marketing Research.58(6).pp.1101-1119. Lynch, S. and Barnes, L., 2020. Omnichannel fashion retailing:examining the customer decision-making journey.Journal of Fashion Marketing and Management: An International Journal.24(3).pp.471-493. Schamp, C., Heitmann, M. and Katzenstein, R., 2019. Consideration of ethical attributes along the consumer decision-making journey.Journal of the Academy of Marketing Science. 47(2).pp.328-348. Online HowMarketingInfluencesConsumerDecisions.2022.[Online].Available through:<https://cooltool.com/blog/how-marketing-influences-consumer-decisions> WhyYouNeedaCustomerJourneyMap.2022.[Online].Availablethrough: <https://www.salesforce.com/ap/blog/2021/04/customer-journey-mapping-explained.html>;