The impact of social media
Discuss abut the Gasoline Taxes and Consumer Behavior.
Consumption is an integral part in any business. There are various factors that affect consumer behavior. Consumers can be broadly classified as the actions and decisions that influence the behavior of a purchasing consumer. Marketers help to analyze what drives consumers to choose a particular product with respect to others. Most of the processes of selection is highly based on reasoning and emotions. (Armstrong, Kotler, and Brennan, 2015).
Companies use the customer’s preferences to make marketing strategies and among the factors that influence the customer’s behavior is economic conditions, personal preferences, purchasing power, group influence and marketing campaigns.
Have you ever wondered what elements influence the moment a person makes a purchase? If you want more people to buy your products or services, then, first of all, you need to fully understand the way in which consumers make their purchasing decisions (Baker, 2014).Making the right decision is a priority. For this reason, when consumers are about to purchase a product or service, they tend to inquire into different channels, in order to make the best decision. The most common methods for gathering information about a product or service tend to be the following:
With countless brands competing for the attention of consumers, quality has become the most influential factor in the purchasing decision process. Following this, the second most important factor, to determine the final decision of a consumer, is that the product or service in question has a competitive price (Cantallops, and Salvi, 2014). Finally, the reputation of the seller or brand is positioned as the third of these fundamental factors.
Undoubtedly, social platforms have become a vital resource of social proof for consumers. In these, users share from videos, images and product reviews to their opinions about them.
For this reason, social networks have become a key factor influencing consumers’ purchasing decisions. Then, you are ready some statistics of the average partner with respect to the users:
More than 80% are influenced directly by their friends.
More than 30% respond to offers published by a brand if they are shared on social networks.
Almost 40% interact with the visual content of a brand through social platforms.
Today, globalization accelerates the movement of people, goods, ideas and services, violating social and geographical boundaries. The evolution of technology is the creation of a new economy, where the old laws are not applied, forcing everyone to change the way we behave as consumers. The formation of a new era in terms of the size, speed and direction of the flow, the economic shift of wealth today is in progress, is unprecedented in modern history. This change, I think we saw it coming, but it was quite a shock when it came and in your vacuum there are more surprises that continuity and the target audience is the whole population around the world. At present, influence is identified with the name of the crisis (Chaffey, and Ellis-Chadwick, 2016.). Thus, more and more people want to have a minimum of improvement in living and consumption conditions. All this in orbit about the drive of consumer behavior, this interference is our attention. We present the research What are the factors that influence the behavior of consumers by adopting the method of bibliographic research, selecting authors, with theories in the segment, the most relevant and relevant references in the world today. The study of each of the factors, cultural, social, psychological and personal, we can give us to understand what affects and moves, consumer behavior.
How individual influences impact on the consumer purchase decision process
In a detailed analysis of the behavior of individual consumers, you can orient the best strategies for launching a product, add services, innovation, stand, get markets or the best form of attack in disclosing a product or service, so with it, regardless of the relationship, gives meaning to the work of specialists marketing, showing the exchange between the company and customers in order to meet the needs of both.To survive, we need to innovate and innovate, you need to know the consumer. Thus, companies should gain their competitiveness from studying consumer behavior to continue existing ones. (Champniss, and Dimitriu, 2017).
The decision-making process of the organizational buyer is generally the same as the decision-making process for purchasing by a large consumer. The difference may be that in some cases, the organizational buyer has to overcome several more stages. When making an ordinary purchase, he misses some stages or changes their sequence.
Useful in developing a marketing strategy can be an understanding of the process of consumer search. How many consumers search, and with what specific sources consult at the same time – this information is necessary in the development of a pricing strategy, promotion and distribution. As for the sources of information that consumers use, the market operator must carefully identify them, and then determine their comparative information value. It is necessary to find out how consumers first learned about the product, what other information is available, what importance is attached to each of the sources used, etc. In a practical sense, the firm should develop such a marketing mix that its product is known to the consumer and included in the number of options considered.
