Consumer Behaviour and Insight

UNIT 37- CONSUMER
BEHAVIOUR AND
INSIGHT

Table of Contents
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
P 1 Analysis of the stages of consumer decision-making for cosmetics products.......................1
P 2 Importance of understanding consumer decision-making for marketer................................2
LO2 .................................................................................................................................................4
P 3 Difference between the decision-making process of B2C & B2B........................................4
P 4 Methods of market research use for understanding decision-making process......................6
LO3 .................................................................................................................................................7
P 5 Factors that influence the decision-making process of B2C and B2B..................................7
CONCLUSION................................................................................................................................9
REFERENCES\.............................................................................................................................10

INTRODUCTION
Consumer Behaviour refers to studying the individual's perceptions & thoughts related to
the product or service offered by the company. It refers to the study of individual's, organizations
or groups, includes all the activities that linked to purchase of goods or services, involves
consumer's emotional and mental responses. It is essential as well as important for companies to
study consumer's behaviour prior to launching a product or modifying the product. In order to
gain competitive advantage by creating & retaining the consumer's, organizations must study
consumer's behaviour. An organization can only achieve their objectives when they satisfy
consumer's and fulfil their needs. The present report will highlight the stages of consumer's
decision-making path for L'Oreal cosmetics products(Fatima and Lodhi, 2015). Further, in the
report it is described about the importance of studying consumer behaviour by the marketers.
The differences in decision-making process of B2C & B2B and various approaches to market
research.
LO1
P 1 Analysis of the stages of consumer decision-making for cosmetics products
Consumer decision-making :
It defines decision-making different stages from which consumer undergoes. And it is important
for the marketers to understand it so that they can able know what need is in consumer mind. For
example – if they will understand what are needs of the customers and their demand, superiors of
the company can take decisions according to the needs of the customers.
(Stages) consists :
Need recognition :
Need recognition is a vital factor which shows buying of products and services. For purchasing
any good there is a need behind it. For example a girl name X is going to her sister marriage and
for that she will need cosmetics products and this will bring demand for cosmetics products.
There is a need behind every purchase, nowadays there is lot of demand for cosmetics products
as people go to marriage, event they need beauty products, so they can look better. Need attracts
more when need and price match each other like if Y need cosmetic products, and he gets
product within his budget then need get fulfil(Majid, Sabir and Ashraf, 2015).
Information gathering :
1