Consumer Behavior

Consumer Behavior

Introduction

Consumer behavior is the investigation of people, gatherings, or associations and the procedures they use to choose, secure, utilize, and dispose items, products, encounters, or thoughts to fulfill needs and the effects that these processes have on the buyer and society. It mixes components from brain research, human science, social humanities, showcasing and financial matters (Solomon et al, 2012). It endeavors to comprehend the choice making procedures of purchasers, both exclusively and in gatherings, for example, how feelings influence purchasing conduct. It considers qualities of individual consumer’s, for example, demographics and behavioral variables trying to comprehend individuals’ needs. It likewise tries to survey impacts on the purchaser from gatherings, for example, family, companions, games, reference gatherings, and society by and large.

Understanding consumer behavior gives the marketer an opportunity to see the effects of demographical variables on consumer preferences (Solomon et al, 202).  Marketers apply this knowledge to segment customers when marketing their services and products. The consumer’s responses vary depending on the product and individual background such as lifestyle (Schiffman et al, 2009). For instance, when a company is marketing a car it segments the consumer’s according to their preferences which differ across demographic variables. Individual lifestyle attributes of interest may affect consumer’s preferences.

Lifestyle of an individual affects the consumer’s choice on products to buy. For instance, the type of car the consumer wants will be influenced by his lifestyle. An example of lifestyle that may influence the type of a car that a person wants to purchase is highly affected by his beliefs and value systems (Schiffman et al, 2009).  A consumer’s religious beliefs will influence the type of car that he will buy. A very religious person will consider buying an expensive vehicle as extravagant. He may consider the poor and less fortunate in the society and think of how the money could be used to set up structures or programs to assist the poor. This will help the needy meet their basic needs (Schiffman et al, 2009). According to the religious beliefs of the man everyone has a responsibility towards the needy and thus the consumer might not buy the expensive vehicle and opt for a cheaper one. Political rationales of the consumer may influence the interest of what type of car to purchase. An individual might fail to buy a car because of high cost of maintenance (East, 1995).  In some cultures buying of expensive cars is considered as a sign of accomplishment and such individuals are respected in the community. So somebody may end up buying expensive cars to raise their social status in the community.  On the other hand buying a car can be viewed as wastage of money that could have been used in other important projects.

Social factors such as hobbies, entertainment, vacations and recreational pursuits are among the factors that influence the type of car one wants to drive (East, 1995).  If an individual has a hobby of buying and driving cars he will definitely be buying cars in the market.  Individuals who entertain themselves by race cars buy cars to participate in such races.  People who frequently go for vacation and recreational pursuits may need a car for transportation and thus they will have to buy cars. Depending on the life stage of a consumer e.g. A teen, Aged, Middle-aged different preferences on cars (Solomon et al, 2012). For instance, a teen would prefer a trendy car like a convertible as opposed to an aged who will prefer a simple car. Psychographics plays a major role in ones choice of a car. Personality and emotional based behavior is linked to an individual’s purchase. Risk takers might buy any car without getting all the details about it as opposed to risk avoiders who would first get to know the details of the car before buying.

Interview on Consumer Behavior.

The research used in interview method for collection of data. The aim of the research was to see whether preferences differ across demographic variables that marketers use to segment consumers.

The interviewees consisted of six individuals including three men and three women. Different responses were given depending on the individuals preferences on the type of the car in the market.   The three males interviewed consisted of a young man, a middle aged man and an elderly man.  The three women that were interviewed included a young woman, a middle aged woman and an elderly woman.

These are the list of questions that the interviewees were asked and their individual responses.

The researcher: What type of car would you want to buy?

The young man: Ferrari would be my ideal car. I like its luxuriousness.

The researcher:  What is your ethnic al view on buying a car?

The young man: Buying a car portrays my family’s social standards.

The researcher: What type of car would you want to buy?

The middle aged man: I would like to buy a posh car like Mercedes Benz. This will improve my social status in the society.

The researcher:  What is your ethnic al view on buying a car?

The middle aged man: It is basically important to be a car in order to be considered of a certain class in the society.

The researcher: What type of car would you want to buy?

The elderly man: I would buy a simple car that is less expensive and easy maintain and operate. I think a car is not amongst the most valuable things in life.

The researcher:  What is your ethnic al view on buying a car?

The elderly man: A car is just a basic means of transport.

The researcher: What type of car would you want to buy?

The Young woman: I don’t think a car is really necessary at my age. Buying a car is risky because of repairs and theft. I’d rather invest in another venture.

The researcher:  What is your ethnic al view on buying a car?

The young woman:  A car is an unnecessary added cost in maintenance and repairs.

The researcher: What type of car would you want to buy?

The middle aged woman: Buying cars is my hobby.  I like showing off my collection of cars to family and friends.

The researcher:  What is your ethnic al view on buying a car?

The middle aged woman: It is a basic necessity I every household.

The researcher: What type of car would you want to buy?

The elderly woman: I better use that money in charity work. My husband’s car serves us both.

The researcher:  What is your ethnic al view on buying a car?

The elderly woman: Money should be diverted to other crucial places in the society than buying of cars.

Result findings and analysis.

From the research both men and women would generally want to buy a car. According to cultural value for example, both man and women in middle age both would want to buy a car and would be a good target for marketers. They are in the working class and financially stable. The elderly women and men do not opt to buy cars and would rather spend their money on charities and other venture. Some of the respondents do not value a car at all and would consider buying a car as a risk e.g. the young woman, while others support buying of cars e.g. the young man. Religious beliefs are contrary to buying of cars for luxury. The money would rather be used for helping out the needy in the church and for charities e.g. the elderly woman. Different ethic groups have different ethnic views on cars e.g. the middle aged woman on being interviewed stated that cars are a basic necessity whereas the young woman said that cars were not a necessity at all.

Strategies

The marketers need to advertise their products i.e. cars and car accessories on social media such as TV, Radio, Newspapers and magazines to ensure that they reach a wider market.

Companies need to come up with new technologies and innovations to manufacture new car models.

This includes cars running on solar energy reducing cost of fuel. This new technologies should be advertised on social media.

Marketers should start educating people on how to curb risks such as car theft by installing tracking devices on their cars, or enrolling into insurance companies. Marketers should post tutorials of installing tracking devices in their car online and on social media.

Marketers during their marketing campaigns should be inclusive to all members of the society no discrimination based on age, cultural values, religion and beliefs. These campaigns should be advertised all over social media.

The marketer should hold programs such as seminars, summits and trainings about their products and how to use it. This training can be conducted in radio and TV sessions,

Marketers should also consider the price tags of their types of cars to make them affordable and relevant to the product quality standard and make. This can be printed in daily newspapers, magazines for customers to easily asses the information.

Reference

Solomon, M., Russell-Bennett, R., & Previte, J. (2012). Consumer behaviour. Pearson Higher       Education AU.

Schiffman, L. G., & Kanuk, L. L. (2009). Consumer behaviour. New Delhi, PHI.

East, R. (1997). Consumer behaviour: Advances and applications in marketing. Prentice Hall.

Solomon, M., Russell-Bennett, R., & Previte, J. (2012). Consumer behaviour. Pearson Higher       Education AU.