...Consumer Culture Theory, Consumer Agency and the Importance of Brands Summary of the Importance and Relevance of Topic Consumer Culture Theory (CCT) refers to the classification of a certain approach to studying consumers and the way that they consume. It was first coined in 2005 by Arnould and Thompson, and it specifically addresses the sociocultural, symbolic, experiential and ideological facets of consumption. Their work is the culmination of over a quarter century of research that treats consumer behaviour as a phenomenon worth studying. As we have come to develop the field of CCT, so too are we developing our understanding of the consumer, and the broader economy. The work of Arnould and Thompson has provided students of consumer behaviour with the necessary environment to debate, innovate and advance the field of study.1 CCT is important within the scope of consumer behaviour because it places a focus on meaning and identity creation; it delves deeper in the mentality that surrounds consumers in the marketplace, and an understanding of this mentality is useful to all that engage the market (buyers, sellers, producers, etc...). “CCT explores how consumers actively rework and transform symbolic meanings encodes in ads, brands, retail settings, or material goods to manifest their particular personal and social circumstances and lifestyle goals.”2 In understanding CCT, we understand the market in a broad sense, for example, acknowledging that marketing symbols are significant...
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...Summery 1 The importance of Brand awareness in consumer buying decision and perceived risk assessment Lecturer PhD Ovidiu I. MOISESCU Babeş-Bolyai University of Cluj-Napoca Brand awareness, as one of the fundamental dimensions of brand equity, is often considered to affect the decision of the consumer when selecting a brand name. And also can affect the consumers perceived risk assessment and their confidence in the purchase decision, due to familiarity with the brand and its characteristics. On the other hand, the importance of aided brand awareness when assessing the perceived risk associated with the purchase. http://www.mnmk.ro/documents/2009/10_Moisescu_FFF.pdf Summery 2 Importance of Brand Awareness and Brand Loyalty in assessing Purchase Intentions of Consumer Prof. Dr. Muhammad Ehsan Malik Muhammad Mudasar Ghafoor Hafiz Kashif Iqbal Usman Riaz, Noor ul Hassan, Muhammad Mustafa & Saleh Shahbaz In recent times consumers choose their favorable and familiar brands due to the rise in their consciousness. Consequently the businesses in order to compete with others must create love for their brands in the minds of consumers. If an organization has a successful brand awareness it means that the products and services of the organization have a good repute in the market...
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...The Relative Importance of Website Design Quality and Service Quality in Determining Consumers’ Online Repurchase Behavior Tao Zhou, Yaobin Lu and Bin Wang 2010, Information Systems Management 2012 The Relative Importance of Website Design Quality and Service Quality in Determining Consumers’ Online Repurchase Behavior Tao Zhou, Yaobin Lu and Bin Wang 2010, Information Systems Management 2012 Analysis of “The Relative Importance of Website Design Quality and Service Quality in Determining Consumers’ Online Repurchase Behavior” Buying products and services on the Internet has become more popular worldwide. According to Zhou, Lu and Wang, (2009), over 298 million people use the Internet with 24.8 percent of these people making online purchases (p. 327). Website design quality and service quality are both important, but how do these affect consumer behavior? Website design definitely affects the first purchase of an item as customers as they eagerly decide to buy or decide not to buy, but what factors determine whether customers continue to buy? Website design quality is important because attracts customers to keep coming back to the website whether it is a simple thank you to keeping track of customer orders that have become complicated. Website design quality attracts customers to the website while service quality makes a difference by taking care of the service needs of the customer. Zhou, Lu, and Wang (2009) hypothesis that “compared with website design quality, service...
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...The concept of perceived value of a product is the difference between the potential customer's assessment of all the benefits and all the costs of an offering compared to the perceived alternatives. Value is the function of consumer’s evaluation thus it is subjective where the cost and benefit must be positive values. We can express as the following equation: Value = Benefits / Cost The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. Instead, they simply have an internal feeling for how much certain products are worth to them. Thus, in order to obtain a higher price for their products, producers may pursue marketing strategies to create a higher perceived value for their products. For an example of a reputed brand Boost; customer may think it comes up with energy for the professional cricket player with commercials Sachin Tendulkar is doing impossible. Let's take an example of famous brand Adidas. It has come up with special category of shoes named Air Jordan for the professional NBA players with advertisement Michael Jordan doing extraordinary performance. On the other hand Air Jordan announces a limited edition with customized amount available for which Adidas charges more price compare to other products. At the end all the publicity about the line of Air Jordan and its limited edition are customer perceived value....