It is also necessary to understand the decision rules applied by the buyer at the stage of pre-purchase evaluation of options, as their result is the choice of the consumer. This understanding shows what actions should be avoided in order not to change the rules of a positive decision, helps to preserve and facilitate the further application of this rule by the consumer, makes it possible, if necessary, to change the rules, while influencing the final result. Important here can be a way to organize and present information about the characteristics of the product, its key properties, the degree of their relative importance, etc (Claiborne, and Sirgy, 2015).
As already noted, not always the preference or even the intention of buying leads to the actual acquisition of the goods. The implementation of the intention can be strongly influenced by the factors of the situation, which for the most part are not amenable to the influence of market actors. The decision of the consumer to change, postpone, or reject the purchase options may also depend on the perceived.
In this case, the factors that cause a sense of risk must be taken into account in advance. So, providing the buyer with the necessary information, it is possible to reduce the impact of perceived risk associated with the uncertainty of alternatives and the consequences of the choice. However, the problem of consumer preservation becomes decisive in the marketing strategy. To this end, various tools such as database marketing, personal selling, demand stimulation, emphasis on additional services, etc. can be used for this. Thus, understanding the needs of the organizational consumer and the process of organizational procurement can be the basis for successful industry marketing (Zhao, and Zhu, 2014).
Why marketing research is required and how their results can help business marketing research is one of the indispensable tools for estimating the supply-demand ratio. More … Based on marketing research, the company can make management decisions that can increase profits and reduce the risks of possible losses. Carrying out a marketing research can be recommended: for making key marketing decisions; to assess the effectiveness of the activity; to solve problems. More about the research … The object of marketing research can be: goods; the market as a whole; consumers, partners, competitors; advertising. Order marketing research … For marketing research it is better to use the services of a third-party organization to exclude personal interest and subjectivity of specialists. Where to order a study? A well-considered marketing strategy of the company is the opportunity to improve the quality of sales and to prevent possible risks.
As a result of the research, the incorrect layout of the goods and violation of the price policy were revealed. With the help of the collected information, the research client was able to organize the control of the distributors. As a result of the research, it becomes possible to determine effective ways of conducting competition and ways to enter new markets, and also to carry out segmentation-the selection of market niches and target markets for a particular company (Hunt, 2018). Consumer research is a key type of research that allows us to determine the full range of factors that consumers are guided by when choosing a product. Individuals, families, households (B2C) and organizations (B2B) can serve as research objects. In the course of the study, the motivation of consumer behavior, supply of goods, processes and conditions for satisfying consumer requests are analyzed. The purpose of the consumer market research is the segmentation of consumers, the possibility of forming an offer for each segment that satisfies the consumer as much as possible, which in the end can not but affect the growth in sales.
Also, the sales structure of the products was changed: two separate units were created to work with different segments of customers – dealers and end users. Study of the goods. In the course of the study, the conformity of goods available in the market to the needs and requirements of consumers is determined, and competitiveness is assessed. Study of the goods allows you to get the most valuable information from the customer’s point of view about the consumer properties of the goods and the data to form a successful advertising campaign (Juster, 2015). As a result of the research, the company gets the opportunity to develop its own assortment of goods or services in accordance with the requirements of customers, increase their competitiveness, identify the main lines of activity. Advertising research includes preliminary testing, comparison of actual results with expected ones, evaluation of exposure duration. The results of the research make it possible to make decisions on the activation of the advertising campaign, to search for new means of influencing the buyer. All methods of marketing research can be divided into qualitative and quantitative. Quantitative, or statistical, methods are used to study the habits of consumers, their relationship to the product, the image of the company, the reaction to advertising. Information in this case is expressed quantitatively, it is received for a limited number of questions, but from a large number of respondents. The survey is used to obtain reliable data based on a statistical sample that determines the composition of the respondents (Hunt, 2018). Polls can be in the form of interviews, questionnaires, or conducted in a telephone or online format