1.You are required to identifyat least twoindividual influences that are relevant to the consumers of your firm or the firm you intend to work for (choose one product/service if more than one is offered by your firm) and analyse, specific to your firm, how these individual influences impact on the consumer purchase decision process.
2.Show how these two individual influences should be considered along with consumer decision making and experiences as discussed in chapter 10 or 11.
3.Drawing on the theories in chapters 5-11, discuss how marketers (in your organisation) can apply this critical understanding of individual influences on either consumer decision making or to help implement social change or on the acceptance of new innovation, to improve/enhance your firm’s marketing strategies.
The paper will provide information about the consumer behavior on the products of the car company Holden of Australia. Along with this the two consumer theories that affect the brand on purchasing their product from the company are also discussed briefly in this paper. Moreover, the paper also describes the influence of both the theories on the consumer decision-making process and along with it some comparing and contrasting nature with the primary competitor of the chosen brand are also discussed. Furthermore, the paper also provides information on the customer needs and for this, some marketing strategies are explained on the basis of the consumer behavior theory.
1.The company that is chosen which can influences the consumer behavior is Holden Company of Australia. Holden is an automobile company in Australia which was founded in 1856 by James Alexander Holden and Sir Edward Holden and its headquarters is situated in Port Melbourne, Victoria, Australia. Holden is also known as General Motors Holden and it is one of the leading automobile brands in Australia and make small cars, SUVs, sedans, Wagons and passenger vehicles. Along with this the company also provides engine oils, gear oils, transmission and brake fluids and many other more services that have been used by an automobile company. Among the all consumer behavior that is discussed in the class this product is mainly influenced by the two behavior which is consumer personality and self-concept and another one is the consumer needs and motivation. As per the author Ahmad, & Thyagaraj, 2015 personality is defined as the characteristics of an individual in terms of their psychology and physical behavior with respect to the environment.
Personality reflects the differences in each individual and since it an automobile company so it influences the consumer to buy the right product of their choice. There is three type of personality theories present which influences the consumer behavior are- Freudian theory, Neo-Freudian theory and the last one is the trait theory. According to Sigmund Freud’s personality theory there are three types of consumer personality that have been noticed one is primitive and thoughtless ambition that operates the pleasure of an individual, another one is the expression of ethics and morality of each individual and the last one is the control of the individual whether he should buy the product or not (Ajzen, (2015). Another theory that explains the personality of a consumer is the Karen Horney theory which also describe the behavior in three stages one is that personality of an individual is to fulfill the needs and desires by appreciating from others and another one is those who just want to fulfill the desire when they needed only and the last one is those who just do not want to fulfill their desire due to some personal reason or due to their condition (Alalwan et al., 2015).
On the other hand, the trait theory of personality mainly focuses on the qualitative measurements of the particular product. Since Holden General Motors is an automobile industry and their main aim is to understand the needs of the person so that they can fulfill all the desire of the people (Albanese, 2015). Their main motive is to influence the consumer by making innovative designs with desired color and specification so that the customer gets attracted by their product and hence there industry also gain a huge profit in the market. Apart from this for gaining the attraction of the customer towards the brand they make the unique specification of the car that influences the customer for buying this product. It is seen that the consumer behavior changes as the product launch by the company consists of some innovative ideas (Behera, 2017). This is because of the fact that the consumer gets attracted by the designs, color, and specification that makes the product different from the other brand.
Hence Holden of Australia is a car manufacturing company so their innovative design attracts the consumer to buy this product and thus it increases the growth of the product in the market (Bellotti et al., 2015). It is seen that those are open-minded have the more innovative ideas and they are interested to buy the product while those who are close-minded are more likely attracts to the product that is established in the market. For changing the concept of the consumer regarding such ideas they established their brand in the market by producing newer products with their strategic marketing style and become one of the leading brands in Australia (Cantallops, & Salvi, 2014). The other factor that influences the consumer behavior of the Holden organization is the motivation and needs of the consumer. The motivation of a consumer means the driving force that influences an individual to buy the product from the company. The motivation of an individual can influence to achieve the goals and to fulfill the desire or needs of that person.
The motivation theory which influences the consumer behavior is the Maslow’s Hierarchy of needs that represent that the company should satisfy the lower desires of an individual apart from the higher one (Drolet, & Wood, 2017). According to the motivation model there are four stages of motivation those are- learning where the individual acquire knowledge about the particular product and then make decisions that whether the product will help them in the future or not, another one is the tension that generated into an individual because of not fulfilling the need in a certain period of time, the third one is the driving force that motivated a person to accomplish their desire or needs and the last one is the cognitive method that represents the observation, belief, and knowledge of the consumer on the individual product and this is considered as the major process of this model as it includes all the process related to buying a product (Gruber, & Schlegelmilch, 2014). As the Holden is an automobile brand in Australia so it motivates the customer on buying this product. Actually, every individual has a needs or desire that can help an individual to fulfill their goals.
