Discuss about the Information Technology And Consumer Travel.
The report helps in analyzing the definition of the consumer behavior in the context of an organization. The consumer behavior is the study of the different individuals, groups as well as different processes that are used in order to dispose the different products and services to satisfy the different requirements of the customers.
The main aim and purpose of the report is to identify the different importance of the consumer behavior in the organization. The organization that has been taken in the particular report is Coles Supermarket that is based in Australia. The identification of the interest of the organization is essential in nature, as this will help in segmenting the different customers.
The structure of the report includes definition of the consumer behavior, importance of consumer behavior in the organization as well as the identification of the organization interest. The different issues faced by the consumers have to be highlighted to solve such issues with proper insight.
Overview on consumer behavior
The consumer behavior is the study of different individuals along with organizations that include different activities that are associated with it for disposal of goods and services to the individuals in the entire society (Lantos, 2015). There are different factors that are considered in order to satisfy the requirements of the customers in the society that includes marketing campaigns, purchasing power of the individuals and personal preferences. There are different models of consumer behavior that has to be considered, as this is essential to understand the buying decisions of the consumers (Martin & Bateman, 2014).
Consumer behavior is influenced with the different personal factors that are essential in nature that includes occupation, age, economic conditions, lifestyle of the individuals as well. The economic model of the consumer behavior is the oldest model of the consumer behavior that includes as well as explains the likely behavior of the consumers in buying decisions that are applied by them. This model helps in including the monetary conditions of the individuals regarding their purchasing power. In the economic model, the money is the crucial factor that is required to be analyzed, as this will help in influencing the behavior of the consumers (Madzharov, Block & Morrin, 2015).
On the other hand, there are different other models of the consumer behavior such as Engel, Kollat and Blackwell Model as well as Black Box Model that has different implementations. However, there are different factors that influence the behavior of the buying of customers such as psychological factors that include motivation, perception along with attitude and beliefs. Consumer buying behavior is the total of the attitude and behavior of the customers and this helps in analyzing the preferences of the customers while buying different goods and services (Jerath, Ma & Park, 2014).
Importance of consumer behavior in organizations
There are different importances of the consumer behavior to the different marketers in the organization. It is essential for the different marketers to understand the consumer behavior in such a manner that they can understand the preferences of the consumers and satisfy the different requirements in an effective manner as well. The importance of the consumer behavior in the organization is explained as follows:
- The main importance of the consumer behavior in organizations is to understand the buying patterns of the consumers by creating and retaining different customers through online stores (Krishna, 2015)
The consumer studies helped in making the marketers understand about the post purchase behavior of the customers in the entire market. This will help the different organizations in the market to become fully aware about the process of consumption in a detailed manner (Li, Linn & Muehlegger, 2014)
- This will help in increasing the knowledge of the sales person, as this will help in influencing the behavior of the consumers while buying different goods and services. Effective kind of marketing of different kind of products and services will help in delivering the right product to the different customers (Napoli et al., 2014)
- The behavior of the customers is essential in nature as this will help in optimizing the sale of product and this will create focus on the different strategies of marketing. The salesperson of the different markets will help in gaining knowledge on the consumers buying patterns (Oliver, 2014).
- The consumers are the heart of the business, as this will help in increasing the sales of the customers (Zeugner-Roth, Žabkar & Diamantopoulos 2015). The marketers are responsible for satisfying the different requirements of the customers and this will help in influencing the decision of the customers. The marketers need to analyze the preferences of the customers by conducting different surveys through questionnaires as this will help them in knowing the requirements of the customers (Gruber & Schlegelmilch, 2014)
- The psychology of the customers has to be analyzed by the marketers in an effective manner, as this will help in improving the marketing techniques that can solve such issues with the implementation of effective strategies.
- Lastly, the sales of the different organizations will be increased with the analysis of the purchases of the consumers. This will help the marketers in increasing their sales and knowing the likes and dislikes of the customers (Chiu et al., 2014).
For instance- Suppose in a respective market, there are different customers who are the target customers of the company. There is a launch of a new product in the market purchased by different customers on that day; it is the duty of the marketers to analyze the different preferences of the customers. This will help in understanding the popularity of the product and this will help in analyzing the profits that has been generated from the particular product as well. This example helps in analyzing the preferences of the customers and this is providing proper importance to the customer behavior in the entire competitive market as well.
Overview of Coles Supermarket
Coles supermarket is the Australian supermarket, retail as well as consumer service chain that is headquartered in Melbourne ("Coles Supermarkets", 2018). The entire company is owned by parent company Wesfarmers that was founded in the year 1914. There are 801 supermarkets throughout Australia having 100,000 employees and they are operating online as well. The total asset that has been generated by Coles is $1 billion and the net revenue that is generated from the company is around $33 billion. The CEO of the respective supermarket Coles is John Durkan and the respective company is performing well in the different operational activities as well.
Primary and secondary Customer Profile for Coles Supermarket
Primary Customer Profile
Value for money buyers
There are different buyers who are indifferent in nature. These are the ones who are loyal to single brand and the age group is around 29-35 years of age and usually not married in nature. The main target is the different kind of refreshments and other soft drinks
The price is the essential factor and the age group targeted is more than 40 years. The income of the entire family has to be12000-15000 per month. The preferred brands are the different kinds of healthy foods, fruits as well.
The taste is the essential factor that is considered and the age group that is targeted is less than 39 years of age. The female customers are the main target customers as they have huge knowledge relating to the different products that are required in the day-to-day life. The main target are the different oil, fruits, vegetables and other necessary ingredients that are required in the day to day life
Secondary Customer profile
These are the secondary customers as they are the ones who require different kind of ingredients that are required for their restaurant.
The age group varies from 29 years and above and this will help in sale of the different goods and services such as for the different vegetables and other spices sale will increase
These are the secondary customers as well who purchase different ingredients that are required to prepare the snacks and other items in the canteens. The main age group varies from 25-35 years of age and they help in increasing the sales of the business
Identification of issues and solving such issues in consumer behavior
There are different issues that are faced by the consumers in the entire competitive market relating to the purchase of different goods and services. The issues that are faced by the consumers while purchasing goods from Coles Supermarket are as follows:
- There are different internal influences such as attitude of the customers along with the marketers will be one such reason. There can be different situation in the market that is related to the behavior of the marketers in the organization towards the consumers. The marketers may not be able to understand the requirements of the customers and they deliver goods and services that are not essential in nature (Carrington, Neville & Whitwell, 2014)
- Secondly, when a new product is launched in the market, it is the duty of the marketer to guide the customer thoroughly relating to the characteristics of the product. When wrong information is generated to the customers, it will create a wrong impression on the individuals in the entire competitive market
- Thirdly, when the customer is not satisfied with the product that is provided by the respective supermarket. The situation can be such that the customers demanded a product, however such product was not available in the market and the marketer provides the replacement to the customer that did not meet the expectations that is required in the market (Xiang, Magnini & Fesenmaier, 2015).
However, there are different ways and processes through which the issues relating to the consumer behavior can be solved with proper implementation of different theories and models. The theories and models will help in analyzing the importance of the customer behavior in such a manner that this will help in solving such issues relating to the marketing strategies. The Maslow’s hierarchy theory helps in analyzing the different requirements of the customers that include:
- Physiological Needs
- Safety Needs
- Social Needs
- Esteem Needs
- Self Actualization Needs
The requirements of the consumer behavior has to ascertained in an effective manner as this will help in solving the different issues that are faced by them. The different needs have to be ascertained that will help in solving the matters. Social marketing is essential in nature, as this will help the marketers in understanding the preferences of the customers in the market. The purchase decision of the customers has to be analyzed, as this will help the organization in preparing proper availability of the goods and services in such a manner that this will help in understanding the importance of the consumers.
The different steps that can be followed by the marketers in the organization are as follows:
- The social marketing is essential in nature as the company will help in introducing new products in the market that will increase the marketing of the different goods and services (Couture et al., 2015)
- The choices of the brand has to be analyzed by the marketers in the respective organization as this will help in influencing the customers towards a particular brand as this will increase the marketing activities (Zhao et al., 2014)
- The psychology of the customers has to be understood by the marketers in the organization that will help in differing the marketing strategies for selling of different range of goods and services
Therefore, it can be concluded that proper ascertainment of the consumer behavior is essential in nature, as this will help in understanding the alternatives that can be adopted to make the customers satisfied. It has been seen that it is the duty of the different marketers in the organization to analyze the requirements of the customers as this helped them in delivering the goods and services in a proper manner. The behavior of the customers played an essential role as this helped in influencing the decisions in an effective manner. Lastly, the marketers require adopting different strategies to improve the marketing campaigns as this will help in implementing the strategies in an effective manner in the future.
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