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Process of Consumer Buying Behavior

   

Added on  2020-04-15

19 Pages5168 Words592 Views
Leadership ManagementProfessional DevelopmentHigher EducationSociology
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Running head: CONSUMER BEHAVIOURConsumer BehaviorSubmitted by
Process of Consumer Buying Behavior_1

CONSUMER BEHAVIOUR2Table of ContentsIntroduction.................................................................................................................................................3Company Background.................................................................................................................................3Product description......................................................................................................................................3Target customers.........................................................................................................................................4Consumer buying behavior..........................................................................................................................4Process of consumer buying behavior.........................................................................................................5Impact of individual influenceson the consumer purchase decision process...............................................7Theories of consumer behavior to implement social change.......................................................................8Marketing strategies to influence buying decision.....................................................................................12Product:.................................................................................................................................................12Price:.....................................................................................................................................................12Place:.....................................................................................................................................................12Promotion:.............................................................................................................................................13Targeting strategy..................................................................................................................................13Market segmentation.............................................................................................................................14Conclusion.................................................................................................................................................14References.................................................................................................................................................16
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CONSUMER BEHAVIOUR3IntroductionThis essay discusses the description of Woolworth’s Supermarket and its products. It also illustrates the target customer for their selected product. Along with this, it defines the consumer buying behavior and its process. This essay also elaborates the impact of individual influences onconsumer buying decision towards food products. It also exemplifies two set of theoretical evidence to compare the food product in the Australian market. In the last, it examines the different marketing strategy which may influence the individual factors to take purchasing decision towards food products. Company BackgroundWoolworth’s supermarket is a grocery retail store that was developed in 1924, which headquarteris located in New South Wales, Australia. This company is owned by Woolworth limited. It is analyzed that Woolworths has covered a large part of Australia. After 1924, the interest of the consumer is enhancing to buy the food product from Woolworth supermarket. Further, Woolworths Supermarket has acquired the American giant Safeway in the years of 1985. It is also implemented green apple logo in current business practices (Woolworths, 2017).Product descriptionWoolworth’s supermarket sells a wide range of products and services such as footwear, accessories, food, and cosmetics. For evaluating the purchasing decision of customer, the food product is chosen because if the company will assess the consumer buying decision towards eachproduct then it could take a long time and high cost. Hence, the only food product is selected to assess the buying decision of customers (Woolworths, 2017).
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CONSUMER BEHAVIOUR4Target customersWoolworths can target the customers on the basis of different factors such as psychographics, demographic, behavioral and geographical factor. Under the geographic factor, Woolworth’s supermarket will target the customer who comes to the urban areas within an Australia. As per the demographic variable, the company will target both genders of customers such as female and male because food products are consumed by both of gender. The corporation will also target the 19-29 and 29-39 years of people to gain awareness about individual factor which may influence the consumer buying decision. Woolworth’s supermarket will also target both middle and higher class of people to examine the effects of individual factors on purchasing decision of consumers (Badgaiyan, and Verma, 2015). As per the psychographic factor, Woolworth’s supermarket will target the consumer who gives their preference to shop eco-friendly food products. Consumer buying behaviorConsumer behavior is the study of ways by which a person, consumer, organization and group select, buy, consume and dispose of their belief regarding product and services to meet their desired needs. It is also evaluated that the consumer action in the market could be differed due todifferent underlying motive. It entails the understanding of the behavior of a person and the technique that they employ to select, use, and buy the products and services to meet their needs and desires. There are different factors which may affect the consumer buying decision such as cultural, social, and individual factors (Pappas, 2016). Consumer behavior is defined as the act, feeling and thoughts that a person has or takes earlier or when buying food product from Woolworths Supermarket. Buyer behavior is the concept which develops the understanding regarding how, when, what, and where a person makes a purchase decision. Consequently, the
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