Consumer Behavior and Insight Report: Aston Martin's Electric Cars

This report provides a comprehensive analysis of consumer behavior and decision-making processes, specifically in the context of Aston Martin's automotive products and services, including the launch of their electric sports car. It explores the different stages of consumer decision-making, from identifying needs to post-purchase evaluation. The report emphasizes the importance of mapping the consumer journey to understand how customers make purchasing decisions. It contrasts B2B and B2C decision-making processes, highlighting key differences and appropriate market research approaches for each. Furthermore, it assesses how Aston Martin's marketers can influence the consumer decision-making process at various stages. The report aims to provide insights into how Aston Martin can effectively target and influence its customer base, ultimately enhancing sales performance.

Consumer Behaviour
and Insight

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Analysis of different decision making stages for automobile products and services.......3
P2. Importance of mapping a path for understanding the consumer decision-making journey
................................................................................................................................................5
TASK 2............................................................................................................................................6
P3. Key difference process of decision-making process for a particular product in context with
B2B and B2C..........................................................................................................................6
P4. Different approaches to market research for understanding the decision-making process
for B2B and B2C....................................................................................................................8
TASK 3............................................................................................................................................9
P5. Assess how marketers of Aston Martin can influence the various stages of the decision-
making process of B2C and B2B...........................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Consumer insight can be defined as a way of interpreting the trends of human behaviour,
to analyse how they perception about product and service (Pirbazari and Jalilian, 2019). Through
this insight, managers of a firm can develop plans to change purchasing behaviour of customers
for mutual benefits. The present report is based upon Aston Martin which deals in automotive
industry that manufactures and distributes luxury cars in entire world. It has established the
business in 1913 in London at initial level but now has near about 150 dealerships over 50
nations, that made this firm as one of the branded automobile. Top management team of this firm
decides to launch electric sports car having high technological features, that provides more
security to customers. For this purpose, its management is going to analyse the different stages of
decision making of customers to grab their attention. In this regard, importance of conducting of
such analysis, along with a comparison is made on key difference of decision making in regards
to B2C and B2B is described. Furthermore, how marketers of present firm can influence the
decision making process of targeted customers also being developed.
TASK 1
P1. Analysis of different decision making stages for automobile products and services
Consumer insights refers to a process of analysing the market research for evaluating how
customer perceives a brand, that majorly influences their purchasing behaviour (Szmigin and
Piacentini, 2018). As per key law of marketing, it becomes essential for every organisation to
gain insight of consumer behaviour, for earning and keeping trust of targeted audience. For this
purpose, they need to collect customer related data and interpret the same, in systematic manner.
This will allow a firm to acquire, develop as well as retain customers, by offering them products
as per their desire (Ro and Ha, 2019). In context with Aston Martin, it is one of the branded
manufacturing automobile firm that offers highly innovative and luxury cars. But as people have
become more aware about sustainability and fuel efficiency of cars, therefore, before launching
any new car, it is essential for respective firm to evaluate different decision making stages of
customers. Here, decision making process of customers are mostly affected by brand image,
marketing activities and views of others who have already purchased a particular product
(Kimmel, 2018). Customers decision making process can also be defined as a way of purchasing
a product from availability of different options. In this regard, different decision making stages

of customers that describes how purchasing behaviour of them is changed, are explained as
below -
Step 1: A problem or a need: It is the initial stage of consumer decision making journey,
which states that how people decide what they need (Forghani, Kazemi and Ranjbarian, 2019). It
describes that decision of people for purchasing a commodity is either depended on their needs
or problem they are facing to meet their desires (5 Stages of the Consumer Decision-Making
Process and How it’s Changed, 2018). Through identification of this, management of Aston
Martin can help customers in identifying their needs and in deciding what they have to purchase
for the same.
Step 2: Information Search: After identifying the decision of people in terms of need or
problem for purchasing a thing, now management of Aston Martin needs to collect and gather
relevant information (Anaza and et. al., 2019). For this purpose, managers of respective firm
require to conduct internal and external market analysis, to evaluate how new product can meet
desires of customers. This would help in launching the new innovative electric car more
successfully.
Step 3: Evaluation of alternatives: Through above stages, marketing managers of Aston
Martin can evaluate how to get positive perception of customers, towards its new products. Now,
at this third stage of customer decision making journey, managers are required to provide
alternative options to customers, on those sites where they spend their most of the time, to get
reviews of competitor products (Nyadzayo, Matanda and Rajaguru, 2018). Through providing
options to customers how new product of Aston Martin can meet their needs, will help in
positively influence the purchasing decisions of them. Along with this, other alternatives can also
be developed like marketing campaigns, advertising on those channels that used by competitors
and more.
Step 4: Purchasing decision: This stage refers to be the most valued one, where
managers after developing a number of alternatives to attract potential customers towards its new
product, needs to choose the best option (Vieira and et. al., 2019). Since it has been evaluated
that people are spending most of their times on social sites that highly influenced their
purchasing decision. Therefore, it refers to be best alternative for Aston Martin to market its new
product over there, through designing the websites.

