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Chinese Consumers’ Decision-making Styles for Domestic and Global Brands : Case Study

   

Added on  2020-07-22

12 Pages4074 Words34 Views
Data Science and Big Data
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Managing Research
Chinese Consumers’ Decision-making Styles for Domestic and Global Brands : Case Study_1

Table of ContentsINTRODUCTION...........................................................................................................................1PROBLEM DEFINITION...............................................................................................................1Background Issues......................................................................................................................1Management Problems................................................................................................................2Research Questions.....................................................................................................................2Objectives....................................................................................................................................3SECONDARY DATA EVALUATION..........................................................................................3The factors which are influencing to consumer decision making...............................................3Examine retention and defection of Chinese consumers towards domestic or global brand......4Consumer decision making styles for domestic and global brands............................................4RESEARCH DESIGN.....................................................................................................................5METHODS USED IN RESEARCH................................................................................................6SAMPLING STRATEGY ..............................................................................................................7EVALUATION OF DATA ANALYSIS .......................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Chinese Consumers’ Decision-making Styles for Domestic and Global Brands : Case Study_2

INTRODUCTIONThis research work explores consumers decision making that is made when buying aproduct that is made by both domestic and foreign brand. The market conditions in China aretypically critical due to constant changes that are there due to increase in the power of variables.This research work will allow reader in understanding as how Chinese consumers are switchingbetween domestic and foreign brands. It will enable users in analysing as how and on what basisthe consumers differentiate between the two different brands (Ailawadi and Farris, 2017).Basically, the customer perception is constantly changing which has to be understood so thatboth foreign as well as domestic brands can increase their effectiveness. Moreover, it isimportant for companies to focus on China as it is one of the biggest market for any industry.The changes that are taking place in the Chinese market needs more attention. So the primeconcern is stated in below: Retention or defection? Chinese consumers’ decision-making styles for domestic and globalbrands”This is a case study based report which will state about all the important facts and figuresmentioned in the research work. PROBLEM DEFINITIONThe core issues which are identified in the research work is stated to be Retention ordefection? Chinese consumers’ decision-making styles for domestic and global brands”.Today, the organisations are concerned with the changes that are taking place in the market. Theconsumers are shifting there preferences constantly and this is impacting companies from foreignas well as domestic realm. It is important for organisations to understand that there are manyvariables which has impact upon the choices that are made by consumer. Background IssuesConsumers are the main element of any organisation strategic plan. Everything which isdone by an company is for the customers who will be buying and consuming their goods andservices. There are many problems and needs that forces people to change their choice ofpreferred product (Collins, 2017). In China at present, there is high level of competition that isgoing on in between domestic and international companies. This is beneficial for consumers asthey get more diversified range of products. To differentiate between the two customers have1
Chinese Consumers’ Decision-making Styles for Domestic and Global Brands : Case Study_3

developed a perception. For international brand they associate, consciousness of fashion andrecreational. On the other hand they perceive local company product as a a cheap, lower qualityand recreational ability. The decision making that is done by consumers is linked with the changes in theirattitude and perception. The behaviour and mentality of customers is appears to impact intentionof consumers as to switch between brands products and services (Morris and et. al., 2017). Theexperience gained after consumption of product sets intention of customers regarding the futurepurchasing. There have been many researches conducted by marketing organisation which havestated 3 points as a primary reason which makes a consumer opt for new product instead ofpreferred one. They are as following:Customer satisfaction after consumption of goodSwitching cost associated Availability of highly attractive alternatives. These are the prime reasons but even they are not the perfect points that forces aconsumer in switching to other goods (Swallow, 2017). Today, people want something whichthey can show as a symbol of status to others. This is one of the reason why there is huge shiftingfrom domestic to international brands. Management ProblemsThe management of companies need to focus on defining issues that are concerningorganisation and its profitability. The managers need to identify and state the issues that areconcerning organisation in a specified manner (Russ-Eft and et. al., 2017). To understand thisresearch questions are framed. They are stated below:Research Questions1. How to maintain retention and reduce defection of Chinese consumers towards domestic orglobal brand?2. What factors are there which are impacting consumer decision making style in for domesticand global brands?3. How to determine consumer decision making style towards domestic and global brands?2
Chinese Consumers’ Decision-making Styles for Domestic and Global Brands : Case Study_4

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