Consumer Behaviour & Insight: Market Research Approaches

This report provides a comprehensive analysis of consumer behavior and insight, focusing on the consumer decision-making journey with specific reference to Marks and Spencer. It explores the stages of decision-making, factors influencing consumer needs in both B2C and B2B contexts, and the importance of mapping the path to purchase. The report also delves into the application of the black box model, the implications of the marketing mix, and a comparison of decision-making processes in B2C and B2B scenarios. Furthermore, it evaluates different market research approaches, discusses consumer personas, and examines how marketers can influence decision-making stages. The document also touches on psychological theories such as ego, superego, self-image, motivation, and Maslow's hierarchy of needs, concluding with practical suggestions for enhancing competitive advantage. Desklib offers this and many other solved assignments to support students in their academic endeavors.

Consumer behaviour
and insight

EXECUTIVE SUMMARY
The consumer behaviour is considered as attitude of customers towards the business and
its different aspects. It is important for the business entity to focus on consumer behaviour in
order to lead the marketplace. In this project various dimensions of consumer behaviour are
taken into consideration to deeply analyse market trends. This report also includes application of
black box model for understanding consumer needs in a well defined manner.

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................5
Explain and analyse the stages of the consumer decision-making journey for a given
product/service............................................................................................................................5
How the Marks and Spencer company choose suitable factors for understanding needs of
customers(B2C)..........................................................................................................................6
Explain why it is important for marketers to map a path to purchase and understand consumer
decision-making..........................................................................................................................7
The application of decision-making process...............................................................................7
Black box model of decision-making:........................................................................................8
Why the model is known as black box model.............................................................................8
Implications of marketing mix and model to develop effective approach at the marketplace:. .9
Analysis of consumer decision-making journey and path mapping with assumptions and
suggestions................................................................................................................................10
Compare and contrast the key differences of the decision-making process in the context of
B2C and B2B, providing specific examples.............................................................................11
Evaluate the different approaches to market research and methods of research used for
understanding the decision-making processing both B2C and B2B contexts...........................12
Consumer persona.....................................................................................................................15
How marketing uses consumer behaviour to develop target market........................................15
Evaluate how marketers can influence the different stages of the decision-making process of
B2C and B2B, giving specific examples...................................................................................17
Explanation of Ego and superego along with marketing application of this theory ................18
Concept of development of self-image in order to create competitive advantage at the
marketplace...............................................................................................................................18
Motivation and its dimensions for the company along with maslow's theory and personality
theories for Marks and Spencer.................................................................................................19
CONCLUSION .............................................................................................................................22
REFERENCES..............................................................................................................................23

INTRODUCTION
The consumer behaviour is related to the traits and characteristics of customers which
determine the purchasing attitude of the customers (Agu, 2021). It is important for a business to
focus on developing positive customer behaviour for the increase in sales and turnover. In the era
of stiff competition between different companies, it is important to maintain precise customer
behaviour in order to create customer satisfaction. In this report example of Marks and Spencer
is taken into consideration for better understanding consumer behaviour in a precise manner.
Marks and Spencer is an international business retail firm which is based in United Kingdom.
The company provides cloths and accessories to different customers and business organisations
with effective management operations. In this project the consumer decision-making process is
covered along with the difference in B2B and B2C decisions. This project also covers different
approaches to market research for identification of different target customers.

MAIN BODY
Explain and analyse the stages of the consumer decision-making journey for a given
product/service
It is essential for Marks and Spencer company to develop and analyse the different stages
of consumer decision-making journey for better growth of business. In the functioning of Marks
and Spencer, the research and development should analyse, consumer decision-making journey
with the help of marketing management (Amin, 2017). The different stages of consumer
decision-making journey for Marks and Spencer are mentioned below:
 Problem recognition- This is the first phase in the consumer decision-making which
includes identification of the problem associated with the product or service. In this stage
a customer identifies problems in a significant manner to find optimum solutions in a
short span of time. In this stage Marks and Spencer should provide solutions to the
problems of customers by understanding their problem in a deep manner. This is also key
role of a business to establish empathy with different customers in order to gain their
loyalty and trust.
 Information search- The information search is a compulsory step in the consumer
decision making which facilitates the decision-making. In this approach, a customer
performs market survey for searching whole information related to a project. Marks and
Spencer should take help of information and technology to develop information search in
order to solve identified problem. In this approach Marks and Spencer should promote
product and services in front of the customers to ease their search.
 Purchase decision- This is the most important stage in the consumer decision-making
process which includes formulation of purchase decision. The purchase decision
identifies which product or service a customer has to buy in order to satisfy needs.
Purchasing decisions related to clothing are made by different customers
 Post purchase evaluation- The post purchase evaluation is done by a customer in order
to identify the relevance of product. In this approach, a customer evaluates product and
service along with its utility in the marketplace.

