The changes that are being undertaken by the organizations are based on the requirements of the consumers. Therefore, in order to cope up with the changes in the market the companies formulate strategies based on the requirements of the consumers for maintaining the sustenance in the market. The most important step that is being undertaken by the organizations is based on the rate of retention of the consumers. The rate of retention helps in determining the situation of the organization in the market. Therefore, the organizations undertake strategies in order to ensure the safe availability of their products in the market. The report that follows emphasizes on the consumer buying habits and the organizational structure that facilitates the buying habits of the consumers largely. It aims at examining the key concepts of the buying habits of the consumers abased on the requirements and the ethics of consumerism. The globalization has helped the organizations in making their improvements in the global scale. It helps the organizations in understanding the different buying habits of the consumers based on their psychology and their backgrounds. The reports aims at understanding the buying habits of the consumers based on the model and thereby determine the strategies that might be undertaken by the organization to facilitate the buying habits.
The consumer decision-making process helps in the understanding of the psychology that is being possessed by the consumer that drives them to make a buy of the product and the services. This section of the report emphasizes on the steps that are being undertaken by the consumer while deciding the buying options of a product from the company.
The recognition of the needs and requirements is based on the consumer preference of making a buy. The determination of the needs and the requirements of the consumers is an important aspect that must be considered while making the consumer decision before making a buy. Products are being framed based on the requirements of the people. Therefore, the determination of the requirements helps the organizations to develop the products based on the certain aspects of the needs and preferences. In order to buy a completely new product, the consumers decide as to the utility that might be attained from the usage off the product. It helps in determining the cost of the product from the end of the consumer (Griskevicius & Kenrick, 2013). The needs help the people to make a decision of making a buy. For example, a person shall buy a microwave oven, only when the person feels a need to buy the product and thereby retain some utility from the buy. The most important consideration that is being undertaken by the consumers while making the buy is based on the different needs and requirements of the people. The analysis of the needs and the requirements of the people help in the consumer decision-making process while buying a particular product or a service from the market.
The search for information that is being undertaken by the consumers is again an important aspect that must be considered by the consumers before making their buy. It helps the consumers in making the rightful decisions based on the needs and the preferences. The preference of the brands and the services that are being opted by the consumers is required to be revised before the consumers buys a commodity or a service from the market (Griskevicius & Kenrick, 2013). The most important step that is being undertaken by the consumers before making the buy is based on the varied requirements of the consumers, which is based on the brand preference, color and the amendments provided by the commodity or the services. The information of the brand and the product that is being required by the consumer helps in determining the right brand and thereby attains its services for the smooth functioning. The information that is being provided by the brands helps in determining the major constrains of the preference based on the requirements of the target consumers of the company. the most intriguing factor that supports the information that is being collected by the consumers before making a buy helps in maintaining the feasibility of the product and the services based on the criteria of fulfilling the requirements of the consumers (Gao et al., 2012). On the other hand, the utility that is being derived by the usage of the product helps in determining the consumer decisions making for a product. The consumers make use of the recommendations that are being made by their associates and the relatives, which helps them in gathering information on the product that they are going to buy. The online information systems also helps in determining the product’s utility and thereby bring in the sense of usefulness of the product in the mind of the consumer.
The evaluation of the alternatives helps the consumers in making their choice of the most suitable product based on the requirements of the consumers. The alternatives helps in differentiating the products based on the brand, price and the utility that is being derived from the products. The most important aspect that is being undertaken by the consumers is based on the requirements of the consumers and the relative utility that is being derived from the usage of the products (Bremer, 2015). Every product has got an alternative in the market in order to suit the needs and requirements of the consumers based on their varied preferences. Therefore, the features that are being offered by the product and the availability of the services determine the important aspects of choosing a particular brand from the range. Again, the product life cycle helps in the utilization of the product in the market (Punj, 2012). The most important consideration that is being undertaken by the consumers is based on the requirements of the product to make a significant entry into the market. The potentiality of the product to fulfill the requirements of the people helps in facilitating the choice of the consumers for the product.