Step 5: Post purchase evaluation: It is the final stage, where Aston Martin after
examining the market trends and how customers can get positive and relevant information about
new product, is required to make appropriate action plans for positively influence their decision
for purchasing the same (Mohtaramzadeh, Ramayah and Jun-Hwa, 2018).
P2. Importance of mapping a path for understanding the consumer decision-making journey
Mapping a path is essential to understand how customers go out at each stage of decision
making, for buying a commodity (De Mooij, 2019). As Aston Martin offers luxury sports car at
marketplace, therefore, its managers need to map an adequate path to ensure that sports car
lovers people will get positive information during decision making process. This would help in
influencing positively their purchasing behaviour towards its new products, so that sales
performance after launching the new e-sports car will be increased (Pirbazari and Jalilian, 2019).
Since cars and other automotive products are not counted as basic necessity but essential for
living a life comfortably. In context with sports lovers, for purchasing sports cars that meet their
expectations, they conduct a proper market research or make a proper plan. It includes determine
requirement for purchasing a car, examine the alternative of products, conduct detail information
about features and its brand, etc. to decide whether buying a particular car will satisfy their need
(Szmigin and Piacentini, 2018). In this regard, some of the essential steps that customers are
generally followed for mapping a path of decision making is given as below -
 Make a plan from where adequate information about features of a particular product can
be gained. So, it is essential for managers of Aston Martin to bring its presence on digital
channels first, where customer at their first click, get first information of its new product
(Ro and Ha, 2019).
 After choosing the channels, consumers used to compare branded products and other
alternatives, that highly influence their decisions (Kimmel, 2018). So, mapping this path
will help respective firm can develop better strategies to provide better features and how
the same will meet desires of consumers.
 At last, action plan to strike minds of sports lover can be made by mapping or mentoring
the research progress.
Thus, through mapping the entire path with each stage of customer decision making journey,
managers of Aston Martin can develop better strategies for launching and enhancing the sales
performance of its new e-sports car (Forghani, Kazemi and Ranjbarian, 2019). Furthermore, it

has been analysed that decision making process plays a crucial role in evaluating how brand
perception positively influence the customers to buy a particular product. In this regard, a
number of models can be applied to analyse how customers make decisions to buy products of
automotive industry such as luxury cars, commercial vehicles, sports car and more (De Mooij,
2019). Some models in this regard, that defines the concept of decision making, is described as
below –
Passive Model: This model refers to be the most important one that states that purchasing
decisions of people are highly changed as per promotional and advertisement activities of a
company (Pirbazari and Jalilian, 2019). Along with this, before buying any commodity
especially the luxury one, they mainly expected to get extra benefits like amazing discount
offers, insurance plans and other. Therefore, managers of Aston Martin need to focus on this
concept, for understanding the decision making behaviour of customers.
Cognitive Model: The another model that defines how customer respond towards
marketing and promotional activities of a firm. Through applying this model, management of
respective company can monitor effectiveness of its promotional plans for analysing whether
customers give positive response towards same or not (Szmigin and Piacentini, 2018). Through
this process, better marketing strategies can be developed.
Economic Model: It refers to crucial and valuable model which known as non-realistic
one, because here assumptions are made that purchasing behaviour and decision making power
of customers are rationally based, i.e. they highly influenced by reviews of other consumers and
respond towards products of a company accordingly.
TASK 2
P3. Key difference process of decision-making process for a particular product in context with
B2B and B2C
Since it has been evaluated that purchasing behaviour of customers highly affects the
marketing and business operations of a company (Anaza and et. al., 2019). Therefore, in order to
influence positively the decisions of consumers about new e-sports car, it becomes necessary for
management of Aston Martin to adopt the better approaches for accomplishment of
organisational goals. For this purpose, they should evaluate the different approaches as per
Business to Business (B2B) and Business to Customers (B2B), as explained below –

