[SOLVED] Business Strategies for General Motors

This assignment examines the business strategies used by General Motors to achieve high-end growth. It discusses the importance of implementing formative approaches to understand customer buying behavior and how this can be achieved through framing a formative business strategic plan. The assignment also highlights the role of techniques such as B2B and B2C marketing, research and development segmentation, and influencer marketing in aiding companies like General Motors to effectively lead towards high-end growth.

HNBS Consumer Behaviour
and Insight

Table of Contents
INTRODUCTION...........................................................................................................................1
Market research differs between B2B and B2C..........................................................................2
Personality, self and motivation, and customer perception influence on the decision-making
process.........................................................................................................................................3
Behavioural and cognitive approaches to consumer learning.....................................................4
Organisation use an understanding of buyer behaviour to influence the decision-making
process within both a B2C and B2B context .............................................................................5
Evaluate the use of digital audience developments to understand and influence consumer
behaviour.....................................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
A consumer is a person who engages in the process of buying goods and services from a
market place. In simple terms they are those individuals who purchases products and services
those are available in the market (Zhang and Benyoucef, 2016). Consumer behaviour is a branch
of study within different types of stages of a consumer are included before they goes through a
process of purchasing goods and services till the end use. In this regard, organisation uses
different types of techniques, ideas, good and services in order to satisfy needs of consumer in
best effective way. Present report has been conducted on General Motors Company which is a
multinational corporation founded in the year 1908 while headquartered in Detroit's Renaissance
Centre. In this report, formative discussions has been made on, stages relating to consumer
decision-making and differences of decision-making in relation to B2C and B2B. Along with
this, various approaches to market research are also covered in this report as to elaborate
effective understanding of decision-making process.
Compare and Contrast the key differences between B2B and B2C decision-making process
It is one of the most important objectives of an organisation to sell their products and
services in an effective way to their end customers. Thus, in order to efficiently accomplish this
objectives organisation take formative advantages of various sales approaches like B2B and B2C
for sale and customer respectively. In this regard, it can be said that consumers holds a power to
formulate decision as to buy a particular commodity. Thus, with the help of different types of
formative approaches organisations can effectively influence wide level of customers as to make
them buy their products and services. Mentioned below there are formative differentiation has
been conducted:
Basis B2B B2C
Buying decision Sales needs logical
investigation, aid of seller and
accessibility of long duration
of time gettable for
intellection. It is mainly
because decision relating to
In this process mainly less
amount of time is required
because in this individual holds
the right of decision-making.
Therefore, in this there is a less
requirement of rationality.
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purchasing of a particular
product and a service has
commercialized purpose.
Marketing strategy decision It mainly not include mass
media but holds most
important necessity of sales
person (Japee, 2015). As, it
serves as an major channel for
building personal contacts.
In this it is a formative
requirement of mass media in
large manner along with
effective relation of social
media in context to B2C
strategies.
Decision related to market size It mainly includes small and
chosen market size.
In this, market size is mainly
large in size along with
geographical appearance.
Identifying needs Behavioural
and cognitive approaches to
consumer learning
In this section, effective
determination of necessary
different requirement within
business strategy is covered.
In order to grab attention of
customer and influence them to
by the same different types of
techniques and medium is
utilized. Some of that mode
includes, advertisement and
various other forms of
marketing techniques.
Market research differs between B2B and B2C
In this, business to consumer referred as an formative transaction in which customers and
firms are directly involved (Difference Between B2B and B2C. 2019). While in the approach of
business to business formative flow of transactions are done in between different types of two
business units. Mentioned below there is an market research in relation to B2B and B2C is done
which is totally different form each other:
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B2B market research
B2B market research mainly include a formative process in which discovering of market
insight is done with the help of survey and sample (Bereznoy, 2019). In Business 2 Business
purchasing of commodities are done for self utilization or purpose. In the sector of B2B research,
different metrics are effectively figured. For instance, acquisition cost of consumers along with
actual need and perception in a market place. While on the other hand, B2B effectively aid
General Motors to get best effective and appropriate data and information related to competitors,
consumer along with formative understanding of company. This approach effectively aid
towards finding different types of market opportunities in addition with numerous form and
measures to tackle threats.
B2C market research
Business 2 customer market research is mainly conducted via consumers. In this section,
different types of formative questions asked from consumers in regard with different types of
merchandises that has been offered by an organisation. Along with this, with help of this
research General Motors can effectively able to figure out actual need and perceptions of
consumers. It will further aid the, to satisfy consumer demands in best effective manner along
with pre determined objectives of an organisation.
Thus, with the help of both of these approaches General Motors can effectively able to
understand current available trend of market place along with actual need and preferences of
customers. With help of this, company can effectively able to offer their product as per the
perception of customers. This will further help them to increase their overall base of productivity
and profitability along with high end growth.
