Table of Contents INTRODUCTION...........................................................................................................................2 Explain and analyse the stages of the consumer decision making journey for a given product/service.............................................................................................................................3 Explain why it is important for marketers to map a path to purchase and understand consumer decision-making...........................................................................................................................4 Evaluate how marketers are responding to the decision-making process, applying relevant concepts and models....................................................................................................................6 Compare and contrast the key differences of the decision-making process in the context of B2C and B2B, providing specific examples................................................................................6 Evaluate the different approaches to market research and methods of research used for understanding the decision-making process in both B2C and B2B contexts..............................8 Evaluationofhowdifferentfactorsinfluencedecision-makingandbuyingbehaviour, supported by specific examples...................................................................................................9 Evaluate how marketers can influence the different stages of the decision-making process of B2C and B2B, giving specific examples.....................................................................................9 Critically evaluate how marketers influence each stage of the decision making process with reference to relevant methods and models applied....................................................................10 CONCLUSION.............................................................................................................................10 REFERENCE.................................................................................................................................11
INTRODUCTION Consumer behaviour is the study of individuals, groups and companies which can help to operate the business by offering kind of products and services. This is important for all organisationtounderstandtheneedsoftheircustomersandmanagestheorganisational profitability by satisfying them. This helps to know how consumers are reacting, emotions, attitude and give preference to their products which can increase the organisational sales and profitability in changing environment (Gilal and et. al., 2020). The management is responsible to understand the needs and values and attitudes of their customers and provide them kind of products which can attracts them and increases the business performance. This reports is based on River Island that is high street fashion brand, operating business in world wide market. This was founded in 1948, by Bernard Lewis in London, UK. The management of organisation plays important role and control over all activities and performance in order to attain the business goals. This report covers ability to map path, appropriate forms of research that influences decision making process and marketers influences different stages of decision making process of B2C and B2B. Explainandanalysethestagesoftheconsumerdecisionmakingjourneyforagiven product/service In the market, consumers are the actor who plays many role in business environment that starts from information provider, thinking about products, user to the payer and to disposer that can help to make the effective decisions. The management should have strong bonding with customers so they can evaluate the needs of people and make efforts to offer kind of products and services. For example, River Island is larger size fashion retailing company that offers products and clothing to customers and increases the performance. The customers wants to buy new clothing according to trend so it make the buying decision after analysing process that are as:
Illustration1: Buyer buying decision process, 2017. Source: Buyer buying decision process, 2017. Need recognition –This mainly involves customers who need a products and services which is analysed by observing that can help to make the right business decisions. If a person has analysed their needs and get to know how their wants will be satisfied which can affect the market and business activities. For example, people have identified that they wants new design and trend of clothing which can help to make right business decision and increases customers wants regarding products and services(Moschis, 2019). Information search –Once people is well aware about their problem and needs then it is required to solve it by gathering number of information. In this stage, people who have identified their needs started to collect the information. For example, people are getting information regarding different brand in clothing such as River Island, JD Sports, Primark and Mark and Spencer that can help to select the right brand and products by getting information for all and their delivery regulations. Evaluation of alternative –As customers have collected the number of information regarding different brands and their designs of clothings that can help to select the right option out of them. For example, people goes River Island's websites and check the reviews regarding products and services which are providing by organisation. This can help to collect the right information about brand, quality and latest design that can be useful to select the items.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Purchasing decision –This decision is undervalued as part of marketing which is required to focus by consumer before making any decisions. People who have identified needs and collected the information regarding products make a buying decision which can help to select the right decision. In this, customers have selected the River Island to buy the latest design and better quality of items that has provides to satisfaction in evaluation. Post purchase –This stage is related to buying the products after making payment which can help to increase the business performance of River Island and satisfy the customers as they share positive reviews to organisation(Roy, Datta and Mukherjee, 2019). Levels of consumer decision making : Routine problem solving:This level states little involvement and response of customers in selection process as they are stick with one brand. For example, customers make quick decision to buy the products which are related to basic and daily uses items. Limited problem solving:This level states moderate involvement of customers in selecting the items and purchasing process is shorter than others. For example, customers have many brand to buy branded clothes and cosmetics. There, customers who have evaluated