Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 P1 Analysis of different stage for the consumer decision making process............................3 P2 Importance of market map to purchase and understand consumer decision-making.......4 TASK 2............................................................................................................................................6 P3 Comparison and contrast between the decision-making process of the B2B and B2C....6 P4 Evaluation of various approaches for the market research that is used to understand the decision-making process in B2B and B2C.............................................................................7 TASK 3............................................................................................................................................9 P5 Evaluation of different stages used by marketer for decision making process of B2B and B2C.........................................................................................................................................9 CONCLUSION.............................................................................................................................10 REFERENCES..............................................................................................................................11 .......................................................................................................................................................12 INTRODUCTION
Consumer behaviour can be defined as a branch for consumers which deals with various stages from which consumer goes to purchase goods or services from the corporation. The main agenda to understand consumer behaviour is to study the group of individuals and organisation that are performing their work in a similar industry.The present report will be based on the TESCO which is a multi-national British retail organisation. They are the third largest retailer of the groceries and general merchandise retailer and its headquarter is situated in Hertfordshire. Along with this the report also highlights on berries which are highly demand by consumers to perform the work on sustainability basis.This report highlights on various stages of consumer decision making process and a path the importance of the consumer path to sale their products and services(Bereznoy, 2019). Further, to understand this effectively the perspective role of marketing officer is selected for this. Comparison between B2Cand B2B to make decision making process and various approaches or methods to make effective decisions. In the last different stages for B2C and B2B will be understand by specific examples. TASK 1 P1 Analysis of different stage for the consumer decision making process Consumer behaviour refers to the study of how individual of customer's, groups and organisation to utilize and select those goods and services that is favourable for satisfying needs and wants of customer's. This refers to the action of the consumers in the market and to undertake various motives for those actions. Some different stages for consumer's decision making process is mention as follow: Need Recognition-This is the first step of the process to make those goods which is conducted by the organisation to understand the needs of goods. Marketers wants to create an imbalance between the consumer's present and preferred status. The main agenda to implement imbalance in the market is to generate the needs for consumer's to buy a product or service(Calder, Isaac and Malthouse, 2016). In context of TESCO they implement need recognition by generating the gap between consumer actual need and desired need. Information search for the product-Another step that is related withthis process refers to the gather and collect the information. In the stage of information search consumer's understand all the needs which are required to purchase a product. TESCO is operating their business at global level. Therefore it is mandatory for them to provide all the essential information about their
product. This determines it helps the consumer's to understand all aspects whether positive or negative about the product. Evaluation of various alternative-Once the buyer determines all the aspects that are essential for satisfying their need and want. After that the process to select and buy the best product is selectedby the organisationto make an appropriatedeal. Price, value of product, need satisfaction are some of the factors on which the consumer's select the best product to consume. In context of TESCO, there are various methods is used by them to promote their product which is based on the review of the consumer's(Gensler and et. al., 2015). Consuming the product-Products which are matched with the needs of the consumer's are selected by them. This statement ensures that TESCO need to manufactures those products that fulfil the criteria of consumer's needs. It is the responsibility of production department to select those products which match with the criteria of consumer's needs and wants. Moreover, it is favourable for TESCO because management is experienced to perform their operations from more than a century. Thisaspectsassist the organisationto make accuratedecisionfor completion of their work. Evaluating purchase decisions-In the present scenario, there are various aspects exist in market which leads the customer's to post their review about their product. Like, social media and website of organisation and feedbacks. Management of TESCO is more focused towards the last stage of evaluating the effectiveness of product. As it leads the organisation to increase their customer's base through making their product according to the needs of consumer's. P2 Importance of market map to purchase and understand consumer decision-making Customer journey map refers to a visual representation of the experience that is shared or exchanged by the organisation and customer's. The main agenda to implement this in a corporation is to define the consumer's experience with the particular brand. In context of TESCO customer's journey map helps the understanding of business from the customer's perspective(Hofacker, Malthouse and Sultan, 2016). Some importance of the market map are mention as follow: Pre-purchase The activity or form of pre-purchase plays a vital role for the consumer's and the organisation. In this phase consumer's states that whether they required to purchase the product or not. In the decision to buy and consumer a product the customer's analysis and evaluated all
