Consumer Behavior Theories Approaches and Models Sample Solution

Question: Discuss about the Consumer Behaviour Theory for Approaches and Models. Answer: Introduction Consumers have their individual needs which make them unique by themselves as they are different from each other. They also have different consumer behaviours and consumer patterns. It is the marketing companies and the brands which makes the satisfy the needs of the consumers. The brands can offer various products and services which are uniquely designed according to the needs of the Consumers. In this article we would conduct an analysis with respect to the stages involved in purchasing a product and a service and we would discuss the factors which determine the consumer behaviour. Finally, based on Maslows Hierarchy of needs we would also analyse which of the factors the product fulfils. Steps involved in making a decision to purchase the product / service of your choice Decision making process in terms of a product or a service is a complex process however there is a specific process which it involves before and after the product is bought. This happens especially because the Consumer is influenced by various choices while he chooses to make his purchase. For example, the product I would choose would be a delectable Michel Cluizel Chocolate which is hard to resist. The various stages which are involved in a Consumer Decision making process are dependent on five main stages which have been developed by Engel, Blackwell and Kollat (1968) like Problem / need recognition, information search, evaluation of alternative models, decision to make the purchase and post purchase behaviour Problem / need recognition The need recognition is the most critical evaluation process which is required to decide whether a product has to be purchased. Considering the example we have chosen of a Michel Cluizel Chocolate, the need recognition is the most important aspect because if there is no craving or the need to consume the product, there is no need to buy it Mata Nunes 2010). To be able to realise or recognise the need to buy the product, one has to develop his own stimuli which can help him realise the physiological need to consume it. Information search The information search about a specific product depends on the urge of the person to seek various solutions or answers to his existing issue or a question. In case of consuming the chocolate, the person could do his homework on the positive facts and the negative facts of consuming it Jane, Stephen David (2013, p 17-19). Alternative Evaluation This stage happens after the person collects the information and this could also be termed as a decision making stage. Decision to make the purchase The basis of all the facts collected in the earlier stages provides the final power to make a purchase Milkman, Chugh, Bazerman (2009, p 379 - 383). Post Purchase behaviour In the final stage, the consumer goes through a process where he evaluates his decision of having purchased the chocolate and having consumed it. It is this final stage which has a great say on the brand or the product as the Consumer might have decided by then whether he has to decide to buy the product or should he refrain in the future. Identify and discuss four factors which might impact on a consumer decision making process to buy a selected brand of a product or a service. The effect of various factors on a consumer decision making process to buy a selected brand of a product or a service is dependent on various aspects like cultural, social, personal and psychological. Cultural Factors Culture has a large say on developing a personal liking towards a specific product or a practice. A person is highly influenced by his family or his own community where he grows up and spends most of his life. This will tend to help the individual to develop preferences for some products and will also help him to adapt them into their culture as a part of their lives Aribarg, Foutz (2009, p 518 - 530). Our example of a Chocolate has made its way into every Country and every culture where it predominantly has been accepted as a sweet treat. Social Factors Social factors evolve out of groups where the individuals are influenced by some of the habits which they cultivate and they also make them as a part of their life in the process. There is a close realtion between this fact and the product chosen as it is the quickest reach of a sweet treat to say that we are happy to someone or to celebrate any cause (NSW Ministerial Advisory Committee on Ageing 2004). Personal Factors Personal factors are dependent on the lifestyle and the ages of the consumers as the buying patterns are different at various age groups. People who are in the age groups of50 70 are much less likely to purchase a chocolate than those who are in the age groups of 15 35 Mata Nunes (2010, p - 289). Psychological Factors Various psychological factors like motivational aspects and perception related thinking have a major influence on the consumer behaviour. Based on Maslows Hierarchy of Needs, which levels of needs do you think this product / service fulfils Based on Maslows Hierarchy of Needs, an individual is usually motivated by various needs which he feel that he should achieve like Physiological needs Safety Needs Need to like a specific product or love it or the feeling to belong to it Need to have a great esteem or a feeling towards himself or others as well Need to self actualise (Kotler Armstrong 2010) The product we have chosen is Michel Cluizel Chocolate and it satisfies the Physiological needs of a person where the need to recognise it by a Consumer arises in various ways like internal and external stimuli (BS 2014a). Internal stimuli could be a need to satisfy his need or a physiological need and external stimuli could be because of an advertisement of a specific product or it could even be the enduring smell of the chocolate Jones Shaw McClean (2011, p 496). The physiological need of Maslows Hierarchy of Needs is justified by three needs like functional need, social need and need for change. Functional need The special aspects of the product or the chocolate in this case could be the functional aspects. It could involve the specialty of making the chocolate like the hand made chocolates which are available in the present market and they could also be Michel Cluizel or the Swiss Chocolates which are special in todays market. Social need The social need is formed because of the association of the person with the others in a group or by being associated with a social group which makes those products. Need for Change Sometimes the Consumers feel like changing their needs or practices which they follow in their life where some of which could also be their eating and living methods. This could also be to embrace new habits or practices in their life to see an improvement or any specific change targeting some objective of their life. References Aribarg, A., Foutz, N. Z 2009, Category-based screening in choice of complementary products, Journal of Marketing Research, 46(4), pp. 518-530 Bray, J. P 2008, Consumer Behaviour Theory: Approaches and Models, Discussion Paper. Bournemouth University. Bournemouth Jane P, Stephen C David S 2013, Consumer Behaviour, Course Taster, 1 (4), pp. 17-19 Jones, D. G. B., Shaw, E. H., McClean, P. A 2011, The Modern Schools of Marketing Thought, In P. Maclaran, Saren, M., Stern, B., Tadajewski, M. (Ed.), The SAGE handbook of marketing theory. London: SAGE Publications Ltd, 11(4), pp. 496. Kotler, P., Armstrong, G 2010, Principles of marketing, (13th ed.): Prentice Hall Mata, R., Nunes, L 2010, when less is enough: Cognitive aging, information search, and decision quality in consumer choice, Psychology and aging, 25(2) pp.289 Milkman, K. L., Chugh, D., Bazerman, M. H 2009, How can decision making be improved?, Perspectives on Psychological Science, 4(4) pp. 379-383 BS 2014a. Australian Historical Population Statistics 2014, ABS cat. no. 3105.0.65.001. Canberra: ABS, Viewed on Aug 19th 2016, https://www.abs.gov.au/ausstats/abs@.nsf/mf/3105.0.65.001 NSW Ministerial Advisory Committee on Ageing 2004, Paying the price: the impact of mature age unemployment on government services, NSW Ministerial Advisory Committee on Ageing, Sydney, Viewed on Aug 19th 2016, https://www.maca.nsw.gov.au/__data/assets/pdf_file/0019/141535/Paying_the_price.pdf