market have selected River Island to select the best quality and design if clothes. Extensive problem solving:In this, high level of involvement of customers are showing where they take much time to select the high cost of good such as cars, laptops, mobiles etc. which uses to solve extensive problems. Explain why it is important for marketers to map a path to purchase and understand consumer decision-making. Consumer journey is defined as visual representation of customers path that can help to state the story of people's experience for products which they have used and increase the brand image. In all activities marketers if playing an important role who analysis the market and get what people wants so kind of product can provided which increases performance. Mapping a path is a strategic approach that uses by management of River Island to better understand customer expectation and face difficulties to optimise customer decision making. The importance of consumer path mapping are defined as: To ascertain the customer perception –mapping a path is important for marketers as it can help to evaluate the customer perception and increases the organisational productivity. For
example, marketing management of River Island is set the customer's perception regarding buying a products that can help to take the right decisions(Kizgin and et. al., 2020). This allows organisation to optimise customer on boarding process –For making right business decision and mapping a customer journey is important that allows marketers to optimise customer on boarding process and increases the satisfaction level. In River Island, marketers maps the path for increasing sales and delivering right products. To fill the customers demand –The main aim of path mapping by management is to understand needs of customers and fill them by offering better design and quality of products. This activity is performing by management of River island by analysing market trend and customer's expectation so products and services can be provided accordingly and increases the profitability. Illustration2: Diagram of Maslow need Hierarchy. 2020 (Source: Diagram of Maslow need Hierarchy. 2020) Description of some factors are uses by marketers to influence decision making process
Heuristics –This factor is related to mental shortcut where people make decision and be influenced by their current emotions. For example, if a person is demanding some specific product as it is highly attached with brand then marketers should understand and make efforts to provide. In context to River Island, marketer understand the mental connectivity of customers regarding brand and products which influences consumer's buying decisions(Di Vita and et. al., 2019). Marketing mix –This is a marketing strategy that covers product, price, place and promotion in order to influence customers. Whenever, products are launched by organisation then marketer is a single person who provide all information about products that influence to make decision. In River Island, marketers uses different sources and promotional channel to provide information about price, product and place that increases business performance. New technology:In changing environment, it is important for management to use new technologywhichcanhelptoincreasesalesbysatisfyingcustomers.InRiverIsland, management uses e-tailing online transaction and E- bay that can help customers to buy products in less time(Moran and et. al., 2020). Factors that influences consumer decision making process Cultural:This factor is related to culture, values, tradition and beliefs that should be consider while running a business in relation to consumer. The consumer influences from this factor as River Island is considering this factor and provide different culture of products and accessories which can help to increase the sales and satisfy them. Social:This refers as a problem which faced by individuals in their society while buying the products and services. For example, the management of River Island analysis that people are price sensitive so organisation is providing product on affordable price that encourages them to make buying decision (Roy, Datta and Mukherjee, 2019). Personal:The relation of factor is childhood experience, education, knowledge, self construal, values, self of control, political and world views that can help to select the right products. The buying decision of customers in River Island influenced as it offers range of products which customers have desired and fill their requirements that make happy. Psychological:This is related to personal perception and insights of people which influenced consumer buying behaviour. The marketing manager of chosen organisation focuses
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
on this factor and ready their mind what they wants which can help to provide them products and services accordingly and increases the profitability. Evaluate how marketers are responding to the decision-making process, applying relevant concepts and models Decision making process is a continuous process which is taken by a person in regards of buying something. This is important for management to build good relation with people and respond them properly which can help to increase organisational sales. For instance, the customers of River Island uses buying process where it firstly identify the problem, recognises them and get alternative and make the buying decision which can help to take the right action and maintain good performance(Phang and et. al., 2019). Compare and contrast the key differences of the decision-making process in the context of B2C and B2B, providing specific examples. In business environment, two activities B2B and B2C are different where B2B refers as business to business sales and B2C stating as business to customer which can help to operate the business and increases the performance of an organisation. Such as River Island is focusing on B2B sales where it sales their products. The stages of the B2B buying decision process Awareness:In B2B Buying process, this stage is uses by customers when they realises theirproblem.Thisissimpleprocessofexperiencingbusinessgrowthwheremarketing management recognises customers demand and generate the leads. In River Island, marketing managers generate leads by recognises customers problem (Stages of B2BBuying Process, 2020). Commitment to change:In B2B buying process, customers fixes the problem and they start to think about budget, timing, availability. The management of River Island address the issue after making changes in to business process that impacts on other areas. Considering option:In this, customers research various option for solving problem by addressing, researches and asking questions properly. In River Island, marketing management considers marketing automation platform that suits their needs and manages the organisational activities(Semaan, and et. al., 2019).