in several stages: the creation of a research hypothesis – a questionnaire; creation of a sample – the base of respondents; interviewing – personal interviews, telephone interviews, postal surveys; data processing – obtaining, using statistical procedures, the percentage characteristics of different consumer groups and determining the main factors affecting their behavior; writing a report. Qualitative methods involve obtaining information from a small group of people on a wide range of issues. Such information cannot be measured or analyzed quantitatively, but it allows deeper penetration into the motives of consumer behavior (Xiang,and Fesenmaier, 2015). Qualitative methods are used in the formation of marketing concepts, testing of goods or services, before quantitative research to create hypotheses, which then need to be checked “in the field”. The main types of qualitative research are: Focus groups – a technique in which people’s points of view are identified through a group discussion conducted by a moderator in a pre-prepared scenario. Usually 6-10 people take part in such a discussion, it lasts one and a half to two hours. In-depth interview, conducted one-on-one with the interviewee for one and a half to two hours. The interviewer conducts a survey on a pre-compiled manual. But this interview is quite free. Expert assessments (Delphi method, brainstorming, devil’s advocate, etc.) make it possible to get information about possible ways of market development relatively quickly, to reveal the weak and strong sides of the company. On the basis of qualitative research reports are also compiled with a complex analysis of the results obtained and with recommendations (Justin, 2015). The report can be presented in various formats, from brief to detailed, depending on the objectives of the study and the prospects for its further use. How much is the service The cost of marketing research is determined by a number of factors. First of all, these are the objectives of the study, its scope and methods.
Sale will never take place if the buyer does not decide to make a purchase. Therefore, it is necessary to create favorable conditions for making a purchasing decision. For example, if someone sells goods for the office, he will not succeed if the buyers do not place orders for his goods. Unfortunately, too often trainings, useful in other ways, neglect the study of the buyer and his behavior.
Importance of the interaction between the buying and selling processes
It must be remembered that the interaction of the processes of buying and selling is a self-replicating process in which the needs of one (the buyer) become the goal of the other (the seller). Of course, there is also a reverse direction of the process: buyers who want to purchase the right product often depend very much on the competence of the sellers, and sometimes it is necessary to fine-tune the goods. For example, the automotive industry is highly dependent on innovation and product improvement in the industries that supply electronics(Li, Linn, and Muehlegger, 2014).Many small companies, lower in business level, often develop special products for large companies. This is part of the process by which companies expand, and products are more widely distributed.
7Ps Marketing mix
These Ps helps the company to define and review the issues that affect services and products in marketing and helps to create frameworks in digital marketing mix
Products/ Services
It tries to answer the question how to develop products and services in marketing when targeting a specific clientele.
Prices
This is how to change the model of pricing and how to ensure that the prices are acceptable to the market and cover the cost of production plus the margin
Place and access
This are the distribution options for products either in mobile stores, digital and online platforms and physical stores.
Promotion
It answers the question of how to substitute with owned and paid channels of the media.
Physical evidence
This is how to reassure customers , example is through impressive buildings , a great online presence and well trained staff.
People
Answers the question who are the people targeted and where are the gaps in the skills
Partners
Are there any chance to have new partners and are the existing partners being managed well?
Any marketing inspires the demand of consumers. The impact of consumer demand or its shortcoming was too obvious in the 1970s, 1980s and 1990s, when rising unemployment “killed” or “knelt down” many firms.
The shopping process involves the consumer making decisions hundreds of times a year. When shopping for a home, you need to make a choice from many different brands and variations of similar products. The choice is often made arbitrarily, and when purchasing most branded goods, the perceived advertising image of the product exerts a major influence on it. Consumers during the daily shopping should make many decisions, so it is not surprising that they cannot give enough time to evaluate each of them.
Numbers do not measure these values. This is best seen from people’s attitude toward politics. Some may think that the National Health Service is a vital component of taking care of the nation, while the other can be convinced that firms that have free money should also do so. These relationships are formed as a result of life experience, as well as under the influence of education, society and culture. This is also true for the relationship of a person to a commodity – what one seems to be important, for another the banality.
In modern society, status and wealth are often measured by the material property of a person. This can have a major impact on the purchases of some people. Others have a statement that his neighbors, colleagues and others have some kind of product, can trigger a backlash. In many sales situations, it is necessary to determine the client’s value system and conduct small preliminary studies.- for retail or wholesale This level of purchases is particularly important, because retail distribution networks sell a huge amount of consumer goods. In recent years, wholesale trade has changed. This is mainly due to the “washing away” of the borders between the wholesale and retail sale of many goods, for example, electrical goods, the assortment of DIY stores, furniture and food products in connection with the development of suburban shops, supermarkets and stores selling at reduced prices.
A significant change , associated with the increase in the size of retail outlets, was the development of “purchasing committees”. This is a group of buyers who consist of specialists in different goods, gathering together once a week in order to analyze and discuss what goods should be purchased for the store. However, in many cases, the committee discusses only pre-screened goods, during which most of them were rejected. The importance of procurement committees lies in the professionalism that they make in the process of retail purchases. Manufacturers offering their products to such organizations can no longer rely solely on sales experience (Priluck, 2017). They must back up their offers with facts and technical information, and develop companion advertising and promotion campaigns. Purchases – purchase of industrial goods As already emphasized, the purchase of manufactured goods is a complex process involving different people from different professions, including engineers, designers, managers of enterprises and buyers. This is sometimes called “selling down the line,” meaning that many people who occupy different positions in the organization participate in the sale. The purchase of manufactured goods is a very professional business that relies heavily on special reserves; while often using tests, testing and finalizing the product in cooperation with the manufacturer. This may include: Assistance in solving problems. Cost and price analysis. Help in solving problems is the interaction between the buyer and the seller, in which the technologies of the two companies are combined to solve the problems of the buyer company. The cost analysis and prices help the buyer to make difficult purchasing decisions, for example when installing new equipment or starting a new production. If a company is going to spend thousands of pounds sterling on new equipment, it should be sure that it fully understands all the costs and benefits. In this case, sales personnel, sales managers, designers and development engineers, along with the client, can work for weeks or months to ensure that the most accurate equipment evaluation is performed (Schmidt, Spann,and Zeithammer, 2014.). This is especially true for electronics, where the installation and integration of computerized systems is not only expensive, but also potentially risky. This is especially true for electronics, where the installation and integration of computerized systems is not only expensive, but also potentially risky, as far as the whole production process or important information is concerned. Supply – ensuring government supplies Government – large buyers of a variety of goods, from goods for schools and hospitals to military equipment. These purchases involve not only the central government, but also local authorities, as well as many other government departments. Very often, supplies for the state are based on strict specifications, and a decision on the supplier is made through a competitive tender (Zeugner-Roth, Žabkar, and Diamantopoulos, 2015). From this it follows that the organization should monitor its business areas of interest to know when to hold tenders, and to be sure that its products meet the requirements of the government. Of course, so do not get all the goods. Often, the supply resembles the purchase of industrial goods, when the emphasis is placed on the benefits of the goods. Given the current state of the economy, the emphasis on cost savings and government spending cuts, ideally, any commodity should enable government departments to realize that they are saving. Sources of supplies selecting a reliable and effective
A source of supply is one of the key decisions in the procurement of industrial goods. It is necessary: ??a) Make sure that the materials of the required quality are purchased at an affordable price, and the delivery is reliable. This is important for: production, maintenance and maintenance, management purposes, for example for the office. B) The choice of source of supply involves close cooperation with suppliers developing materials and components in the early stages of development. The importance of this is increasing. Sales management and sales personnel should understand that the true purpose of marketing industrial products is to influence the buyer’s decision to ensure the advantage of his company’s products over competitors’ products (Tomczak, and Kuss, 2018). To do this, it is necessary:
Conclusion
The last point is important, because it is the basis for successful inclusion of goods in supply and effective negotiations. Competent selection of suppliers is the most important duty that takes precedence over others when purchasing for an organization. This relationship between the buyer and the seller can be represented in the form of a simple model:
References
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