The purchase decision of the consumers is characterized by the product offerings and the credibility of the product to fulfill the requirements of the consumers. Therefore, in order to bring in considerable inputs, the consumers must determine the costs that are being incurred in order to buy the product and thereby fulfill the requirements of the consumers (Vohs et al., 2014). The physical attributes of the product and the services that are being offered by the products attracts the attention of the consumers. The most important consideration that is being undertaken by the line of products manufactured by the organizations is based on the varied needs and preferences of the consumers. The purchase decision of the buyers is based on the recommendations that are being made by the associates of the buyers. The positive ratings for a particular product influence the consumer largely and thereby help in deciding the product that has the credentials of fulfilling the requirements of the consumers. The most important factor that is being undertaken by the consumers is based on the requirements of the buyers to make an analysis of the products base d on the individual requirements. Therefore, the product’s utility is being decided by the needs of the consumer (Byrnes, 2013). Suppose, a consumer requires a car for travelling to a distant place, he will not buy a helicopter definitely for performing the action. Therefore, the decision that is being taken by the consumers, relating to the needs of the consumer helps in determining the product that the consumer seeks to buy.
The post purchase evaluation is based on the ratings that the consumer gives to the efficiency and the utility that is being derived from the product. Therefore, the ratings and the feedbacks that are being given by the consumers help in determining the quality of the products and the usability of the products in the situations. It helps in determining whether the product could satisfy the requirements of the consumers or was it just a waste of financial resources that the consumers undertook (Zionts, 2012). The post-purchase evaluation helps in understanding the utility that is being derived from the usage of the product and therefore comments on the effectiveness of the products to meets the requirements of the consumers. The organizations take steps in order to improve the experience of the consumers in the post purchase stage as it helps in maintaining a good relation with the consumers (McKenna, 2012). The after-sale services that are being offered by the organizations help in evaluating the product and thereby retain the feedbacks of the consumers in order to bring in modifications in the product. On the other hand, the after-sale services help the organization in retaining the brand loyalty among the consumers. It helps in maintaining the CSR of the company that gets affected with the help that the organization extends to the consumers (Prinsloo et al., 2012). The most important factor that is being undertaken by the organization relating to the changes are based on the requirements of the consumers to get the benefits of the product and continue using the product, which results to the development of the brand loyalty.
The internal and the external factors that facilitate the consumer decision-making before buying a product or a service is being discussed in this section of the report. The internal and the external factors affect the consumers buying habits largely (Lysonski & Durvasula, 2013). Therefore, from the discussion that will be undertaken in this section, will helps in the understanding of the factors that influence the consumer decision making.
The motivation that is being attained by the consumers is based on the needs of the consumer. Therefore, in order to cope up with the needs, the consumer undertakes an evaluation of the utility that is being provided by the products and the services. It helps in determining the decision that is being undertaken by the consumers. The increasing needs of the consumers in the modern days are based on the change in the habits and the market situations. The technological advancements made by the world .has given rise to the increasing demand of the consumers. Therefore, the organizations frame their products based on the requirements of the consumers (Aguirre-Rodriguez, Bosnjak & Sirgy, 2012). It helps in determining the needs and thereby support the needs of the consumers in the area. The development of the products is based on the varied requirements of the consumers. The traits that are coherent in the consumers are being discussed in this section of the report. It analyzes the buying behavior of the consumers.
The perception of the buyers is a major factor that justifies the buying habits of the consumers. It reflects the idea of the product that the consumer is about to buy based on the requirements of the consumers (Huang & Kuo, 2012). The clear picture of the product and the utility that the consumer expects to derive from the product helps in determining the purpose of their buying habits.
The information of the product is being retained in order to make use of the utility that is being derived from the product. The utility that is being derived by the consumers is being facilitated by the information that is being delivered to the consumers on the product. The information helps the consumers in taking the rightful decisions based on the fulfillment of the needs and the requirements of the consumers. The learning attributes help in determining the most important aspects of the consumer decision-making based on the needs.
