MKT00102: Consumer Behavior Report - LG Television Purchase

This report analyzes consumer behavior in the context of purchasing an LG television. It begins with an executive summary and introduction, followed by an examination of primary and secondary research, including interviews with two consumers, Nick and Tony, who recently purchased LG televisions. The report explores internal influences like personal needs and lifestyle, and external influences such as culture and societal impacts, on consumer decision-making. It identifies the most important influence and summarizes the target market. The report concludes by discussing the marketing implications of these influences, offering insights into how marketers can understand and cater to consumer behavior. The report utilizes information from a previous assignment, references relevant literature, and provides a comprehensive analysis of the consumer decision-making process.

Running head: Consumer Behavior 0
Consumer Behavior
Assessment 2
5/19/2019

Consumer Behavior 1
Executive Summary
This report is totally based on the research involves in the decision-making process of consumers
in purchasing a particular product. The interview has been taken in this research to conduct
primary research between two consumers and analyze their views regarding the same product.
The purchasing of LG television has been considered in this research. The information gained
from assignment 1 has been included in this research and this report has been discussed about the
internal and external influences on the decision-making process of consumers. The various
implications of marketing have been described in this research.

Consumer Behavior 2
Contents
Introduction......................................................................................................................................3
Part (i)..............................................................................................................................................4
Primary and Secondary research.................................................................................................4
Part (ii).............................................................................................................................................8
Summary of the target market.....................................................................................................8
Part (iii)............................................................................................................................................9
Conclusion...................................................................................................................................9
References......................................................................................................................................11
Appendix........................................................................................................................................13

Consumer Behavior 3
Introduction
The report will be discussed about the primary research and the secondary research based on
consumer analysis regarding the decision-making process in purchasing a product. The interview
will be conducted in this research project to analyze the decisions of the consumers in purchasing
the same product. The information of this report will be taken from assignment 1 and then
analyze the internal and external influences on the consumer decision- making the process. The
secondary research in this assignment is based on the primary research and the summary of the
target market will be included in this research project.

Consumer Behavior 4
Part (i)
Primary and Secondary research
Assignment 1 includes the information regarding the consumer decision-making process in
which two consumers Nick and Tony have been purchased a new television. The television is
considered as a product in this research related to the LG brand. So, the consumer behavior
matters a lot in this product as this is a one-time investment and need the proper quality product
and it is very essential for their lifestyle. Nick purchased this product recently and the decision of
Nick is very quick regarding the selection of a television. The budget also matters in Nick's
condition. Tony has brought the TV before 2 months and he analyzes the product very briefly
and compared with other brands then he has taken the decision regarding purchasing.
In this situation, there are many internal and external influences in the decision-making process
of consumers.
(a) Explain the different internal influences on the consumer’s decision-making
process.
The internal influences play an important role in consumer decision- making the process.
The internal influences can help the consumers in the purchasing decision process and
make the consumer comfortable in choosing the right product at the right time (Younus,
et. al., 2015). The internal influences include the internal factors used in consumer
behavior in the process of making decisions regarding selecting a product. The internal
influences include different factors like motivation, attitude, and lifestyle. The internal
influences highly affect the consumer purchase decision. The influences are changed in
the case of every situation in purchasing a product.
Nick and Tony both purchased the same product that is LG TV. However, they both face
different situation so thy buy different product of the same brands. Therefore, the
internal influences are changed for both the consumers, as the situations of both the
consumers are different. The internal influences for Nick to purchase a product are
described below-

Consumer Behavior 5
Personal needs: the personal need is one of the internal influences that affect consumer
decision- making the process. As per the internal influences, the decision of the
consumers gets affected (Mirabi, et. al., 2015). The personal needs of Nick are to
purchase a TV but there is a problem regarding the budget and he has chosen a TV that
satisfies their personal needs only. The need of the consumer can be defined as per the
lacking of something or the difference among their needs and actual state. This shows
that the Nick purchasing a TV for fulfilling their personal needs but he faces the situation
regarding the budget as the budget of Nick is low that's why he refuses to buy OLED TV
which is of 40,000. Therefore, the needs of the consumer are very essential in the process
of purchasing decisions regarding the particular product (Karimi, et. al., 2015). Like,
Nick can maintain their needs in purchasing an LG television. Tony needs a TV that also
performs the process of the home theater so he prefers the OLED TV and there is no
problem of the budget in case of Tony so he purchases the TV of the large cost that is
40,000.
Lifestyle: The lifestyle is also one of the important influences that directly affect the
consumer decision-making process. The lifestyle of consumers helps the marketers to
analyze the purchase decisions so the lifestyle of Nick can affect their purchasing
decision regarding the purchasing of the LG television. By this concept of influences, the
markets get help to identify the purchase decision of the consumers as per their lifestyle
(Chovanova, et. al., 2015). The lifestyle of consumers can affect the process of consumer
behavior regarding the choosing of a particular product. Nick lifestyle affects their
decision as they purchase a simple smart TV and refuses to obtain the OLED TV and
Lifestyle of the Tony affect them to purchase OLED TV and there is no problem of the
budget in the case of Tony. The lifestyle of Tony is better to influence the decision to
purchase the television as per their concept (Chovanova, et. al., 2015).
(b) Explain the different external influences on the consumer decision-making
process.

