Consumer Behavior and Insights: Decision-Making for Ford Mustang Cars

This report delves into the multifaceted realm of consumer behavior, specifically within the context of the automotive industry, using Ford Mustang cars as a case study. It meticulously examines the various stages of consumer decision-making, from pre-purchase needs recognition and information gat...Read More

Consumer Behaviour
and Insight

Table of Contents
INTRODUCTION...........................................................................................................................1
Discuss and examine numerous stages of decision making for a particular goods and services.
.....................................................................................................................................................1
P2.An explanation of why it is important for marketers to map a path to purchase and
understand consumer decision making.......................................................................................3
P5) Throw-light on how marketers can influence numerous stages of decision-making process
of B2B and B2C, specify examples............................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Consumer Behaviour is stated as studying customers attitude regarding selecting and
rejecting of goods and services. This assist the company to to sales their sales volume as firm is
able to frame product and services according to their preferences. It plays a significant role as
consumer behaviour is mainly associated with psychology, behaviour and motivations.
Organization invest huge funds in understanding consumer behaviour as it aid marketers to
forecast the buying attitude or behaviour of the customers (Bager and Mundaca, 2017). By
deeply studying the consumer behaviour or customers administration come to known on what
basis client is purchasing the product. This project report is prepared to understand how
consumer behaviour affect their purchasing ability for product and services in the market. In this
current report the chosen products is from automotive industry Ford that is Mustang cars. This
automotive industry is termed to be the wider industry that deals with the design , development
and manufacturing of the cars. The report includes discussion and analysis of stages of decision
making product and services. Focus is done importance of marketers to map a path to purchase.
Numerous model will be studied in context to decision making process. Comparison among
B2C and B2B will be done. Throw-light on factors that influence decision-making and buying
behaviour.
Discuss and examine numerous stages of decision making for a particular goods and services.
In an organization studying consumer behaviour plays a significant role as it aid firm to
understand their selecting and rejecting criteria of product and services. It helps the enterprise to
frame strategies accordingly. In order to attain best results business associates build strong and
transparent relations with potential customers. The purchasing or buying behaviour of targeted
consumer affect the decision-making process of Mustang cars. To satisfy emerging needs of the
potential clients business continuously interact with people in the society.
Consumer decision making stages are as follows :
Pre-purchase: For making a decision regarding pre purchase of goods customer undergo
different level which are as stated as under:
 Need recognition: To increase the sales ratio it is important to first understand the need
and want of the customers (Bruwer and Lesschaeve, 2017). Here, need is stated to be the
most necessary element through which drives influences the consumer to purchase their
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goods. However, to buy product such as, car client before purchasing it examine weather
the product is satisfying the desire wants. They later on make up mind for purchasing it.
In this case customers easily switch to other brand where their needs and wants are
recognized easily. In order to bind therm fore longer time period company design strong
marketing strategies as compare to their competitors.
 Searching and gathering information: In global market after identification of the
demand the consumer the very next stage is inquiring and gathering of the information
regarding the product there are planning to purchase it from the market. The positive and
negative aspects of the car product is studied as well as comparison is done from existing
brands goods dealing in same segments. However, before finalizing the car the client
assemble as much information as they can either from friends, relatives, advertisements
etc. which are affiliated to purchasing of the car.
 Evaluating the alternatives: After gathering the information in context of car the next
stage is examining the available options. Out of the provided information and options
deep examination is done in order to select best option from the pool of options. And
eventually they make up mind for the best options which are available to them in the
marketplace so as to purchase the car (Dabija and Dinu, 2018). However, customers
focus on evaluation of best option which offers them the reasonable price with excellent
services and design.
 Purchase: This is the decision-making stage after the stage of identification of needs,
searching, and evaluation of the alternative. Here the customer makes their mind to
purchase the product. Here the customer will finally identify what they want to buy and
from where they want to buy so that their needs can be satisfied without incurring more
expenditure. In this the actual purchase decision is also made after analysing all the facts
and aspects which the customers will come through in the near future.
 Receive: When the product is in the hand and client is satisfied with the expected
demand then moth publicity takes place. They communicate to other well known about
the product which is ultimately increasing the brand image as well as sales ratio. The
product which is mustang car is of best quality and services and then customers takes
further decision.
