Consumer Behaviour Based On The Purchasing â€Myassignmenthelp.Com

Question: Discuss About The Consumer Behaviour Based On The Purchasing? Answer: Introduction An individual's social, cultural, and emotional factors play a crucial role in describing the purchasing behaviors of that particular consumer (Cohen, 2017). The general behaviors of the consumer are adversely influenced by the also these factors. For example, an Australian or American consumer has freedom, individualism, achievements, and other choices (Cohen, 2017). On the sub-culture aspect, the religion, ethnicity, geographic location, and race may have an impact on the consumer's behavior and spending patterns (Brennan, 2016). The aspect of the social class is made up of consumers who have similar education, taste, superiority, feeling, and inferiority feeling. The high-involvement product consumer is built on the analysis and evaluation of the same consumers behaviors (Nguyen, 2016). It is very important to analyze the tendency a given consumer looks at before purchasing certain goods and services. Currently, different organizations are seeking information through their sales representatives to find out the behaviors of the consumers (Cohen, 2017). This way, they can develop or maintain their products to have a competitive edge in the market. On the other hand, companies dealing with low-involvement products such as the chewing gums, glucose, razor blades apply promotionally, or publication means to market their products. The means of promoting this type of products may involve the use of social media, coupons, and conventional print media. Also, to effectively promote this type of products, the concerned organization may settle on giving free samples to appeal to more customers. Nonetheless, for high-end products such as houses, motor veh icle, motor bike, and other heavy duty commercial products, companies may involve the services of call agents to answer to clients concerns. The organization selling high-end products relies on developing a brand that consumers find it easy to trust to impact consumers positively. The purchasing behaviors of the consumers may have a negative impact on the intention of the customer to buy a particular product. In the marketing perspective, the consumers behaviors of buying can be viewed as perceptions and routines depicted by the purchaser while purchasing given products. For a sales agent, having a quality knowledge concerning the purchasing behavior of the customer can be perceived as one of the key aspects, which follows a crucial connotation amounts according to the strategic perspective. The analysis of the daily purchases can be viewed as one of the major approaches consumers buying behavior can be assessed and examined. This study aims at analyzing the author's daily purchasing trends based on the seven day recorded purchases. The study will examine different trends and habits of purchasing through the aid of marketing theories and concepts. The key objective of this report is to come up with key insights on the consumers purchasing behaviors. These insights are aimed at marketing and organizational managers at different levels. This will be arrived after exploring key findings and theories involving the customer's behavior. The report is arranged in two broad categories. The first category is made up of the analysis of findings from the consumer's seven-day shopping list. The other part is made up of theoretical explanations and literature based on the findings. The report starts with describing the consumer, explains theoretical aspects of the context about consumer's purchasing patterns, explores hi and low-involvement products, and concludes with insights for the marketing managers. Consumer Description From a solid perspective of marketing decisions, a sales agent is needed to come up with a decision on a particular segment he/ she feels can easily target (Nguyen, 2016). According to this notion, consumer segmentation and consideration can be arrived at based on their geographic, buying behaviors, psychographics, and perspectives. The profiling of the consumers in this report can be exhibited as follows: Consumer Segment: As described in the theory of marketing segmentation, the classification of the consumer segment can be done in various basis. Basing on this perspective, the consumer under the study fall under two categories, psychographic and demographic. Psychographic: Psychographic is an essential way of comprehending the segmentation practices of the consumer (Samuel, 2016). In marketing research, it refers to the study and classification of people based on their attitudes, aspirations, and psychological issues(Localdirective.com, 2017). The consumer under this study depicts a high and positive attraction towards brands from multinational corporates such as the McDonalds. Also, in his buying behavior, he is affected directly by the convenience. Demographic The consumer is a 21 years old undergraduate college student, whom besides studying, he is employed part-time as a way of increasing his income. Based on the purchasing behavior, the consumer comes from a middle income and literate family background (Nguyen,2016). According to (Cohen, 2017), the product preference is varied depending on the group or a class of the consumer. These are directly linked to the demographic characteristics of the purchaser, which comprises the income level, age, household, and ethnicity (Localdirective.com, 2017). Therefore, the purchasing behavior of the case consumer fits perfectly in the provided descriptions. Purchase Preference The case consumers show a high degree of preference towards spending on the brands from big