B2B vs B2C: Consumer Decision-Making in Marketing - Kantar Analysis

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This report delves into consumer behavior and insights, focusing on the consumer decision-making journey and its stages, highlighting the importance of mapping a path to purchase. It compares and contrasts decision-making in B2B and B2C contexts, using Kantar as a primary example of a B2B firm. The analysis includes different market research approaches and methods in both B2C and B2B settings. Furthermore, the report examines how marketers influence various phases of the decision-making process in both B2B and B2C environments, emphasizing the role of understanding consumer needs, pain points, and development priorities. The report concludes by summarizing the key differences and strategies in consumer behavior and market research.
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Consumer Behaviour
and Insight
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Table of Contents
INTRODUCTION...........................................................................................................................1
P1 Stages of the consumer decision making journey..................................................................1
P2 Explain why it is essential for the organisation to map a path to purchase & understand
decision-making process of consumer........................................................................................2
P3 Compare & contrast difference of decision making in context of B2B & B2C....................3
P4 Different approaches of the market research & methods of research in B2C & B2B ..........4
P5 Determine how the marketers influence different phases of decision making of B2B and
B2C.............................................................................................................................................5
CONCLUSION................................................................................................................................8
References:.......................................................................................................................................9
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INTRODUCTION
Consumer behaviour is that way in which an individuals behave when they are willing in
something. Whereas, insights are defined as an understanding or knowledge of things & their
impacts on individuals. The consumer behaviour & insights are also used with the purpose to
create the changes by assisting individuals in finding what they are looking for & attain their
goals. It has been analysed that the consume behaviour display mainly two strategies; product
oriented and task oriented (Johnstone and Lindh, 2018). It must pay more attention on ideas that
in analysing nay product, they may take the decision on the basis of Task oriented process.
Company chosen for this report is Kantar. It is a consumer market research company. This report
is going to cover consumer decision making stages, significance to a map a path for purchasing.
Along with this, difference between the B2B and B2C will be analysed. In addition, this report
will evaluate different approaches to market research and at last, there will be a discussion on
how influence stages of decision making process.
P1 Stages of the consumer decision making journey
It has been analysed that in marketing, consumer decision making is a significant part
that businesses frequently taken into their use with the motive to track entire procedure of
consumer decision making from beginning to end (Lawes, 2022). Therefore, in context of the
Kantar, consumer decision making's stages are discussed below:
Problem recognition- At this phase, it mainly identify the consumer's needs and
requirements. Here, customer identify the missing element & attempt to get back a
normal feeling. In relation to the Kantar, main issue that customer faces was delay in
collecting information or advice. After this, respective company has pay attention on this
issue and formulate few strategies in order to minimize this problem so that customer can
get the significant information timely.
Information search- in this, organisation gather the information through the customer's
suggestion and their prior experience. Apart from this, consumer start to pay more
attention on the risk management and make the decision based on benefit and limitation
list. Kantar also started to take feedback form their customer so that company can bring
changes accordingly.
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Evaluation of alternative- When comes to this stage, then customer ask more question
so that they can seek some more alternative of product and services. This practices can be
done through comparing the prices and selecting such product which suits the customer.
By observing this, Kantar understand it and started to recommend its customer more
alternative or information that help the customer effectively.
Purchase- This stage include the customer's final decision related to make a purchase of
any product in which they are interested. They take this final decision on the basis of
their experience, advertisement, marketing and emotions (Majeed, 2019).
Post purchase satisfaction- It is considered as most crucial stage that provide
information about consumer's satisfaction level. In this, organisation study all the
negative or positive feedbacks and then introduce changes based on these feedbacks.
Hence, Kantar also carefully study all the feedbacks collected from the customers and
then bring some changes accordingly. It not merely aid in creating loyal customer base
but also enable the respective to increase retention rate of their existing customers.
2
Post-Purchase
Evaluation
Post-Purchase
Evaluation
Problem
Recognition
Information
Search
Evaluation
of
Alternatives
Purchase
Purchase
Decision.
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P2 Explain why it is essential for the organisation to map a path to purchase & understand
decision-making process of consumer.
It has been analysed that stages of the purchasing decision making are ever changing.
Kanatr understand that nowadays, customer are more into the comparing, consuming,
recommending and taking taking decision about the purchase (Mena Chalas, 2021).
Additionally, different review sites & social media also impact the customer's buying decision
making process. They expect marketers to know about their customer's requirements. Hence,
Kantar adopt trend of the consumer's journey map which contain an overview of the customer's
experience and how individuals behave with any specific brand.
Interaction between customer and enterprise- map path of the consumer journey
enable the marketers to interact with the customers. By this, companies easily understand
the needs of the consumers and customers also become aware regarding company's
product. This, it help the customer in making their buying decision and also enable the
organisation to increase their target market. In relation to the Kantar, through this journey
map path, executive of respective company can interact with the customers and market
them aware about the services and product in which they are dealing.
