Consumer Behaviour and Insight Analysis for Bentley Motors Ltd

This report provides a comprehensive analysis of consumer behavior and insight, focusing on Bentley Motors Ltd and its Azure car models. It begins by defining consumer behavior and its significance for businesses, outlining the various stages of the consumer decision-making process, including pre-purchase, purchase, and post-purchase evaluation. The report then examines the environmental factors influencing consumer decisions and maps the customer's path to purchase. It further evaluates how marketers react to the decision-making process using economic, cognitive, passive, and emotional models. A key aspect of the report contrasts B2B and B2C marketing models, highlighting differences in decision-making processes, marketing strategies, and market sizes. The report also details the decision-making complexities in B2B compared to B2C, emphasizing differences in research methods and respondent numbers. Overall, the analysis provides valuable insights into consumer behavior and effective marketing strategies within the luxury automotive sector.

Consumer Behaviour
and Insight

INTRODUCTION
Consumer behaviour is affiliated to the study of individuals, a group of people and
organisations and how they choose their products and services in order to meet the consumers
demand and needs. The main motive of consumer behaviour study by the business organisations
to ascertain that how customers feel about different alternatives brand, how customer influenced
from environmental factors, and what is the reason behind selecting a specific brand. For
understanding all these factors the chosen products of the Bentley Motors Ltd which is Azure
cars. This study will give the knowledge about that how the customers decision facilitate towards
a specific product and the various theories and models which have greatly influence the
customers decision-making. Moreover, the use of various approaches of market research for
knowing the decision-making process in the both concepts of B2B and B2C business also will
understand.
TASK 1
P1
Consumer is the foundation of the business success so it is essential for the business
organisation to ascertain the customers decision-making process. The analysis of this process is
essential for the business manager of Bentley as it helps them to determine the needs and wants
of the customers so that it can be fulfilled in the limited period of time (Xiang, Magnini and
Fesenmaier, 2015). While taking the purchasing of a specific product customers is going through
from various stages which are as follow:
Consumer decision making stages are as follows :
Pre-Purchase: While taking the decision related to purchase a product consumers will go
through from several steps which are mentioned below:
 Need recognition: This is the first step in which customers will ascertain that what
exactly they want to satisfy their needs. The need of recognition has affected by both the
internal and external factors which includes the need of a product and second refers to the
outside resources like reviews and advertisement. In order to purchase a car customer
must make an effective decision in this case they have to spend huge amount of money.
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 Searching and Gathering information: In this second stage, customers decisions will
remain in changing position as in this step the main focus of them on collecting the
information in order to select a best option related to purchase a best product. In this
aspect, they can various channels like social media, visual, newspapers and others. With
the help of all these channels and by taking the reviews and feedbacks from the customers
they will determine that they purchase the car or not(Carrington And et. al., 2014).
 Evaluating the alternative: At this step, customers will analysing the different products
and brands so that they will be able to select a most appropriate product which can deliver
them the benefits for which they are seeking. This will help the customers in choosing the
a best car which can provide them higher services at lower price.
 Purchase: This is the stage where the purchase will take place in order to satisfy the
needs. The decision related to purchase the product can be affected by the negative
feedbacks and motivation of purchase the product. Here the customers will finally decide
that which car and from where they want to purchase the car.
 Post purchase evaluation: It refers to assessment of the customers behaviour related to
the purchased commodity that the customers are satisfied from the products or they are
dissatisfied. If the Azure car is able to satisfy the customers needs then it will provide
benefit to company in providing higher profitability and brand value in the marketplace.
Thus, it can be stated that in order to purchase a most effective product a customer must
consider all the above levels in their decision-making process so that a proper decision can be
formulated(Sasmita and Mohd Suki, 2015).
P2
Customers are the most important part of the business organization as the success and
growth of the business depend on them. So it is necessary for the business manager of a company
to map a path to purchase in order to improve the customers experience and to satisfy the needs
of customers. For getting the higher success in the marketplace it is essential for the manager of
the Bentley company to identify the environmental factors which have effect on the decision-
making process of customers so that they can come up with the best decisions related to provide a
product. Here are described four stages which assist the business in determining the customer
behavior and their decision-making journey:
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Pre-purchase: It is the initial level of decision-making process in which the customers
will take their decisions after collecting all the necessary information or data related to product so
the decision related to the needs or requirement of the product can be ascertained.
Purchase: In this second phase, customers will take the decision related to purchase the
product after assessing that the products is able to satisfy the needs of them or not. At this stage,
the marketers must consider effective marketing channels so that the product will be able to
snatch the attention of a range of customers towards the product(Johnstone And et. al., 2013).
Receive: At this step, customers will finally receive the products and will be able to get
the advantage of it. If the product will be able to provide higher satisfaction to the customers like
if the Azure car will be able to meet the requirements of the customers then the they become
loyal towards the company which will provide higher profitability and succession to the firm.
