Table of Contents
TOC o “1-3” h z u Introduction: PAGEREF _Toc503730093 h 2Section 2 PAGEREF _Toc503730094 h 23)Discussion of two buying situations by critically examining the relevance of PAGEREF _Toc503730095 h 2a) Various psychological variables PAGEREF _Toc503730096 h 2b) Various demographic variables PAGEREF _Toc503730097 h 5Section 3 PAGEREF _Toc503730098 h 74)Choosing the most appropriate decision making PAGEREF _Toc503730099 h 7References: PAGEREF _Toc503730100 h 9
Introduction:In this particular report, the perspective has been assumed as a consumer. The purchase monitoring has been clearly done for next four to six weeks. It has been applied for various areas as all kinds of clothing and supermarkets food as well as Shoes. As a consumer, it is to be reported about all the liable reasons for buying behavior. Consumer behavior is more important concept in any marketing analysis. For getting any clear link among marketing activities and consumer buying volume, buying behavior is to be analyzed. With the advent of different marketing analysis, whole report is being prepared. For getting a fruitful outcome from deliberate analysis, all relevant marketing tools and strategy also have been clearly analyzed. With the analytical viewpoint, this report is well-organized. There are basically two sections as section two and section three. Moreover, in section two, there are two research questions. As a marketing analysis, these research questions are also logically answered.
Section 23)Discussion of two buying situations by critically examining the relevance ofa) Various psychological variablesPsychological variables may contributes a lot in any purchase situation. From different kinds of psychological concepts, different purchase situations may occur. For each of the particular psychology, person to person interaction may vary in purchasing. From this consideration, several consumer buying patterns have been developed. In case of psychological factors, there are several underlying influences. Innovativeness, Novelty seeking and Consumer Creativity (1980). For outlining, these can be pointed out as motivation and need; Perception, Attention, Distortion and Retention; Learning and Conditioning and Beliefs and Attitudes. From the comparative analysis, all of these are discussed in the upcoming discussion. As different types of psychological factors affect differently in purchasing pattern, all of these critically analyzed. Moreover, each of the factor needs separate marketing strategy. First of all motivation and need are to be discussed. This is treated as most important factor. As needs significantly motivate the overall buying behavior, this must be given priority. (Cohen, 1981) For example, one must buy food at his or her feelings of hungry, must take initiatives of protecting gear in case of feelings of safe, selecting a brand cloth for looking stylish, in case of enabling accomplishment and self-improvement education must chose. All of these are basically driven by needs of the party. Nature of need is the more basic need, the greater priority. Advertisement can help a lot to associate need fulfillment. On the other hand, perception, attention, distortion and retention may also be treated as psychological factors to influence consumer buying behavior. The systematic ways in which a person observe world and according that is perception. (Schiffman, 2018). For example, in order to draw attention, one may use surprise, shock tactics and humor or any other mechanism. If one gets attention of others, he or she must induce them. Moreover, repetition of presentation may be considered as an indicator of sticking to information. So, it can be said that, drawing attention is a vital element of psychological factors affecting Consumer buying Behavior. In case of learning and conditioning, these are also applicable for affecting consumer buying behavior. Consumer must act according to his or her learning from different sectors. This learning may come from institutions, personal study as well as real life situation. That obviously differs from all other factors. Form the consideration of different condition, it may also affect in consumer buying behavior. A customer may select a particular goods or services, if he or she faces a different situation. If there is a situation regarding urgency of using specific product, customer must choose the product. For example, if there is a situation of financial crisis, consumer must choose the lower price product. This is being treated as conditioning. In other case, if customer faces any sort of dissatisfaction, he or she must change that kind of products. Beliefs and attitudes may be treated as other important psychological factors regarding consumer buying behavior. In real life situation, a consumer always gets affected by the beliefs while buying any product. So, belief is treated as an important element for psychological factors of consumer buying behavior. (Runyon, 2002) On the other hand, attitudes also treated as important tool for affecting the consumer buying behavior. A particular attitude significantly affect the consumer to choose particular types of products. (Diffusion of Innovations, 1995) For more clarification, if a particular firm contributes to develop one’s value and attitudes, support