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What Causes Changes in Consumer Behaviour?

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Added on  2021-04-23

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MARKETING 2 Marketing Management Student Details: Date: Marketing Management Student Details: Date: Contents Introduction 2 Factors that cause the changes of consumer behaviour 2 (a) Covid-19 outbreak- 2 (b) Technological adoptions or Digital Transformation- 3 (c) Increase awareness of Health- 4 (d) Changes in Mobility Patterns- 4 Product Paradigms (350 words) 5 Pricing Paradigms (350 words) 5 Place or Channel Paradigms (350 words) 6 Promotion Marketing Communication Paradigms (

What Causes Changes in Consumer Behaviour?

   Added on 2021-04-23

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Marketing ManagementStudent Details:Date:
What Causes Changes in Consumer Behaviour?_1
MARKETING1ContentsIntroduction................................................................................................................................2Factors that cause the changes of consumer behaviour.............................................................2(a)Covid-19 outbreak-......................................................................................................2(b)Technological adoptions or Digital Transformation-..................................................3(c)Increase awareness of Health-.....................................................................................4(d)Changes in Mobility Patterns-.....................................................................................4Product Paradigms (350 words).................................................................................................5Pricing Paradigms (350 words)..................................................................................................5Place or Channel Paradigms (350 words)..................................................................................6Promotion Marketing Communication Paradigms (350 words)................................................6Potential Innovation in Marketing (350 words).........................................................................7Conclusion (250 words).............................................................................................................7References..................................................................................................................................8
What Causes Changes in Consumer Behaviour?_2
MARKETING2Introduction Consumer Behaviour is a type of process that helps in defining the buying patterns of the individuals from their actions and personal consumption. This clearly indicates that from the choices and preferences of the customer is the only way to understand the exact value of customer interests towards the product and service offering by implying some more efforts to ascertain the customer satisfaction values and findings (Yau et.al., 2020). For that matter, it has been recommended by the practitioners that they have to forecast for new paradigms of consumer shopping behaviour.In year 2020, a lot of companies have implemented new marketing strategies and functions (Lai et.al., 2020). At the same time, educators desire to understand how marketing as a discipline and the associated 4 Ps are shaped by the new paradigm. So, in this report, two new product paradigms are going to be discussed in the fooddelivery methods and clothing systems after the people got retrenched in Malaysia. Furthermore, Cause of changes in customer behaviour and potential innovation in the marketing sector is also going to be highlighted here in the context of covid-19 and some other new paradigms and their changes in the region. As there is not doubt in this that in the year of 2020, impact of covid-19 has made a wide a variety of changes in each and every sector and marketing is one of them (Hasanat et.al., 2020). So, all the changes and its impact are going to be described in this report with the main aim analysing the new marketing strategies and techniques that were used by the companies to make their product and services more innovative so that they can attract more and more customers towards themselves after the pandemic of Covid-19.Factors that cause the changes of consumer behaviour There is no doubt in this that 2020 is one of the difficult years in the history that everyone had lived for, and to keep this in mind many of the organisations and companies aretrying to rephrase their marketing strategies in order to cope up with the challenges and other issues that they are facing in relation to the changes in Consumer behaviour. Some of the common factors that are considered as the main cause of change in consumer behaviour are described below in a detailed manner-(a)Covid-19 outbreak- Thelives of people have been deeply changed by the pandemic. Developments have taken place all of a sudden, such as the desire to keep yourself at a distance from other individuals, the usage of goggles, and a reluctance totake public transit (Bhatti et.al., 2020). To some, it's actually enhanced the pace at
What Causes Changes in Consumer Behaviour?_3
MARKETING3which habits that were already beginning to catch on, such as digital shopping, banking, and more, are embraced. Consumer behaviour plays a crucial role in preserving commodity viability and brand credibility. Owing to the COVID-19 pandemic, this has been affected significantly.There have been a variety of major developments in all facets of contemporary culture with the help of COVID-19. Every human on Earth has been infected by the pandemic, and we will never return to the normalcy we formerly knew before COVID-19 (Ting et.al., 2019).The study showed that customers show five distinct purchasing trends, and regression analysis was used to decide which of these patterns could explain the shift in buying patterns.The ratios of survey respondents were equal and balanced among people who worked full-time, those who worked part-time, those who were housewives, youth, and college students and who were between the ages of 15 and 66 (Evangelos, et.al., 2020). Regression analysis presented proof that “Quality” is a significant consideration for product-purchase decisions. It was found, by sectoral research, that gross expenditure caps are only applied to industries other than education. The "independently varying variables" approach aided our comprehension of the degree of effect they have on customer behaviour. Organization was more able to define and incorporate variables that will help their commodity boost revenue if they utilized this approach.(b)Technological adoptions or Digital Transformation- The new pandemic has also expanded people's usage of digital resources in life and enterprise, such as email, social networking, and blogs, in order to remain linked in an environment that is both physically and virtually isolated. With the increased usage of interactive technologies,such as tablets, devices, and internet services, the boundaries between jobs, lifestyle, and social networking have blurred, as well as lines between realms like accessibility, wellness, and finance. In the post-COVID-19 era, both organizations and businesses assume this pattern will continue. Recent customer habits provide us hints on how the public would respond after the pandemic has run its course (Islam et.al., 2017).As a consequence of COVID-19, more people are performing their everyday digital behaviours than just purchasing and dining. Nearly 60% of US internet users in a recent survey stated they were investing more money digitally, with one-third subscribing with mobile devices and one-quarter subscribing to at least one new digital video service. The amount of enterprise and videoconferencing software installs has grown significantly
What Causes Changes in Consumer Behaviour?_4

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