Ryanair's Consumer Buying Behavior: Decision-Making Process Analysis

This report examines Ryanair's approach to understanding consumer behavior and its impact on their business strategy. It delves into the consumer decision-making process, highlighting key steps such as need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. The report emphasizes how Ryanair leverages consumer insights to provide low-cost, no-frills air travel, catering to specific customer needs and preferences. By analyzing Ryanair's strategies, the report underscores the importance of understanding consumer behavior for achieving competitive advantage and sustained profitability in the airline industry. The document concludes that continuous innovation and a focus on consumer needs are essential for long-term success in a competitive market.

RYANAIR

Table of Content
– Introduction
– Consumer buying decision-making
– Consumer decision-making process and behavior
– Application of the consumer decision-making process related to Ryanair
– Consumer buying behavior
– CONCLUSION
– References

INTRODUCTION
– Consumer is the king of the market and its imperative for every organization,
big or small to identify consumer's needs and wants and then develop a product
accordingly in order to become successful and to maximize the profits.
– Ryanair is an Irish budget Airline founded in the year 1984 by Tony Ryan,
Christopher Ryan and Liam Lonergan in Dublin, Ireland. Ryan Air is famous for
providing low cost flight services to its customers and it currently employs more
than 17,000 individuals all around the world.
– The current report will focus on consumer behaviour, decision-making skills and
other factors that helps the customers in choosing Ryan Airlines over other
business organizations.

Low cost, no frills air travel to
European destinations
– The consumer buying decision-making process is concerned with the journey
than an individual goes through before buying the product or service. It includes
various steps like problem recognition, information search, evaluating the
alternative courses of action, purchasing decision and the post-purchase
behavior (Thomas, and Thomas, 2015).
– Ryan Air studies the consumer buying behavior and then influence their
decision-making skills by developing products and services accordingly.

Consumer decision-making
process and behavior
– Problem/need recognition: The first step is concerned with identification of problems
by consumers. Consumers often face problems in their day to day lives which further
leads towards the development of a need.
– The need must be triggered by internal stimuli (hunger or thrust) or external stimuli
(advertising or strong word of mouth).
– The customers have been facing problems related airline as they were expensive
which helped the Ryanair to identify the needs and wants of their target audience and
then provide them with low cost, no frills air services (Caputo, and Borbely, 2016).
– It not only helped in consumer satisfaction but also led to an increase in their market
share.

Application of the consumer decision-
making process related to Ryanair
– Problem/need recognition related to Ryanair low-cost, no frills air travel: Many
consumers face problems related to selection of an appropriate economic airline
for both domestic and international purposes as most of them are quite
expensive and also offer additional services that are not required by the guests.
– Ryanair analyzed the problems faced by its target audience and then developed a
product/service according to their needs and wants. The multinational airline
company provides airline fairs at a competitive price which has further helped
them in increasing their market share and customer base.

Consumer buying behaviour
– The consumer buying behavior is influenced by the attitudes, preferences and
decisions made by the consumer in a market place before selecting a product.
The consumer buying behavior provides solutions to various questions related to
why did consumer choose the product, what influenced their decision and other
changing factors in the society.
– It is imperative for organizations to understand consumer behavior especially
for companies that operate in a highly competitive market like Ryanair as it
would help them in achieving competitive advantage and increase there revenue
in the long run.

CONCLUSION
– From the above report, it can be concluded that it is the duty of every
organization, small, medium or large scale to understand consumer behavior if
they wish to achieve profits in the long run.
– Also, it is important to innovate incessantly through research and development
as it can help in attracting new consumers and thus increasing the customer base.
– The report emphasized on Ryanair, an Irish Airline company famous for
providing low cost travel services in 220 destinations all around the world.
– Also, it focused on the consumer buying and decision-making process that
included various steps like need recognition, information search, evaluation of
alternatives, purchase decision and post-purchase behavior.

REFERNCES
– Ahmed, J.U., and et.al., 2019. Ryanair: A low-cost business model in the
european airline industry. SAGE Publications: SAGE Business Cases Originals.
– Caputo, A. and Borbely, A., 2016. Ryanair’s negotiation capability and the
firm’s strategy.
– Hardwick, J., and et.al., 2015. Mobile Phone Purchases and the Consumer
Decision-Making Process: The Role of Facebook Online Advertising. In
Computer-Mediated Marketing Strategies: Social Media and Online Brand
Communities (pp. 303-333). IGI Global.
– Martindale, A. and McKinney, E., 2017. Make or Buy? The development of a
Consumer Decision Process Model for home sewers.