multinationals and for the products that are of high convenience. Additionally, he demonstrates a liking for fast food products. Purchase Behaviour The purchasing behavior of the consumer under this study shows that he belongs to a middle-class earning. However, the consumer cannot be categorized as a high-income earner. The consumers under high-income class have a high intention of purchasing. This is not demonstrated in the purchases of the consumer. The consumer under this study loves to purchase necessities. The frequency of purchasing luxurious goods is not demonstrated, hence it can be said to be low ("Young Optimism," 2017). The consumer is most interested in routine household products. The consumer falls under Young Optimism when categorized according to Roy Morgan's segment. The Young Optimism refers to the response patterns of an individual which are related to being optimistic in the search to increase prosperity to gain a respected place in the society (Juster, 2016). This type of character is found mostly in the majority of young adults. Majority of individuals under this category are more into personal image and style. They are conscious of the kind of image the demonstrate, at such, they are more careful. Most of the people under this segment are college students. They engage more in thinking that is long-term oriented, and most instances, they are preoccupied with their professional and plans (Juster, 2016). The psychological aspect related to this category is the desire to get the finest out of life through family, career, traveling, and friends ("Young Optimism," 2017). The individuals under this category are experimental, and in most cases, they would love to experiment activities such as long distance traveling, skydiving, and other related ac tivities. This kind of people, since they are more energetic, they love playing and working hard. They are quite creative and marvel in technological advancements. Analysis of Weekly Purchases using Relevant Marketing Theories In his research paper, (Brennan, 2016) suggests that there should be a deep analysis of the spending trends of the consumer to make conclusions on consumer's behavior. Based on this perspective, this report has analyzed the spending behavior of the case consumer to get insights on the overall consumer's behavior. Juster (2016) notes that various purchasing behavior theories can be applied to discuss and analyze consumers' trends. This report has an analysis of the consumers purchasing behavior based on his seven-day shopping trends provided in an excel file. The consumer made the purchases for a period of one week starting from Monday morning to Sunday afternoon. The weekly spending trend indicates that the consumer's most purchases were mostly conducted at night. The percentage spending at nights stands at 41% of the total purchase conducted. For instance, on the first day, the customer did not purchase at the morning hours, one at an afternoon, and three purchases at night. However, it is of significance to note that, the consumer purchases were mostly over the counter foodstuffs. This depicts that the consumer has a preference to convenience purchases (Brennan, 2016). The high rate of spending at night is linked to the fact that the consumer has more time to shop during night time as compared to the morning and afternoon hours. The customer purchasing trend points that he is likely to be most occupied at morning and afternoon hours as compared to night hour. Additionally, the payment method for the purchase made over the week demonstrates that the consumer prefers electronic payment over cash transactions. Regarding percentages, the electronic payment method comprises 76 percent of the total purchase. Whereas cash payments consist only 24 percent of the total purchase. The pie-chart below depicts the payment methods of the consumer over the week. Most of the cash transactions are spend on convenience purchases and when purchasing inexpensive products. The mode of payment demonstrated by the buyer can be explained through the theory of economic purchase (Brennan, 2016). This theory highlight that electronic or credit purchasing is perceived by the majority of the population as being effective and economical as compared to cash purchases. Additionally, based on the perspective of individual context also referred to as black box theory, the social and cultural perspectives have a high impact on the purchasing patterns of the consumer. The theory states that a consumer will be most likely to conform to behavior patterns of the people in the immediate surrounding. In this regard, friends, schoolmates, and family have a high impact on the behavior of the consumer. For instance, the consumer may be motivated to use electronic payment method to suit in a given social group. The social status theory states that the consumer's traits are essential in establishing the purchasing behavior of that consumer which may include his personality, motivation, lifestyle, and attitudes (Ashe-Edmunds, 2017). This theory highlights that consumers at times normally purchases some products to fit in a particular social orders. It asserts that a consumer may purchase in some situation unwanted expensive product to be perceived by an individual in his social class as successful (Schiffman, Wisenblit, 2015). In the provided shopping list, the consumer on three occasions bought products that were motivated by social aspects. Similarly, in two instances, he bought products to meet his psychological satisfaction. However, most of the consumer's purchases are motivated by self-actualization needs, followed by esteem, social, psychological, and safety. All these motivations are linked