Consumer Behavior Impacts Consumers And Purchase Copycat Products

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

When making a consumer decision-making there are several influences that can affect, motivation, attitude, lifestyles, learning, and perception. A person behavior is a key point since it shows the person within their cycle. As we change daily as family our cycle changes as well. In the US, we have different socials classes, and each of them shows different values, behavior, and way of seen life in

The world continues to develop as technological developments overpower consumers every day. Compared to twenty years ago, consumers now surf the internet, watch television on demand and use mobile phones to view a variety of marketing content instantly. With this in mind, in a consumer behaviour context marketers are in a position to cater to the needs of the consumers’ and can target the consumers’ needs through the use of technology. More so, a consumer is exposed to many facets even when sometimes they are unaware of this. Technology affects the way consumers make decisions because there are many choices exposed to them. Certain consumers may have different psychographic, geographic and demographic behaviours. Marketers cannot make one product or service and cater to all of their needs.

The consumer arrives at attitudes toward different brands through some evaluation procedure. How consumers go about evaluating purchase alternatives depends on the individual consume and the specific buying situation. In some cases, consumers use careful calculations and logical thinking. At other times, the same consumers do little or no evaluating; instead they buy on impulse and rely on intuition. Sometimes consumer makes buying decisions on their own; sometimes they turn to friends, consumer guides, or salespeople for buying advice.

At the bottom of this pyramid lies the indifferent consumer with no brand loyalty. Each brand is perceived to be sufficient, yet the specific brand plays little to no role in the purchase decision. Convenience or a sales promotion is a larger factor when purchasing. On this bottom section, the consumer can be labeled a price buyer. Next, there are buyers that are not dissatisfied with product. There is not a large enough reason to stimulate change, especially if the change will result in effort. This section is termed habitual buyers. They are vulnerable to competition that offers an obvious benefit for switching. However, this section is not looking for alternative options; therefore, they might be hard to reach for competitors (Kombrabail, 2009). Next is the satisfied buyer,

National brands benefit from brand equity and image through their extensive advertising and brand image. Marketing activities can influence the brand image however through pricing and promotions, jingles, slogans and 14 much more. The lower prices of store brands can either be viewed as a competitive advantage or ultimately be associated with lower quality. Brand Loyalty and Store loyalty have an influence on brand purchase choice. Many consumers have loyalty towards certain brands or products and this can be down to their habits and therefore tend to make habitual purchases i.e. purchasing what they always have. Previous research also states that store image also has a major influence on the purchasing behavior of consumers stating that if a store has a nice image and atmosphere then consumers will purchase more of their store brands. Research has also indicated that packaging can be a major influence in purchasing decisions especially at point of purchase and that many store brands try to mimic the packaging of national

Studies in consumer behavior focus on consumer psychology to determine how people reason, feel and think; and choose between alternative products, brands and sellers (Gummesson, 2012). While consumers purchasing decisions are often influenced by culture, family and environmental factors, consumer knowledge is of great significance in informing decisions and in making actual purchases (Gummesson, 2015). The Consumer

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.

The intangible value of a product is largely subjective, therefore is linked to private consumers’ perception. Bearing that in mind, the marketers focus their effort on creating a desired image in the shoppers’ minds, surrounding the conventional products with extra benefits in the form of intangibles such as extended consumer service, recognizable design and social features (Thrassou & Vrontis, 2009). A combination of such features form different brands. So, brands represent the intangible “value-added” to the product. According to an empirical research, conducted amongst 472 Australian students the prior knowledge of preferred brands (brand awareness) is an important part of consumers’ decision making process when purchasing a product. Specifically, 85.5% of subjects chose the familiar brand over others available. Additionally, the study has shown that the choice is made substantially faster (9.8 seconds against 15.1 given the experiment conditions) (Macdonald & Sharp, 2000). Clearly, a product’s brand name, being a classical value of an intangible nature appeared to have played a heavy role in a perceived value of the sample group. Though brands facilitated the process of choice, the final purchase decision belonged to the end-buyers.

In the clothing industry there is a threat for substitute products. With the wide variety of brands and quality of goods provided by the companies consumers can easily substitute the one company’s clothes or goods for another company’s. The preference of the consumers for the brands and quality of clothes or goods they are looking for increases the threat of substitutions in the

Consumer behaviour is the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. The emerging costumer trends play an important role in analysing the marketing opportunities. A consumer buying behaviour is influenced by cultural, social and personal factors. The consumer passes through five stages of the buying decision process: Problem Recognition, Information Search, evaluation of alternatives, purchase decision and post purchase behaviour. This model is important for anyone making marketing decision and customer pass through all stages in every purchase.

According to our text, consumer behavior is defined as “the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society”. This means that companies are using this knowledge to influence consumer’s decisions not only about which product to purchase but also about which college to attend, which charities to support, how much recycling to do, whether to seek help for an addiction and much more. Since the beginning of this course I have been able to see that what I buy is not just a random occurrence, everything I purchase from gasoline for my car to the makeup I wear can be tracked using consumer behavior.

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

➢ Product differentiation - Products that are relatively the same will compete based on price. Brand identification can reduce rivalry.

The behavior in which a consumer keeps buying a product time and again instead of buying products from other competitive companies is called Brand Loyalty. Brand loyalty can often be termed as Customer Loyalty, Brand Commitment, Product Loyalty etc. Brand Loyalty is seen among consumers when they realize that the product is better than the other products that are available in the market. This affinity of a consumer towards a particular product is considered to be brand loyalty. Although, this consumer behavior is not limited to a simple repetition of a purchase, there is also a psychological reasoning behind the consumers’ affinity towards behavior.