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aspect that determine whether it is needed to purchase a product or not.Berries are demanded by customer's at high level. Therefore, with formulation of market map it is for Tesco to develop an estimate idea for the purchase of product in order to meet with customer's demand.(Shih and Ke, 2014). Purchase In the stage of purchase an organisation sale their product to the consumer's. Whereas, the purchase decision is the evaluation of all advantage that increase the value of their product. This is the most important factor for the multi-national organisation such as TESCO because it helps them to interpret all aspects by which it is easy for them to attract more number of customer's to buy their products.Purchase is a crucial step for Tesco because it leads management to sale their products in appropriate manner such as to adopt those methods through which organisation enhances the value of their products. Receive Consumer's decision-making is a complex process as it is the final stage for the organisation and individual in which they exchange their customer's and services. After receiving and selling the products both the parties analysis the quality of their product.To match with the demand of customer's Tesco gather berries from wide range of locations. It results that it is easy for organisation to satisfy demand of customer's in appropriate manner.This determines that if TESCO products satisfies the needs of customer's then it raise the profits for organisation by increasing in the sale of their products. Post purchase Stage of post product refers that it ensure the customer's whether the product satisfies their needs or not. Further, it also helps the management of TESCO to analyse the upcoming demand of their products. It governs that with the post purchase evaluation consumer's analysis whether to purchase or consumer similar product in the upcoming future or not. This is the last stage of the consumer decision-making.In context of Tesco and Berries organisation will be more focused to complete the work as per management process. This results management is able to complete work in effective manner by ensuring that berry production is sustainable in market. All the above mention stages leads the consumer's to purchase the products that satisfies their needs and provides various feedback about the products. Due to this it is also easy for
TESCO to manufacture those products that satisfies needs of the consumer's(Zhang and Benyoucef, 2016). Further in this stage various steps are mention as follow: It enables the customer's and marketer to determine the exact wants or demands of the consumer's from the product. Further, in this stage needs and wants of consumer's explained through the map in order to formulate their products according to the market and buyer expectation. Steps of the consumer's mapping also helps the organisation to analyse the market. So it is easy for them to complete their work in minimum time period by delegating into specific segments. This activities results, marketing department of TESCO control the cost to make a product and its results this is easy for them to satisfies needs of customer's. The present market conditions of UK retail industry is very competitive. Therefore, with the execution of customer's mapping tools. Marketing officer utilise proper tools and techniques to understand the market. This results in reducing the risk from operations that is performed by the TESCO(Joy and Li, E. P. H., 2012). TASK 2 P3 Comparison and contrast between the decision-making process of the B2B and B2C Their are two types of market are exist in market which is B2B and B2C. In present scenario majority of the business's implemented this process to purchase and sale their products or services. Most of the business's operations of TESCO are related with B2C. This determines the products which are made by them are sold to customer's. In present scenario, TESCO is operating their business's at global level. Therefore, it is essential for them to increase the productivity of its operations. Further, in order to implement this effectively marketing team of TESCO considers various aspects that leads organisation to make favourable results. So the decision-making process of a B2B organisation is different from B2C. Customer's journey mapping a business's to make effective decisions to complete their work by making effective decisions to retain their business's at top position in market(Erevelles,Fukawa and Swayne, 2016). BasisB2BB2C Market related decisionsBusinesstoBusinessTheB2C(businessto
transactionisacomplex process. In order to deal with this it is necessary for the firm tosegmentthemarketinto small size. So it is easy for themtoapproachmore numberofpotential customer's. customer) is a wider concept that covers more market area to sale their products. In this it is essential for them to operate their business's at global level. TESCOisoperatingtheir businessatgloballevelin order to increase the sale of their products. Requirement of identificationOrganisationthatoperates theirbusiness'sinB2B industry. Management focuses on the formulation of effective strategies which leads them to completetheirworkin accurate manner. Corporation such as TESCO is operating their business's in the Business to customer market. Therefore it is important for them to predict the needs of customer's by using effective tools and techniques. Decision of purchasingThe decisions to purchase the products from other business's is a complex task.In order to considerthepurchase decisionsvariousbusiness's forms are considered such as prices, products and goodwill of the organisation to sale their product. It involves less time there are various factors present in the market.Thisemphasison various factors that are related with the purchasing decision of consumer's.Thisdetermines variousaspectsneedtobe focused by TESCO to satisfy the needs of customer's. P4 Evaluation of various approaches for the market research that is used to understand the decision-making process in B2B and B2C Retail industry among the overall world is very competitive due to this it is necessary for them to engage their work in market situation. Therefore, it is important for TESCO to complete the research in effective manner. This would helps them to perform their operations according to
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the customer's needs. This activity results it is easy for customer's topurchase those products which are manufactured according to market segment and customer's demands(Lazell, 2016). Both of the business's factors conduct research to complete their work in effectively manner. Therefore the approaches within customer's are mention as follow: Market research approach in B2B-Transactions that take place between the business's to business's is determined by the organisation to engage all aspects which aids the firm to hold top position in market. The business's will focus on several resources such as time, cost and raw- materials in order to increase their business's size. The secondary research is selected by most of the organisation to understand the overall market conditions. Both form of the business's focuses on the market research for increasing the sale of their product. Recorded data in public-Business to business transaction are most of the task that is essential to perform by the organisation that is operating their business's B2B industry. It determines that it is essential for the marketing team to undertakes all aspect that are related with in business's industry. In the process of gathering the data organisation focuses on collecting the information from all the public departments. Moreover, this process ensures that the data which is collected by the organisation involves all aspects which leads the firm to make effective decisions (Fulgoni, 2014). This results, decisions which are taken by management engage employee's to increase their trade activities with in the business's. Public and private agencies-Organisation need to register themselves before entering and starting a business into a particular country. Moreover, all industries focused on various policies which is managed and controlled by them to ensure the interest of local organisation. This helps them to perform their work at global level. In this the firm needs to engage all organisation to register themselves by undertaking all related and relevant facts to operate and expand their business's at global level. Market research approach for business's to customer's approach-Primary research is the main source of the business's. With the implementation of the primary research it is easy for organisation to increasing the productivity of their business's. This determines it increases the efficiency of their product by taking feedback directly from the consumer's. Primary research is essential for the organisation because it leads them to gather fresh and updated data to complete their project in effective manner. Their are various sources are present in the market for
