1. Identify, analyse and evaluate the major factors that could affect consumer buying-behaviour.
2. Clearly show why an understanding of these factors is so important to successful marketing. Give examples of current usage.
3. Identify and evaluate key differences between organisational and consumer purchasing and discuss their implications for marketers.
A company may think that if it can provide the perfect product to the customers, they will buy it. Many customers are brand loyalty therefore sometimes the good products cannot be competing with the good brand. However factors influencing consumer behaviour is not only the product itself but also advertising, which can be one of the most important factors affected purchasing decision. Typically every company realise an essential of advertising as it is shown in the profit and loss statement. Moreover it is noticeable that budget for advertising always high. It is well-known fact that advertising plays an important role in people's daily lives. The advertising is available anywhere both inside and outside home. Recent research suggests that people spend two and a half hours on average watching television (Livingstone and Bovill, 1999 cited Dickinson, 2000). This essay critically analyses and evaluates the major factors that could affect consumer buying behaviour. Nevertheless, I would like to base my overall main points on advertising as the major factors which would makes it a lot easier and I could focus on this scenario and hopefully answer all my questions. Throughout this essay, the term of advertising covers all media for instance television, radio, newspaper, direct mail, yellow pages, magazine, billboards, leaflets and even on film (Perreault and McCarthy 1999, p.450). This essay is divided into three sections. Firstly it will look at what consumer behaviour is, I will analyse and evaluate the major factors. Secondly it will discuss the importance of the advertising, show my understanding and explain why it is important to successful marketing. I will, thirdly, analyse the consumers' attitude and advertising. Finally this review will mention about advertising influences consumers buying food. Also, identify and evaluate key differences between organisational and consumer purchasing and discuss their implications for marketers.
What is Consumer Behaviour?
"Consumer behaviour focuses on how individuals make decisions to spend their available resources (time, money, effort) on consumption-related items" (Schiffman and Kanuk 2000, p.5). In addition consumer behaviour may be defined as the process and activity when the consumers use to evaluate, purchase or dispose goods and services to satisfy their needs (Loudon and Bitta, 1993; Solomon et al., 2002; Hoyer and Maclnnis 1997, p.3). A study by Packard (1981 cited Wilmshurst 1995, p.11) showed that there are many reasons related to consumer behaviour and why people buy or do not buy product, for example quality of the product, shelf position, and advertising.
What do we mean if we are talking about consumer buying behaviour, there are several decision processes and acts of people (consumers) buying and using products for themselves or their household. These processes might be very interesting for companies and their marketing managers. However, what are the reasons why marketers should know about consumer buying behaviour.
Well, I believe that there are several reasons:
- At first it is important to know about the reaction of the buyer to the firm’s marketing strategy because this has a great influence on the firm’s success.
- Another thing is that the firm can create an almost perfect marketing mix to satisfy the customer.
- The third reason is that it’s much easier for the marketers, if they know about the buying behaviours, to predict the reaction of consumers on marketing strategies.
On the following pages I want to give a short overview about "Consumer Buying Behaviour" and "Organisational Markets and Buying Behaviour".
The advertising is important and the main factor as it can inform or remind the audiences about the existence of the brands and also influence their buying decision making (Fill 2002, p.486).
- Quote paper
- Wanchat Kengthon (Author), 2010, Consumer Buying Behaviour, Munich, GRIN Verlag, https://www.grin.com/document/163409