Focus on customer's needs- By having the customer journey map path, market become
enable to pay attention on the consumer's needs and requirement and then work according
to meet these requirements (Mensah and Amenuvor, 2022). In Kantar, through the map,
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Post-Purchase
Evaluation
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company easily understand that what its customer want and how these needs can be meet
by generating the touch points so that respective company can offer the services based on
the customer's acquirement.
Throw lights on the needs and pain points- This path also assist the marketers in
understanding consumer's pain points & needs deeply. In relation to the Kantar, its
management is responsible to create this map path in such a manner that not just help in
understanding the consumer's needs but also enable them to clearly understand customer's
pain points which impact their buying decision making procedure.
Highlight the development priorities- By having the customer's journey map path,
marketers clearly observe the custom's priorities by creating and effectual buying
procedure. By using this map, respective company can resolve the queries related to the
customer buying decision (Rumpold and Langen, 2019). Management of Kantar highlight
their development precedence through exploiting this journey map path.
P3 Compare & contrast difference of decision making in context of B2B & B2C
It has been analysed that B2C & B2B are major approaches in marketing used with the
purpose of selling the product. Both of these approaches are different from each other as B2B
stand for the Business to Business and considered as a variety of the commercial transaction
where buying & selling take place between two organisations (Smith, 2019). Whereas, B2C is
that kind of the transaction in which business establishments sells their product or services
directly to end users. Kanatr is a B2B firm that is data and evidence based firm it provide
insights & actionable advised to its clients. Therefore, there is a comparison between both of
these approaches.
Basis Business to business Business to consumer
Identification of needs Here, business organisation pay
more attention to establish a
coordination with the other
companies within marketplace. As
Kantar provide B2B service in
which it suggest the actionable
advice to its clients. In Kantar, it
The organisational management
make attempt to identify their
customer's desires and need as it
help the company in provide
services accordingly. Amazon
and Walmart are example of the
B2C services.
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provide excellent services to its
customers and also evaluate their
several timely in order to bring
more improvement.
Decision B2B convey a planned & sensible
message to clients so that company
can sell their product or service to
the other organization. In Kantar,
customers make decision to gather
information form respective
company
Here, business management
convey an emotion message to
customer so that client can
purchase their product when
needed.
Purchasing decision In this, produce are sole to the
wholesaler instead of customers.
Therefore, it is significant for
Kantar to develop few services
plan so that they can focus on the
customer, price and locations.
In B2C, customer are consider as
most crucial aspect for any
business organisation as they
examine every product of various
organisation to make an effective
decision making. Here, customer
take make purchase in less time
and adopt direct approach when
buying a product or services.
Price B2B price are higher than the B2C,
hence, the B2B customers tend to
need to be will informed so that
they can make a purchase decision.
B2C price are usually lower as
compared to the B2B. When
prices rise, then these customers
have higher need to be well
informed to make their buying
decision.
P4 Different approaches of the market research & methods of research in B2C & B2B
In B2B the mixed research approaches are common and these can be quantitative, or
qualitative depending on outcome that researchers seeks. B2B marketing research is very
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complex and complicated (Szmigin and Piacentini, 2018). In B2C research, sample size
considered as larger than B2C, thereby, making this research more reliable and less skewed.
Additionally, B2C research as defined as customer oriented instead of business oriented that help
in understanding the customer's perspectvie when making a purchase. therefore, there are few
approaches to understand the customer's decision making procedure that are mentioned below:
Personality- The individual's personality enable an organization to influence the
customers. Individual's personality mainly include the preferences, attitude, interest and
behavior. Therefore, management of a company perform various activities to understand
their customers. Kantar treat & serve its clients based in their buying attitude & behavior.
Telephone interview- With this approach, organization as numerous question to the
customers and collect feedback regarding their experience when using company's product
or services. In this, if customer feel more satisfied then it improve company's brand
values. Whereas, in case, customer get a bad experience the, company need to bring more
improvement of value in their products or services.
Survey- Through this technique, company get aware where they are doing wrong and fall
short (Tanrikulu, 2021). Kantar provide an opportunity to its client to share their
suggestion or other advice so that respective company can improve its services
accordingly.
Direct survey- Here, organization collect the feedback directly from their physical
presence or store. In this, firm provide its new launching to customer where customers
share their feedback regarding the product. Hence, this approaches enable the company to
understand that they should product the product only if their target audience like them.
This methods is quite expensive conducted by the organization, but also provide actual
outcome.
Additionally, Kantar conduct a cost effective email survey in which company provide a link to
its clients so that customer can share their feedback and other opinion regarding company's
services.
Observation- As there is possibility that survey & group does not represent actual
behavior of the consumer, therefore by undertaking tapping, Kantar can actually show
that how its clients act or behave during using its services. Respective company uses this
methods with the purpose to understand behavior of its clients very deeply.
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Focus groups- With this method, company pay attention on its target customer & ask
few question to them as it enable the company to understand actual behavior or emotion
of its client. Kantar can uses this method with the motive to reduce a gap between
expected and actual satisfaction of clients.
