CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY1 Table of Contents Introduction..................................................................................................................................................2 Purpose........................................................................................................................................................2 Development of a Survey Instrument...........................................................................................................2 Administration Processes.............................................................................................................................3 Data Analysis................................................................................................................................................3 Key Findings..................................................................................................................................................5 Conclusion....................................................................................................................................................7 References....................................................................................................................................................8 Appendices.................................................................................................................................................10
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY2 Introduction Samsung Smart TV is a product of Samsung Electronics, which has QLED technology, HDR picture quality, better smart technique, powerful sound, and cutting edge gaming systems. The TV also One Connect Box and almost invisible cable connection which nearly eliminates the tangling cables which come with most of the TVs. The paper will survey 15 participants those who has brought Samsung Smart TV recently. It will critically evaluate perception, motivation, and attitudes of the consumers as well as impacts of individual and group differences, lifestyle, culture and family psychological aspects, and importance of the value proposition on the consumers’ behavior and their buying decisions for the Samsung Smart TV. Purpose The purpose of the survey is to analyze customer behavior and their buying decisions for the Samsung Smart TV.Customer behavior is a research of how consumers buy the products and use and dispose them for the satisfaction of their demands and needs. The marketers expect that if they are able to identify the factors that motivate and lead the customers to purchase Samsung Smart TV. Then they would be able to determine theproductinaccordancewiththedemandsandneedsoftheircustomers. Understanding the customer behavior is one of the significant factors for the marketers. Development of a Survey Instrument The customer behavior and their buying decisions for the Samsung Smart TV will be surveyed by Survey Monkey. It is an online survey tool which offers customizable free surveys that consist of data analysis, consumer or staff feedback, customer-focused marketing, and brand management (Beke, Eggers and Verhoef, 2018). The sample size of the survey will have 15 participants those who have bought Samsung Smart TV recently. It will include ten questions, and they are given below: 1. What is the significance of perception on consumer’s behavior of Samsung Smart TV? 2. What motivates the users to buy Samsung Smart TV?
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY3 3. How are the attitudes of the consumers towards Samsung Smart TV? 4. What are the impacts of individual differences on Samsung Smart TV? 5. What are the impacts of group differences on Samsung Smart TV? 6. What role family has on the consumer behavior on Samsung Smart TV? 7. Does culture affect the customer's behavior towards Samsung Smart TV? 8. Does psychological aspects impact on the buying power of the customers? 9. How the lifestyle of the customers influence their behavior to Samsung Smart TV? 10. What is the importance of value proposition for the customers of Samsung? Administration Processes The age group of the consumers are from 25 to 50 and even older as long as the customer have the capability to buy and utilize the Samsung Smart TV offered in the Australian market (Calder, Isaac and Malthouse, 2016). The age group from 25 to 35 are mostly technology savvy groups. This age group is increasing as the marketers had observed that this group of customers has more expenditure powers in current years in comparison to past years. The age group from 36 to 50 or older makes the most significant portion of the consumer market of Samsung as this group has the maximum capacity to buy Samsung Smart TV offered in the Australian market. This group of consumers will continue to increase in the upcoming years. The 15 participants of this survey will be from these two age groups. Data Analysis In the year 2018, the new GFK data that is a combination of supplied and collected information of vendors, Samsung Smart TV is number 1 brand of TV in all over Australia. It is followed by LG and Hisense, but the reports of Ultra High Definition (UHD) TV places Hisense in the fourth position. The latest information that had been collected over one and half years revealed that inthemonthof November 2018, intheoverall Australian market, 28.1% shares had been held by Samsung, 18.8% shares had been held by LG, 16.2% of shares had been held by Hisense, Sony had 14.4% shares, TCL
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY4 had 5.4% shares and only 4.5% of shares had been managed by Panasonic (Chen, Dwyer and Firth, 2015). In the market of UHD of Australia, Samsung had managed massive 32.5% shares, LG had held 21.9% shares, and Sony had managed 15.3% whereas Hisense had held 13.8% shares on the basis of the quality of the UHD TVs (Fong Yee Chan and Lowe, 2018). Customer Behavior Literature Theory of Reasoned Action -This theory emphasizes its evaluation on the significance of attitudes of the consumers in the process of decision-making. The basic of this theory implies that customers acts on their behaviors on the basis of their intentions to get a specific outcome. In this study, customers are rational factors who chose to take actions in their best interests. In accordance with this theory, specificity is vital in the process of decision-making (Holbrook, 2018). A customer only acts specifically when the specific result is equally expected. Since the time the customers take decisions to act until the time the actions are finished, the customers have the capability to change their mind and take decisions for different actions. Through this theory, the marketers, while marketing a product to the customers, must connect the purchases with a positive outcome, and that outcome needs to be specific. Secondly, this theory reflects the significance of influencing the customers through the sales strategy. The marketers have to identify that the long gaps between the initial intentions and the closing of the actions allows the customers to have ample time to take themselves out of the acquisition or investigate the consequence of the purchases (Huanget al., 2018). Engel,KolletandBlackwell(EKB)Model-ThistheoryexpandstheTheoryof Reasoned Action, and sets out a five-phase method which customers utilize while purchasing. The first phase is input, where the customers engage most of the materials of marketing observed by them on newspapers, TVs, or through online (Kim and Lee, 2015). After the customers collect the information, they move towards the processing method of information where the customers make a comparison with the inputs with the past expectations and experiences. Then the customers move towards the phase of
