MBMM 3001 Consumer Behaviour | Types of the Products

1. what needs are being met? benefits to the consumer?

2. who is involved in the purchase process? influencers, buyers, and users?

3. What are the distribution channels?

4. how often are the products purchased?

Answers:

Introduction

Consumer behaviour is the choice of the consumers towards the goods and services. A study of individual customers, groups, and organisation to select the goods and services which can satisfy their needs and demands is the consumer behaviour study (Cohen, Prayag, & Moital, 2014). Understanding the consumer behaviour is beneficial for the marketers. Marketers can easily fulfil the wants and demands of the consumers by analysing the consumer behaviour. Different types of the products have different type of consumers who have different behaviour. In this report, vacuum industry has been taken into consideration to analyse the consumer behaviour of the consumers of the industry.

Needs of consumers

The household vacuum is growing by satisfying the consume needs towards the hygiene. The demand of the consumers are met by developing the new models of Vacuum cleaners such as fastest clean up the floors, less efforts and many others. The household vacuum cleaners have the air pump which fulfils the requirement of extracting dirt and dust from draperies, upholstery and floors (Parsons, Maclaran, & Chatzidakis, 2017).

There are many benefits which the consumers get from the vacuum cleaners such as increasing the living standards of consumer, the widespread trend of keeping the multiple cleaners in a household and escalating income levels. The vacuum pump contains the dust bag which can be throwing after the cleaning process; hygiene is the best advantage for the consumers. There are many types of models which are usable for the different activities such as robotic vacuum cleaner, wet or dry vacuum cleaner, drum vacuum cleaner and many others. The consumer gets the advantage by using the vacuum cleaner for the different purposes (Solomon, Dahl, White, Zaichkowsky, & Polegato, 2014).

Purchase process

Influencer and buyers are involved in the purchasing process of vacuum industry. Buyers are the main role in the process because they can buy the product and services from the market as per their choices and demands. It has been seen that the buyers are the main component for the vacuum industry because the company earned the profit by providing the services. Influencers play the role in the process by influencing the consumers to buy the product and services in the market. They can influence the consumers to buy the product by providing them discounts and offering them the extra benefits. Influencers put the many efforts to influence the consumers to buy the product and services. Users are not included in the purchase process but buyer buys the product as per the demand of the users. Users of the industry are very conscious towards the hygiene. So, that the influencer has to understand and develops the strategies in the context of hygiene from which the users can attracts towards the products and services (Hernández, 2016).

Distribution Channels

The industry uses the many channels to distribute the products but the most growing channel of the industry is retailing channel. Retailing channel has high scope in the market which helps the industry in selling the large amount of the product. Retailing channel includes the mail, telephones, catalogs, and many others. These distribution channels help the industry to gain the high profit over the expected profit in the year (Bhatnagar, & Kumar, 2015).

Measurement

Nowadays, a vacuum cleaner is the necessity for the homes to clean the floors and carpets. It has been seen that the developing countries support the household vacuum cleaner by buying them in the large amount. It improves the standard of living of the people; growing purchasing power of the industry and the disposable income will drive the household vacuum cleaner market demand. Manufacturers provide the variety of products to satisfy the demand of various consumers. The efforts of the manufacturers and the influencers help in increasing the demand of the product (Hofacker, Malthouse, & Sultan, 2016). The demand of the consumer is rising rapidly from 2013 to 20117. It has been estimated that the demand of consumers is grow with the rate of 4.5% CAGR from 2016to 2024 (Global Market Insights, 2018).

Conclusion

From the above analysis, it has been concluded that the vacuum industry is growing continuously by the increasing rate. The demand of the consumers is increasing due to satisfying their needs. Analyses of consumer behaviour help the industry to increasing the demand. The consumer gets the many advantages because the marketers analyse the consumer behaviour then offers them the product which can easily influence the customer. The industry will achieve high growth in the future.

References

Bhatnagar, A., & Kumar, I. N. (2015). Vacuum Infusion Process for Composite Vessel Construction. International Journal of Innovative Research and Development, 4(7).

Cohen, S. A., Prayag, G., & Moital, M. (2014). Consumer behaviour in tourism: Concepts, influences and opportunities. Current issues in Tourism, 17(10), pp. 872-909.

Global Market Insights. (2018). Industry trends. Retrieved from: https://www.gminsights.com/industry-analysis/household-vacuum-cleaners-market

Hernández, J. M. (2016). Applications of Computational Intelligence to Process Industry. In Handbook on computational intelligence: Volume 2: Evolutionary Computation, Hybrid Systems, and Applications (pp. 801-820).

Hofacker, C. F., Malthouse, E. C., & Sultan, F. (2016). Big data and consumer behavior: Imminent opportunities. Journal of Consumer Marketing, 33(2), pp. 89-97.

Parsons, E., Maclaran, P., & Chatzidakis, A. (2017). Contemporary issues in marketing and consumer behaviour. Routledge.

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