CompanyThis assessment will cover certain questions:
- What are the stages managed in consumer behavior?
- Elaborate with the marketers in the decision-making process
- What is the application of theory?
INTRODUCTION
Consumer behaviour refers as the ideas and behaviour of customers who uses at the time of purchase something. This is related with different behaviour where business concern identify the needs of people and provide products accordingly which attracts customers and make profits (Visscher and et. al., 2017). To understand about consumer and its buying behaviour The Churchill has been selected that is five star hotel located on Portman square, north of Marble Arch in central London, England. This Hotel is operated by Hayatt Hotel corporation. Different topics are covered in this report such as consumer behaviour and its importance, ability to map a path to purchase in given category by focusing on decision making process, importance for marketers for mapping a path, proper form of research to understand influence decision making process in context to B2B and B2C. Moreover, how marketers influence the different stages of decision making process covered in this report.
Task 1
P1 Stages of Consumer Decision Making Journey
Consumer behaviour is consider as the process which is used by consumer to purchase the products and services effectively. Business is depends on customers who purchases goods by knowing their needs and income level. Consumer map is stated as journey which is used by people to buys the products and services. This journey involves various stages which used by customers make the buying decision (Customer's buying process, 2019). In context to The Churchill is providing better quality of food, staying facility, attractive accommodation as per people's wants which helps to increase the productivity and profitability. People make buying decision after going through all steps that are as elaborated:
Need Recognition
This means whenever customers plans to buy some thing then firstly it needs to recognise their needs that clears what need to purchase. For instance, some people wants to spend their vacations with their family by visiting places so they needs hotel to stay and getting better accommodation service.
Information Search
After getting needs people needs to search the information about products and services which are providing by organisation. For instance, people who want to go outside starts to research and collect the information about different places and others.
Alternative Evaluation
After collecting information, customers evaluates the all information where it compares with others under map journey which helps to make right decision. In context to The Churchill hotel, various information are collected by customers which are providing by such organisation (De Mooij, 2019).
Pre Purchase Stage
In this step, customers perform map journey by focusing on pre purchase stage where it compare with other organisation and helps to take correct action. By comparing with other hotel or services in context to The Churchill hotel, information are collected by customers by using websites, social media and others which helps to make buying decision.
Purchase Stage
After identifying various information by people on the basis of price, income level, services etc and purchase the products. In context to The Churchill hotel, various information are analysed by customers and make decision to book the hotel as per cost which helps to maintain get the effective products and services.
Receive Stage
In this stage payment made by customers after getting satisfaction for the purpose of buying products and services. In context to The Churchill hotel services are enjoyed by customers which helps to satisfy the demand wants and create good experience.
Post Purchase Evaluation Stage
In this stage, customers take test or examine the experience which helps make further purchase decisions in future. Customers also further provide feedback form which helps management to improve and increase more customers.
Levels of Consumer Decision Making
Routine Problem Solving
This means when customers et information about routine products in that case there is not need to thing deeply for the purpose of buying products. Here, the level of making decision is low because consumer buys products for daily uses.
Extensive Problem
Customers buys products and services after solving their problems while purchasing. Sometime customer have many options to opt the products and services that states the high level of consumer decision making (Evans, Welch and Swaffield, 2017).
Limited Problem
In this customers get solution of their problem effectively which helps to buy the products or making buying decision.
In this, customers are able to find different solution for their problems and buy products and services.
P2 Importance For Marketers to Map Path to Purchase Consumer Decision Making
Mapping a path is consider as journey where customer make decision to purchase the commodities and services. Marketers are playing an important role in business organisation who helps to increase the sale by attracting customers. For marketers, to map a path is important because it get information what customer wants and how it can be satisfied. In other words, marketers is the link between customers and organisation who analyses the needs and provide information about attractive products and services which highly satisfy the customers (Lin and et. al., 2019). In context to The Churchill hotel, marketers are playing important role as they analyses the information and provide important information which helps to make right buying decision. There are different factors which influences decision making that are as follows:
Heuristic Factors
This means mental shortcut which helps to people to make decision which are highly influenced by current emotions. Something customers are highly connected by brand and single services due to their mentality which influences the buying decision of customers. In this factor, marketers understand the psychology of their customers and provide products and services which helps customers to buys commodities. In context to The Churchill hotel, marketers understand demand of its regular customers what they wants and treat them perfectly which influenced customer buying decision positively.
