Consumer Insight and Behaviour: B2B, B2C and Market Research Analysis

This report delves into consumer behaviour, focusing on the distinctions between B2B and B2C decision-making processes, and how these differences impact market research strategies. The report evaluates the influence of personality, self-motivation, and customer perception on the decision-making process, providing insights into how these factors shape consumer choices. It identifies both behavioural and cognitive approaches to learning, offering a comprehensive view of consumer learning processes. Furthermore, the report examines the impact of cultural and other external factors on consumer behaviour, and explores how organizations leverage buyer behaviour to influence decision-making in both B2B and B2C contexts. The use of digital audience research development to understand and influence consumer behaviour is also analysed, providing practical applications for businesses like STARK restaurant, which is used as a case study throughout the report.

CONSUMER INSIGHT
AND BEHAVIOUR
(PART-2)

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Compare and contrast differences between B2C and B2B decision making processes..............1
Evaluate how market research differs between B2B and B2C...................................................2
Analyse how personality, self motivation, customer perception impacts decision making
process.........................................................................................................................................2
Identify behavioural and cognitive approaches to learning........................................................3
Evaluate how culture and other factors impact the consumer behaviour....................................3
Identify how organisations uses buyer behaviour to impact decision making process within
B2B and B2C..............................................................................................................................4
Use of digital audience research development to influence and understand consumer
behaviour.....................................................................................................................................4
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Consumer behaviour is associated with selection, buying, using and disposing goods,
ideas and services so that needs of customers can be specified in a proper way. It involve the
action of customers within marketplace and different motives behind those actions (Bereznoy,
2019). This report is based on STARK which is a small restaurant in England,UK. This report
will include differences between B2B and B2C decision making process. Different factors and
approaches which influence decision of customers are mentioned. Also, use of digital audience
research development to impact consumer behaviour is discussed.
MAIN BODY
Compare and contrast differences between B2C and B2B decision making processes
Main goal of a company is to increase their revenues and profitability by enhancing sales
of product and services. In this regard, STARK uses B2B approach for the organisations and
B2C approach for their customers. These two approaches will benefits the business companies in
grabbing attention of customers in an advantageous manner. Difference between these are given
below:
B2B B2C
 In business to business, selling of
services and goods takes place between
two organisations or business entities.
 In business to customers, companies
such as STARK sold their services and
goods to different customers.
 In B2B, targeted customers are other
companies and main focus is given on
sustaining a strong relation between
both parties.
 In B2c, the targeted consumers are End
users and here main emphasize is given
to the quality of product and service so
that high sales can be attained.
 This process do not require mass media
communication as personal contact of
sales person helps in selling the product
to the potential buyers.
 This process require large number of
individuals and communication
channels like social and digital media
to implement their B2C strategies.
 Here buying decision is logical and
planned. It is based on the need of
 Buying decision is based in emotions
and requirements of customers.
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product or service. Here, brand value is
created with the help of mutual relation
and trust (Gargiulo, Natale and Russo,
2015).
Creation of brand value takes place
with the help of promotions and
advertisements.
Evaluate how market research differs between B2B and B2C
B2B is referred to those transactions that takes place between two different businesses in
order to sell products and services. B2C is defied as those transactions which happens among
businesses and their customers. The manner in which market research of B2B and B2C differs is
defined below:
B2B market research
This is the procedure where market insights are explored with the help of sample
representations and surveys of participants. Here, companies buy commodities form other
organisations so that they can satisfy their purpose. It help the firms in acknowledging latest
trends, cost acquisition etc. This market research will benefits STARK in gaining required
information of customers and their rivals (Lilien, 2016). This will benefit them in getting
opportunities so that demands of markets and customers can be fulfilled along with achievement
of organisational goals.
B2C market research
This research is carried out by business organisations so that latest trends that are needed
by customers can be acknowledged. This will help them in satisfying the desires of customers in
a proper manner. In these market research, different questions are asked to consumers about
services and products offered by companies. It will benefits STARK in identifying the demand
and needs of people by understanding their opinion. By this restaurant can ensure that their
dishes and services are able to satisfy their customer in a desired way.
Analyse how personality, self motivation, customer perception impacts decision making process
Influence of customer perception, self motivation and personality on decision-making of
customer is mentioned below: Personality: Companies are required to understand the needs of consumers while
offering them products and services as different customers have varied requirements.
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Two factors that can impacts the decision making process of consumers are openness and
agreeableness. In openness, consumer tends to purchase product due to innovative
features. In agreeableness, past experience of customers with product helps in
acknowledging satisfaction (Shih and Ke, 2014). Perception of consumers: It acts as psychological variable in decision taking procedure.
Different opinion and perception of consumers have different impact on decision making.
For instance, in case of STARK perception of one consumer can be to eat spicy dishes