collecting the primary data. So some sources that is used by the TESCO and other B2C organisation are mention as follow:Tele-phone depth interviews-The in-depth interviews refers to the qualitative data collection method in which interviewer and interviewee communicate with each other on phone or through face to face. Further in this scenario it is essential for organisation to transact all information by a reliable method(Lim,2016). Further it is important for TESCO to undertakes various aspects that increases performance of organisation. Sampling method-Their are two methods exist in the organisation by which it is essential for them to complete their work by collecting the data. Probability and non- probabilityaretwomethodsbywhichorganisationcollectsessentialinformation. Further, in this task probability method is selected by marketing team of TESCO to complete their work it helps them to draw meaningful conclusion form the data. In thelasttogatherthemeaningfuland essentialinformationthisisimportantfor the organisation to follow essential principle for completing their work in effective manner. So the marketing team of TESCO follow Pareto principle. This was developed by a well-known economist which is known as Vilfredo Pareto. Principle that are developed by Pareto states that most of the consequences are raised from 20% causes. It determines that most of the business's activities that is performed by organisation relates creates imbalance between the input and outputs of the organisation(Cockayne, 2016). This principle is also known as Pareto rule that is 80/20. TASK 3 P5 Evaluation of different stages used by marketer for decision making process of B2B and B2C Marketingdepartmentofanorganisationorganisesvariouskeyfactorsthatleads management to complete their work in appropriate manner. The key factor to engage more number of customer's by influencing them to make effective decisions. Their are various factors are present in organisation that leads the organisation to make effective decisions for completion of their work with more efficiency and effectiveness. Their are various factors that impacts on consumer decision-making process are included mention as follow: Behavioural theory-The main aim to implement behavioural theory is to understand individual or human behaviour to analyse and understand aspect that is impacting on business.
Along with this management also determines those areas. This helps to make specific decision for performing their work effectively in both cases whether b2b and b2c. In the context of B2B organisation is more focused to understand behaviour of all stakeholders such as supplier, whole-seller and retailer to understand their business's in proper manner. It result with behavioural theory it is easy for management to fulfil needs of customer's in proper manner. From the perspective of B2C, management of Tesco understand behaviour of buyers due to which long term results will be achieved by considering and formulating products as per market needs and consumer behaviour. Cognitive theory-Buyers are the crucial part for large organisation such as Tesco becauseithelpsthemtocompletetheworkinappropriatemanner.Ontheotherside, management is also focused to perform their task in easy manner. With in context of B2B, management will be more focused to perform work on management basis. With the cognitive theory it is easy for management for gathering new information to manage task in proper manner. Within B2C, perspective all the information is easily get to manage data for performing their work according to collected data which is used for storing information for a longer period of time. Economic factor-The most important aspect of the organisation relates with various factors that leads them to complete their work in most effective manner. This factor is the foundation for the purchase decisions for each individual that work with the intention to purchase a product in effective manner. Patterns of buying behaviour-Most of the consumer's prefers those products which leadsthemtoenhancetheirperformancebyunderstandingpurchasingbehaviourofthe consumer's. This undertakes impacts through which organisation ensure the profitability of organisation by increasing their customer's base(Japee, 2015). Functional factor-Marketing team of TESCO essentially complete their work by analysing various factor that leads them to deal with various needs of the customer's. Moreover , this factor is more important to make effective decisions through focusing on buying decisions fo the consumer's.
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Personal factor-In the personal factor majority of the decisions are based on age, occupation, lifestyle and economical status of the organisation. This is the major area that is essential for the organisation to understand impact on the buying decisions of the organisation. Social culture-TESCO is operating their business at global level, therefore it is important for them to understand all factors to complete their work in minimum time period. TESCO understand this factor by determining value in their products. Leaders plays an crucial role in the organisation which leads them to increase their performance of the organisation. For this the undertakes various factors such as enhancing the productivity of employee's through motivating them. In order to motivate the workforce management provides monetary and non-monetary benefits to them. Moreover, due to Brexit the economic conditions of UK is average(Nagengast and et. al., 2014). Therefore, it is mandatory for TESCO to make effective strategy due to which it is easy for them to overcome from the negative impacts of the bad economic conditions. It results the organisational profitability will be increased in effective manner. CONCLUSION In the end by the above mention report it is concluded that marketing plays an essential role in the organisation.Their are various stages such as need recognition, evaluating the alternative, are present in the market that works as a bridge between the customer's and organisation. On other side it is mandatory for organisation to develop a path for better understanding about the organisational product and service. Along with the comparison and contrasting of the B2B and B2C customer's. In the last various approaches in context of consumer decision making is written that helps to understand the market conditions in proper manner.
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