Unit 37- Consumer Behaviour and Insight

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Unit 37- ConsumerBehaviour and Insight
INTRODUCTIONConsumers are known as King. They dominate the overall market as their decision ofpurchasing products depends on needs and taste and preference. Consumer decision is a processof analysing information, searching product, etc. and then making final decision. The process ishighly influenced by various factors that are economic, cultural and many more. Moreover, it iscomplex process which requires systematic steps to be followed. Consumer needs varies withchange in taste and it affect on their choices regarding product.This report will describe stages for consumer decision making. Also, it will discussimportance of consumer decision map for company. Moreover, it will compare and contrastdifference of process in B2B and B2C. In addition to it different approaches for market researchare explained and at last how marketer influence consumer decision making process.P1 Analysis of stages for consumer decision-making journey for food productsConsumer decision-making is a complex process that involves various stages, fromproblem recognition to evaluation of decision of food product. Consumers have different needsin their daily lives and this let them to make different decisions regarding the choice of theirproduct. Depending on consumers' opinion, the decision could be complex about product, as itincludes evaluating and comparing, selecting and purchasing among different available foodproducts. There are basically five steps of decision-making process used by consumers inanalyzing the needs with their consumption.Problem recognitionA decision is taken by when problem is identified. Food Product Company has to identifywhen their target consumer develops their needs. What will betheperfect time to promoteproducts. For example, if consumer ran out with food product then they need to goto the storeand get more. In general, human needs have no limit.Search processEveryone is not expert to know everything around them. In searching phase consumerneeds to search for food products that can fulfil their wants or needs. Here, many people areengaged with in gathering information about product. Consumers generally searches on searchengines for their products but in most cases, recommendation from actual people is preferred.Consumer might buy products depending on their experiences.1
Information for food products can be attained through numerous sources like ads, socialmedia, etc. of a particular product. Through personal sources which includes productrecommendations provided by family and friends. Search process through magazines, radio andnewspapers comes in public sources and experimental sources includes consumers ownexperience of using the food product.Evaluation alternativesAt this stage, consumer analyzes various information about the food product and buy it asper their needs. Various other factors such as, quality, price, etc. are taken into consideration. Forconsumers this process of evaluation can sometimes be difficult, time-consuming, it turns out toquite hard to find best product that fulfil their wants.Purchase stageAfter the sea.rch process and evaluation stage, consumer makes the selection decision offood product which is fulfilling all the criteria regarding the needs and demands of consumer. Itis important stage as consumer makes a final decision based on the review of variousalternatives. Consumers may have had experience with the particular food product.Evaluation of decision.It is the last stage of this process. Most companies tend to ignore this step but this is one ofthe most important stage for food product company that directly affects the future decision-making process by consumer regarding similar product. It reflects experience of consumer. Onthe other hand, good experience can lead to product loyal customers and let them making adecision to purchase the same food product next time.P2 Importance of consumer decision-making map for marketersA representation of Customer experience with the product is the representation is acustomer decision journey mapping. This journey mapping tells a customer’s experience with thefood product from the original usage and hopefully for a long-term relationship. At the first,customers journey seems to be pretty easy i.e. companies offer products and consumers owe it.But once getting into details customers journey are quite complex and come in many forms.Consumers could come Into contact with business in various ways and from many differentinitial points, for example marketing referrals, social media searches, customer service enquiriesand above campaign. Consumer’s behavior had been changed significantly in the recent years.Customers interact with organization through several channels with the help of adaptive mobile2
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