Consumer Purchase Decision Doc
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Added on 2020-05-16
Consumer Purchase Decision Doc
Added on 2020-05-16
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Running Head: PROJECT PROPOSAL 1Project Proposal
Project Proposal 2Purpose of the Project The purpose of the project is to identify the effectiveness of the online media in the consumer purchase decision. The present research will identify the consumer behavior, purchase intent and shopping behavior of the consumers working in Charles and Keith. It is a Singapore-based company which sells fast-fashion footwear and accessories to the customers. The company is spread across various countries in Asia, Middle-East, Europe, Latin America and Africa (Charles& Keith, 2018). Research Questions With the advent of internet, several small and medium enterprises have emerged which have increased the competition in the marketplace. In this situation, it is important that the organizations focus on developing strategies which can convert the potential leads to sale (Gordon, 2014). The present research study will examine the impact of brand awareness in increasing the sales of the organization. The research questions of the study will be framed as: What is the impact of online media in the consumer purchase decision?Does online media increase the sales of the organization? Personal Learning ObjectivesThe research project will be beneficial in increasing the sales of organization. The research project will be beneficial in increasing the knowledge regarding the impact of the brand awareness and brand recognition of the organization in the consumer purchase decision. In addition to it, the research will also enhance my research skills. The process of research requires extensive patience and punctuality; therefore, I will practice to engage in extensive labor.
Project Proposal 3Literature Review In the perception of Chen, Teng, Yu, & Yu (2015), in the last decade, the purchase behavior of the consumers have undergone a lot of change. It is considered that the arrival of internet has changed the manner in which the consumers conduct research on the business organizations. In order to make a well-informed decision, the customers can interact with the online chat rooms, forums, or they can visit the manufacturer website for more brand related information. Moreover,the type and the source through which the brand-related information is collected will have a significant role in the purchase decision of the customers. In order to develop efficient brand strategies, the brand managers should identify the usefulness of different types of brand information and the impact of this information in the purchase decisions of the consumers. In thepresent, electronic-word of mouth and third party information can influence the purchase decision of the purchase intent of the consumers. However, Scheinbaum (2012) has suggested that the perceived information exchange in electronic environment as untrustworthy. Some consumers rely more on consumer exchange as itis less susceptible to the commercial motives. The recommendations from the company’s agents which are based on the consumer’s desired utility and functions reduce the search efforts of the consumers. However, if the agents are not believable or autonomous, they can give biased reviews and result in bias in decision-making of the consumers. In addition to it, there are severalinformation sources which are not perceived as trustworthy by the consumers. In the perception of Schivinski, & Dabrowski (2016), today, nearly everyone has a social media account and use social media to share their information. With the growing number of internet users, it has become necessary for the communication managers to understand the online consumer behavior. The consumers are proactively using the social media websites for the
Project Proposal 4information exchange and spending more time on this rather than on the traditional broadcast media (television, radio and newspapers). According to Kubacki (2014) social media sites have transformed the traditional one-way communication and adapted it into multi-dimensional, two-way, peer-to-peer communication. The social media platforms increases the opportunity of the organization to interact with their consumers and consumers to interact with other consumers. Therefore, the business organizations are not the only source of brand communication. The traditional brand communication was controlled by administrators and marketing managers; however, it is now shaped by the consumers. In the views of Huang & Sarigöllü (2014), brand awareness can be defined as the phenomenon inwhich the consumers can recall or identify the brand. The brand awareness is interlinked with thebrand equity. The brand name is an important asset as the consumers can link the brand knowledge with the brand name which results in brand equity. The most significant aspect of the brand equity is that it provides learning advantage for the consumers. While making the purchasedecision, the consumers give priority to the brands about which they have prior knowledge. Therefore, brand awareness can increase the performance of the brand in the marketplace. However, there is little research on the brand awareness of the organization. As per the views of Boone & Kurtz (2015) is significant association between the brand awareness and the consumer decision making. The consumers use the brand awareness as a significant criteria in the purchase decision. A well-known brand is more likely to perform better in the market. There are significantly higher chances that a consumer will select a well-known brand rather than a significantly lesser-known brand. In the present times, there are high chances that the incidental encounters with the brand and the frequency of the encounter will increase the
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