Consumer Behavior Insights
Tutor: David Toleman
Student Name: DAN YU
Student No.: 30123743
Due Date: 7th April, 2014
The report’s orientation is to link consumer behavior to marketing strategy. A better understanding of consumer behavior has become necessary for developing marketing strategy.
The report is organized with four components: one-week purchases record and the analysis of the influences on decision making process, analysis of the consumer purchasing behavior, description of the nominated product and analysis of the nominated production, comparison of the buying behavior for the one-week purchases with the buying behavior of the nominated product.
Consumers are complex to understand in terms of their psychology, culture, social class and environment. By comparing the buying behavior of the one-week purchases and the high-involvement product, it is concluded that the consumer is concerned with both price-quality and the symbol of the product. Brand image is more important than its utilization. Consumers are loyal to the brands that can enhance their self-image.
The consumer usually searches information online or communicates with her reference groups rather than by advertising. Friends are the most powerful influence than other sources of information. Word – of – mouth communication is the main method to provide information. Another source of information is Internet. The consumer usually seeks information on websites.
It is important for a marketing manager to promote the symolic products to increase their brand loyalists. Make sure consumers trust products of the company. Loyal brand consumers are powerful for company sustainable development, whatever the competitors do to strive for marketing shares, even though they reduce price or launch new products.
References: Abraham H. M. (1954). Motivation and Personality: New York: Harper & Row Dhruv G Hennr A. (1995). Consumer Behavior and Marketing Action:5th Edition. South-Western College Publishing Jim B John A. H. & Jagdish S. (1969). The Theory of Buyer Behavior: New York: John Wiley John L Robert E. (1997). Consumer Behavior Advances and Applications in Marketing: Prentice Hall Europe Richard C Russell W. B. (1975). Situational variables and consumer behavior. Journal of Consumer Research, Vol.2. pp. 159-64 Russell W W. T. Tucker. (August, 1964): The Development of Brand Loyalty: Journal of Advertising Research. p.32 Appendix: