Consumer behaviour Essay Example | Topics and Well Written Essays - 2000 words

Consumer behaviour - Essay ExampleDiscussions about external variables pointed to Wylds (2010) assertions that these be the general economic climate, technology, government and competition as factors affecting customers decision at the various stages. Scheiltz (2010) suggested another(prenominal) external factors much(prenominal) as the cultural, group and social values that sway the decision process of consumers. close process is defined as identification of needs, collecting of information, evaluation of alternatives, then finally going into a purchasing decision. (Chapter 6 Class Notes, n.d.) I. How do marketers persuade consumers victimization external variables? a. Economy The economy is the premiere factor considered as an external variable affecting consumers. The recent economic crisis is an external variable that moved(p) consumers behavior in many states of US and in Europe, and many others. On the other hand, economy has been prospering to the emerging countries in Asia. The shrinking economy encourages shifts in buyer demographics and the way products argon used such that consumers may alter their purchasing decisions, how they perceive value and where they purchase the product. Market report of Bharatbook.com (2010) said that in Netherlands, consumers decisions are today influenced by the price sensitivity, value consciousness and attitudes towards private labels as about terzetto quarters of its consumers suffered the recession in 2009. In the said market report, Dutch consumers reconsider their spending including decisions on where and when to shop and that changes shown is that now, Dutch consumers are buying labeled products because they think they save more money in the long run. This is also true in the car landscape wherein the economic crisis has changed car-buying process of consumers. To help dealers assign changes of consumer buying process, Dealer Communications reported on a conducted a research to know the pay motivations of car buyers to know if there are opportunities still open for car dealers and manufacturers, and if so, how will they adjust. In issues how the products are challenged showed the way Apple has transformed how music is bought and played thru the introduction of iPod. (Wyld, 2010) Marketers also use the power of globalisation to reach more and more country markets. Recent developments of off-shore business, in particular, the emerging economies of Brazil, Russia, India, Indonesia and China have back up multi-national companies to spread their business in these countries. Because of the improved purchasing power of consumers in these emerging countries, marketers find globalization as a driver of change in industries as motor vehicles, cell phones and credit card (Wyld, 2010). b. Technology. One of the driving forces that encourage consumers buying decisions is the use of technology. It is observed that there is a growing acceptance of internet shopping, SNS websites and the constan t growing series of internet applications. It is now easy for the company to sell products to customers using online technology, to work with suppliers and supply chain. However, because becoming an on-line seller is an easy process in the internet, this variable increases competition and competition among seller. An example of a successful on-line ordering system is being done by Wal-Mart stores that make shopping easy for busy people (Wal-Mart, n.d.) c. Competition An attractive market encourages competition to bring in the industry. Most