his or her attitudes, of course this firm’s products will be selected. And in other firm which does not support one’s value, will not be given priority. Advertising can help a lot for developing strong value and attitudes in favor of firm. Without building strong beliefs in favor of clients, no firm can get attraction. Most of the psychological factors are prominent in nature. This cannot be changed easily with any marketing strategy. In order to get advantages of psychological factors, marketers have to design marketing tools according to the perspective of consumer. Consumers have some distinctive characteristics regarding psychological factors. In case of motivation and need, all consumers have intention of fulfilling basic need as well as other luxurious need. For this reason, marketers have to develop the marketing strategy with focusing on these. People are well-motivated via family, peers, friends as well as working environment and academic background. For a marketer, it is necessary to develop strategy regarding consumer satisfaction and consumer drive need, want and demand. In case of consumer perception, marketing tool must be well-focused to fulfill it. In case of customer attention, marketers have to pay concentration to fulfill it. And most important psychological factor is customer retention. Customers must be retained for a long time. If the marketing tool is not designed with considering this, that will not viable for organization. In case of learning and conditioning, marketer has also some influence. Continuous advertising can contribute to well-known for a consumer. In most of the case consumer are known about a product via advertising. If marketers set well-organized advertising, it will surely bring positive outcomes for organization.
b) Various demographic variables
There are some important demographic variables affecting consumer buying behavior. Demographic factors are those types that are mostly linked with personal life. Age, sex, income and education are treated as basic element of demographic factors. Each of these factors contribute a lot for consumer buying behavior. With the advent of each factor, integrated consumer behavior can be analyzed. From the marketing perspective, consumer behavior is driven by various factors. That is differ from one to another. (Kardes, 2015) These differences can be classified as age or marital status, personal education or income level, gender of the participant etc. It can be easily seen as the differences between two types of people in buying goods from different economic level. That is income level of any particular person surly contribute to choose a particular class of product. If the income level of a person allow to spend more, he or she must expenses in accordance to it. On the other hand, if any person feels shortage in cash money, he may also cautious to spend money. (Europe, 2018). For this reason, consumer buying behavior differ from each other. But all time this equation may not remain same. Consumer buying behavior must be changed with the advent of change of each factor. For more clarification, a significant change can be seen from consumer buying behavior, if there is significant change in income level. On other word, if income level of a particular consume change, the buying pattern must also change. A rich man spends more than that of poor. (Perspectives in Consumer Behaviour, 1991). If a man has grown richer or more educated, the buying behavior of his or her must change. Age is also an important psychological factor for affecting consumer buying pattern. It is treated as a remarkable demographic factor affecting overall buying pattern. (Berkman, 1997) With the growing pattern of human being, their needs also be changed. From this perspective, their buying pattern must also be changed. With age differences, needs, wants, demands must also be differing from individual to individual. For example, at the time of youth, people spend most of income in lifestyle. But with the time of growing older, person decreases amount of income among lifestyle. Aged people have to spend most of their income among health in terms of medicine. But in youth age, people spend most of their income in luxurious and lifestyle products. By this way, age is treated as an important demographic factors contributing consumer buying behavior. Moreover, age is treated as most important factors for market segmentation and overall marketing strategy. (Hoyer, n.d.). With the advent of this segmentation, marketer can easily get competitive advantages over other. In each level of age classification, different types of consumer behavior is found. Marketers have to develop product with considering age differentiation. Brands and products choice of people start changing with the growing age of consumer. So, age is considered an important psychological factor affecting consumer buying behavior. A young man’s preferences must differ from an aged people. Age contributes to affect the consumer’s flavor. From the age differences, aged people have more serious selection rather than young people. Moreover, a young person is most of the time fun loving. For more discussion, Chocolates is favorable item for young people and kids but for elderly people it has much lower preferences. Age