Marketing Mix Factor
This consider some element such as product, price, place and promotion which influences customers to take right step while buying anything. Customers depend on such element which helps to buys the products if they are fully satisfied. Marketers influenced the customers to buy products by providing information about product, place and price which helps to make buying decision (Itzchakov, Uziel and Wood, 2018).
Technology Factors
This is also influencing factor which is used by organisation and marketers to influence customers and increase the business sale. Marketers analysis the new technology which is used to attracts the people and make easy operation in order to increase customer base. This factor influenced customer buying behaviour such as marketers of The Churchill hotel introduced from new technology like online booking and cancellation, sharing feedback and queries, e Bay, tailing etc. which attracts customers and buys hotel services and also increases C2C purchasing.
M1 How Marketers are Responding to Decision Making Process
Marketers are those who evaluate the needs and wants of people and provide information about new products which influence them and emphasis them to make buying decision. Marketers are those person who are playing an important role in business organisation which helps to connect the customers with organisation by satisfying them effectively. In context to The Churchill hotel, marketers provide important information like discount, package, facility, cost and destination which emphasis customers to buy services and increase the productivity.
Task 2
P3 Compare and Contrast The Difference of Decision Making Process in Context to B2C and B2B
B2B
This means business to business which is used to deal between two business concern in order to selling products and services (BucherÂKoenen and et. al., 2017).
B2C
This means business to customers which is used to deal between business and customers understanding their needs and wants.
Difference Between B2B and B2C Research
|
Basis |
B2B |
B2C |
|
Purchasing decision |
This means purchase decision are associated with business to business which helps to increase business sale. Herein information are collected by business concern by analysing business needs. |
This means purchase decision taken by customers by analysing the products and services effectively. Herein, business organisation analysis the needs and wants of people which helps to increase business sale by providing products and services. |
|
Finding out needs |
In it, the management of business industries identify the needs of different products which are important to operate a business successfully. |
In this, management identify the needs of customers and make efforts to operate business by providing the products according which helps to make high profits. Such as The Churchill hotel uses different methods to get the needs of people and provide products accordingly. |
|
Decision related to market size |
In B2B, The Churchill hotel classify the market size which is large on the basis of income, age, occupation and target of other business which helps to make different from others. |
In B2C, The Churchill hotel segmented the market size in to different categories such as age, income level, destination, needed facility and occupation of customers which helps to provide services accordingly. |
Importance of B2B and B2C in Business Environment
B2B
This is important run a business at wider level as it sale product directly to business in business environment. Marketers in business environment understand what other business expects and how it can be satisfied by offering products. It uses different ways or technology which helps to continue the business with the help of new technology (Aschemann-Witzel and et. al., 2017). This is linked with products and services in businesses for instance, marketers of The Churchill hotel visits the market and understand other business which helps to sale the products and services accordingly.
B2C
This is important in business environment such as it helps to maintain the good relation with customers and business. Marketers uses different techniques which attracts people and increase the productivity by increasing the number of customers. They are linked with products and services. For example, The Churchill hotel provides hotel services to people which attracts people and increase the organisational productivity and profitability.
P4 Different Approaches to Market Research and Methods of Research Used For Decision Making Process
Market research refers acknowledge about market and customers by using skills which helps to make the right buying decision. Research is done by marketers who visits the market and get needs of people which helps to maintain the number of customers. For instance, marketers of The Churchill hotel are having marketing skills and great knowledge which is used to attracts targeted customers and new one also in order to increase the productivity of organisation. This research involves two methods in market research that are as explained:
Qualitative Approach
This method is used by B2B and B2C by analysing the needs of business and customers which helps to generate high profits. Such method represents the theoretical data which is collected by sample representation, survey and observation method. In context to The Churchill hotel, managers collect the data by using observation method which help to collect the information for its customers. In B2B research all data is collected by sample representation which helps to understand what business wants and how they can get success in their business (Verain and et. al., 2017).
Quantitative Approach
This method refers as collection of data in numerical form which helps to work accordingly and make decision accordingly. For example, the marketing manager of The Churchill hotel uses this method under B2B and B2C research where it collects data by using sample survey and questionnaire which helps to maintain wide range of customers and business by influencing the people.
Pareto principle is used by The Churchill hotel in market research in order to make buying decision process that are as defined:
Skill Set
There is required different skills set in B2B and B2C research which helps to make buying decision. For example, manager of The Churchill hotel are required management skills, coordination, communication and mathematical skills in B2B research which helps to perform a business in business environment. And in B2C research are required leadership, marketing, communication, mathematical results and technical skills which helps to keep records of information that can be used to improve the business performance (Singh and Verma, 2017).