Personality, self and motivation, and customer perception influence on the decision-making
process
This will effectively able to evaluate the formative impact of customer perception, self
motivation and personality on the process of decision making:
Personality:
In this factor, one of the most important focus of an organisation is to effectively
understand their needs and preferences of their customers and formulate strategies and policies to
offer the same products and services as per their desirability. It is certain that every individual
have their own perception and have choices. In regard with this, it is important for an
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organisation to take advantage of two important personality factors that include openness and
agreeableness. Within this, individual try different types of products and services that holds an
attractive features (Zhang and Benyoucef, 2016). On the other hand, in the factor of
agreeableness individual buying behaviour is mainly depend on past experience. In this if a
consumer has positive experience then they are effectively satisfied with a offerings.
Perception of consumers:
As each and every individual have different set of perception form one other. Thus in
order to effectively evaluate best effective techniques and tools it is important for an organisation
to formatively evaluate each and every customer perception. It will simultaneously help an
organisation as it serves as an best effective psychological variable through the formative process
of decision-making. As by evaluating different types of need of various costumers organisation
can effectively able to conduct their decision-making process by focusing on each and every
aspect. For example, in a marketplace there are two different types of customer who have
different perception towards buying vegetables, in which first one wants to buy fresh vegetables
while other one wants the same to buy at minimum price.
Self motivation:
In this factor, a consumer firstly evaluate and look for a particular product of a company
and after reviewing if they get positive responses they will buy the same. This element acts as a
best effective motivation for both customers and company. While, on the same hand if a
consumer is self motivated then they take best effective decision while making a purchase.
Therefore, self motivation acts as an most important factor in the decision-making process of an
individual.
Behavioural and cognitive approaches to consumer learning
Consumer learning is a continuous and a formative process in which proper
understanding of buying and selling perception of consumers is evaluated in a best effective way.
Along with this, this learning includes overall consumption of a product by large base of
consumer. It will effectively help company to understand actual prevailing needs and demands of
consumer base within a marketplace. Mentioned below there some basic certain approaches
related to consumer learning:
Behavioural approach:
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Major focus behavioural approach is mainly based on total number of output and input.
This approach mainly includes two different types of theories which is being described below in
brief:
Classical conditioning: This theory is mainly refers towards a learning process in which
different types of outcomes is generated (Xiang, Magnini and Fesenmaier, 2015). These
outcomes are created form the formative interrelation in between two stimuli with a marketplace.
In this regard, if one of the stimuli is not available then other stimuli will not be able create same
outcome.
Instrument conditioning: In this theory formative link is described in a formative way
that link takes place within stimulus and responses. As per according to the perception of this
theory, it has been evaluated that effective learning out results can be evaluated by taking
advantage of error and trial procedures along with the habit that will impact on certain behaviour
of a customer. With the help of instrument conditioning consumer can effectively able to
increase their learning and can allow themselves to effectively improve their overall aspect.
Cognitive approach: This approach mainly assumes that learning of an individual
include complex mental process. Cognitive approach mainly includes a formative process in
which a customer is exposed towards learning in relation with different types of new offering. It
is done on a regular basis in order to effectively improve their learning. As per the comparison
done against behavioural approach cognitive approach mainly include various form of
differentiated mental process which is related to information. Along with this, it also effectively
focuses towards motivation in order to achieve desired outcome.
Organisation use an understanding of buyer behaviour to influence the decision-making process
within both a B2C and B2B context
Buying behaviour of both business and customers are same that automatically influence
their decision-making process. In order grab attention of customers towards company offering it
is important for an organisation to take advantage of different mode of approaches in order to
influence customer buying behaviour. This will automatically aid business organisations to
increase overall margin more their sales along with increase in their market share. Thus, in order
to influence buying behaviour to consumers it is important for General Motors to use different
types of formative approaches which will simultaneously aid them to increase their overall
efficiency and understanding of customer buying behaviour:
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Buying process of consumers: In order to effectively analyse buying behaviour of
customers it is important for an organisation to appropriately analyse current prevailing market
conditions and focus on understanding customer buying decision as this is the most important
factor that influence on overall growth rate of an organisation. In context with this, in order to
effectively analyse customer buying and stimulate organisational growth it is important for
General Motors managers to analyse current market behaviour of customers.
Product specification analysis for target business owners: It is mainly a formal
procedure in which business organisation mainly stick to their own buying procedures (Shih,
2014). In order to reduce necessary wastage within an organisation work place it is important for
an individual to effectively analyse and evaluate various factors that include, demand, cost and
advantage of new buying. Expected buying behaviour is mainly depend on a their actual match
with product specification. Thus, in order to effectively accomplish organisational objectives and
needs it is important for General Motors to adopt flexible approach while analysing potential
buyer and influence them towards company products and services. This will further help
General Motors to increase their effectiveness and productivity.
Culture and other relevant factors impact on consumer behaviour
Consumer behaviour is mainly related to a formative process in which numerous forms of
activities are included that are mainly related to buying and utilization of different types of
products and services offered by an organisation. Mentioned below there are different forms of
factors which is mainly connected with influence and culture of consumer behaviour:
Cultural factor:
Cultural factors mainly include different types of element within it that consists values
and believes, taste and preferences in relation to a particular area that can effectively able to
provide favourable or an adverse impact on the behaviour of a consumer. It is a fact that there are
different types of culture that prevailed in every region or a geographic location along with this
each and every individual follow different type of culture which is followed by their Society for
head of the family. Thus, in order great success or know the actual behaviour of a consumer it is
important for General Motors to evaluate and understand cultural behaviour that prevailed in a
different location. For an instance, if a person living in a particular area are more concern
towards saving electricity and will generally prefer to use less electric items. While, in a different
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location a person seeks to live comfortably then and may consume more electricity by using
different electric items.
