If more information is needed after the internal search, the consumer may consult external information sources such as friends and relatives for word-of-mouth; marketing information; comparison shopping; and public sources. A successful information search leaves a needy consumer with possible alternatives collectively called the Evoked Set. Armed with the evoked set, the consumer embarks on the third stage of the buying decision process: Here, the consumer may need to establish the criteria for evaluation, such as features of the product or service that the buyer wants or does not want.
The consumer may rank or weigh the alternatives to arrive at a choice, or resume searching if a satisfactory choice is not arrived at. Information from different sources may be treated differently. The fourth stage in the consumer buying decision process is the purchase decision. Here, the consumer selects from the available alternatives, making decisions on details such as the specific product or service, its packaging, retail outlet and method of purchase.
The fifth stage is the purchase, which at times occurs simultaneously with the purchase decision. Sometimes product availability issues may cause a time lapse between the purchase decision and the actual purchase. The sixth and last stage in the consumer buying decision process is post-purchase evaluation also known as post-acquisition evaluation , which may occur to the buyer consciously or subconsciously.
At the end of his or her evaluation, the buyer may experience satisfaction or dissatisfaction. Dissatisfaction may result from many factors, such as unmet brand expectations, and at times may lead to the consumer lodging a complaint. A satisfied consumer may end Consumer Behavior Overview In marketing, consumer behavior is the study of the acquisition, consumption, use, and disposal of products, services, experiences, or ideas, by consumers. Therefore, he has limited budget and sometimes has to shorten on the other parts to satisfy a particular purchasing like to purchase a pair Timberland shoes that is priced at RM Age is a powerful determinant of consumer behavior.
And they will shift to more qualitative than quantitative on choosing things. Like other guys, Steve does care about how people feel about his looks especially the girls, the well-known brands and mid-to high priced products become the most popular alternatives from his point of view even though there is not enough money budget.
And his budget is getting better too. There is more budget for him to use to purchase things that he likes, but he mentioned that a pair of Timberland still a big purchasing item for him.
Life-style is measured by the attitudes, interests and opinions of consumers. Steve has a positive attitude about life, although he worries about some common problems and situations that people worry at the same age. He always tells people — do not buy things depend on the price cheap or not, but to concern whether that product has the extent value for future and long term. Products that he wants to buy all depends on such a belief. He is some in principle oriented type, these individuals are guided in their choice by their beliefs and principles rather than by feeling, events or a desire for approval.
So he is some in the action oriented experience type. If the company has selected its target market and position carefully, then its marketing mix strategy, including price, will be fairly straight forward. The objective of timberland is product quality leadership. They decide the products have to achieve product quality leadership. Timberland targets their athlete series mainly on the people aged years. And the most important thing is this group of people they are easy to learn about the new information or to accept the new features about the product, that means, easy to change to the new product that the company introduce, they are also willing to pay such a high price compares with other brands.
Usually, when people mentions about Timberland, the good quality comes first and then the high price. Therefore, the information about the timberland that people ready kept in mind a certain point. I pay for it because it worth.
Steve bought the shoes in a franchised store of a big shopping center and he mentioned that the previous purchasing was in KLIA franchised store. The reason why Timberland put the stores in big shopping center and airports still because of its targeting and product positioning.
They identify and analysis the segment of the market, the targeting customers are those who are in the higher standard level of living class the places they normally go for shopping things are also in the higher standard place.
There are a few of competitors in the marketer, but Timberland stands on several competitive advantages. At the first, it has the much higher quality than its competitors compare under the pricing, then they give the very good and comfortable environment to their customer in every store, this is a important inference; they also give the excellent services after the buying like you can bring your Timberland shoes to any of the Timberland store to clean them for free and if something wrong with the shoes they will repair it for free, in some situation the customer may get a new pair of shoes for replacement.
After all this through a longtime period, people will remember timberland as a trusted brand. Part 3 Consumer decision process As usual, the customer decision process begins with the problem recognition.
A difference between an existing state and a desired one become a consumer problem, a consumer begins with a particular state of mind that represents his or her perceptions of and attitudes forward known brands.
For example, consider a business school student who is thinking of purchasing a personal computer. Once the problem has been recognized, an information search is undertaken to isolate an effective solution.
After the information has been gathered, allowing the consumer to determine and compare the relevant and feasible alternatives, the decision can be made. The attributes that influence store choice are examined, and related to the needs of particular consumer groups.
The actual acquisition of the product is analysis, with particular attention given to retailers efforts attract and satisfy consumers in the exchange process. The consumption process occurs within 3 categories: Refer to table 1. Refer to table 2. Purchase involvement is a continuum, and it is also useful to consider habitual, limited and extended decision making as general decryptions of the types of process that occur along various points on the continuum.
Extended decision making is the response to a very high level of purchase involvement shopping product. The recognition of a problem is the result of a discrepancy between a desired state and an actual state, without if there is no need for a consumer decision. Both active and inactive problem occurs in the consumer problems. Information search involves mental as well as physical activity on the part of consumers. The use of information from memory is referred to as internal search.