This goal is also related to the motivational behavior. Thus the Holden automobile company main motive is to concern with the consumer goals on their particular product and this helps them to make the car in such an innovative way as it can attract the consumer towards their company and the consumer should possess a positive behavior towards the product (Han, & Stoel, 2017). Since Holden General Motors is the oldest automobile brand in Australia so it has a positive attitude towards the consumer. Moreover in nowadays with the increasing of many automobile brands in Australia the company faces many losses. As the parent company of this brand is General Motors so the attitude of the consumer towards this brand gives a positive result (Irianto, (2015). The main motive of the company is to target the middle and upper-class individual because the car produced by this company gives strong and reliable performances. Apart from this, the Holden General Motors is considered as one of the Australian car specialists of making SUV and Minivans and hence it attains a positive opinion from the consumer.
Consequently, in the present world, the company turnover is not so much high because the main issue regarding this brand is that this company does not spread their business internationally and this causes a negative opinion of the customer regarding this brand (Kautonen et al., 2015). On the basis of the two theories of motivation and personality that influences the Holden automobile industry of Australia as well as it also influences the other automobile brand named Renault motors. Comparing this both companies on the basis of personality and motivation it is seen that the Renault Company motivates more consumer than that of the Holden motors (Lee et al., 2014). This is because of the fact that the features provided by the company brand are more sophisticated than the Holden motors. This is the main causes of fallen of the Holden brand in the present day. Furthermore, if the company notices on the needs of the customer then it can stand to that position as it will be the earlier days.
2.Holden of Australia is an automobile brand that is mainly influenced by the personality and by the motivation needs of the consumer (Lu et al., 2015). Before making a decision by a consumer some method has to be followed that includes information about the particular product, whether it is successful in the market or not and last of all what benefits that has to be found on using this product. Depending on the personality of an individual firstly the problem have been noticed regarding the product that can give them some issue in the future. Actually, the individual main purpose is to create a difference between the other similar types of product that are present in the market and which gives similar values. Actually, their main motive is to compare the product with different brands. Since Holden is a car company run by General Motors so huge amount of cost will be involved in purchasing a product from that company and thus the consumer makes a whole research about the product before purchasing it from the market (Orji et al., 2017). There are two states involved in problem recognition that depends on the motivation needs of the consumer one is the actual state where the product does not meet the existing needs of the consumer band the other one is the desired state which can fulfill all the needs of the person. Depending on the personality and needs of the consumer there are three methods of decision-making purposes occur in an individual.
One is the problem-solving method is the person will have the proper knowledge of the product and that helps him to buy the product (Papadimitriou et al., 2015). Another is the limited problem-solving capability that gives the individual basic knowledge about the product and the person have not any proper decision that whether he could buy the product or not. The last one is the routine response behavior of the person of which the individual is experienced with the product and have a positive attitude regarding it and thus purchases the product without having any second thought. The last category is mainly targeted by the company as they make a huge profit from such customer and apart from this they also want to fulfill the needs of that customer. Before purchasing a car from the Holden Company the consumer should make a search of the model of which they show interest and also compare the particular product with other product in the market. Since Holden is a branch of General Motors so it has a positive impact towards the consumer but apart from this position of the brand the customer makes a full research about the model whom they want to buy (Paul et al., 2016).
According to the motivational influence of the consumer regarding the company Holden, it is seen that some psychological, physical and financial risks are present on purchasing the car from the company (Peterson, & Umesh, 2018). As purchasing a single model from the company involves a high-cost rate so the consumer mentality is to diminish all the problem that can cause by buying a car before purchasing it from the company. Also, there are some factors that motivate the consumer of the Holden company from buying the product are lots of choices are present in purchasing and the product should be long-lasting. The people are mainly motivated on buying the product through external sources like from the net, by brochures and also through friends and families. This process includes the social factors. Apart from diffusion and adoption is also the two process that is related to the social factor. Diffusion is the process of spreading the new product in the market while adaptation means the stages where the consumer whether accepting or reject the product from their use (Rojas-Méndez et al., 2015). As a whole, this two process are related to the innovation of a new model. As Holden is a car company so it motivates the people with their innovative models and designs of their cars and hence they able to fulfill the needs of the customer.