Consumer Behavior 6
The external influences are also very important in the process of the consumer decision-
making process. This process is mainly used to analyze the consumer-purchasing
decision regarding specific products. This research includes the product that is the
television of LG. In the purchasing process of the products, the external influences are
greatly involved. Some of the main external influences our culture, subculture,
household, and structure. External influences highly affected consumer behavior. Socio-
cultural influences are also known as the external influences and this can affect the
formal and informal relationships with the friends, family and another process (Gu, et. al.,
2012). Nick and Tony's situations are also affected by external influences. The external
influences related to the particular decision-making process of Nick and Tony are
described below-
(a) Culture
The culture is one of the great external influences that affect the overall decisions of the
consumers and decides to change their decisions. I this research, the purchase decisions
of Nick and Tony are different as per their situations as Nick buy the television recently
and Tony buy the product 2 months back. Therefore, the culture of a society can affect
their decisions. As Nick can choose the other TV due to their budget problem which also
included in the culture. Culture is used to develop a consumer need and this can affect
their decisions regarding the purchase behavior (Gu, et. al., 2012). The protection of the
culture is affecting individual behavior and affected consumer decision- making the
process. The decisions of the consumers matter a lot for the marketers so that the culture
can also affect their decisions regarding the purchasing of any product.
(b) Societal impacts
The society is also given a large impact on consumer decisions regarding purchasing
as the society can distract the mind of the consumers regarding particular products.
Like, in the case of Tony, the family and neighbors of Tony distract the mind in
selecting the television of LG brand and this can impact highly to their decision-
making process. The societal impact is one of the large external influences that affect
the mind of the consumers. This can highly affect consumer behavior and the
decision-making process of the consumers.

Consumer Behavior 7
So, it has been determined that the above influences are highly impacted by the
decision-making process of the consumers. The internal land external both influences
can affect the minds of the consumers and affect the purchasing decision of them.
These influences are different at different times and this can highly influence the
decisions of the customers.
(c) Identify which influence appeared to be the most important.
From the above information, it has been concluded that the internal influences are most
important as per the external influences and this can affect the overall consumer decision-
making process. The internal influences are more important as they directly affected the
behavior of the consumers. The internal influences include attitude, personal needs, and
motivation. The personal needs are the most important aspect among internal influences
as this need can affect the decision-making process of the consumers as their decisions
can fluctuate due to their needs and desires. By identifying the needs and motives of the
consumers, the marketers get the information regarding the consumer interest and work
as per their needs so that the business and market are increased at large level (Gu, et. al.,
2012). The various numbers of influences can affect the consumer at the time of
purchasing. The internal influences play a vital role in the decision-making process of the
consumers so that they can maintain their purchasing process by the internal influences.
Tony and Nick are affected more by the internal influences so it is most important as
compared to any other influences. So from the above conclusion, it has been determined
that the internal influences are the most important factors that directly impacted the
purchasing decisions of the consumers which affect the overall market conditions and
marketing capacity of the business environment. The decision-making process of the
consumers is one of the important parts of the business market and these get changes as
per their factors, which included internal factors and external factors. However, from
these two factors, internal factors are more affected as per the external factors and this
can increase the market of the business environment and make their business proper and
profitable. So, it gets clear from the above information that the internal influences are the
most important part of the consumer decision- making the process.

Consumer Behavior 8

Consumer Behavior 9
Part (ii)
Summary of the target market
The target market is more important in the consumer- decision-making process as the
target market decides the proper position of the market and the business. The target
market of this research is based on the behavior of the consumers and their decisions
regarding the target market (Bals, et. al., 2016). The target market in this research is
depending on the brands. A target market is a group of customers for which an
organization design and implement the marketing mix that gives more preference. The
consumer- behavior and target market are related to each other as the decision gets to
change the target market and target audience is changed.

Consumer Behavior 10
Part (iii)
Conclusion
Internal and external influences Marketing implications
As per the above part of the report, it has
been determined that the internal and
external influences play an important role
in the consumer decision-making process
as these influences can affect the
purchasing decisions of the consumers. The
above part of the assignment includes the
description of the internal and external
influences that affect the overall process.
Nick and Tony purchasing decision can
affect the internal influences and external
influences. The internal influences
determined in the above part are personal
needs and lifestyle, which affect the
decision of the consumers (Mullins, et. al.,
2013). As per the knowledge, the
consumers decide the product as per their
needs. The lifestyle is also impacted in the
process of the decision-making process as
the consumers need to maintain their
lifestyle and it maintains the purchasing
decisions of the consumers.
The external influences determined in the
above part of the assignment are culture
and societal impacts. Both factors have
greatly affected by the decisions of the
Several marketing implications are also
used in the process of determining
consumer behavior. The target market also
plays an important role in consumer
decision- making the process, as this is one
of the main parts of the marketing process
and improves the business process. The
target market is impacted by external and
internal influences (Pineda, et. al., 2016).
The target audience is highly impacted by
the various strategies like standard
strategies, social media marketing and
reducing the complexity from the business
process. The target market process includes
various other strategies to promote
consumers regarding particular products.
This process overall maintained the target
market. The above part of the assignment
defines the summary of the target market
and the importance of the target market in
marketing (Nica, 2013).
The marketing implications improve all the
strategies to analyze the target market. The
market segmentation is one of the
important parts that is used in the target

Consumer Behavior 11
customers and they purchase a product as
per the social and cultural effects. This
process increases the overall information
for the marketers and improves their
marketing position as they previously
determined the purchasing decisions of the
consumers and product they need to
purchase.
market and it improves the overall decision
of the consumer and impact the consumer
behavior (Akdeniz, et. al., 2013). The target
market gives the proper strength to the
business and helps in the segmentation of
the market.