Mba404 Consumer Behaviour And Marketing Assessment Answers

Introduction 

Consumer behaviour is a collective outcome of various internal and external factors that influence consumer’s perspective, psychology, expectation, motive, attitude and emotion. Any business organisation should develop their marking strategy and business process by prioritising the consumer behaviour (Vohs et al. 2018). In this report the internal factors or micro influences on consumer behaviour will be discussed with analysing a survey report. In the following section the aims and objectives of the survey will be described followed by the Target participations and sampling process. The process of conducted survey will be also discussed. In the next part the brief analysis of the data collection will be presented followed by the detailed discussion of the findings while considering various theories of consumer behaviour. The purpose of this survey analysis is to measure the regulators, influencers, properties and core components of consumer behaviour in case of FMCG (Fast Moving Consumer Goods) Business.

Aims and objectives of the survey 

Understanding the internal influence as well as external influence of the socio-psychological environment, helps to find the most appropriate business and marketing strategy for any business industry (Reed II et al. 2012). The aim of this paper is to critically analyse and explore the driving force of perception, attitude, motivation, group and individual differences, culture, family and lifestyle that influences consumer behaviour as well as the purchasing decision of consumers. The objectives of this survey analysis will be discussed in the following section:

• To examine how Perception of the consumers influence consumer needs and expectations
• To assess the attitudes of the consumers while making decision or choosing any product of service
• To find out the Motivations behind decision making
• To point out the Influence of Group and individual differences on consumer behaviour
• To examine Cultural impact on consumer behaviour
• To find out how Family and lifestyle can impact on buying decision
• To explore Consumer choice on types of goods
• To examine Consumer expectations and priorities
• To find out the impact of promotional activity on perception and purchasing decision
• To examine the most essential influencers among perception, attitudes, motivation, group and individual differences, culture, family and lifestyle 

Target Participants and sampling 

To conduct the survey 10 questions have been developed as questionnaire. 2 of these questions are demographic, 1 of them is economic, 1 of them for family backgrounds and other were based on consumer experience and behaviour. The survey has been developed in structured format with zero open-ended questions. As per the aim of this survey analysis, there was no specific set eligibility criterion for respondents. The respondents are random consumers where the survey was conducted through social media. Hence, the survey procedure has used probability sampling. At the same time, for this survey random sampling method has been used. The sample size of the respondents was 20. The ethical consideration of the survey was the main concerned where the willingness of all the participants had the most priority. Before presenting the survey the purpose of this survey was presented to the respondents. To comply with the data and privacy protection law the identification of the participants were not required to complete the survey.  

Summary of analysis 

Around 65% of the respondents are female. Around 35% of the participants are 25 to 35 years old. 30% of the respondents are from education health and security industry. About 60% of the respondents have annual income of 30 to 70,000.  About 45% of the respondents have 3 to 6 family members. However, about 20% of the total respondents live alone. About 35% of the total respondents prefer shopping with group of friends or colleagues. One the other hand, 25% respondents want to shop alone. About 45% respondents prefer shopping mall to purchase household material. 70% of the respondents prefer online purchasing for electronics goods. 60% respondents prefer supermarket for purchasing grocery and fruits. About 60% participants prefer conventional shop for processed food and dairy products. At the same time, 40% prefers mall and 30% prefer online shopping for purchasing garments and cosmetics.

The shopping frequency of 40% of the total respondents is shop once in 15 days. About 40% of the respondents mostly perceive online advertisement. Around 30% of the respondents perceive promotional activities from Television a advertisement. Only 15% of the total respondents perceive promotional event based advertisement like in beauty festivals, award show, food fair and others. Value for money is highly preferred by 50% respondents. However, Brand recognition is highly preferred by 65%. Quality and satisfaction is preferred by 95% of the total participants. On the other hand, Consumer’s review received lower preference by 55% of the total respondents. At the same time, Review of friends/colleagues/family members received low preference by 75% of the total participants. 

Discussion 

Conceptual model of consumer behaviour 

The conceptual model of consumer behaviour consists of external and internal influencers, motivational factors that interact to the consumer decision making process during various phase of purchasing procedure. As per Hawkins Model of consumer behaviour both internal and external factors interact with the consumer decision making process throughout the purchasing procedure (Foxall 2014). However as per the findings of the survey, it can be said that the internal and external factors does not interact all phases of purchasing procedure similarly. However, the internal factors mainly influenced the consumer needs, searching and decision making process.