Personal interview- It is similar as focus group where companies ask few scripted
question to the customer (Testa, Iovino and Iraldo, 2020). In this, when taking interview,
then organization record their every conversion with the customers.
P5 Determine how the marketers influence different phases of decision making of B2B and B2C
Its has been analyzed that the average customers go through pref-defined process of the
decision making when purchasing a desired product or services (Zhao, 2020). This path include
certain commodities throughout the organization & target area, but it is significant to clearly
understand a particular buying process. There are several way through which, marketers
influences the decision making process of the customer in B2B and B2C. Few of these elements
are discussed here,
Need recognition phase- Through marketing campaigns, Kantar can influence the B2C
as in this, company provide the online solution for specific challenges or queries of
customers or clients. For instance, Kantar can make such advertisement that attract
customer. It should develop more promotional campaign which develop a stimuli in
context to desire to buy the services from respective organization. Kantar provide an
excellent services to its customers so that their needs can be satisfied as in this era,
customer expect few more additional facilities or offers with the services. Hence, Kantar
also should offer its services with discount occasionally.
Information search phase- Kantar provide the service of accurate data or information to
B2C customers or clients, which is adequate to excite other individual go for the
respective company's services. In relation to Kantar, it explain the complete information
or data in details related to the required information or advice. Respective company can
also conduct a market research with the purpose to clearly understand requirement and
desires of its clients as it enable the company to fulfill customer's objectives and company
as well.
Finding alternatives- At this phase, customer looks for most effective alternatives in
order to make an accurate purchasing decisions. This phase get influenced by several
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elements (Wycherley, 2021). For instance, pricing influence the decision as a high price
lead to high quality that encourage the clients to purse the product or services.
Purchase decisions- When customer identify the best alternative, then he make the
buying decision on the basis of mode of the product's acquisition that can be offline or
online. Hence, customer's decision making get influenced by the distribution as they
mainly prefer to purchase the product or services from the most conventional place that
make it easy for them to access a product. Kantar has a physical presence that is very
conventional for its clients.
Post evaluation- Kantar articulate an excellent services to its clients as it offer an
exceptional quality of services to its customer. Respective company collect feedback
from its B2B clients as it enable the considered organization to improve flow of its
services & work performance. It uses most effective promotional tools in its marketing
mix strategy so that its clients can get an accurate and reliable information in efficient
manner.
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CONCLUSION
From this report, it has been figured out that the procedure of customer's decision making
is most crucial element within organisation that must be consider by the company in order to
make their business going & growing. This report has also talked about various stages of the
customer's buying decision making procedure with respect to the selected firm- Kantar.
Moreover, theories & models company has applied with the motive to understand the customer's
decision making & behaviour had been discussed about additionally, companies apply the B2C
& B2B approaches so that they can collect the information regarding customer's interest &
elements that affect process of their decision making. So, both of these approaches have been
discussed about & compared. At last of the report impact of the different elements on customer's
choice making also had been evaluated concisely and efficiently so as for justifying that how
different components affect the customer's purchasing behaviour.
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References:
Books and Journals
Johnstone, L. and Lindh, C., 2018. The sustainability‐age dilemma: A theory of (un) planned
behaviour via influencers. Journal of consumer behaviour. 17(1). pp.e127-e139.
Lawes, R., 2022. USING SEMIOTICS IN RETAIL: Leverage Consumer Insight to Engage
Shoppers and Boost Sales. Kogan Page Publishers.
Majeed, M.H., 2019. Pragmatist inquiry in to consumer behaviour research. Philosophy of
Management. 18(2). pp.189-201.
Mena Chalas, B.J., 2021. Development of novel healthy meat products for older adults through
application of physicochemical, sensory, biometric, and consumer insight
methods (Doctoral dissertation, University of Melbourne).
Mensah, K. and Amenuvor, F.E., 2022. The influence of marketing communications strategy on
consumer purchasing behaviour in the financial services industry in an emerging
economy. Journal of Financial Services Marketing. 27(3). pp.190-205.
Rumpold, B.A. and Langen, N., 2019. Potential of enhancing consumer acceptance of edible
insects via information. Journal of Insects as Food and Feed. 5(1). pp.45-53.
Smith, A., 2019. Consumer behaviour and analytics. Routledge.
Szmigin, I. and Piacentini, M., 2018. Consumer behaviour. Oxford University Press.
Tanrikulu, C., 2021. Theory of consumption values in consumer behaviour research: A review
and future research agenda. International Journal of Consumer Studies. 45(6). pp.1176-
1197.
Testa, F., Iovino, R. and Iraldo, F., 2020. The circular economy and consumer behaviour: The
mediating role of information seeking in buying circular packaging. Business Strategy
and the Environment. 29(8). pp.3435-3448.
Wycherley, J., 2021. Transforming insight in 2021. Applied Marketing Analytics. 6(4). pp.309-
315.
Zhao, M., 2020, December. Data-driven Scene Marketing Based on Consumer Insight. In 2020
International Conference on Big Data Economy and Information Management
(BDEIM) (pp. 61-65). IEEE.
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