According to Kotler and Armstrong , the process of buying differs from each product or service, a bottle of shampoo, a tennis racket, an expensive mobile phone or computer and a new car.
The harder the decision, it's usually the more expensive the product is and therefore require mostly more people and time to consider before making the decision.
According to East et. However, Ehrenberg , cited in East et al. The three models of consumer decision which are used to explain the decision-making in details are:. Need recognition a information search aevaluation of alternatives apurchase decision a post purchase behavior Figure 5.
According to the automotive study done by Baltimore, Md. With the economic crisis all over the world, Thailand automotive market has also been affected in the first half of the year However, according to the Thai Farmer Bank Research Center, Thai economy seems to be getting back on track together with the other countries.
Smartfund, The Bank of Thailand has reduced the interest rate on the loans in which helps to drive the country's economic during the year. At the same time, the reducing in the sales of the cars has affected finance company and therefore these finance companies then starting to be more lenient with the buyers by offering lower interest to courage more sales which can then be identify that interest rate is one of the most important factors that influences the buying behavior of the customer towards the automobile.
Smartfund, However, the positive factors is being obstruct by the negative factor like fuel price that's been increasing and which unfortunately effect the decision of the customers in buying the new vehicles, whether or not to buy or reconsider about the model and size of the vehicles they going to buy.
Smartfund, The survey results from cars. PRNewswire, November 15, Communication research also discloses that the online car sales in U. However, people finding internet to be useful for learning about the product in the early stage to learn about the offer and advantage that they would get, but in the later stage, people would want to get back to the traditional way of purchasing and get a test drive during the evaluation stage Molesworth and Suortti, Resale values of the vehicles also become one of the factors that influence people to buy a new vehicle.
Bill Drew, president of Drew Auto Center in La Mesa mentioned that he has made 25 sales on the first day that he started offering the trade-in cars. According to Edwards , strategic vision's president of automobile, customers are now looking for the quality of the products they are purchasing, which has the long term value with the best price, even with the luxury vehicles.
She mentioned that it is important for the manufacturers to focus on improving the product quality when the economic situation is favorable. Essay UK - http: If this essay isn't quite what you're looking for, why not order your own custom Marketing essay, dissertation or piece of coursework that answers your exact question?
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Free Marketing essays Home Free essays Marketing essays Factors influences consumers buying behavior. Factors influences consumers buying behavior Review of related Literature and studies Related theories of the dependent and independent variables of this study are included in this chapter.
Related Literatures Consumer behavior According to Foxall , pp. According to this case of purchasing an automobile, the generic model of consumer decision making is can be apply to as it consists of: Need recognition Information search Evaluation of alternatives Purchase decision Post-purchase behavior.
Influences on Decision-making External factors Group such as culture, family, friends, the referrer Environmental factors such as time, temperature, etc. Internal factors Lifestyle, personality, decision making process, motivation, etc.
Word of mouth According to East et al. Demographic factors Kotler mentioned that demographic factors influenced customer's buying decision are the internal factors including gender, age, income, education level and family size. Age Age is one of the demographic variables that often use to divide the market segment as it helps marketers to understand and keep themselves up to date of the changing life cycle of each generation Dibb et al.
Gender Education level Skinner has mentioned that educated customers tend to find more information on the product they are purchasing and demand better quality products and so education becomes one of the factors that influences the decision making process. Occupation In accordance with Kotler and Armstrong , the purchase made for goods and services are affected by a person's occupation.
Income According to Statt , income is one of the variables that is used to identify the status of a person. Culture According to Solomon , culture is a society's character that includes theoretical ideas like values and ethics and physical matters and services like automobile, clothes, food, sports, etc, that are delivered or respect by a society. Social Class This can be simply defined by set of factors like income, family background and occupation. Types of buying decision behavior According to Kotler and Armstrong , the process of buying differs from each product or service, a bottle of shampoo, a tennis racket, an expensive mobile phone or computer and a new car.
The three models of consumer decision which are used to explain the decision-making in details are: In perspective of marketing, the term 'consumer' refers the purchase action and aggregation of possible patterns pre-purchase and post purchase behaviour.