As per Economic man model, only financial factors are the major influencer and regulator of purchasing behaviour. In this model both economic and socio-cultural impacts are prioritised. On the other hand, the external factors only influencer the searching and decision making procedure of the consumer (Kahneman and Tversky 2013). Apart from that, some intermediately motivational factors consistently interact with individual purchasing procedure. As an example marketing and promotion is highly connected with the consumer needs and exploration pattern. Availability and the alternative products motivate the consumer’s searching and decision making procedure before purchasing the product (Griskevicius and Kenrick 2013).  On the other hand, the product quality and consumer service regulate the post purchasing experience of the consumer that consequently forms the consumer needs for next purchasing process cycle. 

Impact of Family 

As per the behavioural model of consumer psychology the family has considerable amount of impact on the consumer behaviour. As per the survey report, About 45% of the respondents have 3 to 6 family members. Therefore, most of the responses are viable for those customers who have 3 to 6 family members. Most of these cases the family members are include a couple and their children. However, sometimes it also includes the older members in the family. The surprising fact is amongst these nuclear families. About 15% of the total respondents prefer shopping with family members. It refers that, the impact of family members are not always effective during the purchasing time. Rather it is an continuous procedure that influence the consumer’s decision making pattern and buying behaviour. As per the theory, individual tends to discuss with his or her immediate family members about their experience and preferences before making any particular purchasing decision (Mullen and Johnson 2013). Therefore, it can be said that Family members might support an individual’s decision making pattern during purchasing a particular product.

On the other hand, 25% respondents want to shop alone. It represents among the customers who have nuclear family, few customers’ wants to shop alone. However review of friends/colleagues/family members received low preference by 75% of the total participants. Therefore, as per the respondents they admit that the review of the family members is not essential, however it has a clear space in their decision making process. It has been found that family income has a significant impact on consumer’s buying decision. About 60% of the respondents have annual income of 30 to 70,000. At the same time, the shopping frequency of 40% of the total respondents is shop once in 15 days. It clearly indicates that the family income has a significant impact on the frequency of purchasing process. The higher the family income is the greater the shopping frequency can be (Hosany and Martin 2012). 

Socio- Cultural Impact 

As per the socio-cultural theory on consumer behaviour model, Socio-cultural influences evolve from a formal and informal relationship with other people (Rucker, Galinsky and Dubois 2012). These influences include Reference groups, Social class, friend or colleague zone and Culture. As per the survey report, about 30% of the total respondents are from healthcare, education, security and other social or public services. Therefore, the respondents’ preference can clearly reflect the social perspective and influence on consumer behaviour. Amongst these respondents, about 35% respondents prefer shopping with group of friends or colleagues. That means, the possibility of socio-cultural interaction during the purchasing process is very high. On the other hand, 75% of the respondents select low preference for friends and family members. Therefore, as per the respondents they admit that the review of the family members is not essential, however it has a clear space in their decision making process.

On the other hand, 25% respondents want to shop alone. It represents among the customers who have nuclear family, few customers’ wants to shop alone. About 60% of the respondents have annual income of 30 to 70,000.  At the same time, the shopping frequency of 40% of the total respondents is shop once in 15 days. Apart from that, Value for money is highly preferred by 50% respondents. It has been found that family income has a significant impact on social perception and the consumer’s buying decision. Only 15% of the total respondents perceive promotional event based advertisement like in beauty festivals, award show, food fair and others. It refers that most of the respondents does not perceive the promotional influence from social gatherings (Cantallops and Salvi 2014). It clearly indicates that the social and cultural perspective has a significant impact during the purchasing decision. However, the social or cultural perspective does not influence pre and post purchasing process considerably. 

Psychological impact 

As per the psychological theory of consumer behaviour, the psychological influence on any consumer behaviour is high. The consumer psychology influence the needs and expectation of the customer before, during and after the purchasing process. The quality and service related to the products are not only regulator of the consumer experience. However, the pre-purchasing expectations of the consumers have significant impact on the post purchasing satisfaction level (Goh, Heng and Lin 2013). Most of these expectations are generated from promotional activities of any brand or company. 30% of the respondents perceive promotional activities from Television a advertisement. On the other hand, 40% of the total respondents perceive advertisements from online activities. Therefore, promotional activities in online marketing have to be more sincerely developed to influence the consumer experience properly.