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 Post purchase evaluation: In this particular stage final summarization is done whether
the Car delivered them the value of their desire expectations or not which is acquired by
customers by evaluating many aspects (Daunt and Harris, 2017). If the mark is positive
then there are chances that further transaction will take place. If not switching rate of
potential consumer to other top brand will uplift.
 Thus, these are the stages which will help the customer in making their buying decision
for the car so that their need can be satisfied to the full.
P2.An explanation of why it is important for marketers to map a path to purchase and understand
consumer decision making.
Customer are king of the market and both administration and staff members work hard
day and night to accomplish their dynamic preferences, needs, wants and demand in cut throat
competitive world. For Mustang cars consumers are precious assets for business administration
because for them only enterprise are operating their activities on daily basis. In today's world
marketers require to map and understand the consumers decision making process as market king
that is customers are the centers for many marketers in global market place. However, this is
necessary for the marketers to map a path to influence and understand consumer decision making
process. By doing so it is directly concerned to huge profit maximization which is ascertained
that business is going to gain in the up-coming years. By effectively understanding customers
behavior assist marketers in better understanding the buying behavior of the customers. This
directly or indirectly aid them in creating the value of mapping a path to purchase (Erevelles,
and Swayne, 2016). in order to determine the consumer decision journey following factors are
as briefly discussed as under:
Pre-purchase : This is the most considerable factor as here the customer seek to identify
where there is a need of buying the product or not so that the decision regarding the purchase can
be made after gathering all the logical ideas and information related to the products
Purchase: this is the phase where the customer will purchase the product after analyzing
the benefits which the products is going to serve them and the value which the product gives to
the customers. Here the marketer will focus more on the marketing the product in such a manner
so that they can influence the customers buying behavior regarding the products.
Receive: The consumer here finally receives the products in there hand and uses it so that
they can get with the better quality of services and the standards. Here the consumers
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automatically become loyal to the company’s product if the product which they have received is
up to their expectations.
Post purchase: In this stage the consumers experience the products and decided whether
the purchase which they have made is beneficial to them or is not up to their expectation. After
analyzing they decides whether to buy the product in the near future or should avoid the use of
this product (Gao and Bai, 2014).
From the above discussion it can be concluded that above stated are value of mapping a
path that showcase that the customers expect the product when goods undergo these stages.
However, mapping of path assist marketers in numerous ways which are explained as follows:
 This guide them to design the satisfactory product for the customers so that emerging
needs and wants of the customers can be fulfilled. Additionally, strategies can be farmed
to meet their desire preferences in intense competitive world.
 Marketers is benefited by this as it aid in determining and identifying all the mandatory
marketing obligation by considering clients desire preferences and accordingly guide
them to segment the market.
 It helps marketers to cut down unnecessary cost of the product in open market place. It
is possible only by studying consumer behaviors properly. As it will assist the marketer
to take appropriate marketing techniques so that more customers can be attracted towards
the products of the company.
Evaluate how marketers are responding to the decision-making process, applying relevant
concepts and models.
In intense competitive world consumer behavior model assist the marketers to better
understand action of consumers. Along with this it will directly assist them in identifying and
understanding wide range of the variables prevailing in the open market place. However, the
explanation of the consumer behavior have been mentioned beneath :
Economic view or model: In global market this model of consumer behavior sates that
customers being rational while taking best and productive decision in context of purchasing the
goods which is full-filling the demand. Economic view or model is well aware about all the
available alternate options that are present (Gibson and O’Rawe, 2018) .After considering the
cost and benefits client decide to purchase or buy it from the market. Hence, it information
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marketer that client are more loyal and purchase those product and services which provide them
cost benefits along with other benefits.
Cognitive view: Organization implement numerous kinds of model so as to take
productive decision. By doing so administration is able to better understand clients emerging
market demand for the products. It will help them to survive for longer time period in
competitive market place. The decision of the consumer here is based on the gathering of all the
information related to the products benefits and value. It will aid them to gain competitive
advantages against rivalry.
Passive view: By implementing this model effectively marketer can immediately and
easily determine demand of clients. Here, consumer make up mind to purchase the product by
getting influence from promotional activities which are, social media platform, advertisement ,
banners, online marketing etc. In few time gap consumer start reacting directly to the efforts of
the marketer which they have made for the sale of the product.