Basis B2C B2B
Buying decision As per this approach, a
company allow customers to
buy products directly from their
stores (Nyadzayo, Matanda and
Rajaguru, 2018). So, it
consumes less time to influence
customers buying behaviour
but for this purpose, Aston
Martin needs to focus on
enhancement of shopping
experience by providing them
better services.
This approach refers to a type of
commercial transaction, where a firm
either purchases or supplies its
materials from others for further
production of a good. So, using this
approach, Aston Martin can focus on
its supply chain procedure that
provides detail to customers about its
sustainable manufacturing and selling
procedure (Vieira and et. al., 2019).
This would help in positively
influencing their behaviour.
Marketing strategy As B2C approach focuses on
end customers, so, it assists
managers of Aston Martin to
develop better marketing
strategies that increases feet of
customers at its stores
(Mohtaramzadeh, Ramayah and
Jun-Hwa, 2018).
This approach concern on other
businesses, for enhancing
sustainability of production.
Therefore, for adopting this approach,
management of respective firm needs
to buy raw materials from those
companies who have sustainable
brand image at marketplace.
Decision which is
associated with the
size of market
Under B2C approach,
emotions, wants and desires
affect the buying decisions of
customers.
Planned, logical and based on needs,
influence the consumer behaviour and
decisions for purchasing a commodity
(De Mooij, 2019).

P4. Different approaches to market research for understanding the decision-making process for
B2B and B2C
For conducting a market research to evaluate the customer trends and their behavior for
buying a particular commodity, a number of approaches can be used (Ro and Ha, 2019). It
includes qualitative and quantitative research approach which provides various methods to gather
adequate data, for extracting the information about how to influence the decision-making process
either for B2B or B2C.
Qualitative research: It can be defined as a theoretical approach that mainly focused on
collecting data in detailed manner, where for analyzing customer behavior and decision making
process, it emotions, feelings and other non-numerical elements (Kimmel, 2018). Through this
type of research method, managers of Aston Martin can become able to add features in its new e-
sports cars by manufacturing it as per desires and emotional needs of targeted audience. But as
this type of research do not provide the numerical of statistical information about how decision
making process within B2B or B2C business changes, therefore, effective strategies cannot
develop, by conducting market research in qualitative manner.
Quantitative research: It refers to another type of market research approach which
mainly concerns on gathering fact based and statistical information, that help a firm to take better
decisions for meeting their organisational goals (Forghani, Kazemi and Ranjbarian, 2019). As
Aston Martin conduct business in both B2B and B2C manner, therefore, conducting quantitative
research will provide better information about decision making process of targeted audiences,
suppliers and distributors in effective manner. Through this process, managers of present
company can make better strategies how to influence customer buying decision positively, for
enhancement of sales performance.
Factors which influence the decision making power of customers –
Decision can be considered as a set of action that an individual takes to decide whether
buying a particular product from availability of various options, can satisfy the needs. Therefore,
for influencing the decision making power of customers, it is essential for every company to
differentiate its products from other alternatives (Anaza and et. al., 2019). In context with Aston
Martin, as purchasing decision of sports lover affects highly its profitability in both positive and
negative manner. So, through applying the qualitative approach, its managers can evaluate those
factors that highly affects its brand, as described below –

