The Types of Consumer Buying Decisions
In Regards to complex consumer behaviour, the buyer has a high involvement with the purchase when observing a considerable difference between brands. This behaviour usually occurs when the product is uncommonly purchased, expensive or risky. The buyer might not know a variety of terms associated with the item such as “megs of RAM” and “megapixels”. This consumer acquires his purchase after increasing attitudes and belief s about the consequences of a contract renewal benefit.
Renewing his contract to acquire a new mobile phone, the buying behaviour of this particular customer is Complex as high involvement and substantial difference between brands occurs. The characters affecting consumer behaviour in this item are mainly personal as buying a mobile phone represents the personality, status and economic stability is significant. As you can note below shows a range of other products that might also warrant this same particular consumer within regards the buyer behaviour decisions and the characteristics that affect his behaviour.
Music System: Buying a music system the buyer behaviour of this consumer is Complex as a high involvement and substantial difference among brands persist. The Characteristics that would probably affect his behaviour in this item are psychological as well as personal as acquiring a
Need essay sample on "The Types of Consumer Buying Decisions"? We will write a custom essay sample specifically for you for only $13.90/page
A Complex buying Behaviour is seen here. Item Characteristics Affecting Consumer Behaviour Buying Behaviour Mobile Phone Age, Lifestyle, Personality Complex A Car Personality, Economic Situation, Social Factor Complex Music System Age, Lifestyle, Personality Complex The Components of the Decision-Making Process The decision making process is an important segment of buying behaviour. This assessment process can be distributed into five phases:
Problem Recognition: The old mobile has been used for 2 years; it is well used, out of fashion and occasionally does not work properly, after a few hours of usage it switches off, the screen freezes when using different applications at the same time and also the outlook of the handset is very dirty. It is time to get a new mobile. When he decides to renew the mobile contract he needs to list out the specifications of the handset as brand, price and outlook, which will represent his style and taste as well. Information search
As soon as he has the priority criteria of what product he is looking for, he needs to research, in order to find out what handset suits him better. (Neal, C. 199) There are a several sources which he could look at, such as: 1. Personal Sources- It is where he will ask friends and family for suggestions, whether they have a handset that matches the same specifications he desires. (Rice, C. 1993) 2. Experimental Sources- It is an option of using the mobile in one of the Network’s store, which offers him the contract renewal. A trial experience may convince him about what handset to choose for?
Commercial Sources- It involves advertisement, retailer and promotion. The information from commercial sources such as TV advertisement and magazines are precise and reliable. When he has a question, he might find it useful to ask a retailer. The retailer will answer any question, explaining specific terms that he might not understand. Evaluation of Alternatives Once he found the necessary information to select the right handset, he needs to value which mobile match his expectations and specification. The best alternative, considering the 3 best products evaluated is the Samsung Galaxy S4, as it obtained the best score.
Purchase Decision: This phase is when he actually buys the handset. It is the period when the buyer decides whether to purchase a cost-effective good or a valuable good. Once there are no unpredicted aspects that arise when he is about to make a decision, such as bad service from the seller or the handset it is out of stock, then he will definitely buy the Samsung Galaxy S4. Post-Purchase Evaluation: The Decision Process will not finish after the purchase. At that moment the consumer will make a perception about the brand built on approval or disapproval.
He will be able to do that as soon as he makes use of the handset and test its specifications. When there is disapproval from the consumer, he may rethink the process and find his errors. Marketing Recommendations The mobile phone industry is extremely competitive. In order to maintain its competitiveness and enhance customer satisfaction, marketers need to focus on marketing strategies, selecting and analysing target customers or markets, creating an appropriate marketing mix to satisfy the needs and wants of those target markets. (Ferrel, O. ,1999)
Product- When mobile companies launch a product in to the market, research should be carried out in other to identify the customer’s needs and wants. This research should then be analysed to ensure the business create a value for the product. Price- It is the most crucial element of marketing mix as it means sales revenue for the business and all the elements of marketing mix. (Jobber,D. 2004) It is important to have a methodology price where the company can match customer’s perception of the value based on the benefits of the specific product.
Flexibility on price strategy is essential and it occurs when companies use pricing adjustments such as Discounting Pricing, Penetration Pricing, Economy Pricing and Premium Pricing. In order to develop an excellent marketing strategy it is essential to understand the market as whole in advance. There are a variety of types of consumers based in education, age, tastes, lifestyle, income and a wide range of factors and characteristics, which affect a certain customer’s decision process.
Organizations need to consider every stage of this process within regards to perception to acquire a powerful superiority in the industry nowadays. The knowledge of all aspects, the external and internal influences affecting the consumer may help firms to improve or adapt their marketing strategies appropriately. An understanding of the topic above examined concerns such as the traits of consumer decision process and how perception affect consumers the most at each phase is crucial when designing a marketing strategy.
Factors; Social Factors, Personal, Psychological and Cultural stimulate the Consumer Behaviour. When a Consumer is making a decision, they are continually induced by those factors. Marketers need to consider these in order to keep a strong edge. Target market requires to be wisely selected before any publicity about products and services. This method the focus market is more expected to emphasize it as they have a curiosity in the services and products as well as a superior probability that the consumer deduces the message as it was expected from the marketing perspective.
Armostrong, G (2012). Marketing An Introduction. 2nd ed. LONDON: pearson. p25-103. Ferrel, O (1999). Marketing Strategy. Harcourt Brace. Jobber, D (2004). Principles and Practices of Marketing. 4th ed. LONDON: McGraw-Hill. p375. Neal, C (1999). Consumer Behaviour: Implications for Marketing Strategy,. 4th ed. Australia: p04. Rice, C (1993). Consumer behavior: Behavioral Aspects of Marketing. Singapore: Butterworth-Heinemann. p234.