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY5 decision-making after thinking and selecting to purchase on the basis of their rational insights. In the phase of decision-making, the customers are influenced by different external factors and variables, which includes the ways the consumer visualizes themselves after purchasing. Under this theory, the marketers have two phases. During the initial phase ofinformation,themarketersneedtoprovideadequateinformationregardingthe products to the customers to motivate them for keeping the products of their companies under consideration for buying (Kimet al., 2016). The second phase is the phase of external factors where the marketing becomes an essential factor. As for example, the products of lifestyle are extremely good at instilling desires inside the customers so that they feel or look the product in a positive way, even if the goods do not substantially differ from their competitors. Key Findings The 15 participants in the survey have recently bought Samsung Smart TV from the market of Australia. They are mostly tech-savvy and have the capacity to purchase Samsung Smart TV offered in the Australian market. The key findings of the survey are as follows: Perception- In the survey, 7 of the participants are very satisfied, and eight are satisfied with Samsung Smart TV. It shows that the perceptions of the consumers of the product have a strong influence on their buying power. Proper marketing planning and implementation can influence the behavior of the clients (Oliveira-Castro and Marques, 2017). It is the impulse that convinces the customers to purchase the specific product from the market. Motivation -6 of the respondents, are extremely interested, seven are very interested, and two are somewhat interested in buying the Samsung Smart TV. It implies that customers are motivated to buy the product and act on their behavior on the basis of their intention to get a specific outcome (Park and Kim, 2016). Attitudes -10 participants have better attitudes, and five have about the same attitudes towards the product. Customers with a better attitude have higher chance to purchase
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY6 the product (Park, Kim and Kim, 2017). On the other hand, customers with about the same attitude will be in hesitation whether to purchase the product or not. Individual Differences -In the survey, seven respondents are always influenced, one is usuallyimpacted,andfivearesometimesinfluencedbyindividualdifferences.A person's profession is an important factor while considering the buying power of the consumers. An individual's job directly affects the purchasing of the products. Age also influencesthepurchasingdecisions as ayoungcustomer willbuy thetech-savvy product, and the older customer will purchase a useful and decent product. Group Differences -10 participants are always impacted, and five are usually affected by the group differences. A group might consist of friends, family, relatives, colleagues and neighbors. They might influence the buying decisions and powers of the consumers (Perakakis and Ghinea, 2017). Role of the Family -8 of the respondents have strongly agreed, six have agreed, and one has neither agreed nor disagreed the role of family on the customer behavior and buying decisions of the product. A married person will show more tendency to buying a useful product for himself and his family compared to an unmarried person. Family is a crucial factor while considering the buying decision and power of the consumers (Shavitt and Cho, 2016). Culture -8 have agreed, and seven have not agreed on the fact that culture affects the purchasing behavior of the customers while buying the Samsung Smart TV. The aspects of culture also influence the buying decision and power of the consumers. All the consumerhavedifferentculture,status,habits,ethicsandmorals.Higherstatus consumers will buy an expensive product. On the other hand, lower status consumers will spend less money on costly products (Shin, Hwang, and Choo, 2015). Psychological Aspects -While buying the Samsung Smart TV, 6 of the participants have approved that psychological aspects always affects the buying power of the customers.Fivehaveagreedthat it usually influences and four havesaidthat it sometimes impacts the buying power of the customers. Attitudes and perceptions are
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY7 thepsychologicalaspectsoftheconsumers,andbothfactorsimpactthebuying decisions and power of the customers (Younget al., 2017). Lifestyle -7 out of 15 respondents have said that lifestyle affects a great deal to the purchasing decisions and power of the customers of Samsung Smart TV. Lifestyle is a significant aspect while taking decisions to buy a product. The consumers might not be of the same age and may not have the same income to buy the same product. Samsung Smart TV is an expensive product and ranges from $7,999 to $14,999 (Yu, Hong and Hwang, 2016). So the customers those who have the capacity to buy this product have purchased it. Value Proposition -7 participants have agreed that a value proposition is extremely valuable for the customers of Samsung Smart TV. Three of them have said that it is very valuable and 5 of them have approved that it is somewhat valuable for deciding the purchasing decisions and power of the customers. Value proposition increases the accessibilityofthecustomerstowardstheproduct.Itisapositivefactorwhich encourage the customers to buy the particular goods from the markets. Conclusion The paper surveyed 15 participants those who has brought Samsung Smart TV recently. It critically evaluated the perception, motivation and attitudes of the consumers as well as impacts of individual and group differences, lifestyle, culture and family psychological aspects and importance of the value proposition on the consumers’ behavior and their buying decisions for the Samsung Smart TV. The surveyed showed that almost all the participants are satisfied after purchasing Samsung Smart TV. Therefore, it is seen that while buying a particular product from the market, they are affected by several factors.