Emotional view In this the marketers can easily understand the buying behavior of the
customers as the customers in this models react emotionally while buying the products (Hsu
2017). In this the customer do not think whether the product is necessary to them or not but
purchases it due to the emotional attachment.
Therefore, the above discussed model influence marketers to take productive decision.
By this they are able to design the goods and services which are mostly preferred by them. It will
help the enterprise to grow and develop the market more quickly and easily in international
market. It is very important for marketer to deeply examine all the models so to frame tactics
which will assist them to pull large section of customers towards their goods or services.
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P3 Comparison in decision-making process of B2C and B2B.
Business to business marketing refers to practices of marketing among the businesses and
Business to customer marketing is related with a marketing practice for customers. The
marketers in the marketplace have different objectives. Some have the goal of selling the
products to the customers and others wants to sell their goods to the other business concern
(Mohiuddin, 2018). They focuses on best customer service and customer based sales process.
The decision making procedure differs in both type of marketing models. To understand the
decision making process , product car is taken in B2C and other product tyre is taken for B2B.
Important differences in decision making between Business to Business and Business to
customer marketing is given as follows:
Basis B2C B2B
Need recognition In this consumer develop a
need to utilise the product
which is necessary in their
daily lives. In case of car, they
require car to reach to distant
areas.
Here, customers understands
the need of tyre which may be
required in completing the
manufacturing of particular
product or improve the stock
ordering process.
Gathering information In this process customer
conducts research on the
product. In context of car,
information about features of
car, costs of maintenance and
experiences of other
individuals.
After identifying the need
customers begins the process
of collecting data of tyres
through different sources of
sellers, social media and
channels of distribution
(Tiwari and Daryanto, 2018).
Evaluation of options In this process, customer finds
out the best option available.
In car product they will
compare various features like
prices, quality, speed, colour,
In this process the customer
compares the different sources
of products. Through the
collected information customer
compares the prices of tyre, its
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and features. durability, substitutes and
warranty.
Assessment of evidence In this stage, customer
examines the best car by
assessing the collected data.
On the other hand, in this step
the buyer evaluates the
gathered data about tyre from
all the available suppliers
(Morales and Lee, 2017).
Selecting an alternative Here, customers decide which
car to be purchased and from
where with proper estimation
of risk factors.
After exploring the options for
tyre customer will finally
select it and then verify the
payment alternative.
Implementing decisions At this stage, the customer
finally visits the car showroom
and purchase it from the
company.
In this process, buyer finally
purchases the tyre product
from the seller and make
payment as decided by both
customer and seller.
Evaluation In this process, the purchasing
is finally completed. Marketers
determine whether the car
satisfied the need of the buyer
to engage the customer in its
product for long time.
Determination of good and bad
experiences of the client is
necessary to make product
attractive and long lasting in
the market (Samoggia and
Riedel, 2018).
With this process, the sale is
ultimately completed.
Marketer evaluates the buying
decision of the customer and
determines the changes which
can be adopted to gain
competitive advantage.
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P4 Evaluation of the various approaches to market research & different methods of research
utilised for understanding the B2B and B2C decision-making process.
Market research assists the businesses in gathering information about carrying particular
business activities in the marketplace. It aids in making proper planning and devising decisions
by understanding the needs and wants of the customers, discovering the issues in the business,
changing trends in the market, discovering new opportunities and determining the reason for
selecting the other competitor's products by the customer. There are various kinds of research
approaches applied by the marketers to make out the purchasing decision taken by the customers
in B2B and B2C. They are explained as under:-
Surveys- It is conducted by analysing small targets groups through the use of
questionnaires containing the information of the product. There are different types of surveys
through which data can be collected. Some of them are In-person survey, telephone survey, mail
survey, online survey,etc. For instance, in case of B2B, the marketers uses the In-person survey
as their customers are other businesses and are less as compared with B2C (Nguyen and Dullaert,
2018). In B2B the marketer can receive quick response about the users of tyre products through
samples and advertising. Through the feedback they may consider the factors like price, quality
and idea of stock. In case of B2C , online surveys will be beneficial to gather data by managing
costs and time. Large response can be collected to consider innovation, trends and tastes in
decision-making.