According to the social phenomenon, diffusion is the main factor that increases the growth of the industry in the market (Sirgy, 2015). The diffusion factors will depend on the needs and desires of the customer and the company making the product in such a way as this can be adapted to the customer without having any issue. Thus on the basis of the needs of the customer the company developed new and innovative ideas of making new car model which attract the people of purchasing the product and also makes the brand successful in Australia. Hence all these categories motivates the people to purchase the product from the brand. As comparing the Holden brand with the Renault motors it is seen that the customer is mainly influenced by the Renault brand this is because of the fact that the Renault is an international industry and present in about 110 countries in the world while Holden is not an international company (Solomon et al., 2014). Due to this fact, the Renaults grabs a huge amount of customer towards their brand and thus the Holden brand faces huge losses due to this fact. As both the brand produces car-like SUV, minivans etc. but the only contrasting fact is that the features and specification provides by the Renaults motors is quite impressive than that of the Holden motors as well Renaults make newer version of car while the Holden only innovates by introducing some features of the car without having any change in the structure.
3.The theories that are learned in the lectures all depend on the consumer behavior of which the first theory is based on the consumer motivation and needs towards a particular product. As the product is chosen is a car company named Holden in Australia and hence it is mainly influenced by the consumer needs and motivation. According to the motivational theory, the marketers’ main strategy is to fulfill the needs of the customer on the basis of their problem (Teng et al., 2015). As Holden is a car manufacturing company in Australia whose main strategy is to fulfill the desire of the customer. Since nowadays the company has facing problem due to the lack of proper motivation and thus the organization has to make a proper marketing strategy for the growth of the business. If the organization has to improve their business in the market they have to make market segmentation strategy for growing their business. For this, they have to target the high class and rich people and along with this, they make undifferentiated marketing that means depending on the customer needs they make the car model and also makes advertisement regarding the model (Thøgersen et al., 2015). This motivates the consumer and hence the company will reach a higher position in the market. Another application that can increase their market rate is to promote the safety appeals related to the product that attracts the customer for purchasing it. If the customer feels happy about the product then the company can retain their previous position in the market.
On the basis of personality, the marketers have to give great care to the quality of the product so that the product can gain a huge profit in the market (Williams, & Vannini, 2016). Consumer behavior changes on the innovativeness of the products and thus the organization has to make a careful analysis of their innovation of the product. The marketing strategy of the organization should be that as it gives many unique features and specifications that attracts the customer towards their product. The success of a product mainly depends on the innovative features present in that product. So the marketing strategies of the organization will be such that it will make their product always updated so that the consumer does not get any interest in the other brand. Since the company does not update their product with the recent features so the company gets a huge loss in the present days. On the basis of personality, it has been seen that the consumer who is open-minded are more innovative than those of close-minded people and thus the main target of the marketing member is to make innovative designs and color for the model of Holden so thus it attracts the people more for purchasing their car. It can be seen that when the brand becomes so much popular in the market then it loses interest and then the company main strategy is to launch a new model with innovative designs to gain the position back in the market.
Along with this perception of the product also makes a huge change in the brand. This is because of the fact that everyone opinion on a particular product is not same and due to this the organization has to take care about the desires of the people of choosing their brand (Yadav, & Pathak, 2016). The organization marketing strategy is to determine the difference occurring in their product for which the customer does not get interested in purchasing their product and moreover it decreases the negative remarks regarding this as well as the product also gets improve on applying such strategy. Apart from this, the marketers should use Weber’s law for varying the price, quality and other things that are related to the automobile industry (Zeugner-Roth et al., 2015). According to the market, the organization has to change their marketing strategy of identifying the needs of the customer and fulfill their requirements as much as possible. For this, the organization has to show people about their brand importance and the people will get benefited from using their product.
The consumer has a tendency to buy product according to the information received by their friends, colleagues etc. and if it gives negative impact on the product then the customer does not purchase this product and this behavior of the customer should be changed by the organization so that they gained their position back in the market (Zhang, & Benyoucef, 2016). The marketing strategy is also affected by the attitude of the customer and thus for this, the organization has to maintain a positive attitude towards the brand by providing innovative designs and features and also makes service station at every location nearby so that it helps to gain the interest of the customer. Another problem that has been arising on making the decision of purchasing the product and for this, the marketer should analyze the market and makes them believe to buy this product. In case of Holden, they have to give warranty cards having more than one year time so that customer beliefs towards the brand should changes. Apart from this learning, the customer about the safety of the product is also a marketing strategy for the organization. The marketing strategy of Renaults is different from the Holden and thus it gains a huge profit in the market and become one of the leading brands in Australia nowadays.
Conclusion
The paper mainly based on the consumer behavior and decision makings of an individual of buying the product from the market. Here an automobile company named Holden General Motors of Australia is chosen as the organization. It is seen that this company is mainly influenced by the two consumer theories namely personality of the consumer and the consumer motivation and needs. The theory related to this behavior are briefly discussed in this paper. It is concluded that bolt this theory influenced the consumer decision making power that is further discussed in this context. It is seen that the Renault is the primary competitor of this brand which affects the Holden company business and due to this some marketing strategy are discussed that makes the brand successful in their business and also in the market.
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