Post purchase: This stage comes after the taking advantage the services of a product.
Like if the Azure car is not able to satisfy the needs and expectations of the customers the it will
lead the negative impact on the overall company which results lower brand value and growth of
the business.
All the above mentioned stages will helps the marketers to get the detailed information
about the customers preferences and the requirements of them so that they will be able to produce
products accordingly. The assessment of the the above mentioned path will provide great benefits
to the marketers which are as follow:
 This path will help them to identify about the customers wants and demands so that the
production activities can be carried out accordingly which enables them to attain higher
profitability and success in the business(Stancu, Haugaard and Lähteenmäki, 2016).
 This will assist them that how they can use various tolls and techniques to analyze the
customers behavior towards the products and services which are available in the
marketplace.
 Also, it will enables the marketers to ascertain a small group of people according to the
similarities of their choices and needs so that they will be able to reduce their cost and
attain the customers attention.
Evaluate how marketers are reacting to the decision-making process with the help of models
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For evaluating the consumers behavior in the most significant manner marketers can use
various model which will helps them to know about the customer actions and behavior and those
elements which can impact on the decision-making process(Cayla, Beers and Arnould, 2014).
Economic view or model: This model depicts that a customer remain rational while
purchasing a product as in the time decision might facilitate because of availability of various
alternatives. In this phase, customers give their major concern to select a most suitable option
which give them the higher satisfaction and which is lower in price. So by considering this model
in their working procedures business marketers of Bentley company will be able to understand
that customers will stay loyal when they will receive the higher quality products at affordable
price.
Cognitive view: This will give the knowledge to the marketers about that the customers
will choose the products according to their interest and needs and also by analyzing the demand
of the product in the marketplace. For purchasing an effective product customers will take their
decision after collecting the information about the alternative products so that they will be able to
come up with the most significant option. In this aspect, the marketers need to give their major
focus on enhancing their brand by providing higher services and effective pricing to the
customers.
Passive view: This step of model inspire the marketers to use the effectively techniques
and tools like the company must focus on adopting effectively promotional activities so that they
can aware more customers towards their products(Zhang and Benyoucef, 2016).
Emotional view: This phase pertains that while purchasing a product a customer act
emotionally rather than the practically. Due to this, they give preferences to those products from
which they are emotionally attached not on the basis of that they have needed that product or not.
TASK 2
P3.
The B2B and B2C are very wider concept of commercial transactions in which the B2B
support for business to business transactions and B2C stands for business to consumer
transactions. In these both the business forms the decision making process is different which can
understand by following terms:
Difference between B2B and B2C model of the marketing is mentioned below:
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Basis B2B B2C
Buying decision In this business formation the
decisions related to purchase
the products from the other firm
is taking by assessing the
various factors such as brand
value of the company, products
price and demand in the
marketplace.
The decision in this model is
taking in a prevailing manner
as the products and services is
directly deliver to the
customers in order to satisfy
their needs.
Decision related to the
Marketing strategy
In this phase, the Bentley
company will give their more
focus on marketing of Azure
car in other firms by using their
personal contacts.
For attaining the more
customer attention and
interest company is focussing
on adopting effective
advertising methods like
social networks, viral
marketing and others.
Decision related to market
size
The organisation which are
included in the B2B category
consider the small market rather
than the large markets. On the
basis of small marketers they
are trying to understand the
need of whole economy so that
they can effectively fulfil the
needs of markets.
All the operational activities
in this business are to earn
higher level of profit and
covering a huge market
palace by providing a range of
products and services to the
customers.
Hence, it can be stated that the above explained model will help the marketer in making
an effective decision regarding to produce an effective products so that the customers demand
and needs can be accomplished(Brodie And et. al., 2013).
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Decision making process in B2B and B2C:
The decision-making process in the both B2B and B2C is different form each other as in
the B2B model the judgement is more harder as because it includes various employees due to
which the decision might delay. Other, in the B2C model the decision-making process is more
easy as the decision in this aspect is taken with the help of two or more individuals. The various
points are defined here which will clear out this concept:
 The decision making process of B2B is much tougher than the B2C. As B2C involves the
questionnaire method which is easy as compare to secondary approach which has adopted
by B2B. As the questionnaire method helps the business to get the information the
accurate information in the less time(Dessart, Veloutsou and Morgan-Thomas, 2015).
 While taking the decision B2B consider the only limited respondents like 20 and other
B2C consider the higher number of respondents like 50 due to which this create more
complexity in decision-making.
The organisation will take their decision after taking the interview of the customer in which they
will ask various questions like:
1. Are the customers are familiar with the Azure car?
2. Which elements inspire them to buy the car?
3. What price should be keep for the car so that they can pay easily?
All these factors will help the business in forming an effective decision related to their
product.
