Individual Video Project: Consumer Decision Making Process Analysis

This project analyzes consumer behavior within the context of fast-moving consumer goods (FMCG). The student selects milk as the FMCG product and applies the five-step consumer decision-making process to their personal purchase experience. The analysis begins with problem identification, where the need for milk for a family with young children is established. The second step involves gathering information from internal and external sources. The evaluation of alternatives considers different milk options. The decision-making phase focuses on the purchase of a dairy cattle. Finally, post-purchase behavior is assessed, highlighting the satisfaction derived from the chosen alternative. The project demonstrates a practical application of consumer behavior principles, supported by references to relevant literature and provides a critical analysis of each step in the consumer decision-making process, using primary research and personal experiences to illustrate the application of marketing concepts.

Consumer Behavior
and Marketing
Psychology
Name
Course
Lecturer
Date

Abstract
 Fast moving consumer goods are those commodities that are likely to be sold quickly
compared to other goods at a relatively lower cost.
 Many cases, these goods tend to be food substances like milk, beverage and drinks,
vegetables and human drugs that can be sold over the counter like Panadol,
paracetamol and aspirin.

 The fast moving consumer goods are known to hold a huge market
size and includes most of the well-established large companies in the
world like dole Foods Company, the Coca-Cola Company, proctor and
Gamble Company, maize millers company and dairy industry
 The FMCG has been noted to greatly been a contributor on different
well performing country’s economy’s. Consumer buying behavior can
be analyzed by use of fast moving consumer goods.

Product: milk
 Milk is one of the top listed fast moving consumer goods in the world
and not only in Australia and me as a consumer.
 Milk is one of the commonly known and used nutrient rich products,
it’s a white fluid in appearance and food in nature.

Analysis
1. Problem identification
 This is always the first stage in the process and it entails working out to get
what exactly the customer need. There are some thing that customers seem to
be missing and for the customer to resume their normality, the needs must be
addressed.
 It’s advisable to always to research the ideal time that the target demographic
develop their urge for this need so that one can advertise them or market
them. In my case, I noted that I had a family composed of 5 and among this, 3
were young children. One was just one year old and needed enough milk.

Examination of both internal and
external sources of information
(gathering information)
 This is the second step in the decision making process though it’s
becoming dynamic as the traditional ways of gathering information
are often being replaced by modern ones.
 In this stage , information on both stuff and goods as well as getting
other peoples and customers views and recommendations and via
past experiences we may have had with various products.

Evaluation of possible
alternatives
 This is step involving questions regarding available alternative for
satisfying the present need. Question like is this the best product to
satisfy my need? May I be in need of another product? When the
answers are No or yes, stage 2 may start over again.
 After choosing what alternative will best satisfy their need, they will
always pick out the most favoring deal that can be based on factors
like price and quality and any other factor that can be of importance
to them.

Analyze possible purchase alternatives and
decide
 The customer has made decision on the basis of the knowledge they
have gathered on what to buy and where to buy it.
 At this stage a customer has either assessed all the facts and come to
a logical conclusion, made a decision based on emotional
connections/experiences or succumbed to advertising/marketing
campaigns, or most likely a combination of all of these has occurred.
 In my case, I purchased a dairy cattle from authorized farmers group.
This was a bit manageable in the long run in terms of cost
effectiveness and milk quality compared to purchasing packaged milk
every day.

 Post purchase behavior and satisfaction
 It’s always an important stage for both the company and the
consumer as well.
 It’s made to determine if the product purchased delivers the promised
made in the course of marketing and adverting campaigns. It’s made
to prove if the product matched or exceeded the awaited
expectations.
 From my case, the problem I had identified in step one, have all been
solved and the promises I was getting from the cattle farmers are
true and therefore, I can refer this to friends with similar needs.

References
Australian Food news, 2018. Thought for food. [Online]
Available at: http://www.ausfoodnews.com.au/tag/fmcg
[Accessed 3 Dec 2018].
Marshall, T., 2016. Marketing theories-explaining the consumer decison making process. Proffesional
marketing , 76(2), pp. 21-33.
MCDonald , M. H., 2001. "Corporate marketing and service brands-Moving beyond the fast-moving
consumer goods model.". European Journal of Marketing, 3(4), pp. 335-352.
Walters , C. G., 2009. Consumer behavior: A decision-making approach.. South western pub, 44(12), p.
77.