How the Marks and Spencer company choose suitable factors for understanding needs of
customers(B2C)
The Marks and Spencer company analyse key factors that are related to understand need
and demand of different customers. It is major responsibility of a business to focus on key
factors which are mentioned below:
 Buying trends- A business should understand the buying trends of different customers in
order to develop a major product selling strategy. Marks and Spencer company takes help
of marketing management and strategic management to focus on wants and demands of
different customers.
 Market competitors- This is also an important for a company to focus on current aspects
of marketing in order to lead the marketplace. Marketplace competitors and strategies
used by them are helpful for a business to understand demand of different customers. In
the recent times, a business should also focus on analysing key market forces which are
impacted because of competitors.
 Psychology of customers- The main factor which helps in understanding needs of
customers is related to their mindset. In order to change mindset of customers, it is
important for the company to deeply analyse psychology of customers. This helps in
development of sales revenue and turnover.

Explain why it is important for marketers to map a path to purchase and understand consumer
decision-making
In the marketplace, it is very much important for a business entity to map a path to
purchase and understand whole decision making. The importance of mapping purchase path and
decision-making of customers for Marks and Spencer is mentioned below:
 Increase sales volume- The business entity can easily increase in sales volume by
developing a precise approach in understanding decision making. The sales targets are
also achieved by a business in a short span of time by understanding whole consumer
behaviour. A company should also focus on understanding decision-making in order to
maximise the annual turnover of the company.
 Increase customer satisfaction- The main priority of a business is to satisfy customers
by using different approaches (Çal, 2020). Marks and Spencer increases the satisfaction
of different customers by understanding needs and wants. Increasing the customer
satisfaction creates dynamic business which helps in fulfilment of desired wants and
needs of different customers.
 Business development and revenue- Understanding the customer needs and wants leads
to business development which is topmost priority of a business (Johnstone, 2018). The
companies in international and national market takes support of professional strategic
management to develop major functions which are important in overall development of
the business.
The application of decision-making process
It is crucial for a business entity to focus on decision-making process in order to develop
effective advantage in maintaining customers. The application of consumer based decision
making is essential for development of a business in a set period of time. Most of the successful
national and international companies focus on development of significant approaches for
development of decision-making process. In order to develop effective decision-making, it is
necessary for a company to focus on different aspects of techniques and tools that supports
formulation of decisions. The decision making process of customers is mentioned below:
 Plan- Planning is a major part of any function related to a company in order to formulate
major practices for purchasing a product. In the primary phase it is essential for entity to
plan for key development initiatives. All major companies in international marketplace

majorly plan for a meeting expectations of customers. Planning includes analysis of
products and services of a company to develop a decision making based on pricing and
quality of product.
 Discussion- In this phase customer discuss with other sources related to a product and
then finalise a product. This is also a major type of phase in organisation in order to
develop effective decisions.
 Decisions- The decision-making is performed in this phase, when customers takes actual
decisions of the company. Main decisions are taken by consumers generally not change
due to decision making in the company. All decisions are taken on major basis by
customers for effectively dealing with major customers.
 Implementation- Implementation is also a major approach, in customers finally buy the
product from marketplace. Also in this stage a business earns profit if its services are
based on optimum quality.
Black box model of decision-making:
The black box model of decision-making focuses on key approaches that are based on
understanding buying behaviour of customers. It is important for a business to understand black
box model for overall development of a business organisation. In the recent times, importance of
understanding consumer behaviour has increased with help of models and theories. In the era of
stiff competition between different global and domestic companies, it is most crucial for a
company to focus on buying behaviour of customers. In black box model, things and responses
which impact on consumer's buying behaviour are considered. This helps in establishing a major
approach for a business entity in order to develop focused goals and objectives. It is also major
responsibility of management to focus on black box model for understanding psychology of
customers.
Why the model is known as black box model
The model is known as black box because it clearly targets mindset of different
customers in order to develop effective approach. Black box model is considered as a major
approach which is helps a business to analyse stimuli related to inside thinking of customers.
This approach supports a business to serve customers in a different manner for long term growth
of company. The application of marketing mix is given below:

 Price- Price is considered as an important factor which is related to value of commodity
in the marketplace. Marks and Spencer company decides affordable pricing for its
products and services to attract large number of customers.
 Place- The place is related to geographical location selected by a business in order to sell
produced goods at the marketplace. It is necessary for a business to focus on selecting a
good place for selling a product for development of more and more customers. Marks and
Spencer company selects good location in different countries to increase sale of different
products and services.
 Product- Product is considered as the physical output that is developed by a company in
order to satisfy wants and needs of different customers. The product should be also based
on effective quality in order to increase its market value and strength of company. In the
current scenario, product is considered as major unit which is sold at the marketplace for
satisfaction of customers.
 Promotion- Promotion of a product includes advertisement campaigns and publicity
which is performed by a business. This approach helps Marks and Spencer to circulate
crucial information related to products and services.
Implications of marketing mix and model to develop effective approach at the marketplace:
 It helps in development of a company by expanding scope of a business at the
marketplace.
 These techniques are helpful in increasing competitive strength of a company and
increase profitability.
 It supports a company to analyse various marketing trends that are going on in
contemporary business marketplace.
 The application of marketing mix also helps a company to briefly focus on promotion of
a product to increase consumer satisfaction.

