Consumer Behavior Is Important For Business Firm Development

“The consumers in the fine jewellery market segment are quality conscious individuals who appreciate and understand the prestige and pride of ownership when purchases are made in such companies and markets.”

Customer price and satisfaction Attracting and retentive customers will tough task. Today’s customers face a colossal array of product and complete selections, prices, and suppliers. the corporate should answer a key question: however customers build their choices? the solution is that

After the buyer has evaluated all options to respond to his need, the fourth step is the actual purchase decision, in which the consumer buys the value that he has perceived, sought, and assessed. This step is dependent on the “product’s features and capabilities, perceived value, quality of shopping experience (online or in store), availability of promotion, return policy, or conditions for the sale” (Perreau, 2016). The fifth and last step of this process is the post-purchase behavior, in which the buyer creates value in consumption or use. After a purchase, the buyer will weigh the adequacy of the product/service compared to his original needs that initially caused the buying behavior process. He will assess the choice he made. If the product brings satisfaction, he will be able to use fewer steps in his next purchase decision. There won’t be a search of information or evaluation of alternatives, for example. This lack of purchase decision and immediate buying decision to repurchase will create customer loyalty. On the other hand, if the buyer experienced dissatisfaction, he will repeat the five steps of the consumer buying decision that was just explained.

This paper will introduce Denise’s Scraping with Style (DSS) branding strategy. First, this paper will introduce DSS’ brand name, logo, slogan, and one brand extension. Next, it will assemble a marketing strategy and associated time table to implement the marketing plan. Further, this paper will present a positioning statement, including a perceptual map that shows my company’s position against my competitors. This paper will examine the consumer behavior for my target market, and explain the reasons the brand name, logo, slogan, brand extension, as well as positioning statement and marketing strategy are right for this targeted market. Finally, this paper will develop my company’s mission statement and company

When business do not understand the mind of their target audience they do not generate the type of responses they initially hoped.

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.

Choice in the business is refer to as consumers’ choice and defined as the decisions that consumers make when purchasing products and service (Foxall, 2005). Consumers’ choice behaviour is examine by how consumers make their decision on which products or services to purchase or consume over time. It becomes quite clear that it is a big factor when any individual makes a decision, especially in the era of competitive marketing, where consumers are often spoil with choices and situations where customers are not able to choose well due to the variety choices they have to pick from (Foxall, 2005).

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

In the following section, a literature review upon the issue of customer perceived value will be performed by looking at the key theories developed in an attempt

‘Brand responses’ describe ‘customers response’ towards products with an integral aspect of this being ‘brand judgements and brand feelings’ (Keller, 2001, p13).

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

Secondly IKEA’s ‘cost conscious’ concept offering furniture at a price lower than expected may create faults thought by customers that the quality of furniture offered by IKEA may be inferior compared to other higher priced furniture offered by other furniture

The company chosen to be the focus for the marketing management is the Edible Arrangements. According to Popkova, Abramov, Ermolina, and Gandin (2015). The headquarters of this company are located at Soweto in South Africa. Its mission statement is: “To supply chemical-free vegetables for the benefit of both the customers and the shareholders” (p.16). The act of the former marketing manager developing an advertising campaign before the marketing strategy can potentially affect the company product regarding sales and also increase expenses. This is because when advertising comes before the marketing strategy, it means that the target audience and their needs are not yet known. This will be

Let me ask you first how many times a day does you act like a consumer? If we stop to think about it, we find that the entire day is filled with consumption and consumption decisions. What should I wear, what will I eat for breakfast? How can simple decision be so important to society? Consumers answers these question by choosing the options that offer the most value. Consumer behavior is really all about value. (Babin/Harris, pg1)

When a business or a company wants its products occupy the target market, they have an understanding of the factors affecting the buying behavior of consumers in that market. According to Philip Kotler, there are many factors that influence the purchasing behavior of consumers, however, they were divided into 4 groups: