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Consumer Behaviour and Insight

   

Added on  2023-01-09

16 Pages5408 Words93 Views
Data Science and Big Data
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Unit 37 - Consumer
Behaviour and Insight
Consumer Behaviour and Insight_1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1.Analysis the stages of consumer decision making journey of a product/ service..................3
P2. Explanation of why it is significant for marketers to mapping path to purchase &
understand decision making of consumer...................................................................................6
TASK 2............................................................................................................................................8
P3. Compare & contrast the major differences of the decision-making procedure in the
relation of B2C & B2B, along with particular examples............................................................8
P4. Different approaches to conduct a market investigation along with methods which is used
to understand the process of decision making in B2B and B2C.................................................9
TASK 3..........................................................................................................................................11
P5. Evaluation of how marketers can influence the stages of decision-making procedure of
business to business and business to customer along with particular example.........................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
REFERENCES..............................................................................................................................14
Consumer Behaviour and Insight_2

INTRODUCTION
Consumer behaviour is defined as the study of an individual as well as organization
associated with how they choose and services. In addition to this, it is basically a procedure of
identifying action & attitude of people while selecting, choosing or purchasing a particular
product and service. It is important for an organisation to determine the behaviour of customers
as it help in making improvement that has positive impact on sales and profitability of an
organisation (Jain, Khan and Mishra, 2017). Analysing the behaviour of consumers is undertaken
as a beneficial factor for a company which help in identifying customers’ needs and attain
competitive advantage at marketplace. For the present report, Ella’s kitchen is taken into
consideration. The company offer organic baby and toddler food and is established in the year
2006. Its head of office is located at Oxfordshire, United Kingdom. The report will cover various
stages of consumer decision making journey. In addition to this, there will be discussion about
importance for marketers to map a path. Further, compare & contrast key differences of decision-
making process in relation to B2B and B2C along with examples. Moreover, various approaches
to market research and evaluation of how marketers influence different stages of consumer-
decision making process will discuss effectively in report.
TASK 1
P1.Analysis the stages of consumer decision making journey of a product/ service.
Consumer behaviour is defined as an effective procedure that help an organisation to gain
an understanding about behaviour and action taken by customers at the time of purchasing a
product as well as service. In addition to this, it help in satisfying requirements of customers that
leads to increase in brand image and performance of an organisation (Kaur and Singh, 2017). It
is important for higher authorities of Ella’s kitchen to identify the behaviour of consumers so that
they can offer new and innovative product in market that satisfy customers that leads to growth
and success at marketplace. It is a medium size enterprise and is introducing new product range
for babies in order to meet with the demand of people in an effective manner, with the help of
this, the company is able to attract large number of people and attain its objectives and goals
appropriately. In addition to this, it is analysed that identification of consumer decision making
procedure plays vital role in maintaining sustainability at marketplace. The company is recently
Consumer Behaviour and Insight_3

introduced Organic carrot mini puffs by analysing the demand in market. In this regard, the
different stages of consumer decision making process is described below:
Identifying the need of consumers: It is the first and foremost stage of consumer
decision making process. Herein, the company identify the requirement of individual or
customers at the time they purchasing goods as well as services (Tiwari, Wee and Daryanto,
2018). By analysing the needs, the company is able to offer products accordingly that has
positive impact on customer satisfaction. In relation to Ella’s Kitchen, it is important for
company to focus on requirements of mother, parents as what type of food they want for babies
at the time of purchasing. If the entity is able to identify the requirements then it is easy to grab
the attention of maximum number of people in an effective manner.
Source: Consumer decision making process,(2019).
Search for information- This step take place after the needs is recognised and herein
customers start gaining information about product and services that satisfy their requirements or
needs. In regard to this, the consumer will search & collect information about Ella’s kitchen, its
Illustration: Consumer decision making process
Consumer Behaviour and Insight_4

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