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...ISSN 0378-5254 Journal of Family Ecology and Consumer Sciences, Vol 31, 2003 The importance of apparel product attributes for female buyers Ernest J North, Retha B de Vos and T Kotzé OPSOMMING Die doel van hierdie artikel is om die bevindinge van ‘n empiriese ondersoek te rapporteer wat uitgevoer is om vroulike verbruikers se aankoopbesluite vir ‘n kledingstuk te ontleed wat gebaseer is op die waarde wat hulle aan sekere eienskappe van die produk heg. Alhoewel menige studies in die verlede verbruikers se houdings jeens produkte en hul eienskappe gemeet het, is die moontlikheid van die effek van interaksie tussen die attribute oorgesien. In die Suid-Afrikaanse konteks het die literatuurstudie getoon dat daar ‘n behoefte is aan ‘n studie om te bepaal wat die waarde is wat vroulike verbruikers aan sekere produkeienskappe heg voordat aankoopbesluite gefinaliseer word. ‘n Vraelysopname is as primêre data-insamelingsmetode gebruik waartydens die respondente versoek is om aan te toon wat hul voorkeure is vir dertig gepaarde kombinasies van die produk en sy eienskappe. Hierdie studie het op vier eienskappe, naamlik handelsmerk, styl, kleinhandelaar en prys gefokus. Hipoteses is geformuleer en voorkeurkeuse-ontleding (“conjoint analysis”) is vir die ontleding van data gebruik. Die bevindinge toon aan dat daar beduidende verskille is in die waardes wat vroulike verbruikers heg aan die eienskappe van ‘n kledingstuk voordat aankoopbesluite geneem word. INTRODUCTION Although the apparel...
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...MBA II CONSUMER BUYING BEHAVIOUR TRENDS OF MALE GROOMING PRODUCTS CONSUMER BEHAVIOUR PROJECT BY SOURADEEP ACHARJEE – 14202041 AMRAPALI DUTTA – 14202127 PAHELEE KARAK – 14202163 MOUMITA SAMANTA – 14202230 SANCHARI SAHOO - 14202244 1 DECLARATION We hereby declare, the project report “CONSUMER BUYING BEHAVIOUR TRENDS OF MALE GROOMING PRODUCTS" is our own work, to the best of our knowledge. It contains no material which has been accepted for the award of any other degree of any other institute. This project has been submitted to KIIT School of Management in partial fulfilment of the two year MBA course under the guidance of Prof. Arvind Tripathy, Professor, KIIT School of Management, Bhubaneswar. Souradeep Acharjee Amrapali Dutta Pahelee Karak Moumita Samanta Sanchari Sahoo Date : 14 September 2015 Location : Bhubaneswar 2 ACKNOWLEDGEMENT We would like to sincerely acknowledge the contribution of all those people who have, directly or indirectly, been instrumental in helping us complete this project. We take this opportunity to thank them and all our well-wishers for their relentless encouragement and wholehearted support. We would like to extend our gratitude to our faculty guide, PROF. Arvind Tripathy, KSOM, Bhubaneswar for his constant cooperation and help at every step. . 3 CONTENTS TOPICS PAGE NO. Decalaration 2 Acknowledgement 3 Executive Summary 6 Introduction ...
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...Chandigarh-160014, India Tel: 91- 94173- 07276 Abstract E-mail: ubschd@yahoo.co.in The prime objective of the study was to understand the variation in the importance given by different age and gender groups to the select factors while buying mobile handsets in India. The study concludes that the mobile handset users of age group of 18-30 years are less price sensitive than consumers of other groups; rather they consider ‘physical appearance’, ‘brand’, ‘value added features’, and ‘core technical features’ more important than users of any other age groups. On the contrary, the consumers of age group 50 years and above have given greater importance to ‘price’ than consumers of other age groups. There were significant differences between different age groups as regards to the importance given to all the factors except ‘post - purchase services’. The difference was highest for the ‘brand’ closely followed by ‘core technical features’ of the handset. Gender differences have also existed for these factors. Keywords: Buying behavior, Mobile handsets, Age groups, Gender groups, Factors, GSM 1. Introduction India is the world’s 12th largest consumer market. It is projected that by 2025, it will be ahead of Germany and will become the fifth largest economy of the world. There is an explosive growth in almost all the areas of consumer goods and services. Communication that accounts for 2 percent of consumer’s spending today will be one of the fastest expanding categories with...
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...establish a personal brand identity. Immelt- General Electric ninth CEO- has to decide on the direction of General Electric within the coming years. Immelt who has officially held the position of General Electric’s CEO few days before September 11, 2001 has been faced with a lot of challenges since day one. These challenges are mainly a struggling economy, rising fuel costs and global warming. The main issue at the current time is what other extensions or modifications to General Electric’s brand strategy could be done in order to maintain its position within the global market. Class discussion can revolve around the following questions that students should consider before class: 1. Discuss the importance of B2B marketing and a strong B2B brand. How does it differ from consumer marketing? 2. Did Jeff Immelt and Beth Comstock do the right thing by dropping “We Bring Good Things to Life” for “Imagination at Work”? Why or why not? 3. Has “Imagination at Work”, “Ecomagination”, and “Healthcare Re-Imagined” changed GE’s brand? If so, how? Is it a good change or not? 4. Can Immelt transform GE’s approach of innovation (risky, unknown areas like fuel cells, solar energy, hydrogen storage, and nanotechnology) versus past strategies of improvements of current technologies? 5. What should Henson do next for GE’s brand strategy? Teaching Strategy This case can generate and support discussion on a number of topics, e.g., B2B marketing, Building a corporate brand...
