Consumer Buying Behaviour Model Implementation On HelloFresh Website

• The consumer behavior model is centered on the ideology that consumers’ buying patterns are influenced by the desire to maximize benefit while minimizing the overall cost. Therefore, the ability to predict consumer behavior is hinged on the assessment of economic indicators like pricing strategy of competitors and the purchasing power of consumers (Jisana, 2014).

• For example, a consumer will procure the same services from another provider if they are availed at a lower prices and in a manner that maximizes the consumer’s benefit. A rise in consumer disposable income or purchasing power.

• Problem Recognition: HelloFresh identified a consumer need that required to be satisfied. Most people want to have a home cooked meal that is tasty and affordable but majority don’t know which ingredients to get for a good wholesome meal. HelloFresh bridges the divide to deliver recipes and ingredients to consumers’ homes (Jisana, 2014).

• Assessment of alternatives: The presence of fast food chains and businesses that deliver foods in the market meant that HelloFresh had to provide a diverse menu and very affordable prices to appear to consumers

• Purchasing decision: The consumers are offered differentiated meal plans that will favor people with varying budget. As such, the consumer will select a preferable plan will an idea menu and proceed to make payment on it (Jisana, 2014).

• Post Purchase: The clients are given the opportunity to rate the service the receive and provide feedback to HelloFresh. By reviewing consumer feedback, HelloFresh is able to better their services their by securing consumer loyalty and improving on consumer satisfaction.

• Consumer buying behavior models help to determine the clientele of a given business. This information is used for segmented and targeted campaigns aimed at attracting a given niche of consumers to continue buying HelloFresh services.

• Moreover, consumer buying behavior models are used to create sales forecasts and set sales targets that need to be fulfilled by the end of the financial period. By so doing HelloFresh is able to plan and budget appropriate in a manner that will minimize cost and maximize benefit to consumers.

• In addition, a business can use the consumer buying behavior model to determine the competitive advantages of the organization. Competitive analysis allows a HelloFresh to understand its position in the market relative to other providers like Blue Apron and Home Chef(Jisana, 2014).

• Advantages: The model aids in the development of new services and pushes for innovation within HelloFresh. Moreover, the mode helps with development of appropriate marketing strategies, and proper market segmentation.

• Disadvantages: In numerous cases the spending habits of consumers are motivated by fashionable activities and social popularity. As such, once the popularity of delivering ingredients for a home cooked meals becomes faded the ability of HelloFresh to sell the service may become difficult.

References

• Jisana, T. K. (2014). Consumer Behaviour Models:An Overview. Sai Om Journal ofCommerce & Management , 1-10.