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The Factors that Influence the Behaviour of a Customer Essay
The Factors that Influence the Behaviour of a Customer Essay
Order ID# 45178248544XXTG457 Plagiarism Level: 0-0.5% Writer Classification: PhD competent Style: APA/MLA/Harvard/Chicago Delivery: Minimum 3 Hours Revision: Permitted Sources: 4-6 Course Level: Masters/University College Guarantee Status: 96-99% Instructions
The Factors that Influence the Behaviour of a Customer Essay
Factors, Influence, Behaviour, Customer, Essay
This week, of course, offered effective insight into the behaviour of a customer that shows a significant impact on the performance of a firm and the sustainability of a business. The marketing framework includes key elements such as 5Cs, STP, and 4Ps.
The 5Cs of a firm include key elements such as customer, context, collaborators, company, and competitors, STP includes the elements like segmentation, targeting and positioning and 4Ps includes the elements like product, price, promotion and place (Iacobucci, 2018).
The factors that influence the behaviour of a customer include the phases through which consumers go to purchase the products, types of consumer purchases, perceive and sense and attitudes of customers to make decisions, culture diversity that influences the perceptions of staff towards the products.
The course also offered insight into the three phases of a purchasing process such as pre-purchase, purchase, and post-purchase. Each phase of a purchase process offers effective insight into the customer needs, solutions, develops effective consideration set and narrows it, determine effective channel, determines the satisfaction of customers, likelihood, and word of mouth.
It is understood that business processes such as B2B and B2C use the buying process for buying the products. The course of this week also offered significant insight into various types of consumer purchases like convenience purchases, shopping, and special purchases.
In the convenience purchase, the involvement of consumers is less and they do not invest a lot of time into making a plan to purchase the product. Shopping purchases involve the customer’s medium and make them invest medium time to purchase the products.
Specialty purchases involve the customers highly and makes customers put much effort into making the products. There are three types of business purchases such as new buy, modified by, and straight buy. It also offered effective insight into classical conditioning and operant conditioning that helps the businesses to advertise the products and sell products effectively.
It also included Maslow’s hierarchy of needs, motivation, attitudes of customers and decision-making like beliefs, importance, and choices made by the consumers to compare a variety of brands to develop effective decision through various stages and socio-cultural differences that show a significant impact on the perceptions of customers and decisions creating by them.
Among the various concepts, the key concepts that are most important to me include customer behaviour, phases of a buying process, decision making, and types of business purchases. The main reason for considering these concepts is important to me is that they help me to understand the behaviour of customers, understand its impact on the purchases of a firm’s products and know the benefits of various types of business purchases. This helps me to develop effective decisions and achieve success in the business when I established a firm and grow professionally.
References:
Iacobucci, D. (2018). Management. Cengage learning.
Discussion 2
In the current competitive business world, we can see that some businesses are highly successful while some are a failure. The success of the business depends upon several factors like customer satisfaction, leadership, etc. For any business, customers are the primary resources and a great asset.
If the customers are not satisfied or lose trust, then the business is certain to fail. There are several instances where, due to dissatisfied customers or failing to analyze customer behavior resulted in a great loss to the organizations. A good instance is how the new coke project drastically failed as the company failed to analyze customer behavior.
Here we can observe that the company wants to enhance its coke taste and offer quality drink and, in the process, disregarding the customer behavior that resulted in a great loss to the company. In the end, they again replaced the new coke with the old coke promoting as the classic coke is back.
Hence, customer behavior is one of the critical factors that play a key role in the success of the business. With the changing trends, the customer’s tastes and preferences are also changing. Organizations need to constantly update themselves with the changing behavior of the customers to succeed in the business (Kailash & Srivastatva, 2010).
Customer Problem
Today in this highly competitive era, starting and running a business is not an easy thing as novel problems and issues are encountered at every phase of the business. They must be dealt with then and there to run the business successfully. We can also observe a trend where to start a new business; the individuals are launching the new business to address the existing issues in the industry.
For instance, consider how customers faced issues with the restaurants for delivering the food. Zomato, Swiggy, etc. are the companies that addressed the food delivery issues of the customers and are very successful today in the food delivery industry. They immediately used the issue as a new business idea.
This is because customers call the restaurants several times to know where the delivery boy is and how much time it will take the delivery man to deliver the order. But with Swiggy and Zomato, we can see how the customers can easily track the order, thus satisfying the customers with their needs (Melika, Slavo, & Muris, 2012).
In the same way, I want to enter into the clothing industry. At present, I observed that the fashion industry is changing day by day. The trend changes quickly, and customers want to stay in-line with the new trends in the fashion industry, but they do not know how.
I will use this customer issue to start my new cloth business, where I will update with the current trends in the fashion industry using technological advancements like social media and following the famous fashion designers will help me to attract the customers and can earn good profits. Hence, I want to enter into the clothing industry, and I will make the changes like having a team to constantly update me with the current trends in fashion so that I will purchase and sell the trending items, thus attracting more customers to my store (Melika, Slavo, & Muris, 2012).
Taste Test
Today the companies before launching a new product their R&D team does vigorous research on various issues like taste tests if the food & beverage industry, customer behavior, tastes, and preferences, etc. before releasing a product into the market to ensure the success of the product.
But sometimes we can observe that even after thorough research, the products fail to attract and satisfy the customer’s expectations. This is because sometimes the research also depends on the type of participants and their level of knowledge. For instance, it is a well-known fact that tap water is safer and pure than the bottled water and tap water is way cheaper than the bottled water.
Also, much of the bottled water comes from the taps. Now if the company wants to do the research on the taste test it will test on a wide range of participants like form children to aged people and the tastes and preferences may vary according to the types of participants and their knowledge (Melika, Slavo, & Muris, 2012).
References
Kailash, B., Srivastatva, S, K. (2010). The Role of Consumer Behaviour in Present Marketing
Management Scenario. 5. 268-275. Retrieved from,
Melika, H., Slavo, K., and Muris, C. (2012). Consumer Behaviour. School of Economics and
Business University of Sarajevo. Retrieved from,
https://www.researchgate.net/publication/317580429_Consumer_Behaviour
RUBRIC
Excellent Quality 95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support 91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology 58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%
37-1 points The background and/or significance are missing. No search history information is provided.
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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