Consumer Behavior Analysis For Business Operators

Five-step Decision-making Process Consumers Undergo

Discuss about the Consumer Behavior Analysis for Business Operators.

The behaviors of the consumer are always of profound interest to many business operators. The knowledge of understanding these behaviors enable one to understand how consumers think, feel and choose from other alternatives of brands. Users of products have various needs and therefore need for different products for their life to move on. Various products are produced by many companies of which some of the products serve the same purpose, but variation comes in due to a different degree of perfection after the utilization of the product. For this reason, consumers do not buy the product directly but consider various crucial elements before reaching a meaningful decision to ensure that the selected product is the best (Aribarg & Foutz, 2009, p. 523).

According to the interview conducted, based on the sale of Vaseline as a product by two individuals, the purchasing of the product was made due to a variety of crucial factors such as the product being well recognized, information search about the product, an evaluation of other alternatives and their purchase price and also the behaviors after the procurement of the product. From these factors, consumers are involved in simple choices of tactics that grant a satisfactory decision on when to purchase the individual product and the reason for their choosing of the product. The selection of the consumers on a product is determined by those around them when they have experience about the product swaying them to utilize the product; other factors are like the quality of the product sold, the needs of the customers, and the price at which the product is disseminated to the market. These factors are essential in determining the sale of the product to the market (Moneesha, 2002, p. 322). 

Five step decision-making process the consumers undergo entails recognition of the problem, search process, evaluating the alternatives, selection stage, and evaluation stage as discussed below;

The users of the product need to identify what they need to satisfy. There is need as a consumer to realize that they lack something which they should acquire such. The need for the product especially come as a result of the current product being used to completion and therefore need to purchase another product. In the essence, after one taken a shower or washing their faces and hands, a need to apply Vaseline to moisturized their skin arises.it is due to this need that ensures that one has a stock of the same so as when the time of use comes, it is just to pick it from the point of storage and utilize the product. At such times when the audience needs the product, advertisements of such similar products are effective when conducted to them (Yoon, et al., 2009, p. 8).

Problem Recognition

Consumers in many occasions have no skills about the product in the market that is the best to satisfy their demands. Therefore, need for the customers to carry out research for the goods or services that they need for their wants to be satisfied. This is the only simple way for the customers to employ so that they quickly establish what they are looking for in the market. In identifying the right product needed, recommendations from real people are preferred to researching in the system of instance internet which may not be real (Wirtz & Mattila, 2003, p. 656). In addition to this, experience about the product is also paramount in solving the current problems one has. In the search process employing prior experience is necessary based on the use of different products with the similar use or importance but are different.Doing this ensures that the most effective product is selected that will serve the customer best basing on the pros and cons of various products’ analysis in determining the best (Rickwood & White, 2009, p. 146).

After consumers have established the products that will satisfy their wants, the process of developing the best deals is initiated. These contracts are based on particular attributes such as the price of the product and its quality. In getting this right, customers need to read many reviews and compare prices and then at the end choosing the one that satisfies many of their needs. The decision of choosing Vaseline by the interviewee is due at the cost of the product being relatively small and standard quality of the product. It is, therefore, the most useful product according to these customers hence will remain loyal to the company (Pfeiffer, et al., 2009, p. 12).

After proper analysis of the criteria for the decision, the customer is now able to establish where and when to acquire the product. At this phase, the customers have already put into considerations the risks and the product to be bought. In this essence, Vaseline remains to be the product. In this regard, a product may be new for testing, or they may have already used the product but not yet fully adjusted (Neal, et al., 2006, p. 34).

It comes after the purchase have been conducted, the product has been utilized by the consumers to check whether the wants have been satisfied. In the regard, the product is evaluated whether it is above or below the expectations. The aim of the consumer needs to ensure that they get satisfied and adopt the use of the product in their lifetime so as to be loyal customers just because their needs are fully satisfied (Montfort, et al., 2000, p. 88).

Search Process

The product according to the interviewee, Vaseline as a product is a recognized brand not in the country, but at the global level. According to them, they have already used the product, and after analysis, the product is excellent with the ability to moisturize and protect the skin. Also when a product ids purchased in bulk by many clients, it provides an avenue for other consumers who have not used the product, test its attributes are among the fundamental factors that led to the purchase of this product by the consumers interviewed. The majority of buyers consider utilizing the product because of its defense against diseases, the product is also a waterproof barrier and it’s always growing and replacing itself. Passion and curiosity motivate the brand for skin. Skin complex and miraculous creation of nature. The demand of the product according to the studies is influenced by factors such its price that is relatively small in comparison to other related products, for instance, Nivea, hence Vaseline can be afforded by many, leading to the high sale of the product (Milkman, et al., 2009, p. 382).

The interviewee also mentioned another crucial sale determining the aspect of the quality of the product made. Every buyer whether they have a small amount of money or enough money to do their shopping, quality of the product is a determining factor as to whether to pick the product or leave it. Vaseline brands always are of high quality that made the interviewee be selecting Vaseline products whether, in small amounts or large amounts, standard quality to them is guaranteed. They were attracted towards the purchase of the product because the company involved in production conducts an excellent advertising of Vaseline products. The urge to utilize the product was driven by the attributes that were covered in the adverts comprehensively (Mata & Nunes, 2010, p. 289).

Another important reason as to why the brand was the most preferred is because can be acquired depending on the amount of money one have. Having a small sum of money does not stop one to purchase Vaseline brands. It is because various brands are produced by the company to cater for all classes of people, hence, meeting the needs of majority affects the supply and demand positively such that both the demand and supply increases. The factors driving the changes in demand and supply entails the urge to compete favorably and the need to make best products in the market. Besides, the company is dictated by this to ensure high profits are realized. (Trenton, 2013, p. 13)

Evaluating Alternatives

 It can, therefore, be concluded that in the sell of every product, customer analysis is a crucial element determine whether a product will sell or not. In the report, the three important portions include identifying the target customers or the best customers for the production company, needs of the customers well analyzed and then the two are linked together through the identification of how the company’s product meet the customer demands and satisfy them (Chung-Herrera, 2007, p. 265).The behaviors of the consumer are influenced by the factors such as marketing campaigns;  an example is product advertisement, economic conditions, personal preferences, group control and the purchasing power of the product. These are critical in determining whether the consumer will purchase the product or not. Hence, entrepreneurs before establishing a business need to study such factors that are essential in ensuring the selling of the goods and the services they are yet to offer to the consumers (Mata & Nunes, 2010, p. 289).

List of References

Aribarg, A. & Foutz, N. .., 2009. Category-based screening in a choice of complementary products. Journal of Marketing Research, 46(4), pp. 518-530.

Chung-Herrera, B., 2007. Customers’ psychological needs in different service industries. Journal of Services Marketing, 21(4), pp. 263-269.

Mata, R. & Nunes, 2010. When less is enough: Cognitive aging, information search, and decision quality in consumer choice. Psychology and Aging, 25(2), p. 289.

Milkman, K., Chugh, D. & Bazerman, M., 2009. Milkman, K. L., Chugh, D., & Bazerman, M. H. (2009). How can decision making be improved?. Perspectives on Psychological Science, 4(4), pp. 379-383.

Moneesha, P., 2002. The Marketing Review. Business Journal, 2(1), pp. 319-355.

Montfort, K., Masurel, E. & Rijn, I., 2000. Service Satisfaction: An Empirical Analysis of Consumer Satisfaction in Financial Services. The Service Industries Journal, 20(3), pp. 80-94.

Neal, C., Quester, P. & Hawkins, D., 2006. Consumer behavior implications for marketing strategy. (Enhanced 4th ed.) ed. North Ryde: McGraw-Hill.

Pfeiffer, J., Riedl, R. & Rothlauf, F., 2009. Pfeiffer, J., Riedl, R., & Rothlauf, F. (2009). On the relationship between interactive decision aids and decision strategies: A theoretical analysis. Paper presented at the Proceedings of the 9th. Internationale Tagung, Wirtschaftsinformatik.

Rickwood, C. & White, L., 2009. Pre-purchase decision-making for a complex service: retirement planning. Journal of Services Marketing, 23(3), pp. 145-153.

Trenton, M., 2013. A review of consumer decision making models and developments of a new model for financial services. Business Journal, 18(2), pp. 1-33.

Wirtz, J. & Mattila, A., 2003. The effects of consumer expertise on evoked set size and service. loyalty. Journal of Services Marketing, 17(7), 649-665, 17(7), pp. 649-665.

Yoon, C., Cole, C. A. & Lee, M. P., 2009. Consumer decision making and aging: Current knowledge and future directions. Journal of Consumer Psychology, 19(1), pp. 2-16.