Commitment to the Solution :This states is showing the different options which is adopted by customers to make decision for after researching all options. In River Island, this can help management to complete the desired automation task. Decision Time :This is the process of closing B2B buying process, in which customer need to justify the decision that they are appropriate and valuable. For example, marketing director of River Island take best option and implement marketing automation process which can help to increase performance(De Mooij, 2019). Final Selection:In this, marketing officer make decision and purchases the products as well as services. For example, marketing officer of River Island focuses on excellent customer service and make them happy that leads to repeat customers and referrals. The comparison between B2B and B2C decision making process BasisB2BB2C MeaningThis means selling of products and services between 2 business and enterprises. This means selling activity between businessandcustomersthat maintain sales. Relationshipwith customers This builds personal relationships that drive long term business and leadgenerationStagesofB2B (Comparison between B2B and B2C decision process, 2020). Thisbuildstransactional relationshipsinwhichconsumers pushtoproductsoncompany's websites for driving sales. BrandingThis is part of marketing which comesthroughrelationship building.Thisbrandingstarts with consistency of presentation anddelivertheirproductsand services. Thisisimportantthatallows marketersofdelivermessage precisely,createloyalty,confirm credibilityandconnectwith customersemotionallywhich motivates buyers to buy products.
Audience targetingThismainlyworksinniche marketandimperativeto understandabouttarget audience's demographic. This follows funnel where works at larger scale market where targets are pushingadvertisementthatare skewed towards emotional products. Evaluatethedifferentapproachestomarketresearchandmethodsofresearchusedfor understanding the decision-making process in both B2C and B2B contexts. Market research is important for any business concern which provides the market knowledge and information how customers be satisfied and how brand image of organisation can be improved. For this, approaches and methods are uses by management that can help to complete the task and attain the business goals. In context to River Island, management are using different approaches for conducting research that are as explained: Quantitative Method:This is an approach which is uses to researching the market and managing operations and projects appropriately. This mainly uses in B2B decision making process where it provides decisions by using mathematical and statical data in particular situation which provides right outcomes. Skills audit uses by management that is decision trees and network analysis that helps to portraying the relationships between events and tasks. In River Island, management usesthis method to make the right decision buying process by conducting research and fill the customer's demand(Arora and et. al., 2019). Qualitative Method:This research is related to collecting and analysing the non numerical data that can help to understand opinions, experiences and concepts which increases business performance and attain the profits. This mainly involves collection of data, analytical and statistical which can be uses to make the right business decision process. This mainly uses in B2C decision making process where management uses different sources to collect the data and information regarding their needs, trend and other so products can be provided accordingly. In context to River Island, management collect data by building personal relationship, sharing information and brining changes in their organisational that can help to improve the business performance and attain the business goals(Bauer and Reisch, 2019). Thus, it has evaluated that quantitative and qualitative methods are uses by management of River Island to conduct the research and collect data which can help to provide the right information and support to make decisions. For example, whenever chosen organisation uses
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
quantitative research then it uses decision tree and network analysis that can help to identify problem and start to solve from root that can help to increase the business performance and maintain profitability. On the other side, qualitative research involves one on one interview, record keeping, focus group, process of observation, and case study which can help to deliver right messages and maintain high performance(Ghasemaghaei and Calic, 2019). Evaluation of how different factors influence decision-making and buying behaviour, supported by specific examples From the above it has been evaluated that there are different factors which can be uses by management in order to make the right decision process that supports buying behaviour and attitude of customers. Heuristic factor is related to mental status and their