Pre-purchase action includes the awareness and searching information to evaluate different products or services, which may potentially satisfy the need or want. Post purchase behaviour is an action essentially to evaluate the performance of purchased item viz. These behaviour have consequential implications on consumers repurchase behaviour, therefore they are agreeable to marketer, of course in different scale Foxall, Social science researcher have been desiring for far more cultivated and refined theoretical concepts and techniques for analysing consumer behaviour.
This provides for better understanding of behaviour, more accurate indicator of futuristic view and ensures effective discipline on consumer behaviour. Marsden, suggests to elucidate conceptually undergirded framework for consumer behaviour, understanding of fundamenatal paradigms in consumer research and their sequential evolution is important.
Paradigms can be safely studied as hypotheses researcher create to answer what to study and how to go about it Kuhn, As discussed here, a set of dimensions can be classified to portray and explain contrasts in the various views on consumer behaviour. With advent and gradual evolution of discipline of consumer behavior, researcher drew from various disciplines such as psychology, sociology, psycho-sociology to social literature Solomon, The reason for involving different discipline by social science researcher is to approach consumer issues from different angles and dimensions.
Apart from many disciplinary approaches, fundamentally consumer behavior orientation can be safely bifurcated on the basis of their inherent emphasis on intrinsic forces, of which theories are taken from psychology and extrinsic forces have their underpinning in sociology discipline.
Besides this focus of analysis ' consumer attitude differs is fundamental premise, and therefore, different aspects of consumption behavior are described by various approaches. Consumer research has been looked as growing sub discipline of marketing with an ambition to establish its pivotal application in the area of marketing, thus, study of consumer behavior or consumer research has been regarded as discipline of applied social science. In this context, the evaluation of insight or understanding generated of consumer and their behaviour is solely on its pragmatic application to improve the efficacy of marketing.
With this understanding, marketing management essentially has bearing in few concepts of how consumers behave and their response to marketer's product, price, promotion and distribution and its likely impact on the organizational objective. In developed and rich economies, the accomplishment of marketing is not driven as much by merely controlling marketing mix rather in addition is willingness of consumers to patronize, better then the competitor.
Consumer orientation marketing is the result of abundant choices and discretionary power exercised by the consumer. Foxall, Consumer Behaviour , , choice decision taken by consumer do not have implication just for competing industries, rather, it is expanded beyond the conventional definition of traditional industry and markets.
First part primarily discusses the paradigms emerged in consumer research in the period of traditional positivism, and hence earlier developed buyer behavior models proposed by economists are exhibited and later will be pursued by conventional viewpoints.
Comprehensively, the ambition of this portion is to frame attributes and key arguments of these viewpoints. An analysis of perspective is following in part two, however conventional perspective with inherent diversity in many aspects is found to be similar in terms of their fundamentals; Philosophical and methodological while exploring consumer behavior, i.
Traditionally, economists have influenced the buyer behavior modeling and economics viewed consumer behavior as solo act of purchasing and after purchase actions. This theory dictates that purchase decision is result of balanced and attentive economic calculations. Thus, buyer seeks to spend resources on those goods that will deliver the maximum utility satisfaction according to his preferences and relative price. The events of this viewpoint can be found in A.
Marshall, Principles of Economics. The Marshal model overlooks the fundamental probe in, essentially, how product and brand preferences are formed.
Westing, Pure economics cannot provide all logical explanations to alterations in sales numbers, various sub-viewpoints within the field are apt to offer explanations for psychological, preferential, and accumulated demand alterations.
As an example, the empirical analysis of economic variable for choice has been good in providing rationally explaining the changes in consumer behaviors. Lewis, Many research studies have Several studies have described the effect of price on brand preference, changes in product attributes and respective demand variation, price-demand elasticity and goods shortage on consumer choice behavior.
Paradigm such as learning theory, reiterate that internal factors influence the consumer behavior rather than external factors, which fundamentally justifies the economic purview of behavior which forms the basis of rationalism.
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