Marketing environment and buyer behaviour

One man sees Pledge, an outstanding furniture polish, while another sees a can of spray no different from any other furniture polish. Once children graduate from college and parents are empty nesters, spending patterns change again.

But in other ways, market studies have shown that they can actually slow, if not sometimes paralyze, a consumer's decision-making process. Walmart is in the process of converting some of its Neighborhood Markets into stores designed to appeal to Hispanics.

The purchasing power of U. Apart from the basic five touch, taste, smell, sight, hearing there are senses of direction, the sense of balance, a clear knowledge of which way is down, and so forth.

Buyer Behaviour Analysis

Individual identifies with the group to the extent that he takes on many of the values, attitudes or behaviors of the group members. Nuclear family is that where the family size is small and individuals have higher liberty to take decisions whereas in joint families, the family size is large and group decision-making gets more preference than individual.

Is on top of the market because of investing highly in research and product development. Thus, the political environment is more possessive Of the cellular standards. Psychographics combines the lifestyle traits of consumers and their personality styles with an analysis of their attitudes, activities, and values to determine groups of consumers with similar characteristics.

L'Oreal Company has to launch the products ranges as per the needs and requirements of the people Dimitrova and Rosenbloom, Consumers are surfing the Internet, watching television, and checking their cell phones for text messages simultaneously.

The family life cycle is a useful rule-of-thumb generalisation, but given the high divorce rate and the somewhat uncertain nature of career paths, it is unlikely that many families would pass through all the stages quite as neatly as the model suggests.

And as a consumer, you have plenty to say about the consumer buying process, from the good to not-so-good. These factors are motivation, perceptions, learning and attitude formations and the different emotional factors.

Not all buying decisions rely this heavily on the gathering of information, and the extent to which a consumer conducts an information search depends largely on the perceived risk of the purchase.

Recent studies have shown that attributes which plays on emotions such as perceived trustworthiness, perceived comfort, perceived excellence or perceived status are the ones that weighs the heaviest in decision making processes.

These factors are major elements which influence the buying behavior of consumers. The final two levels are esteem and self-actualisation. When consumers show an interest in buying a certain product, many of them will follow a decision making process which follows the next steps: This is related to the thinking of an individual person about the products and services of the particular company.

Men and women need and buy different products. Brand awareness plays a huge role in the consumer decision making process. An individual normally lives through two families: Company has to go with the digital marketing strategies because it will easy to target the customer in a large volume.

As technology is growing fast it is a big advantage for Apple because if it continue innovates like today it will be able to keep a pace of the high technology growth in the world.

Consumer Buyer Behaviour

By organizing the rode shows, event and many other things, company can gives the strengthen to its current market strategies Carrigan and Szmigin, A few years ago, KFC began running ads to the effect that fried chicken was healthy—until the U.

So the second stage is where you speak to your friends and surf the Internet cooking at alternatives, which represent stage two — or your information search.

Family is the most basic group a person belongs to. In addition to this, company has to understand the needs of the customers and try to bring the new innovations in the existing products Lamb, Hair and McDaniel. marketing environment and buyer behaviour Words | 14 Pages.

5 Factors Influencing Consumer Behaviour | Explained

or government involvement in trading agreements. Political factors are inevitably entwined with Legal factors such as national employment laws, international trade regulations and restrictions, monopolies and mergers’ rules, and consumer protection.

Consumer Buyer Behaviour

The difference between. Free Essay: Take Home Test – A. The external marketing environment ( words) Choose two environments within the external environment to analyse.

Buyer Behavior Concepts and Marketing Strategy

Consumer Behaviour – The consumer, The KING of the market is the one that dominates the market and the market us know the King first.

A consumer is someone who pays a sum to consume the goods and services sold by an organization. The external marketing environment ( words) Choose two environments within the external environment to analyse - demographic, socio-cultural, economic, technological, natural, competitive and political and legal ( words per environment) Provide a definition of each chosen environment and justify in relation to your product (4 marks.

Chapter 6 Class Notes

Chapter 6 Class Notes Contents of Chapter 6 Class Notes. Buyers reactions to a firms marketing strategy has a great impact on the firms success. Understanding Consumer Buying Behavior offers consumers greater satisfaction (Utility).

We must assume that the company has adopted the Marketing Concept and are consumer oriented. At this stage, the buyer recognises a problem or need (e.g.

I am hungry, we need a new sofa, I have a headache) or responds to a marketing stimulus (e.g. you pass Starbucks and are attracted by the aroma of coffee and chocolate muffins).

Marketing environment and buyer behaviour
Rated 5/5 based on 87 review
5 Factors Influencing Consumer Behaviour | Explained