Personal factors: This factor includes the demographics i.e. age, particular lifestyle and
sexuality of a person, highly affects the decision making process of consumers. In this regard,
managers of Aston Martin require to promote its newly innovative electronic sports car, as per
demographics of each customer (Nyadzayo, Matanda and Rajaguru, 2018).
Purchasing power: It is considered as one of the most important factor that highly
influences the decisions of people. As sports cars are counted as luxury goods, therefore, whether
a group of population can purchase it or not, depends on their level of income (Vieira and et. al.,
2019). So, it directly impacts the profitability on Aston Martin either in positive or negative
manner. Therefore, it is essential for respective firm, to offer its new product as per purchasing
power of sports lovers and on less competitive rates. This would positively influence the decision
making power of such potential customers and increase chance of high sales performance as
well.
Cultural factors: As per the cultural factor, managers of Aston Martin through secondary
sources have been evaluated that decision making process of potential customers also get
influenced by their respective culture or society in which they lived (Mohtaramzadeh, Ramayah
and Jun-Hwa, 2018). Therefore, managers need to focus on values, beliefs, tradition, religions
and many more, for evaluating how customers of particular culture make decision for buying the
luxurious cars.
Thus, through all above factors that are cultural, purchasing and personal, managers of Aston
Martin can further conduct market research to gather quantitative data, for development of better
strategies to influence decision making process of potential customers on individual basis (De
Mooij, 2019).
TASK 3
P5. Assess how marketers of Aston Martin can influence the various stages of the decision-
making process of B2C and B2B
As before marketing any new product or promoting the existing ones, it is essential for
every firm to understand consumer behavior and their decision making process (Pirbazari and
Jalilian, 2019). Therefore, after gathering such data and information, management of Aston
Martin needs to perform its major operations in a specific manner, that positively influences the
customers towards its new luxury ecofriendly e-sports car, as explained below –

Purchasing process of consumers: It has been analysed that buying process of potential
customers is mostly depended on the current trends and demand of marketplace. For buying any
new product, they gather prior information about brands and quality of products of existing ones
(Szmigin and Piacentini, 2018). In this regard, by examining the customer behaviour and their
decision making power can develop better strategies as per each stage of decision making
process, to attract minds of sport lovers.
Evaluating the product specifications and creating differentiation for targeted
audience: It has been evaluated that every organization has its own process of selling and
marketing its business. Therefore, through creating differentiation in product and marketing
strategies, management of Aston Martin can attract minds of potential customers and positively
influence their buying decisions towards its business (Ro and Ha, 2019). For this process, it also
essential for management to conduct regular research on evaluating market trends that influences
the buying decisions of targeted audience.
CONCLUSION
Through the overall discussion, it has been summarised that consumer insight and their
behaviour is one of the best approach that a company takes, to positively influence the buying
decision of customers towards its products. By analysing different models and concepts of
decision making process, a firm can make better strategies to attract and retain the customers, for
generating high profitability in business. For launching any new product at marketplace,
conducting proper market research, analysing the approaches in terms of B2C and B2B etc. help
a company in increasing the chance of high sales performance.

REFERENCES
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cars’ consumer behavior in Iran. Journal of Islamic Marketing. 10(2). pp.673-688.
Kimmel, A. J., 2018. Psychological foundations of marketing: the keys to consumer behavior.
Routledge.
Mohtaramzadeh, M., Ramayah, T. and Jun-Hwa, C., 2018. B2B E-commerce adoption in Iranian
manufacturing companies: Analyzing the moderating role of organizational
culture. International Journal of Human–Computer Interaction. 34(7). pp.621-639.
Nyadzayo, M. W., Matanda, M. J. and Rajaguru, R., 2018. The determinants of franchise brand
loyalty in B2B markets: An emerging market perspective. Journal of Business
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Pirbazari, K. N. and Jalilian, K., 2019. Designing an Optimal Customer Satisfaction Model in
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Ro, Y. and Ha, Y., 2019. A factor analysis of consumer expectations for autonomous
cars. Journal of Computer Information Systems. 59(1). pp.52-60.
Szmigin, I. and Piacentini, M., 2018. Consumer behaviour. Oxford University Press.
Vieira, V. A. and et. al., 2019. In pursuit of an effective B2B digital marketing strategy in an
emerging market. Journal of the Academy of Marketing Science. 47(6). pp.1085-1108.
Online
5 Stages of the Consumer Decision-Making Process and How it’s Changed. 2018. [Online]
Available through:< https://directiveconsulting.com/blog/5-stages-of-the-consumer-
decision-making-process-and-how-its-different/>.

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