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY8 References Beke, F.T., Eggers, F., and Verhoef, P.C., 2018. Consumer Informational Privacy: CurrentKnowledgeandResearchDirections.FoundationsandTrends®in Marketing,11(1), pp.1-71. Calder,B.J.,Isaac,M.S.,andMalthouse,E.C.,2016.Howtocaptureconsumer experiences:Acontext-specificapproachtomeasuringengagement:Predicting consumer behavior across qualitatively different experiences.Journal of Advertising Research,56(1), pp.39-52. Chen, N., Dwyer, L., and Firth, T., 2015. Factors influencing Chinese students' behavior in promoting Australia as a destination for Chinese outbound travel.Journal of Travel & Tourism Marketing,32(4), pp.366-381. Fong Yee Chan, F. and Lowe, B., 2018. Product placement practices in prime-time television programme in Hong Kong.International Journal of Advertising,37(6), pp.984- 1009. Holbrook, M.B., 2018. Essay on the origins, development and future of the consumption experienceasaconceptinmarketingandconsumerresearch.QualitativeMarket Research: An International Journal,21(4), pp.421-444. Huang,C.H.,Lings,I.,Beatson,A.andChou,C.Y.,2018.Promotingconsumer environmental friendly purchase behaviour: a synthesized model from three short-term longitudinalstudiesinAustralia.JournalofEnvironmentalPlanningand Management,61(12), pp.2067-2093. Kim, K.Y. and Lee, B.G., 2015. Marketing insights for mobile advertising and consumer segmentation in the cloud era: AQ–R hybrid methodology and practices.Technological Forecasting and Social Change,91, pp.78-92. Kim, M.K., Wong, S.F., Chang, Y. and Park, J.H., 2016. Determinants of customer loyaltyintheKoreansmartphonemarket:Moderatingeffectsofusage characteristics.Telematics and Informatics,33(4), pp.936-949.
CONSUMER BEHAVIOUR AND MARKETING PSYCHOLOGY9 Oliveira-Castro, J.M. and Marques, R.S., 2017. Temporal Discounting and Marketing Variables:EffectsofProductPricesandBrandInformationalReinforcement.The Behavior Analyst,40(2), pp.475-492. Park, J.H., and Kim, M.K., 2016. Factors influencing the low usage of smart TV services by the terminal buyers in Korea.Telematics and Informatics,33(4), pp.1130-1140. Park, J.H., Kim, Y.B., and Kim, M.K., 2017. Investigating factors influencing the market successorfailureofITservicesinKorea.InternationalJournalofInformation Management,37(1), pp.1418-1427. Perakakis, E., and Ghinea, G., 2017. Smart Enough for the Web? A Responsive Web Design Approach to Enhancing the User Web Browsing Experience on Smart TVs.IEEE Transactions on Human-Machine Systems,47(6), pp.860-872. Shavitt, S., and Cho, H., 2016. Culture and consumer behavior: the role of horizontal and vertical cultural factors.Current opinion in psychology,8, pp.149-154. Shin, D.H., Hwang, Y. and Choo, H., 2015. Smart TV: are they really smart in interacting with people? Understanding the interactivity of Korean Smart TV.Behavior & information technology,32(2), pp.156-172. Young, I., Reimer, D., Greig, J., Meldrum, R., Turgeon, P. and Waddell, L., 2017. Explaining consumer safe food handling through behavior-change theories: a systematic review.Foodborne pathogens and disease,14(11), pp.609-622. Yu, E., Hong, A. and Hwang, J., 2016. A socio-technical analysis of factors affecting the adoption of smart TV in Korea.Computers in Human Behavior,61, pp.89-102.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser