Stages of consumer’s decision making process. Marketing manager is who are managing the marketing resources of products on trade. A marketing manager be in changes of one product or label for a wide arrangement of goods and services. Understand the desire from consumer is a one of the important things that marketing managers highlights. Consumer behaviour relates how consumer use and arrange of the pay for products and services.
Explain the relationship between the communication mix and branding in retailing? "Retailing encompasses the business activities involved in selling goods and services to consumers for personal, family, and household use." Retailers buy large quantities from manufacturers or wholesalers and then sells small quantities to consumers to earn profit. Retailing is important because consumers demand to have goods and services that they need. For Retailing to occur, a business must have the tools necessary for communicating to the consumers its goods and services.
THEORY AND MODEL Philip Kotler (1995) has developed model of consumer decision making process which is widely used to understanding customers purchasing decision. Kotler (1995) stated that a purchasing decision is determined by the customer’s personal characteristic and evaluation process, along with the external stimulation environment. The detail of theories will be state in the sequel: By theory of Kotler (1995), external stimulation can be divided in two groups. 1. Marketing stimulation which is linked to marketing mix (Price, Place, Product, and Promotion).
to review the rising retail trends in Asian country 4. to review the expansion trends of Indian retail sector 5. to review the factors having impact on growth of organized retail sector 6. to review the longer term prospects of organized retail sector in Asian country. Research Methodology: Information has been sourced from various books, trade journals, government publications, newspapers etc. and research is descriptive in nature. Data presented in the form of tables and analyzed in form of percent trends and chart. Organized Retail Industry Organized retail chains comprise solely third of the Indian market.
Consumer behaviour is the behaviour of consumers that buys goods and services for their personal use and these consumers combined make up the consumer market. Consumers make decisions on what they should buy everyday and most large firms try to understand the what, where, how and how much, when and why they buy the goods and services (Kotler and Armstrong, 2014). According to Nantel (n.d), the importance of understanding consumer behaviour lies in the very principle of what marketing is, which is the basic function of meeting the need of the consumer. To produce a product or service that fulfils the need that is specific need or to offer to a specific segmentation of the population, marketers need to better understand the needs of the consumers. The consumer that I have chosen for this report is a single female in her early thirties who is career driven.
In todays world, the modern marketing is based on the reverse process, in which the first the customer needs and demands are identified. The subsequent market program of the firm depends on how the market identifies the potential customer, profiles them, target them and positions his offering in the minds of customer. These concept is also known as STP (Segmentation, Targeting and Positioning). Marketer has the choice of developing a product or service and selling it to everybody available in the market. Segmentation in a business to consumer market is a process of dividing the large consumer market into smaller group of customer with the similar type of demand pattern.
To meet customer expectations and achieve higher customer satisfaction rates, Amana Takaful needs to understand what customers are looking for. The marketing department is responsible for gathering that type of data. Operation staff members have expertise in how to design the process for delivering a service. The human resource department overseas training and new skills development and finally the accounting and finance department needs to identify any new
Introduction Consumer behavior is all about satisfying the needs and wants of customers, groups or organizations by selecting, buying, and disposing ideas, goods and services. It refer to the underlined motives of the consumer in the market place. Market expects by gaining the information regarding what customer wants are for the particular goods and services, they can estimate- which product are mostly required in the market. Consumer act’s like an actor in the marketplace. A consumer plays various roles in decision process from the information provider, the user to the payer and the disposer.
Meaning and Definition of Marketing In common practice “Marketing” means the process of distribution of goods and services. The aim of marketing is to make sales in order to earn reasonable profit for the product. The term marketing embraces all resources and activities necessary to direct and facilitate the flow of goods and services from the producer to the customer. Philip Kotler defines marketing as “human activity directed at satisfying need and wants through exchange process”. According to him activities such as product development, search, communication, distribution, pricing and service contribute the core of marketing activities.
A STUDY ON CONSUMER BEHAVIOR TOWARDS ELECTRONIC GOODS ABSTRACT The consumers have to consume various products in their day- to- day life. The usage of products depends up on their needs and wants. The varieties of products available in market force the consumer to select, product at very initial stage, The selection and purchase of the products depend on the differential behavior over time, availability of information from various sources, their preference to a particular product, their utility etc. A study on consumer behavior helps the firm to provide valuable information and guidelines on new technological development. INTRODUCTION TO THE STUDY Consumers have different tastes, likes, dislikes and adopt different pattern while making