Personal Consumption Journal Project Essay

Understanding the purchasing behavior of a specific demographic is one of the most important sets of research data available to marketers. To develop a strategic plan to present your products in a way that produces the most optimal buying behavior, one needs to understand what the target audience avoids as much as what triggers them to spend their money. (Marketing Land, 2014)

This study is intended to understand consumer consumption habits, loyalty patterns and various influencing factors. Questionnaire was a mix of various demographic and consumption related areas.

Customer behavior in retail stores usually deals with identifying customers and their buying behaviors. The studying of customers helps firms improve the strategies they should use by understanding who buys what, when, where and how. Identifying customer’s behavior must come before any thought of the reasons for their buying behavior.

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).

* Understanding consumer behaviour allows us to engage more effectively with our target market and increase sales

Consumer behavior is the most important factor which we need to concentrate. The more we understand this factor the more success for our business. In our case, we focus on the following elements:

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.

The prediction of a consumer’s personal traits or preferences is very difficult to get right, as it involves many different variables. This is illustrated by the Wheel of Consumer Behaviour devised by Solomon, Bamossy, Askegaard, & Hogg (2010), shown in figure 5.3. In order for a company to make a success of a product, they must be able to account for all the possible decisions and outcomes made by a prospective consumer. The successful planning and anticipation of the desired market needs can

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.

It is important to understand the consumer and their consumption practice/ pattern to deliver any good or service. The key concept of marketing is customer centricity, we cannot ignore different processes in decision making. Understanding the process in making those decisions is central (Blackwell, R.D., Miniard, P.W. and Engel, J.F. (2001)). Lakeland with its new rage and different products in the Indian market is one of the challenges that needs to be solved. The kitchen ware involved in the cooking practices of an Indian consumer is different compared to the UK. Though the practice have evolved from using traditional kitchen ware to modern kitchen ware, consumers need to me made aware of such. India being a country with diverse religion and culture, the consumption habits of each individual is different as compared to the other culture. One of the common difference in the cooking practices as compared to western culture is the use of different and traditional kitchen ware such as clay pots and vessels. There are different theories that help underrated the different consumption habits, In this case practice theory best explains the process. Practice theory can play a major role in understanding the consumption habits and to also understand the current cultural habits. As Randles and Warde( 2006) describe consumption as a habit, routine, ‘constraints, and so on and can be summed up as a recognition of the conventional nature of consumption’

KOLLAT, ENGEL, & BLACKWEL, (1970) investigated the Current Problems in Consumer Behavior. In this study they compared the history of most disciplines; the studied of consumer behavior in its infancy, dating back less than 50 years. Moreover, a significant percentage of their research had occurred during the last decade.

Marketing executives need to understand what consumers want and that the product and services they want are constantly changing. Having a real understanding of consumer behavior will be crucial to a company’s success. Consumer behavior describes the reasons why consumers decide to purchase certain items and how they use and dispose of these products and services they have just purchased. This study also includes the outside factors that can also influence purchasing decisions. There are five steps that consumers follow when buying products and it’s called the consumer decision making process.

Ans The study of consumer behavior enables marketers to understand and predict consumer behavior in the marketplace; it is concerned not only with what consumers buy but also with why, when, where, and how they buy it. Consumer research is the methodology used to study consumer behavior; it takes place at every phase of the consumption process: before the purchase, during the purchase, and after the purchase.

Consumer shopping preference and behavior have a huge effect on the marketing share and benefit. Studying their shopping orientation is helpful in understanding and targeting the costumer; it could be analyzed based on their reaction on certain brands or products. In the demographic information in all class levels of college students 77.8% are female, 22.2% are male. In addition, 63% said their parents paid for them. (Bahng, Kincade, & Yang, 2013). Buying a product of a certain brand is more than just buying a product; that product is a symbol of that brand assigning a different meaning of the product. A brand develops over time. When you buy a product the value of the brand is more than the product. It communicates with people non-verbally. People will receive that message clearly and understand your social status just based on the brand you choose to purchase. In total 320 respondents are participated with the age group of 15-40, which included 162 males and 158 females (Rajput, Kesharwani, &Khanna, 2012). With greater affluence, the children have more opinion about their appearance when it comes to shopping. They are making their own decisions by asking their parents to buy certain brands or specific products based on their self conception. A little over half of the participants are age from 30-34, about 46% were housewives, and more than 43% of the interviewees household income level was