Consumer Behavior And Consumer Behaviour

In this course, it is mandatory to do practical study about consumes of a specific company or product. This study and the resulting report was conducted and submitted as a partial requirement for the Consumer Behavior.

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.

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

1. Using the tricomponent attitude model, compare the differences in attitude of consumers towards Kraft Foods versus their attitude towards Vegemite.

Consumer behavior is a mix of economic, technological, political, cultural, demographic and natural factors as well as own characteristics which is reflected by attitude, motivation, perception, personality, knowledge and lifestyle. Only when marketers realize these factors and characteristics, they are able to understand consumer behavior. This has resulted in the classification of these behaviors under these categories – Economic, Social, Demographic, Geographic, Psychological, Product & Technology. (Vikram Shende, 2014)

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

Understanding and acting upon consumer behavior is at the core of becoming a successful retailer. Today’s business environment is packed with competing firms, all seeking to convenience customers to choose them over their competitors. Many industries, such as the soda, cell phone, and washing detergent industry are dominated by a just a few or a sole firm. Therefore, more than ever it is difficult to intervene in the habitual consumption of most consumers. A consumer’s buying process is what must be closely analyzed by any existing or new firm that is trying to become competitive in today’s business environment.

Consumer Behavior can be described in many ways. How does one describe it and just what affect does it have potentially on a community? One can imagine the positive or adverse effects it may have personally or with consumers, however, marketers know that value is the key in order to reach consumers. Our textbook provided the following focus; it states; “This chapter focuses on precisely how the value a consumer obtains from a purchase or consumption act varies based on the context in which the act takes place. Situational influences are the team that captures these contextual effects…” (Babin/Harris, Page 227)

Consumer behaviour is defined as the study of customers and the methods that they take to choose a product or service. Marketers spend millions of dollars in research of consumer behaviour and the creation of consumer strategies. These consumer strategies are used in different industries to improve the image of a company and increase their sales. These strategies increase a customer’s desire for a particular product, and can often confuse them into believing that their product is a necessity. This is how small businesses are able to become wealthy global industries, such as McDonald’s and IKEA.

This assignment is an exploration of the current consumer behavior trends and factors that drive them to buy Green products or relevance of these trends in future

Consumer behaviour includes the studies of any behaviour, internal or external, mental and physical, that influence purchase.

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)

[23] utilize previous research of traditional WOM that had any similarities with E-WOM they develop the new construct into five utilities:

Many acts of consumption are based not so much on needs, but on wants. Understanding the consumer’s behavior and needs are necessary for the