either directly or indirectly to the social status of the consumer. The following graph demons trates the motivation needs of the consumer. The consumer's purchasing habit is influenced highly by the consumer's purchasing motivation habit (Ashe-Edmunds, 2017). All the consumers' needs were influenced by motivational needs. The self-actualization tops the consumer's motivation needs. Self-actualization concept is greatly described in the Maslow theory of the hierarchy of needs. According to Maslow (Brennan, 2016), a person's purchases is led by different levels of needs. This needs will depend on the type of the product the consumer will put on his list of priority. Further, the theory explains that an individual can only progress from the next level after fulfilling the preceding needs. From the analysis, the consumer under this report can be analyzed through various theories. High-Involvement Product In future, as a consumer of product and services, my involvement in purchasing will increase in aspects of purchasing electronic products such as mobile phone gadgets, to be specific, I would love to purchase a red iPhone 7 plus (NDTV Gadgets360.com, 2017). The unique features presented in this mobile phone model, are ideal for my routine life. The phone is developed with most advanced and sophisticated technologies that provide a memorable experience to the user. The phone is designed with an advanced, high-quality camera which can take images of high quality at any time of the day. Additionally, its battery power life is high in comparison with other models (Epstein, Mills and Smith, 2016). My color test is red, that is why I would love the phone to be in red color. Apart from my color preference, the iPhone red has a sparkling characteristic which makes it even more appealing. The model has an operating system that supports most of the downloadable application software. The suppor ted applications include Apple News and Maps, redefined photo applications, and other school and home programs. Based on the product integrated concept of the market theory, the layers of the product which bring about the interest in a buyer to buy a given commodity or service are varied (Saylordotorg.github.io, 2017). For example, in the field of technology, the targeted customer can be attracted by various offers (NDTV Gadgets360, 2017). Also, as suggested by the theory of consumer's purchasing behavior, black box, the sensory information associated with a particular product makes the buyer view a particular commodity as distinct. The concept further, suggests that these aspects initiate the buying of a given commodity by impacting the purchasing behavior pattern of the consumer (Saylordotorg.github.io, 2017). Hence, the desire to purchase Apple product is linked to different marketing theories. Comparison Between Low and High-Involvement Consumers Often low-involvement consumers depict a routine response behavior. They decide to purchase items based on the limited information collected in the past. On the other side, high-involvement consumers are keen when making purchases. This is because the products are complex and associated with high risks to the consumers (NDTV Gadgets360.com, 2017). At such, before actual purchasing, the consumers collect all relevant information on the product before committing to purchase. Nonetheless, the consumers of high and low-involvement products have a consensus when it comes to the brand. Both of them have a preference on a given brand. Conclusion This report has analyzed the behavior patterns of the consumer based on the weekly purchases. The study has noted that the consumer's purchasing behavior can be understood through the consumer's purchasing trends. The consumer's behavior is dynamic and is highly influenced by the external environment. This external environment can be explained through various theories such Maslow's hierarchy of need, social status theory, and economic theory. It has been demonstrated that an individual purchasing decision is greatly influenced by a friend, family, and even schoolmates. The study has highlighted high-risk product and how consumers of high and low-risk products are similar or different in their purchasing behavior. This report is significant to the marketing managers and other organizational managers. For instance, this study has demonstrated that consumer's purchasing behavior is directly linked to the social status theory. The sales managers can apply the theory to relate to their cu stomers. This understanding can form a basis for constructing effective marketing materials. To reach a global market, it is of the essence for organizational managers to understand certain customer behavior. Through having a deep understanding, organizational managers will be able to formulate management policies that can advance their brand globally. For marketers engaged in the promotion of different brand, it is important that they conduct their promotion processes based on the behaviours of the consumers. References Ashe-Edmunds, S. (2017).Examples of Marketing Theory. [online] Smallbusiness.chron.com. Available at: https://smallbusiness.chron.com/examples-marketing-theory-21058.html [Accessed 3 Apr. 2017]. Brennan, L. (2016).Social marketing and behavior change. 1st ed. Cheltenham: Edward Elgar Publishing. Cohen, G. (2017).Relevant Marketing Consumer Behavior Theories. [online] Smallbusiness.chron.com. Available at: https://smallbusiness.chron.com/relevant-marketing-consumer-behavior-theories-20800.html [Accessed 1 Apr. 2017]. Epstein, Z., Mills, C. and Smith, C. (2016).The 12 best new features of Apples iPhone 7. [online] BGR. 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