thinking ability which can help to provide the information what customers are thinking and how they can be satisfied. In River Island, marketing officer uses heuristic, marketing mix and new technology which can help to influence customers by providing products according to new trend and fashion. In this, focus is product, price, place and promotion which may satisfy customers in relation to price and quality then they make decisions. Moreover, new technology such as e-bay, e-tailing sales and transaction are uses by business owner that make easy way for customers to select products and place order of buying which influences decision making(Moraes and et. al., 2019). Evaluate how marketers can influence the different stages of the decision-making process of B2C and B2B, giving specific examples. In all organisation marketers are important person who have special knowledge and skill set that uses to inform people and change them in to customers. This analysis of the market and customerneedsaredonebymanagementwhofillrequirementsandcompletethetask effectively. The marketers of River Island influences different stages of decision making process that are as defined: Need recognition:The decision making process starts with sorting the problem. For example, marketers of River Island understand problem of business and customers for selling their products and increases the sales. After knowing problem they become solution which can help to solve the problem. Search process:In this marketers searches engine and past experience which can help to bring the changes and implement plans. In context to River Island, marketers search process and bring innovation which can help take right action.
Evaluating alternatives:This states what will satisfy consumer needs and wants then provide the options accordingly. The marketers of River Island uses this stage for providing different alternatives in providing products and services so they can select best one and feel satisfaction(Ting and et. al., 2019). Selection stage:In this stages, marketers of River Island select the best stage by taking risk and delivering right information that can help to increase the organisational performance and profitability. In this, customers make decision to purchase the products after selecting best one and maintaining good activities. Evaluation of decision:In context to B2B and B2C River Island's customers make decision and evaluate them effectively which can help to improve customer's bad experience in to good and increases the performance. This can help to deliver the good experience and manages the productivity. The marketers of River Island uses different theories to influencing customers such as: Cognitive learning method:This can be defined as learning method that is metal procedure to acquire the information. This states the perception and thinking process of people are different that should be consider by management in selling their products. The marketing manager of River Island can opt the heuristic or psychological factors for influencing purchase decisions of consumers. This also involves cultural and subcultural factors that increases insights to provide the products accordingly. The cultural factor comprises with ethics, preference and decision of customers where as sub cultural involves habits and buying capacity of customers that should be understand by marketing manager in increasing sales. Therefore, management of River Island uses cultural and subcultural factors to fill customer's demand and increase the sales.In such organisation role of leader is to guide their entire team for focusing on complex process and gather information for performing their activities accurately. These leader also plays role of influencer who influence employees and customers for completing their task and improving brand image (Kizgin and et. al., 2020). Behavioural learning methods:This theory is related to learning that depends on response tendencies and experience so people can work and manage the activities. This theory is uses by marketer of River Island to understand the buying behaviour of their customers. If an individual is desiring a product then it will started to collect the information regarding products and services. This theory is showing the relational with marketing mix factor for influencing