Example:
The automotive company which dealing in B2B business form is Bentley in which the
decision-making process is more complex as in this method the business have to give their focus
on analysing the other business with whom they are trading. Due to this the business have to
various problems as because every business have their own perceptions to deal with another
organisations like some firm may give their major focus on quality, some may give to the pricing
of raw-material and some may concern for services providing by the other firms. Whereas, the
business under the B2C that is Apple always taking their decisions only by considering the
customers preferences, choice, needs, demand etc. so that the decision making process within the
organisation which is related to B2C is always more beneficial for the customers.
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P4.
The different approaches and methods of market research are available for an
organization which helps the business to understand the decision-making process of B2B and
B2C(Hoban and Bucklin, 2015). The marketing research approaches in these both aspects are
different which can be understood by the following points:
Market Research approach in B2B:
The companies which are operating their activities under the B2B are using the secondary
research approach in which the data or information is already used by the other researcher. In this
aspect company can use the different resources which are given beneath:
Public records: For collecting the information related to working with another business
marketer will use the public records like brand image, reviews and feedback of the company's
products and services and others. This will help them in taking the decisions regarding to dealing
with other company or not.
Government and non-government agencies: The business organization can also utilize
the government and non-government agencies for conducting the market research as it will render
them the informative data or facts related to the another company so that they will be able to
ascertain the company brand image in the marketplace.
Some advantage to the B2B market by using secondary research are:
 In the method the information is already in existences due to which company does not
have to waste their more time and cost.
 It provide easy accessibility to the company which make easy for the company to carry
out the research activities.
In the business organization marketer will use the public records method as this will give them
more accurate information about the customers demand and needs(Jerath and Park, 2014).
Market research approach in B2C:
For collecting the information related to the customer behavior and market segments the
B2C organizations will use the primary research method as it will help them to collect the more
fresh and current data related to the customers. The information can be gathered from various
resources from which some of the resources are described below:
Questionnaire: This is the most effective resource of collect the information as in this
method the research will ask various questions from the customers by establishing the face to
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face interaction. Researcher will ask them about the products quality, price, design, features so
that they can conduct their production activities accordingly(Pescher, Reichhart and Spann,
2014).
Observation method: In this method, the firm will accommodate a observer who will
give them information about the customer and market segments which will help the company to
come up with best decisions.
Some advantage to B2C by the using Primary research are :
 The collected data from this method is more relevant and first hand data.
 This method enables the enterprise to come up with the best resolution for solving out all
the conflicts.
Thus, the company will adopt the questionnaire method for collecting the more informative and
accurate data.
TASK 3
P5.
Marketers have a huge role in the succession of the business as they are responsible for
analyzing the consumers behavior so that the all the business activities can be performed in an
effective manner. Marketers plays an important role in influencing decision-making process of
B2B and B2C related to customers also which can be understood by following factors:
Perception: In order to enhance the sale of the products marketers needs to create a
positive perceptions of the customers towards the products. The customer always purchase
commodities after acquiring the content about the product from the marketplace so that they will
be able to choose that product which is able to meet from their requirements and needs.
Marketing campaigns: Marketers needs to adopt effective marketing channels for
advertising their products so that they will be able to facilitate the customers decisions and lead
the positive impact on the customers mind(Li and et. al., 2013).
Economic conditions: This is the another factor which have great impact on the buying
behavior of the customers. So, it is essential for the marketer to determine an effective price of
their products so that it become easy for the customer to purchase it which will provide benefit to
the both customers as well as business.
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Thus, it can be observed that all these factors will help the marketers to impact on the
customers buying behavior.
The impact of marketers on the decision-making process also can understand by using effective
model and methods which are as follow:
Behavioral theory: This theory is very beneficial for the company to adopt for assessing
the behavior of the customers towards purchasing the products. By considering this theory in
their business organization marketers of Bentley can determine the reaction of customers towards
the environment and the products which are available in the marketplace which will helps them
top produce those products which have high demand in the marketplace(Stancu, Haugaard and
Lähteenmäki, 2016).
Cognitive learning: This theory is very useful for the marketer as it will help them to
analyze the mentality and mindset of the customers that which products they want and on which
price they want to purchase the products which enables them to operate their production activities
consequently which will help them to attain the higher consumers attention in their products.
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CONCLUSION
From the above report, it can be understood that it is crucial for the business to analyse
the consumers actions in order to getting higher success and growth in their organisation. The
various stages of customers decision-making process has been defined in this file. Along with
this, the several models and approaches which helps the business to determine the customers
behaviour and the factors which have impact on their behaviour also have been considered in this
study. Moreover the concept of B2B and B2C and how the marketers have impact on the
decision-making process of it also have been covered in this study.
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