INTRODUCTION
In this assignment the author has broken down in detail consumer buyer and Organization behavior in the concept of marketing analysis on the basis of existing theory
The subject will analyze the concept of consumers and organization buyer behavior with the aid of some example on the securities industry.
Consumer Buyer Behaviour
According to Armstrong and Kotler (2013) consumers buyer behavior means the purchasing operation of consumer for their final good and service for their kin and their personal household is used for consumption, consumers combine together to build up consumer market.. Consumers are the ones who eat the final products; commodities and service produced by manufacture and spread by a provider according to Armstrong and Kotler (2013). Consumers around the world are varied tremendously in their age; capital, training level and preferences, Consumers due related to certain products which deliver an impingement on their choice, different type of food and service for their final needed and requires. They purchase what they desire to purchase,
According to Jobber (2010). Organisation buyer behaviour means the buying process which organisation use to buy raw materials, for goods and service to manufacture them in to finish goods and service as their final products, for their consumers and suppliers in the market. When it comes to the buying of doe’s raw materials, final decision has to come from organisation purchasing officers to make decision. They will determine which type of products they want to buy. For example if an organisation wants to buy desktop printer from the UK market. There are many factors which they put into consideration. It’s very urgent to buy it, what purpose should they...
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...stomer it will be necessary to them spend their income to buy those items. The most attractive ways for companies to make good selling they should have good marketer.
According to research conduct by (Mintel 2010) one of the UK best business sale company known as comets has been making wonderful sales and his profit has been growing consistently since 2003/04. But they fell by 4.7% to 2008/09. Comets work directly under their group plc. As
Works Cited
Armstrong, G. and P. Kotler (2013). Marketing: an introduction, Pearson. jobber, D. (2010). Principles and practice of marketing, McGraw-Hill.
Solomon, M. R. (2002). Consumer behavior: buying, having, and being, Prentice Hall http://www.sykronix.com/tsoc/courses/sales/sls_org.htm Doyle, P. and P. Stern (2006). Marketing management and strategy, Financial Times/Prentice Hall
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UK mantle Comet
www.comet.co.uk
Consumer behavior is the ways that consumers exhibit in searching for, purchasing, using, evaluating, and disposing of, products and services. The study of consumer behavior as a separate marketing discipline all started when marketers realized that consumers did not always react as marketing theory suggested they would (Ekström, 2003). Many consumers rebel at using the identical products that everyone else used, instead they prefer differentiated products that they feel reflect their own special needs, personality and lifestyles.
The study of buyer preference depend on the “observation method” which tend to be less costly or least expensive way understanding behaviour. The selective enquiry measure undertaken in studying buyer preference with the assistance of questionnaires. Questionnaires usually determine the varied behaviour and not actual hence it is the method of observation.
The buyer decision process of a traditional customer will be listed in steps explaining for example,
This paper presents a dynamic model on the consumer behaviour on the real world marketing issue. It will further discuss the marketing and industrial experiences encountered daily in everyday business life, in addition is the Consumer behavioural issues and consumer analysis or recommendations.
Furthermore, I will explain the application of theory relating to me and my purchase. I will also review the marketing activity of the organization where I purchased from. This is to explain how the two theories have been used in the marketing strategy. In addition, recommendations regarding how the marketing strategy could have been improved by applying the 2 buyer behaviour theories are given.
Customer behavior can be defined as the process used by organizations, individuals and groups, to select, buy or use particular products or services to satisfy their needs and the impact it has on the society (Wikipedia, consumer behavior). Every product in the market is given a different value by an individual user based on the need it satisfies and also the level of the want. For example a person may put choosing a car as just for a means of transport from point A to point B but for another individual a car is not only used as a mode of transport but also as a means of his lifestyle. Many marketers use these difference of needs in consumers to create different marketing campaigns to attract consumers that use their products.
Marketing involves making consumers aware of the value of a product or service offering with the aim of increasing sales for the product or services, developing brand loyalty, and promoting the good or service. There are several techniques used by companies in marketing. These techniques are aimed at ensuring consumers are aware of how the new offering by the company satisfies their needs. Further, application of sound marketing techniques ensures that marketing is an exchange process that results in the long-term relationship. Transactional marketing and Relationship market are two of the common types of marketing applied by organizations who seek to develop their long-term relations with consumers or increase immediate sales for a product
A. Consumer behavior comprises all the consumer decisions and activities connected with choosing, buying, using, and disposing of goods and services.
In today’s competitive world where organizations looking for high profitability and market share, consumers have very important role. Companies are looking for capture consumers in order to get larger market share. For this reason organization developed a number of techniques and tools. One of such tools is consumer behavior which has been come from economic theory. Consumer behavior is mainly studying the factors and situations that can affect purchase decisions of consumers. Consumer behavior is being very important discipline of management sciences which help out to understand of customers’ decision making.
Shiffman, L.G. & Kanuk, L.L. 2010. Consumer behaviour. 10th ed. Upper Saddle River. NJ: Pearson Prentice Hall.
Consumer behavior incorporates certain activities, decisions or experiences, which satisfy the needs of the consumers. It concerns all the activities that incorporate consuming, obtaining and product disposing of that precedes and carry out these actions (Darling, 2015). The Consumer behavior remains one of the important areas for research in the tourism and marketing fields in terms of travel behavior or the behavior of tourist (Rid, Ezeuduji & Pröbstl-Haider 2014). There are a few comprehensive literature reviews on the behavior of consumer typically described his injurious area with the help of the existing models or concepts of Consumer Behavior. There are exceptions in the insights of the authors who give the review about
To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior. Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other.
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all
Philip Kotler; Kevin Lane Keller (2009): “Marketing Management”, 13th edition, Pearson Prentice Hall, pg 61-62