consumer decision making where client is gathering information regarding prices, product, place and promotion so they can make right buying decisions. In this, cultural factors are external that influence and motivates individuals to make buying decisions. The role opinion of leader is analysis the behaviour tendencies that is outcome of experience and retain them for further buying decision (Di Vita and et. al., 2019). Digital audience investigation: This defined as target audience population that are considered as ideal customers of brand and helps to increase the organisational sales. The River Island is using this to attracting the target audience by using online sources that can help to gather information and manages the activities. For example, management of River Island is using social media platform and other online marketing strategy that can help to reach by customers and encourage them to buy products. The role of leader is bring new technology and give proper response to consumers so it feel good and make decision to buy more. Critically evaluate how marketers influence each stage of the decision making process with reference to relevant methods and models applied. The marketers influences decision making process by understanding demand and wants of their customers which can help to provide the kind of products and manages the performance. It has evaluated that in changing environmentdemand and taste of customers is changing so they are demanding better quality and design of products from River Island which problem understand by marketers and make plans to introduce something new.They uses quantitative and qualitative approaches for conducting analysis and collect the information that can help to fill the requirement so it this influences decision making process. i.e. the manager of River Island uses behavioural method to understand the beliefs and behaviour of consumer towards new products which they introduces that can help to know how much organisation is earning sales turnover. Cognitive method is used to know mental process of consumer that how will they buy products after conducting proper research which can help to select the right products and services. Therefore, both methods are uses to influencing consumer decision making states and maintain the good performance (Roy, Datta and Mukherjee, 2019). CONCLUSION From the report it can be concluded that in business environment, role of customer is different who increases the brand image and selling activities of an organisation by adopting
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
buyingdecisionprocess.Therearemanyfactorssuchasheuristics,marketingmixand technological factor which influences marketer's decision and increases the organisational productivity. B2B and B2C are two business term that are uses to increase sale by maintaining direct and indirect relationship with customers. Quantitative and qualitative approaches uses to collectdataandskillauditsstatewhatskillscanbeusestomanageallactivitiesand performance.
REFERENCE Books and Journal Ting, H., and et. al., 2019. Consumer behaviour and disposition decisions: The why and how of smartphone disposition.Journal of Retailing and Consumer Services.51.pp.212-220. Moraes, M., and et. al., 2019. Celebrity influences on consumer decision making: New insights and research directions.Journal of Marketing Management.35(13-14). pp.1159-1192. Ghasemaghaei, M. and Calic, G., 2019. Does big data enhance firm innovation competency? The mediating role of data-driven insights.Journal of Business Research.104.pp.69-84. Bauer, J. M. and Reisch, L. A., 2019. Behavioural insights and (un) healthy dietary choices: A review of current evidence.Journal of Consumer Policy.42(1). pp.3-45.\ Arora, A., and et. al., 2019. Measuring social media influencer index-insights from Facebook, Twitter and Instagram.Journal of Retailing and Consumer Services.49.pp.86-101. De Mooij, M., 2019.Consumer behavior and culture: Consequences for global marketing and advertising. SAGE Publications Limited. Semaan, R. W., and et. al., 2019. The influence of gender roles in the drivers of luxury consumption for women: Insights from the gulf region.Journal of Retailing and Consumer Services.51.pp.165-175. Phang, D. C., Wand et. al., 2019. How to derive causal insights for digital commerce in China? A research commentary on computational social science methods.Electronic Commerce Research and Applications.35.p.100837. Moran, D., and et. al., 2020. Quantifying the potential for consumer-oriented policy to reduce European and foreign carbon emissions.Climate Policy.20(sup1). pp.S28-S38. Di Vita, G., and et. al., 2019. Picking out a wine: Consumer motivation behind different quality wines choice.Wine economics and policy.8(1). pp.16-27. Kizgin, H., and et. al., 2020. The impact of social media on consumer acculturation: Current challenges, opportunities, and an agenda for research and practice.International Journal of Information Management.51.p.102026. Roy, G., Datta, B. and Mukherjee, S., 2019. Role of electronic word-of-mouth content and valenceininfluencingonlinepurchasebehavior.JournalofMarketing Communications,25(6), pp.661-684. Moschis, G. P., 2019.Consumer Behavior over the Life Course Research Frontiers and New Directions. Springer Nature. Gilal, N. G., and et. al., 2020. Bygone days and memories: the effects of nostalgic ads on consumer brand resurrection movements.Journal of Brand Management.27(2). pp.160- 180. Online StagesofB2BBuyingProcess.2020.[Online].Availablethrough: <https://www.measuredresultsmarketing.com/6-stages-b2b-buying-process/> Comparison between B2B and B2C decision process. 2020. [Online]. Available through: <https://delio-lm.com/blog/b2b-or-b2c/?lang=en>