Marketing and Consumer Behavior

Marketing and Consumer Behavior 1
MARKETING and CONSUMER BEHAVIOUR

Marketing and Consumer Behavior 2
Table of Contents
Introduction.................................................................................................................................................3
Company background..................................................................................................................................3
B2b product positioning niche market....................................................................................................4
Practical application of steps in B2B business.........................................................................................5
Recommendations to B2B business.........................................................................................................5
Factors affect the consumer behaviour both in B2B...............................................................................6
External factors....................................................................................................................................6
Internal factors....................................................................................................................................7
B2C product positioning niche market....................................................................................................7
Factors that affect the perception of the b2c customers........................................................................8
Internal factors....................................................................................................................................8
External factors that influence the customer purchase decisions.......................................................9
Recommendations to b2c market...........................................................................................................9
Marketing mix to identify the solutions for both b2b and b2c....................................................................9
Conclusion.................................................................................................................................................10
References.................................................................................................................................................11

Marketing and Consumer Behavior 3
Introduction
The aim of the study is to develop an understanding on the nature and behaviour of the
customer while taking decision. It is very relevant for companies to understand the psychology
of the customer before launching any new product or service sin the market. It can be done by
learning the theories related to the decision making of customer, psychology of the same and the
marketing mix of the business organization itself to gain the marketing objectives. There are
various types of factors that affect the buying decision and behaviour of customer like internal,
external, pricing, etc. the company has to learn the market and then applies theory of product and
service positioning to achieve maximum sales (Van Doorn, et.al. 2010).
A business can achieve success by obtaining sufficient study on the customer behavior. It
can be related to many things like buying, paying, use and also the reuse of the same product. To
study the same, the study will explain the theories related to the customer psychology. It is
collective and individual in nature it can be affected by the environment, perception and
demography. By performing effective research on the same, the company Ace Yewt-ACE-EV
can easily predict the prodct preference and buying frequency of the customers.
The study of customer behaviour comes under the psychological functioning that is
related to the decision making, the motivation of the customers for a particular product, the
perception and attention of any product on the customer’s mind, knowledge and learning of the
same, social influences on the customers, group discussions done by the customers, emotions and
personality related to the products, an attitude of customer towards any product, etc. (Kwak, and
Kim, 2013).
Company background
Ace Yewt-ACE-EV group is famous as they manufacture electronic commercial vehicles
all over the world. The company is an Australian company that deals not only in Australia but
also all over the world. The company is hoping to expand their customer base up to 15000 by
2025. The car is successful as it lower downs the cost by 85%. The emission of carbon by the
cars of Ace Yewt in the environment is less by more than 70% which means very low impact on
the environment (Verhoef, Reinartz, and Krafft, 2010).

Marketing and Consumer Behavior 4
B2b product positioning niche market
Product positioning for b2b market refers to hold a particular and specific position in the
mind and perception of the decision makers. It is not related to the product but to the mind of the
decision makers. To create the same in the mind of the decision makers, there are three things
that must be required by the company Ace Yewt (Kim, and Ko, 2012). They are
 Uniqueness of the products
 Importance to the customers
 Credibility
It refers to the objects and the evidence that a company can fulfil. It is also related to the
consistency of the company to deliver the same. It can be done by getting the clear views of the
customers of the mental impression they have after buying or using the product. The aim is to
find the target customer and then identify what they actually need. The company have to
determine what the customer wants and what the company is selling (Yi, and Gong, 2013).
There are various researched that will help us to let know the positioning strategy for
company Ace Yewt:
Step 1
There are various types of customer who are already well known with the company and
its product and services. They are also familiar with the competitors. The first work is to figure
out the current state of mind of the customers. Then the company have to try to bring unique
products.
B2B target niche market by making map. The map will help the company to determine
each and every attribute that can affect the brand positioning of the product. It will also help to
judge the customers perception for the products. The aim of doing this is to differentiate the
uniqueness Ace Yewt has as comparison to their customers
Step 2
After understanding and differtiate the uniqeness of the company, the next thing is to
analyse the cats that how this uniqueness is relevant to the target customers. It can be done by
asking the questions to the customers directly. It will help us to determine the perception of
customers for a particular thing in the product or brand (Neirotti, Raguseo, and Paolucci, 2016).
Step 3