determines several things. It is a logical relation that, with the changes of income level, consumer behavior also change. Rich people spend their income among luxury and life style things but poor people have to spend most of their income among daily need or most urgent necessary. In age consideration, aged people is less digitally inclined. For this reason, consumption of digital product of this type of people is seem to be less than young people. (Murphy and Dweck, 2016) Sex is also an important demographic factor affecting consumer buying behavior. The gender differences contribute to differ in consumer behavior as well as buying pattern. There are several things that are differ among male and female. This may be in terms of fashion and lifestyle. Fashion of male is not same as female. (Harrell, 1986). There is significant change in female buying pattern with comprising male. So, there is vast differences among choices of male and female. In case of technological as well as digital gadgets, there is lower differences among male and female. Moreover, there is some other products that is not differ among gender. It is a real fact that, most of the households women contribute in making decision about choices. Income is treated as most important tool for influencing consumer buying pattern. Different level of income have surely different types of buying pattern. For explanation, in a middle class family, most of the decision for buying is based on utility. Level of income defines what kinds of products to be purchased regularly. Person who have high degree of disposable income, can spend income into tours and travels. Innovativeness, Novelty seeking and Consumer Creativity (1980). Education is treated one of the psychological factors affecting consumer buying behavior. Person who have strong academic background must differ in buying pattern. As in modern era, education is becoming an important determinant of social class, educated people have some distinctive buying pattern rather than uneducated. Europe, P. (2018). Most of the time educated people spend time in deciding about wisely buying.
Section 34)Choosing the most appropriate decision makingIt can be weighted among different decision making models. Consumer decision making pattern contribute a lot for marketing strategy. (Mandel et al., 2017) From the consideration of different marketing research, it can be pointd out that well-established marketing strategy contribute to high profitable situation for any business firm. In case of given data, some remarkable points of decision making are critically analyzed in the upcoming discussion. Basically consumer buying decision process is a systematic way to define how consumer travel among different stages. It is the way to select a superior product from all other similar goods. Decision making process is consist of several steps by which a buyer can satisfy a need. This decision making process also includes solving problem. The overall process of consumer decision making may be outlined as need or problem recognition, information search, evaluation of alternatives, selection as well as trial and finally purchase decision. There is also post purchase dissonance or post purchase behavior. Need or problem must be recognized first of all. With the need recognition overall consumer buying decision process is started. Basically, this is remain in the customer mind. There is various stimuli regarding motivation of need recognition. The stimuli may be as internal as well as external. From the need recognition, consumer have to satisfy his or her need. In case of problem facing, the problem must be solved. With the recognition, next step is happen. That is information search. Consumer have to solve the problem or in the other case fulfill the need. Consumer search for all relevant information to solve the problem. By this way, consumer can find for possible solution. Information may be gained from different sources. These are as family, friends or peers etc. This is treated as personal sources. Another important sources of information is commercial sources. This may be in terms of Television, radio, newspaper or internet sources. Consumer seek for relevant information within these sources. The next steep of consumer decision making process is selection and trial. If there are several collections of choice, customer have to go for trial each. There may also be as buying small amount of product. Solomon, M. (2017). In case of other, he or she uses the product for short time. After getting positive or negative impact, consumer go for next step. In case of positive impact product, consumer take the decision of purchase decision. It can be more defined as with the strong belief of customer, purchase decision and retain in the long run occurred. Final step of consumer buying process is suggested as post purchase dissonance or behavior. (Wells, 1996). There are different types of post purchase behavior. If actual performance is same to expected performance, customer behavior will remain natural. In case of actual performance is lower than expected performance, customer will surely dissatisfied. In case of actual performance is higher than expected performance, customer will highly be satisfied.
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