Research Methodology
The Churchill hotel that is five star hotel provides different types of products and services by using sample observation and questionnaire method which can help to know about customers and increase the productivity.
Sample Size
This means researcher should analyses the sample size which helps to gather the information in order to make buying process. The sample size in B2B research for The Churchill hotel is not effective where as in B2C research is effective which helps to make buying decision for customers properly (Shi and Liao, 2017).
Tele Depth Interview
This means collection of information by using telephones, emails and messages which helps to keep contact with customers and business. In context to The Churchill hotel management gather the information by tele depth interview where customers have option to put query and get responds in order to make buying process.
M2 Factors Influence Decision Making and Buying Behaviour
In business environment there are many factors which influences the buying behaviour such as heuristic, technological and marketing mix which are used by organisation to influence the people and increase the market image effectively. By using this factors customers get information about cost, services and facility of The Churchill hotel which influence them to make buying process. On the other side, qualitative and quantitative approach to collect the information and provide them services accordingly.
Task 3
P5 Marketers Can Influence Different Stages of Decision Making Process
Decision making process is consider as long term process that uses to identify and choosing appropriate options in order to make right business decision. A person who make buying decision after analysing all factors such as culture, subculture, values, beliefs and buying behaviour which helps to make right decision. Herein, marketers are important who influences customers to make decision process by attracting the people (De Nisco, Papadopoulos and Elliot, 2017). For example, the marketers of The Churchill hotel focuses on culture, sub cultures, tradition and other factors which helps to provide products and services accordingly. They understand the the different culture of people and provide hotel services accordingly which helps to retain them for long period. There are different ways which is use by marketers to influence the consumer behaviour such as:
Marketing Campaign
Marketers uses this factor to influence people by using advertisement, word of mouth, promotion and others which helps to attain the business goals. In context to The Churchill hotel marketers focus on promotion in which they attracts people by offering quality of food and staying facility on the basis of their culture and subculture which processed to consumer buying decision and also enhance the organisational productivity.
Perception
This is the another way that states that how a person perceive things and keep in thoughts which help to make buying decisions. The perception of people is not same so this is important for marketers to focus on customer perception and make efforts to complete them. In context to The Churchill hotel, marketers has responsibility to understand the perception of national and international customers or target audience which provide satisfaction to people in order to make buying decision (Fan, Liu, Wang and Wang, 2017).
For Example
The Churchill hotel is a multinational hotel which provides various hotel services which highly attracts people to purchase service by making decisions. In context to B2B such organisation operate business in other sector by connected with other business concern such as travel agency which can suggest customers to avail services from respective company which helps to make buying decision.
In context to B2C, The Churchill hotel offers all services and quality of food, transportation services, best WiFi and adventurous trip which attracts customers in order to make consumer buying decision. Moreover, required information are provided by marketers with the help of advertisement, promotional activity and billboards which influences customers and make decisions.
M3 Decision Making Process Influenced By Marketers
Decision making process is continuous process which is used by customers to take the decision for particular thing. It is influenced by marketers, is consider as single player who attract the people and increase the organisational sale (Grebitus, Printezis and Printezis, 2017). In context to The Churchill hotel, needs are evaluated by marketers that what the culture and subculture of people which helps to provide products and services accordingly which helps to make the right business decision.
D1 Application of Theory, Concept and Models
The concept of consumer buying behaviour states that how customer can make decision to buy the products and services. There are different models and theories which should be use by business organisation to influence the people and increase sale. Such as The Churchill hotel is using Cognitive and Behavioural theory which helps to make the consumer buying decision.
Cognitive Theory
This refers as mental activity like remember, thinking and language which helps marketer to make buying decision in context to B2B and B2C.
Behavioural Theory
In this theory manager of The Churchill hotel observe the stimulus response, and behaviour of customers which helps to increase the skills and knowledge in order to select the appropriate product and services.
Also read: Ways in Which the Company Deals With Issues
CONCLUSION
From the above report it can be concluded that consumer behaviour is related with buying behaviour where customer recognise their needs, collect information, evaluate alternatives and purchase product in order to consume and get satisfaction. If customers are happy with products they give positive feedback which helps to increase the productivity and profitability. B2B and B2C market research are conducted by manager which helps to perform the business effectively and increase profit margin. There are different models and theories which are used by marketers to influence the people and emphasis them to buy the product effectively. Get more details about assignment help UK from our experts.
REFERENCE
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