Social factors
In this factor there is a formatted division which is made on basis of income level,
occupation and education of the society or a group (Bereznoy, 2019). Moreover social factors are
also subdivided on the basis of subculture in which different types of individual shared value are
covered. Within this society, there are different type of person consist mainly have certain
differences and behaviour which will further also impact on their actual behaviour in both
negative and positive manner. For an instance before making a purchase this kind of individual
mainly conduct a whole evaluation in a specific physical Store this further help them to think
different perspectives of a product. Thus this will guide them to take decision whether to make a
purchase or not.
Economic factors
Economic factor mainly include different type of elements such as savings, income of an
individual or liability. All these factors effectively influence decision making of an individual
while making a purchase. For an instance, if a person has more savings then and it further
encourage them to purchase expensive products and services. While on the other hand, if a
person have less savings then they will mainly prefer not to buy expensive product or service.
Personal factors
Personal factors are mainly associated with a particular perception of a person that will
effectively influence them to purchase a product or service from a shop or not. In this increment
in age group act as a negative influences that impact on decision making process and buying
behaviour of an individual. For an instance in old age individuals prefer to purchase those
essential commodities which they can use on their daily basis activities. Further for an instance
in a young age youth really prefer to buy those commodities that look attractive and further fulfil
their demands and need in a best effective manner
Evaluate the use of digital audience developments to understand and influence consumer
behaviour
In this modern developing world, it is most essential for an organisation to understand the
formative impact digital audience. This will not only help in sustain for long period of time but
also benefit towards influencing the behaviour of customer in best effective way. It is required
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for General Motors customer relationship manager to effectively ensure that company is
appropriately following all necessary measures to build a strong relationship with their customers
as to retain them for long period of time. Along with this, with the help of best effective
approaches General Motors managers can also able to effectively influence their those customer
who have negative perceptions of the company. Mentioned below there are some digital
audience research developments descried below that will effectively aid customer relationship
manager of company to have better understand of behaviour of their customers:
Social media:
It is one of the most effective digital tool that effectively consist numerous advantages
that will automatically lead towards providing best effective satisfaction to their customers. With
the help of different social media platforms General Motors managers can analyse current
prevailing trend in a marketplace which will will further help them to satisfy their customers
with best. In addition with this, it is also benefit to take regular feedbacks form their consumers
that can be done by measuring consumer review and fulfil their actual preferences. This will
automatically benefit General Motors to effectively understand buying behaviour of their
customers and offer the same.
Website of company:
This medium acts as an one of the strongest and effective platform with the help of which
company can efficiently able to share related information of their company to wide group of
customers (Shankar, 2016). With help of this technique General Motors can easily able to solve
problems and issues of their consumers and influence them towards company products and
services. In addition with this, on the website General Motors can make their customers update
about current information, products and services of company. Thus, it is essential for a company
to design attractive website which will aid them to grab attention of customers in order to
increase company database.
With the help of mentioned above tools General Motors can effectively able to conduct
their activities in research and development segmentation in best effective way and influence
customers towards their products and services which will simultaneously benefit towards gaining
more profitability base.
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CONCLUSION
As per the above mentioned report, it has been concluded that in order to increase
profitability and productivity of entity organisation use different types of techniques that can
effectively able to lead towards high end growth. In addition with this, as to grab attention of
customers and influence those to buy company products and services advantages can be
extracted from B2B and B2C marketing approaches. Thus, it is must for a company to
implement formative approaches which will further help them to effectively understand buying
behaviour of their customers. This can be efficiently accomplished by an organisation by framing
formative business strategic plan which will aid towards high end profitability and productivity.
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REFERENCES
Books & Journals
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Shih, T.Y. and Ke, S.C., 2014. Determinates of financial behavior: insights into consumer
money attitudes and financial literacy. Service Business.8(2). pp.217-238.
Xiang, Z., Magnini, V.P. and Fesenmaier, D.R., 2015. Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal
of Retailing and Consumer Services.22. pp.244-249.
Zhang, K.Z. and Benyoucef, M., 2016. Consumer behavior in social commerce: A literature
review. Decision Support Systems.86. pp.95-108.
Gargiulo, C., Natale, A. and Russo, L., 2015, October. Smart community for the smart
governance of the urban environment. In 2015 IEEE First International Smart Cities
Conference (ISC2) (pp. 1-6). IEEE.
Bereznoy, A., 2019. Catching-up with supermajors: the technology factor in building the
competitive power of national oil companies from developing economies. Industry and
Innovation. 26(2). pp.127-157.
Japee, G. P., 2015. New Ways of Reaching Out to End Users: Retailing. diplom. de.
Online
Difference Between B2B and B2C. 2019. [Online]. Available through
:<https://keydifferences.com/difference-between-b2b-and-b2c.html>.
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