Analysis of consumer decision-making journey and path mapping with assumptions and
suggestions
It is essential and compulsory for a company to focus on whole consumer decision
making journey for long term growth of business. The consumer decision-making journey also
helps a business entity to deeply analyse different market forces. In the first stage it can be
assumed that it is important for a business to analyse key factors that are associated with
behaviour of customers. It is also one of the key role of Marks and Spencer company to promote
different practices that are based on understanding consumer behaviour. In the second stage,
consumer search information related to a product or service in a set period of time. For handling
this, a business should prefer to provide an in depth information about products and services.
Marks and Spencer should provide brochure to its target customers on the basis of products and
services. Third stage of consumer decision-making journey includes focus on implementation of
business plan to influence decision-making of customers. In order to promote clothing of Marks
and Spencer information and technology is taken into consideration for performing fast and
accurate functions. The business entity should also take feedback from different customers in
order to increase quality and modifications in different aspects.

Compare and contrast the key differences of the decision-making process in the context of B2C
and B2B, providing specific examples
The decision-making process of a business is most important in a business as it includes
synchronisation of different functions for development of the business firm (Khan, 2020). The
decision-making process differentiation is mentioned below:
 Business to Business- The business to business decisions are important for the whole
business entity as they are major decisions. The decision-making process in business to
business approach are professional in nature. In most of the cases business to business
decisions are formulated by top level and strategic management (Mandić, 2020). The
business to business decisions also needs approval from board of directors in the
business. These are professional decisions which require consent of different levels of
management. For example, in Marks and Spencer company decisions like providing
outsourcing of business operations are counted in business to business decisions.
 Business to consumer decisions- These decisions are important for Marks and Spencer
in order to attract large number of customers for the business. The business to consumer
decisions are not professional but simple in nature as they include less efforts and hard
work. These decisions are taken by a company to attract target and general customers. In
a business, the business to consumer decisions do not require any approval from board of
directors. In a business entity, these decisions are also related to develop a normal
strategy in order to sale products or service to major customers (Mendon, 2020). For
example, the product and pricing policy are some business to consumer decisions which
are taken by business organisations.
Comparison of different B2B and B2C stages with differences like time, number of people
involved, importance of rules and procedures in B2B and B2C along with black box model
In the functioning of a business it is essential to focus on both the aspects of business to
business and business to consumer approaches. The time consumed in business to business
approach is more as there is an involvement of major transactions and operations. On the other
hand, in business to consumer approach time involved is less as there is quick purchase by
customers. The number of people who are involved in business to business technique are
relatively low as compared to business to customer approach. In both the cases it is important to
focus on various rules and procedures which are to be followed by a business. Marks and

Spencer follow various policies and rules to serve different types of customers and perform
business transactions. It is important for the company to follow set of rules and procedures for
conducting legal and ethical business at the marketplace.
In the working of a business, there is very less involvement of black box in business to
business approach. In the business to customer approach, black box is used in an advanced
manner to deeply analyse various aspects of decision-making. The mindset and psychology of
different customers are identified easily with the application of black box model. In the different
stages of consumer journey, five stages are most important which are to be considered by Marks
and Spencer in a set period of time.
Evaluate the different approaches to market research and methods of research used for
understanding the decision-making processing both B2C and B2B contexts
The different approaches to market research which are major in understanding the
decision making process in B2C and B2B:
 Market survey- This is the most appropriate manner or technique to develop research
about target market using different tools and techniques. In this approach marketing
management of Marks and Spencer performs a market survey of whole market in order to
develop different objectives and sales target (Mou, 2018). Market survey helps the
business to define sales target and achieve them with appropriate marketing strategy.
 Customer feedback- In the market research, there is a major role played by customer
feedback as it includes the suggestions from customers. The Marks and Spencer takes
into account regular feedbacks from different customers in order to prepare marketing
plan. Customer feedback is important for a business to develop a perfect strategy which is
helpful in increasing the satisfaction of customers.
 Employee feedback- In most of the successful companies in international marketplace,
employee feedback is also important for development of market research. The companies
in international market also takes into consideration advice of different employees to
formulate desired strategy. Employee feedback is important in order to develop major
elements related to market research (Mydock III, 2017). This approach helps a business
entity like Marks and Spencer to take into consideration advice of employees which
indirectly helps the company to develop professional planning.