Factors Influencing Consumer Behaviour: A Case Study of Unilever
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This report assesses the success of Unilever in applying its understanding of factors that influence consumer behaviour to market its products. It discusses the major factors influencing consumer behaviour, including psychological, cultural, and personal factors.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 How successful is Unilever in applying its understanding of factors that influence..............3 consumer behaviour to market its products?..........................................................................3 Factors influencing Consumer Behaviour..............................................................................3 CONCLUSION................................................................................................................................4 REFERENCES................................................................................................................................5
INTRODUCTION Consumer Behaviour is meant by aggregate of emotions, attitude, preferences, actions, etc. associated with buying and selling products and services. For instance, it is considered by business organisations in order to develop and implement suitable and appropriate strategies. Moreover,businessorganisationsconsiderconsumerbehaviourtowardsacquisition, consumption, disposal of goods and services, etc. Unilever Plc is a leading business organisation engaged in manufacturing and supplying consumer products into global market(De Mooij, 2019). This report assessment will be comprised of essential knowledge of factors influencing consumer behaviour. MAIN BODY How successful is Unilever in applying its understanding of factors that influenceconsumer behaviour to market its products? Shiffman's Framework of Consumer Behaviour This framework analyses and determines factors that affects and influences decision- making of consumers with reference to purchasing of products and services. For instance, it facilitatesin designing and developing efficient strategiesin order to carry out efficient marketing operations and activities. Moreover, it suggests consumer undergoes highly rationale and systematic decision-making process. Furthermore, it also determines a specific consumer decision-making with various stages which are as follows: Input:It includes messages and information shared by companies and acquired by consumers in society for efficient decision-making. Perceptual and learning constructs:It includes needs, preferences, and personal goals of individual which facilitates in change in consumer behaviour. Output:This stage is further result of previous steps taken into consideration. For instance, it results in consumer’s initiative or action towards purchase of products and services in consumer market. Factors influencing Consumer Behaviour Consumer Behaviour is influenced through various sources and aspects which determines decision-making in terms of purchasing and consuming products and services offered by various business organisations into consumer market. Therefore, major of these factors are as follows:
Psychological Factors Psychological Factors are determined as personality of an individual that limits or strengthens thinking ability or manner. For instance, it is comprised of factors and aspects that are related to mental ability of an individual including motivation, perception, beliefs and attitude, etc. which results in influencing decision-making of consumer(Mou and Benyoucef, 2021). Important and major psychological factors are: ï‚·Motivation:Thisaspectofindividualsmajorlyinfluencesindecision-makingof consumer. Unilever have been initiating immense efforts towards motivating consumers towards their products and services with improvising and enhancing quality of products offeredintoconsumermarket.Moreover,withefficientmarketingpracticesand contributing efforts towards betterment of quality results in consumer satisfaction. ï‚·Perception:Customer perception plays a major role in influencing consumer behaviour. For instance, consumers in market collects information and knowledge about the products and services in the market which results in develops a meaningful image of brand or products offered by brand into consumer market. Furthermore, efficient marketing practices is recommended to business organisation in order to ensure a positive consumer perception. ï‚·Learning:This aspect is determined as a process taken into account by customers in order to acquire information and knowledge regarding future purchase of products and services. Therefore, it plays a major role in influencing consumer behaviour towards purchase of goods and services. ï‚·Attitude and Beliefs:Consumers in society are oriented with different attitude and belief towards different products and services offered in the market. For instance, it facilitates in development of a image in consumers mind regarding the same. Cultural Factors Cultural differences around different geographical locations determine various changes in buying behaviour of consumers for same product or service offered in another geographical locations. Moreover, these could be defined as values and ideologies of a group or community of individuals(Haugtvedt, Herr and Kardes, 2018). There are various factors and aspects of cultural that facilitates change in consumer behaviour which are as follows:
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ï‚·Culture:It is majorly comprised of various cultural factors which influences consumer behaviourinpurchaseofaproductorservice.Forinstance,itincludesneeds, preferences, perception, values, etc. which results in change in culture in people of different geographical location. Therefore, these differences in culture among people in society results in change in buying behaviour of consumers. ï‚·Subculture:This could be defined as a element of culture which makes up a culture in society. For instance, these subcultures are comprised of people residing in society with different caste, religion, beliefs, etc. The buying behaviour of these customer segment often influenced with consideration of various concepts and aspects. ï‚·Social Class:It is determined as segmentation of consumers in society on the basis various classified social class. For instance, every society is comprised of people living in different social classes which majorly influences buying behaviour of consumers towards products and services. Furthermore, people in different social class are oriented with approaches with reference to purchasing of offering from businesses in consumer market. Personal Factors These factors are determined as individual characteristics that leads to change in buying behaviour of a consumer. Moreover, these factors often vary for different individuals according to their personal preferences and perception towards goods and services offered in the market (Mothersbaugh, and et. al., 2020). Major of personal factors are as follows: ï‚·Age:Buyingorpurchasingpreferencesisdifferentamongpeopleofdifferent demographics which results in change in consumer behaviour. ï‚·Income:It is referred to pocket allowance of a consumer in buying certain products and services.Forinstance,peoplewithlowincomefacesproblemofaffordabilityin purchasing goods and services. ï‚·Occupation:Profession or occupation contributes in change in buying behaviour of consumer. In addition to that, people purchase products and services according or relevant to their profession or occupation. ï‚·Lifestyle:It refers to way of individual carrying out his daily routine life. For instance, consumers with different lifestyle often observed with different buying behaviour. The respective organisation is efficiently successful in understanding of factors and aspects that influences customer behaviour towards purchasing various products and services into
consumer market. Unilever is one of the leading companies all around the globe which deals in manufacturing of food as well as necessary consumers products. In order to serve people with differentbuyingbehaviour,companyhasintroducedenormousnumberofproductsinto consumer market. CONCLUSION From the above assessment it could be concluded that, respectiveorganisation is successful in understanding of factors and aspects that consumer behaviour towards purchasing and sales of goods and services. Moreover, psychological factors, cultural factors, and social factors are determined as major factors influencing consumer behaviour.
REFERENCES Books and Journals De Mooij, M., 2019.Consumer behavior and culture: Consequences for global marketing and advertising. Sage. Haugtvedt, C. P., Herr, P. M. and Kardes, F. R. eds., 2018.Handbook of consumer psychology. Routledge. Mothersbaugh, and et. al., 2020.Consumer behavior: Building marketing strategy. New York, NY, USA: McGraw-Hill Education. Mou, J. and Benyoucef, M., 2021. Consumer behavior in social commerce: Results from a meta- analysis.Technological Forecasting and Social Change,167, p.120734.