Buyer Behaviour – Branding - Loyalty Contents Purchase Decision Making Process p. 3 Approaches and Theories of Buyer Behaviour p. 6 Factors Affecting Buyer Behaviour p. 9 Brand Loyalty and Corporate Image p. 12 References p. 15 Purchase decision making process * When buying products or services‚ consumers typically follow this five-step process: 1. Need Recognition Need recognition occurs when a consumer identifies a need and thinks of a product
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Distributive bargaining‚ also known as a win-lose bargaining process is a competitive negotiation approach that is utilized to choose in what way a fixed resource such as money will be distributed. It is assumed by each person involved that in this method gains for one party’s interests will come at the expense of the other party for the reason that there is a limited quantity of resources obtainable to the parties with which to meet bargaining goals. (Holley‚ Jennings‚ Wolters‚ 2012 pg.257) In other
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TYPES OF BUYERS 1. The Silent Buyer Stays silent‚ apparently glum‚ who is probably more disturbing to a new salesperson. How to handle: - Ask questions‚ wait for feedback. - Make a selling point‚ repeat it twice ask their opinion. - Meet silence with silence‚ it forces prospect to say something. 2. The Phlegmatic or Imperturbable Buyer These are cool and calm buyers How to handle - Go on for simple presentation‚ explain everything and give remarks of close. He will reply. 3. The
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Buyer (Source Selection): Use a weighting system to determine which evaluation criteria are most important. The evaluation criteria could be as simple as the price for off the shelf standard items‚ or it could be a combination of factors for a more complex proposal. Following is a list of some examples of evaluation criteria. • Cost - To evaluate the overall cost‚ you should consider all cost-related factors‚ such as: o Purchase price o Delivery cost o Operating cost • Business aspects
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1. Bargaining structure – the resulting organizational structure for the collective bargaining process. 2. Pattern bargaining – the union bargains exclusively with that target company until an agreement is reached. 3. Bargaining power – a popular conceptualization is “the ability to secure another’s agreement on one’s own terms.” 4. Bargaining environment – is the diverse set of external influences on labor and management as they sit at a bargaining table negotiating a contract. 5
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Behavior The marketing concept emphasizes that profitable marketing begins with the discovery and understanding of consumers. And their needs and then develops a marketing mix to satisfy these needs. Consumers/ buyers considered to be as one of the important element in a company. These buyers/consumers are the one that generates the company’s income. In order to established loyalty among its customers a company should understand first the buyer’s/consumer’s behavior. Consumer behavior is the mental
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Many references found on the subject of plea bargaining project the same message as to why the process has become such a common element of the justice system. The universal missive seems to be advantage for all parties involved‚ even the victim. There are obvious advantages in terms of time and cost for the judicial system. For judges and prosecutors‚ plea bargaining provides relief to hectic schedules and an overcrowded docket. Any case resolved outside of the court setting can also ease the
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potential. These are the highest-level needs on the hierarchy. Motivation & Buyer Behavior According to Jerry Thomas‚ “Motivational research seeks to discover and comprehend what consumers do not fully understand about themselves. Implicitly‚ motivational research assumes the
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Buyer Behaviour: The Consumer Decision-Making Process as it relates to Replacing a Laptop Computer Table of Content: 1. Introduction…………………………………….Page:1 2. The characteristics that affect consumer behaviour 3. The types of consumer buying decisions 4. The components of the decision making process 5. Conclusion 6. Reference list 7. Appendices 1. Introduction The purpose of this report is to describe the purchasing scenario of a consumer
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MKTG1047 Market Research MKTG1047 Market Research The Marketing Research Process Lecture 2 Prepared by: Dr Linda J. Robinson Agenda • Recap: What we discussed yesterday ☺ • This lecture covers: –Research process –Research designs –Problem definition • We will also be forming groups for the project and discussing the project topic RMIT University© LR2011 2 RECAP You should remember from yesterdays lecture: • What is marketing research is? – Definition; Applied vs. basic research
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