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How do retailers influence consumer behaviour?

   

Added on  2021-01-08

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STUDENT NAME:STUDENT ID:MODULE NAME: CONSUMER BEHAVIOURMODULE CODE:WORD COUNT:15001 | P a g e

TABLE OF CONTENTSHow do retailers influence consumer behaviour?......................................................................3The Model of Buyer Behaviour.............................................................................................34P’s of Marketing Influence on Consumer behaviour...........................................................4The Four Ps Model.................................................................................................................4Studies on retail stores...........................................................................................................4Factors influencing consumer behavior.................................................................................5Buyer's Decision making........................................................................................................5What are some of the key cultural differences between consumer behaviors?..........................6Cultural Factors......................................................................................................................6Total marketing strategy........................................................................................................6Social class.............................................................................................................................6References..................................................................................................................................82 | P a g e

How do retailers influence consumer behaviour? Consumers purchase various products and services, and multiple factors influence their buying decisions. The focal point of retailers is mainly to influence consumers' buying behavior. There are mostly three stimuli that influence consumer behavior. The marketers' marketing stimuli, collectively known as the 4P's of marketing, affect the decision of the buyer and their behavior.The Model of Buyer Behaviour It is essential to have a clear understanding of how the consumers react and their buying patterns to fulfill their needs for a more profitable business. The business should not only offer excellent products and services but should be aware of the factors that influence consumer behavior to fulfill their needs. There are several models of consumer behavior; such are economical, psychoanalytical, and sociological (Kumar 2019). The economic model focuses on satisfying the basic needs of the consumers within a desirable price range. This psychoanalytical model emphasis consumer behavior has an influence by society on consumer behavior. Moreover, the products and services need to be appealing to consumers to encourage them to buy it. The social environment, competing products, and brand marketing strategies play a pivotal role in influencing consumer behavior. Hence, it is essential to understand the sociology and psychological functioning of the consumer groups and not only focus on the physical attributes of products and services in the retail industry.Image Attribute: The figure above displays the environmental stimuli, which is the 4P’s of marketing (Product, Promotion, Place, and price) along with cultural, social, and economic, and technological, factors that affect the buyer’s responses and consumer behavior in the retail domain. 3 | P a g eTHE ENVIRONMENT Marketing stimuli OtherProduct Economic Price Technological Place Social Promotion Cultural BUYERS BLACK BOX Buyer’s characteristics Buyer’s decision processBUYER RESPONSE Buying attitudes and preferences Purchase behaviour

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