 Demographical background has significant impact on consumer psychology. Around 35% of the participants are 25 to 35 years old. As per the survey report, most of them prefers online marketing for electronics product. 60% respondents prefer supermarket for purchasing grocery and fruits. 70% of the respondents prefer online purchasing for electronics goods. Therefore, from the findings it is clear that demographical background has significant impact on consumer psychology and subsequently on consumer purchasing decision making process. Throughout the history of psycho-physiological analysis has proven that Gender identification has clear impact on the individual psychology and preference. With this regards, among the respondents of the survey, around 65% are female. At the same time, 40% prefers mall and 30% prefer online shopping for purchasing garments and cosmetics (Solomon et al. 2014). Considering that the overall physiological reflection of the survey report is generated from the most of the female participants, the gender individuality has significant impact on the purchasing choice and location choice as well.

Conclusion 

From the above survey analysis and discussion, it can be said that, Consumer behaviour is a collective outcome of various internal and external factors that influence consumer’s perspective, psychology, expectation, motive, attitude and emotion. Any business organisation should develop their marking strategy and business process by prioritising the consumer behaviour. The aim of this paper was to critically analyse and explore the driving force of perception, attitude, motivation, group and individual differences, culture, family and lifestyle that influences consumer behaviour as well as the purchasing decision of consumers. From the survey, various supportive as well as contradictory data and information can be gathered. As per the findings of the survey, it can be argued that the internal and external factors does not interact all phases of purchasing procedure similarly.

From the above survey analysis and discussion it can be said that, the impact of family members are not always effective during the purchasing time. individual tends to discuss with his or her immediate family members about their experience and preferences before making any particular purchasing decision. Similarly, the possibility of socio-cultural interaction during the purchasing process is very high. Apart from that, most of the respondents do not perceive the promotional influence from social gatherings. It clearly indicates that the social and cultural perspective has a significant impact during the purchasing decision. After analysis psychological impact it has been found that promotional activities in online marketing have to be more sincerely developed to influence the consumer experience properly. Considering that the overall physiological reflection of the survey report is it can be concluded that age and the gender individuality has significant impact on the purchasing choice and location choice as well. 

Reference: 

Cantallops, A.S. and Salvi, F., 2014. New consumer behavior: A review of research on eWOM and hotels. International Journal of Hospitality Management, 36, pp.41-51.

Foxall, G.R., 2014. Invitation to consumer behavior analysis. In Consumer Behavior Analysis (pp. 23-40). Routledge.

Goh, K.Y., Heng, C.S. and Lin, Z., 2013. Social media brand community and consumer behavior: Quantifying the relative impact of user-and marketer-generated content. Information Systems Research, 24(1), pp.88-107.

Griskevicius, V. and Kenrick, D.T., 2013. Fundamental motives: How evolutionary needs influence consumer behavior. Journal of Consumer Psychology, 23(3), pp.372-386.

Hosany, S. and Martin, D., 2012. Self-image congruence in consumer behavior. Journal of Business Research, 65(5), pp.685-691.

Kahneman, D. and Tversky, A., 2013. Choices, values, and frames. In Handbook of the Fundamentals of Financial Decision Making: Part I (pp. 269-278).

Mullen, B. and Johnson, C., 2013. The psychology of consumer behavior. Psychology Press.

Reed II, A., Forehand, M.R., Puntoni, S. and Warlop, L., 2012. Identity-based consumer behavior. International Journal of Research in Marketing, 29(4), pp.310-321.

Rucker, D.D., Galinsky, A.D. and Dubois, D., 2012. Power and consumer behavior: How power shapes who and what consumers value. Journal of Consumer Psychology, 22(3), pp.352-368.

Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). London: Pearson.

Vohs, K.D., Baumeister, R.F., Schmeichel, B.J., Twenge, J.M., Nelson, N.M. and Tice, D.M., 2018. Making choices impairs subsequent self-control: A limited-resource account of decision making, self-regulation, and active initiative. In Self-Regulation and Self-Control (pp. 45-77). Routledge.