Absolute Value, By Itamar Simonson And Emanuel Rosen

Word-of-mouth is the major factor to help people make decisions on buying high-involvement products (Gu, Park, & Konana 2012, p. 182).

Consumers are the centre of many marketers work. While the consumer is part of the marketing environment, it is also very important to recognise and understand the more personal and specific influences effecting consumers and the nature of the decision making process they use.

Numerical publications such as, “…32,805 kilofrankles… wearing MagnaSoles for seven weeks, I’ve noticed a significant decrease in pain… I can pay $20 for insoles clearly endorsed by looking up somethingan intelligent-looking man…” are recognized throughout this article to immediately give statistics, numbers, and plausible facts to sell the product. This is a strategy applied in advertisements today to eliminate any doubts in a consumer. This approach however is tremendously risky because of the social groups we have now, online reviews that offers their insights as a first rated costumers of that said product such as Amazon Customer Reviews, Angie’s List, and Choice that can quickly determine whether the product is factual or not.

Consider the last purchase you made in these categories: personal electronics, clothing, and vacation destination. To what extent was your purchase decision influenced by decision-making complexity, individual influences, social influences, and situational influences? What specific issues were the most influential in making the decision? How could a marketer have swayed your decision in each case?

Consumers buying decision making play an important role for the success of every company or organisation. Without the investigation into consumers and their buying behaviour companies and organisation and marketer cannot achieved their aims and objective of their goals in the sale of their product. The purpose of this investigation is to explore the relationship between the consumers buying decision making process and the beverage brand products. (Coca Cola and Pepsi Cola) The data for the research has been collected from the UK one of the biggest town in England know as Huddersfield. The result from the research has determining that in the UK, majority of the consumers prefer Coca cola beverage brand than Pepsi and the research result has indicated that consumers buying decision can significant influence the beverage brand product in the UK market the research continue to say that if coca cola has put more focus on consumers buying decision in the UK know what they expected from them and producer according to their customers demand and try to satisfy their need and wants this can lead coca cola toward the success and increase their profit in the UK market

O.P.E.N. involves on-demand, personal, engaging and networked. Open branding is a brand shifts its communication platform from traditional to innovative. This novel platform allows customers to share their thoughts and ideas directly on the marketer’s website. With the increase number of new technologies, customers are no longer interested in traditional market because the traditional market lacks communication with their customers and this results in lower consumer loyalty for a brand. Open branding strategy gives the traditional market an opportunity to improve their relationships with customers. Consumers want to engage more on market today, and they want their voice to be heard, so many brands shift their strategies to keep their paces in the digital era.

Sociocultural influences evolve from a consumer's formal and informal relationship with other people. These influences in regards to our company include personal influence, family influence, and culture. Personal influence is when a customer’s purchases are often influenced by the views, opinions, and behaviors of others. An example of this is word-of-mouth activity. If a customer likes our product and they start talking to other prospective customers than those prospective buyers will either be influenced to buy the product or they will be deterred from trying it. Many potential customers tend to follow opinion leaders. These are individuals who directly and indirectly influence others opinions based on theirs. Our opinion leaders would be the customers who initially try our product even though we are a newer business. These customers did not need another person's opinion before they tried the baked goods we have to offer. These initial customers are going to have a large impact on whether or not our business gets a good brand image and whether others will follow their lead and also try our treats.

There are also two types of social influences, normative and informative, that can affect a consumer’s purchase decision. A normative influence is the desire to conform to the expectations of another. An informative influence is to accept and trust information obtained as reality. (Bishop & Myers 1974). According to Lam & Meyers 1978, normative and informative influences are both relevant when purchasing a car as an individuals opinions can be influenced by group discussion. It is evident that normative social influences have a greater influence on groups as this is when an individual believes that conforming may have positive consequences and not conforming may have negative consequences. Whereas, informational social influences is often when we care about getting the right answer and trying to be rational. Both normative and informative influences affect the consumer purchase decision of purchasing a car.

Value is also perceived differently between customers, and is relative to the value customers perceive is available from market alternatives (Smith & Colgate, 1988). Customers may choose to shop at Smiggle over alternatives such as Kiki K because they may perceive Smiggle to have similar quality products at a lower monetary cost. Conversely, other customers may not place a high importance on colour and aesthetical appearance when shopping for a pen, and consequently may take their money to somewhere with more standard office pens, such as a newsagent. When assessing value, customers only factor in features of a product which they deem are important (Kotler et., al). Compelling value propositions must be created in order to entice customers and meet their specific demands (Smith & Colgate, 1988). Smiggle offers products that are functional, affordable and are creatively and colourfully designed to inspire fun in school and work tasks. Customers match their expectations to Smiggle’s value proposition, and if a customer believes the product does not hold the benefits it is supposed hold, the customer will be dissatisfied (Kotler et., el). Therefore, Smiggle must either meet or exceed customers’ expectations in order to satisfy them. This process is integral to the ‘mutual exchange’ characteristic of marketing, because companies must gauge demand and then deliver value in

The constantly emerging of product, price, channel and messaging or/and creative differentiators in the business atmosphere inevitably contributes towards one’s product elimination or irrelevant. In those competitive edge scenario, marketers play as the devil advocates in manipulating and provoking consumer’s mind. They’re the one who have all the vital data regarding demographic (size, income, VALs,), purchasing power parity

Everyday, every minute, and every second consumers are making decisions on whether or not they should purchase a given product. The product could be as small as a candy bar to as big as a car. The processes that flow inside the mind of a consumer when making a decision is both psychologically and economically based. So, understanding the process is central to making rationally based decisions. However, this decision is not only important to the consumer purchasing the product, it’s also of important significance to the marketers and policy makers. Reasons why making decisions can be so difficult is that the consumer is dealt with many alternatives, and with the rapid pace in technology this is making it more difficult.

The consumer’s awareness and knowledge of the available brands and features increases as they get more and more information. In designing marketing mix, a company should have the objective of making the target customers aware of its brand. Consumers’ sources of information should be carefully identified and the importance of each source should also be assessed.

The purpose of this report is to use a variety of research techniques aimed at understanding the role that knowledge and group influences have on a consumer’s decision-making process. Additionally, the report will advise a range of recommendations that an inert brand can adopt to guarantee its inclusion in the consumer’s consideration set of brands.

Consumption is a process of acquiring, using and disposing of goods and services. Emotions play a very large role in consumer behavior. This behavior and emotions are affected and created by the society and the culture in which the consumer lives. For example, an American may approach the purchase of a costly car with relatively less pressure than a person in a developing country where a car could be a high unaffordable luxury. The customer will comprehend brands, offers and the meaning of the product based on the understanding that he or she has of similar brands and their experience by analogy or by hearsay from peers and form an opinion. For example a new soft drink from Pepsi may not be very informative in its advertisement but that it is from the stable of PepsiCo makes the users of Pepsi brands take it in without much research. Such an opinion is not based mostly on the complete set of facts. Where there are many alternatives or the information is scarce the customer has to make a lot of effort or 'high effort' to reach a decision and such a situation could be a turnoff. On the other hand the customer may not be inclined to devolve deep into facts in case where the brand value is established and may make a decision on little or even sometimes no information. (Hoyer;

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