Consumer Behavior Analysis Case Studies & Assignment help
The subject has not only marketing specific but has fine blending of other subjects namely Psychology, Sociology and Economics as well. The particular marketing subject tries to understand the buyer decision making process for individual decision makers as well as group. In the process, the marketing subject assesses the impact of friends, family, relatives or any reference groups on the decision making process.
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The Business decision making has following parts
The first stage involves information search, where the consumer recognizes a problem and tries to search for solution (purchase). According to Belch and Belch (2007) consumers use both internal (memory) search as well as external search. There are various sources available to consumers for information gathering like personal sources (family, friends), commercial sources (advertisements), public sources (announcements) or past experience (memory).
The information is evaluated by the consumer by brand to brand or product to product comparison between the options selected in terms of the benefits, both functional (usage) and psychological (satisfaction) being offered.
After the evaluation of options, Purchase decision (Jakola, 2008) is made by the consumers. Which can be influenced by the organization in terms of the sales promotion, ease of payment or any other incentive. The purchase decision is very important as this is the point where the customer shells out the money and is the income source point for the organization.
Post Purchase evaluation is the next stage, which not handled properly leads to erosion of the loyal customer base. In this stage it is necessary to ensure that the client has made the right decision and the alternatives would never have been preferable. The concept called “cognitive dissonance” is associated with it.
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Applied Example by My Assignment Help .com
Let us assume that you want to buy a car, the consumer behavior analysis will be:
Problem Recognition: Need to minimize the time to reach office with convenience and ease
Information Search: Among the options of Bus, Trains, Metros and Cars. Car was finalized because of the convenience and ease, further the prices, brands, utility etc were searched for different car brands.
Evaluation of Alternatives: Various car brands were compared like Toyota, Ford, Nissan etc
Purchase Decision: Decision was made to but the Toyota brand for the dealer care
Purchase : Purchase was made
Post Purchase Evaluation: The dealer often called to ensure the car condition and consumer satisfaction evaluating the post purchase decision
References:
Sandhusen S. L. (2000). Marketing. 5th ed. NewYork. Barron’s Educational Series
Belch G. & Belch M (2007).Developing a promotional strategy: Important questions for social marketing. Health Promotion Practice Vol. 8, No. 4, 332-336
Jakola E (2008) Purchase decision-making within professional consumer services Organizational or consumer buying behavior? Health Promotion Practice Vol. 7, No. 3, 32-48
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