The attitudes of the consumer vary diligently. The consumers determine the products based on their needs. Therefore, the attitude of the consumers plays a major role while determining the demand for the product or the services (Reed et al., 2012). It helps in determining the different aspects of the product’s utility. The attitudes of the consumers are based on the buying habits of the consumers in order to make use of the different attributes of the coherent model undertakes steps in order to understand the needs and the requirements of the consumers. It depends on the consumer’s ability to differentiate between the luxury and the necessity. The necessity helps in maintaining the life form of a person (Kahle, 2014). On the other hand, luxury makes a person more engrossed in buying commodities, which is supposed to help them out in making their life smoother. The necessity is based on the primary needs of the human race like food, clothing and shelter. On the other hand, luxury accounts for the needs of the consumers relating to costly items that might not be required by the consumer to lead a life like buying a Mercedes car.
Personality is again another factor that influences the buying habits of the consumers. The traits of personality help in the understanding of the buying habits of the consumers largely (Yang, 2012). It helps in determining the needs as per the investments that can be undertaken by the consumer in order to fulfill the needs. The personality in various ways are identical to the attitudes of buying of the consumers (Hosany & Martin, 2012). The differentiation of the necessity and the luxury that is being made by the consumers helps in determining the buying habits of the consumers largely. It helps in determining the needs and the preferences off the consumers for higher brands and expensive commodities.
The external influences that help in the buying habits of the consumers are based on the requirements of the consumers who are looking forward to fulfill the needs through the commodities (Solomon, 2014). The social and the cultural influences that are being met by the consumers help in determining the needs of the products that are being considered by the consumers. The dependence of the consumers in determining the needs is based on the social and the cultural factors like the buying of a certain commodity based on the social culture. In the modernized society, a person buys a television set in order to cope up with the changes in the social structure. The social trends influence the buying habits of the consumers largely. The differences in the demand for the commodities help in determining the important aspects that are being undertaken by the consumers (Close, 2012).
The cultural background of the consumers and the buying habits based on the requirements of the people to adapt themselves to the change helps in the decision making of the consumers while considering a product or a service (Lin & Huang, 2012). The society influences the consumer behavior while making a buy of the commodity. It is due to the common principle of the change that is being undertaken by the organization in order to bring in the changes in the social structure (Goh, Heng & Lin, 2013). The commodities that are being consumed by the consumers in the society and the recommendations of the products made by the associates encourage the consumer in making a buy of the products and the services. It affects the buying habits of the consumers in order to make use of the commodities for maximizing the utility that is being derived from the commodities. Maslow’s Hierarchy of Needs model helps in the understanding of the needs and the requirements of the consumers based on the preferences (Refer to Appendice 2). The differentiation of the needs and the luxury is being considered as a major factor that supports the buying habits of the consumers (Lester, 2013). The basic requirements of the consumers in order to bring in the change in their lifestyle help in making the most of the consumer behavior (Kim et al., 2012). The traits of behavior that is being undertaken by the consumers are based on the needs and the preferences. The preferences of the consumers determine the buying habits and the attitude of the consumers in making a buy. The model helps in the understanding of the different needs, from the very nominal requirements of the consumers to the luxurious requirements in order to show off the assets.
The basic needs of the consumers, according to the model, refer to the foods and the clothing that is being required by the consumers to maintain a healthy living. Then comes the need for security and safety, where the consumer seeks safety and security of the assets owned by the consumers (Schiffman et al., 2013). The medicine and the healthcare facilities that are being required by the consumers to hold a healthy living helps in the undertaking of the steps that facilitates their life force. On the other hand, the luxurious needs of the consumers are also mentioned in the hierarchy model that is being portrayed at the tip of the pyramid. It portrays the buyer’s behavior in order to portray their belongingness to a particular community. Obviously, a CEO will not avail a public bus. Therefore, in order to maintain the status, the person is required to buy a luxury. Therefore, the buying habit is being influenced by the respective status that the consumers hold in the society. It helps in determining the speculative behavior of the consumers in making their buy. The subtle mentality of the buyers and the relevant changes in the demand for the commodities is characterized by the habits of the buyers in order to bring in the change according to the external environment (East et al., 2016).
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