HNBS 327 : Consumer Behaviour & Insight Assignment

Added on -2021-02-21

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HNBS 327 CONSUMERBEHAVIOR AND INSIGHT
TABLE OF CONTENTSREPORT 1 – Learning Outcome 1.................................................................................................1Introduction............................................................................................................................1Decision making process of Buyers.......................................................................................1Models....................................................................................................................................1Mapping of decision-making procedure of buyers.................................................................2Levels of customer decision-making.....................................................................................3Factors impacting decision-making........................................................................................3Conclusion..............................................................................................................................4REPORT 2 – Learning Outcome 2 and 3........................................................................................4Introduction............................................................................................................................4Comparison between B2B and B2C decision-making...........................................................5In what manner research of market differs between B2C and B2B.......................................5Impact of self, motivation, customer perception and personality on decision-making..........6Cognitive and Behavioural methods to customer knowledge................................................6Impact of culture and other relevant factors on consumer behaviour....................................6In what manner buyer behaviour is understood to influence decision-making process.........7Use of digital audience research progresses to comprehend and change customer behaviour7Conclusion..............................................................................................................................8
REPORT 1 – Learning Outcome 1IntroductionCustomer satisfaction should be the prime goal of every organisation as it assists indeveloping long term connections with the users. The decision making of buyers is one of thecore aspects where business needs to understand in order to provide them with appropriateproducts and services. The present report is going to discuss the consumer decision makingprocess. The chosen business for the report is a restaurant establishment named as Ledbury. It issituated in Notting Hill, London and is known for its unique French food (Javornik, 2016). Therestaurant's capacity is 70 covers at a time. The report is going to outline models of decisionmaking which is implied by buyers and factors influencing decision of consumers. Along with it,the levels of consumer decision-making are also explained in the below report. Decision making process of BuyersThe decision making of buyers is a process in which the marketing department ofLedbury identifies and tracks decision-making journey of the buyers from start point to finish. Itis determined by both psychological and economic factors and is influenced by environmentalfactors including cultural and social values. ModelsEconomic View: Under this approach, the customer is seen as a rational thinker. Thismeans that the customer tends to compare different products, evaluates its advantagesand disadvantages etc. This model is considered not realistic as people are seen to belimited by existing values, habits, skills and perception and often they are not alwaysbalanced when it comes to make a purchase decision. Passive View: This explains that the customers take decisions from the promotionalefforts made by the marketers and directly responds to the advertisement appeals andsales offered by the marketers (Dwivedi, 2015). This model is opposite to theeconomic model and it assumes that the people are going to evaluate a product whichis depending upon in what manner it is positioned and promoted in the market. Cognitive View: This is seen as one of the best models among all the four ones.Under this approach, it has been identified that customers tends to make decisions as1
per their own understandings and interests of the market demand and not as per thepromotional efforts and rational needs. Emotional View: This approach states that all of the buyers tends to make theirpurchase decisions on the basis of emotions. It is because most often customers tendto feel attracted towards a services or products provided by a consumer (Biswas andRoy, 2015). This allows them to buy a product or service as per their attraction. Mapping of decision-making procedure of buyersLedbury is launching its new pasta preparation known as “Twisted Lasagna”. Therestaurant before launching the dish will map out the customer process of decision-making.Below mentioned are the steps and in what manner the establishment is mapping it successfully: Step 1:Need/Problem Recognition: In this step, the restaurant is going to identify theneed of the products in the mind of the customer. Understanding this is going to allow therestaurant to go ahead with the process of launching the dish in the restaurant. Most oftenthe needs are identified when a customer observes something that he requires of seeks asa desire or a wish. This tends to satisfy the customer and helps the seller in achievingprofitability and business growth. Step 2: Information Search: Information search allows the customer to look for theinformation about the products or service which he/she is in a need of. This is often doneby a customer with the help of personal (peers, friends, family etc.) and commercial(radio, television, newspapers) sources (Zhang, 2015). It helps the customer to look forrelevant information. From appropriate promotion and marketing of the product therestaurant is going to provide the appropriate information to its customers. Step 3: Evaluation of Alternatives: By collecting information from a variety of sources,the customer is going to evaluate the disadvantages and benefits of a variety of productalternatives. Along with it, the customer is going to develop a choice on the basis ofquality, quantity, attribute etc. of “Twisted Lasagna” as per the personal requirements,preferences, lifestyle personality etc. Step 4: Selection and Trial: From keeping the set of choices in consideration thecustomer is going to make the trial of the new product. The quality, taste, and mostimportantly the perception of the customer would evaluate if he/she is going to choose to2

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