And, the search process is focused on external stimuli relevant to soloing problem is called external search. A consumer decision requires the appropriate evaluative criteria for the solution of a problem. The existence of various alternative solutions the performance level or characteristic of each alternative solution on each evaluative criteria. Indeed, as brands develop communities of followers that strongly adhere to brand loyalty, potential competitors, are more inclined to shy away Thompson This pronounced influence of brand communities implies that brand loyalty is a significant aspect of consumer behavior that companies take into account when exploring new market opportunities.
Brand loyalty also fosters a sense of less risk because their inclusiveness into a group that shares their beliefs is a form of validation. This validation within a social group suffices in lowering the perceived risk because the community as a whole is practicing it.
One example is motorcyclists who buy bikes from the same brand, say Harley Davidson, and ride together, forming a brand community. The community will favor their brand of motorcycle over all others, and it is likely that they would remain loyal to Harley Davidson. They might also come to perceive other brands of motorcycle as a risk because they do not have the same communal, established confidence in those competitors. In other cases, the company itself will attempt to propagate a brand community.
Facebook provides an interesting and complex example of that attempt. Facebook is essentially one large brand community. Competitors are often squeezed out of a burgeoning market because the Facebook brand provides the largest community, and therefore instills the most confidence in the consumer, who will become more averse to competitors. Social implications are extremely relevant to a discussion of consumer behavior.
The West is already firmly established as a consumer society, and other countries worldwide are following in suit. Perhaps there is even a mass cultural movement towards consumerism.
Economic circumstances are certainly not to be ignored; however, they apply more to risk aversion than they do brand loyalty, while social conditions implicate both. Surely, the economic foundations of risk aversion and decision making based on notions of basic economics do not apply Chapman et al.
Instead, brand loyalty can be used to establish individuality, as well as to form consumer communities. In both cases, the consumer consciously or subconsciously attempts to reduce perceived risks through consistency and commitment.
Brand loyalty also operates as a cultural framework whereby consumers feel much more comfortable with using a single brand for long periods of time. Though Hofstede refers to general social structures, it can be related to consumer behavior because consumer behavior also operates on both levels.
On one hand, consumers use brand loyalties to establish an individual social identity, and on the other hand, they form collective units to strengthen those loyalties, and alleviate risk aversion. When analyzing consumer behavior, it is important to consider how and why consumers take more or less risks. Brand loyalty is in many ways an attempt to alleviate risk, and a consumer loyal to one brand may be uncomfortable with uncertainty surrounding that product, and therefore makes a singular brand choice and sticks with it Hofstede.
This surely reflects the cultural means in which individuals make lifelong decisions for using certain products and services. By referring to Hofstede, the article was able to contextualize its cross-cultural examination of brands, and their sway on consumer decisions.
Consequently, international brands have to rely on pre-existing theories in order to evaluate the potential brand loyalty and risk aversion of a new customer base. The access to global data with respect to market research and online behavioral patterns also validates the notion that pre-existing patterns can serve as forms of actionable insight into how a new market will potentially respond.
Brands are deeply concerned with the loyalty of their customers. What can they do to generate and maintain brand loyalty amongst consumers? How is this achieved? Can widespread brand loyalty allow a brand to survive and even flourish in when confronted by obstacles? Marketers must ask these questions if they desire to use tendencies in consumer behavior to their competitive advantage. Studies have provided a few different approaches to establishing a solid base of loyal consumers.
The author, David Aaker, used cars as a brief example: Winning the brand preference competition for the Cadillac brand, involves making sure that Cadillac is preferred to Lexus and BMW. That usually means being superior in at least one of the dimensions defining the category or subcategory and being at least as good as competitors in the rest Surely, excellence within one specific sphere of a product is essential in differentiating itself from other competitors.
Moreover, in the case of SUVs it could be anything from horsepower to fuel efficiency, second-row legroom, etc. However, according to Aaker, this method is generally ineffective because the customer is not always willing to do the due diligence and separate specific distinctions between similar products, even if integral differences exist.
Brand loyalty is rarely propagated by a small selective feature, and the consumer is not likely to commit to Cadillac vs. BMW based on the fact that one has more legroom or fuel efficiency than the other.
Hence, it would be more effective to create a persona that consumers can positively identify with such as Mac did in the advertisements mentioned earlier.
Here, the author explicitly pointed out the social constructs that affect consumer behavior. Aaker asserted that brands should pay attention to those social components of consumer behavior in order to successfully attract brand loyalty.
The study of consumer behavior involves elements of economics, the social sciences, and the physical sciences. An endless and diverse field of research and applications, consumer behavior.
Part 1: Executive Summary This research paper explains the decision making process, the internal and external factors that have influences a "high involvement".
This sample research paper written on consumer behavior will help improve your understanding of branding and risk aversion in marketing.5/5(1). Free consumer behavior papers, essays, and research papers.
Essays - largest database of quality sample essays and research papers on Research Papers On Consumer Behavior. Future studies of the consumer behavior research literature can also investigate authorship of the articles, including which authors have had what impact on the discipline and which scholars from which institutions have been productive in terms of consumer behavior publications.