Focus groups- It is carried by discussing about the product in a group of individuals. It is
conducted for 2 hours. All the queries are decided in advance and can be utilised by both B2B
and B2C marketers. The purchasing decisions may be well understood through assessment of
results from at least 3 groups. These surveys take place in different locations. For example, B2B
car seller and tyre manufacturer in B2C can use this information to decide the interest of product
in different areas, preferences of the customers and purchasing power.
Personal interviews- It is similar to focus group. It generally lasts for 1 hour. It alludes
unstructured and open-ended questionnaires (Samoggia and Riedel, 2018). It provides subjective
and relevant data as compared with surveys. B2B and B2C marketers can make use of this in
discovering the problems related with new tyres and car products and need and tastes of the
customers.
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Observation- It is more consistent method as compared with other types. It is not
necessary that the information collected through the surveys, focus groups and personal
interviews will be actual and real. The use of this method ensures correct and accurate data
collection. Henceforth, the decisions taken by the B2B and B2C marketers through this market
research method will provide more considerate and true results. For instance, by observing the
work, home, family, availability, trend, demand, competition B2C marketer can take better
decision in designing the plan and decision for introducing the car in the market. In context of
B2B a tyre marketer can make decision of supplying the tyre by discovering the same product
suppliers and their prices, manufacturers of end product like cars, trucks, buses, etc.
Field traits- This method can be applied by the B2B and B2C marketers to introduce
their new products like tyres and cars respectively. In this approach, study of product response is
conducted by placing the new product in chosen stores (Pounders and Stowers, 2016). It will
assists both the marketers in determining the decisions regarding alterations in the product,
adjustments in the prices, packaging, quality, customer satisfaction and preferences. This
approach may be utilised with the assistance of small retail stores local businesses, local shop
owners and websites. Collective response may be provided through use of this methodology.
P5) Throw-light on how marketers can influence numerous stages of decision-making process of
B2B and B2C, specify examples.
The distinguished factors by which marketer can influence decision-making process of
B2B and B2C are discussed as follows:
Perception: In global market distinguished customer has their own perception regarding
product. Marketer frame unique tactics to build positive perception of their products in
customers mind for longer time period. However, perception plays a vital role in attracting
potential clients and stimulating them to purchase the products of the company. It will raise their
sales volume which will lead in raising profitability ratio. In open market place client is attracted
more towards those product which is eye catching and is able to build positive image in the
mind. Hence, customers frame perception of the product by accumulating data from people.
Cognitive learning: In this case, model assist the marketer to read the mindset and
behavior of client. By doing so marketer is able to influence their decision making process in
positive way. For best results administration put more and more emphasis on reading mental
state so that customers decision regarding the products in the market place can be changed. It
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will help them to gain competitive advantages against rivalry in cut throat competitive world.
Also, directly or indirectly the sales volume raises which ultimately leads in maximizing huge
profits (Quinton and Harridge-March, 2008).
Behavioral theory: In open market place this theory stimulate the buying behaviors and
decision making process of the consumers in positive way. As this is associated with customers
attitude, nature and behavior in market place. It includes factor of conditioning where it seeks to
observe that how customers interact with the environment and the product which is present in the
environment so that their needs can be satisfied. Behavioral theory states that the business should
be flexible in nature so that they can easily cope up with dynamic environment changes taking
place constantly (Raphaeli and Fink, 2017).
CONCLUSION
The above discussion provide conclusion that consumer behaviour is the core element
which need to be studied effectively. Organization need to examine consumer attitude towards
purchasing criteria as it will help them to frame product, tactics, prices etc. accordingly. This
leads increasing productivity and profitability ratio of the business concern. It results in gaining
best and productive outcomes in cut throat competitive world. The differentiation between B2B
and B2C is studied so that improvements can be done accordingly. Along with this staff
members can be motivated to work day and night to meet the set objectives in the set time frame.
The importance of marketers to map is examined so as to achieve set goals and objectives.
Critical evaluation of various model are done to understand impact upon decision-making
process. By studying distinguished models administration is able to formulate tactics
respectively. Additionally, deep assessment is done regarding influence of each stage of decision
making process so as to attain competitive advantages against rivalry. Moreover, justification is
studies regarding distinguished factors affecting decision making process and purchasing
behaviour of clients. It helps the administration to grow and flourish in international market
which is a positive mark for company.
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