whereas perception of another customer will be to eat healthy food.
 Self motivation: When customers praises the services and products offered to them, they
get encouraged to buy them again and again. This will benefits STARK in achieving
desired sales and revenues.
Identify behavioural and cognitive approaches to learning
Consumer learning is defined as the procedure where customers are given knowledge
about purchasing of products and services. In context of STARK, there are two approaches of
consumer learning which are mentioned below:
Behavioural approach
This is a learning theory which is based upon resultant behaviour rather than process
orientation. It is of two kinds i.e. instrumental and classical conditioning. Former focus on trial
and error process along with habits that can impact customer;s behaviour.
Cognitive approach
This approach defines that customer learning is a difficult and complex procedure. In
cognitive approach, customers are given knowledge about new products on regular basis so that
their knowledge and learning can be improved (Zhang, and Benyoucef, 2016). It is a difficult
approach as giving information to customers along with motivating them to enhance sales is a
complex task.
Evaluate how culture and other factors impact the consumer behaviour
There are several factors that can impacts the behaviour of consumers. Some of these
factors are stated below: Cultural factor: These factors are associated with belief, preference, value and taste of
consumers that impact their behaviour for service and product purchase. People of
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different region have different culture. For example, in UK people prefer to eat spicy
food whereas in France, people prefers to eat non-spicy food. Social factors: It involves perception and belief of person in accordance with their
occupation, education and income. These factors can influence individual behaviour in a
considerable manner as people have different preferences and behaviours. For example,
some people identifies different aspects before purchasing a product. By this, they
became able to acknowledge if they want this specific product or not (Parsons, Maclaran
and Chatzidakis, 2017).
 Economic factor: These factors are related with income, liability, saving and assets of
individuals which influences decision making and purchasing behaviour of products and
services. For example, if people will have high income they will spend more money in
buying food from STARK whereas if people have less money then they will not buy
products of STARK on regular basis.
Identify how organisations uses buyer behaviour to impact decision making process within B2B
and B2C
Individuals and organisations have same purchasing behaviour and that impacts their
decision making process in a considerable manner. Companies are require to determine
purchasing behaviour of business and consumers so that high sales and revenues can be achieved
in a profitable manner.
Purchasing process of consumers: The purchasing behaviour is related with market
analysis. This analysis is essential to understand purchasing behaviour of customers and impact
it posses on market share and profit of firm. So, the concerned restaurant STARK is needed to
analyse behaviour and market trend with services and products provided by company to
customers (Wlömert and Papies, 2016).
Product specification analysis for target business owners: Business organisations have
their own procedure for purchasing products. Individuals or organisations are required to
determine different aspects like cost, market trend and advantage of buying new product. It is a
formal process where purchase of products is based upon the specification of product. Business
organisations knows their needs and buy products in accordance with that.
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Use of digital audience research development to influence and understand consumer behaviour
It is very important for business organisations to acknowledge influence of digital
audience in present world. It is vital to take decisions about designing elements that can impact
customer behaviour. The managers in STARK needs to assure that decisions taken by them will
positively impact the mindset of customers. Some of digital audience research developments
that will assist managers of STARK to properly understand consumer behaviour are discussed
below:
Social media: This tool will benefits the company in collecting the feedback of
customers about their services and products. This will benefits the business owner of STARK to
carry out required modifications (Labrecque and et. al., 2013).
Website of company: Here organisation can share about their offers, discounts, new
added dishes and menu. This will help the customers in understanding what STARK will provide
them and in which amount. In this regard, company is required to create an interactive website
that will be able to grab attention of customers desirably.
These tool will benefit company in enhancing their sales and profitability.
CONCLUSION
Form above mentioned report, it is concluded that major objective of a business
organisations is to increase their sales and revenues. It can be attained with the use of social
media and other alternatives such as official website. B2C and B2B are market approaches that
helps in influencing consumer to buys services and products of firm. These approaches can
influence purchasing behaviour of customers in a desired manner.
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REFERENCES
Books and Journals
Bereznoy, A., 2019. Catching-up with supermajors: the technology factor in building the
competitive power of national oil companies from developing economies. Industry and
Innovation. 26(2). pp.127-157.
Gargiulo, C., Natale, A. and Russo, L., 2015, October. Smart community for the smart
governance of the urban environment. In 2015 IEEE First International Smart Cities
Conference (ISC2) (pp. 1-6). IEEE.
Lilien, G.L., 2016. The B2B knowledge gap. International Journal of Research in Marketing.
33(3). pp.543-556.
Shih, T. Y. and Ke, S. C., 2014. Determinates of financial behavior: insights into consumer
money attitudes and financial literacy. Service Business.8(2). pp.217-238.
Zhang, K. Z. and Benyoucef, M., 2016. Consumer behavior in social commerce: A literature
review. Decision Support Systems.86. pp.95-108.
Parsons, E., Maclaran, P. and Chatzidakis, A., 2017. Contemporary issues in marketing and
consumer behaviour. Routledge.
Wlömert, N. and Papies, D., 2016. On-demand streaming services and music industry revenues
—Insights from Spotify's market entry. International Journal of Research in Marketing.
33(2). pp.314-327.
Labrecque, L. I. And et. al., 2013. Consumer power: Evolution in the digital age. Journal of
Interactive Marketing. 27(4). pp.257-269.
Online:
Difference Between B2B and B2C. 2019. [Online]. Available
through :<https://keydifferences.com/difference-between-b2b-and-b2c.html>.
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