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...The company mission is to offer each customer a delightful and pleasing shopping outing. The staff is helpful and knowledgeable and will go to extensive lengths to ensure that Kudler Fine Foods is the purveyor of choice for customers aspiring to purchase the finest delights. Kudler Fine Foods shops around the world to offer fines foods with reasonable budgets for consumers. Kudler Fine Foods will continue to be successful by understanding the importance of market research, identifying areas where additional market research is needed, and analyzing the importance of competitive intelligence and analysis regarding the development of the company’s marketing strategy and tactics. Importance of Marketing Research The importance of marketing research is a process to define a marketing problem and opportunity to resolve the issue. Marketing research systematically collects and analyzes data, and recommends actions to the organization. The purpose for marketers is to help the organization to reduce the company’s risk, discovering consumers taste, set the price for products and make reasonable estimates about what consumers want and will buy. Kerin (2011), discusses a five-step marketing research approach consisting of defining the problem, developing the research plan, collecting relevant information, developing findings, and taking marketing actions. Five-Step...
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...MCM -116 : Marketing Management Session – 4 MARKETING QUOTE “The problem is that once a consumer has bought someone else’s story and believes that lie, persuading the consumer to switch is the same as persuading him to admit he was wrong. And people hate admitting that they’re wrong.” …Seth Godin: on consumer behaviour in marketing TOPICS • Human Motivation • Consumer Buying Behaviour • Consumer Buying Roles • Consumer Buying Process • Types of Buying Behaviour MOTIVES A need becomes a motive when it is aroused to a sufficient level of intensity to drive us to act. Motivation has both, direction and intensity. Direction means selecting one goal over another, intensity is the vigor with which we pursue that goal. Human Motivation Motivation can be defined as "psychological forces that determine the direction of a person's behaviour, a person's level of effort, and a person's level of persistence." Other authors define motivation as "processes that account for an individual's intensity, direction, and persistence of efforts towards attaining a goal". For consumer analysis and designing marketing strategies, three basic motivation theories are of interest to marketers: • MASLOW’s THEORY • HERZBERG’s THEORY • FREUD’s THEORY In 1943, Abraham Maslow, an American Psychologist and Professor stated that:• Human needs are arranged in a hierarchy from most to least important. • People will try to satisfy their most important needs first. • Till a lower need is satisfied a person will not...
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...before starting new business. If any organization does not meet the requirement or fails to fulfill the essentials of business law than, it becomes difficult for them to proceed in a successful manner (Aurther, 2013). The proper knowledge of business law would help the business to properly operate the business operations without having hindrance of ignorance. In this present report, there is discussion about the importance of business law and focus has been given on branches of businesses (Reed, 2008). Concept of Business Law In broad sense, business law is considered as a law, which regulates all the business activities, or which apply to business entities, for instance, partnership and corporations. It can be also understand as a set of rules for the business organizations whose violation is subject to various penalties or punishments (Lasprogata and Cotton, 2006). Importance of Business Law There is huge importance of business law in establishing business or to run business successfully. There is discussion about some important laws and accordance with its importance in business entity or in business organizations. Some of them are discuss below: Business structure law: It is observed that there are different laws for different businesses. In other words, Information technology based company contains different laws and regulations and banking sector involves different laws, pharmaceutical industry contains the law regarding to their business. So, it is not essential that...
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...the preferred features that consumers would consider in buying a certain bottled water brand? | | Maisha Chowdhury | 7/21/2014 | | 1 Introduction Consumers often buy bottled water, but what exactly are they thinking when they pick one brand over the other? We aim to conduct a study, with the aid of a questionnaire in order to find out these preferred features in a bottle of water. We will be doing this on behalf of Aqua. We have conducted a survey, by passing around a questionnaire in order to help answer our question. Following are our Research question, research objectives, research plan, implementation and interpretations of our findings as well as our conclusion and recommendations. 1.1 Problem definition and Development of research objectives On behalf of Aqua we would like to find out what are the preferred features that consumers would consider when buying bottled water. We would like to help Aqua find out what is liked by consumers so that the company can continue to improve upon their product and give the customers a better version of the product. Research Question: What are the preferred features that consumers would consider in buying a certain bottled water brand? The main objective in trying to find the preferred features that consumer would consider in buying a certain bottled water brand, is to recommend water company to focus and improve the features of their water bottle, that are preferred by most consumers, in order to increase sales....
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...A fundamental understanding of consumer behaviour underpins all marketing activity and is a necessary prerequisite to organizations being marketing orientated and thus profitable. Understanding consumer behaviour is not only important for the producer but for all the other actors in the value chain. The value that the consumer puts on the goods or services limits what everyone else can get from the value chain. Engel’s four-step model can be used as a basic model for analysing a consumer purchase. Most purchases are made to satisfy a problem. Analysis of problem recognition can be done through the ‘means-end’ chain concept. This looks at what motivates a consumer to buy products. The search for information can be either internal or external, the latter can also be either active or passive. Consumers usually have a number of alternative solutions to choose from and, depending upon the complexity of the purchase, will either be multi-attribute decision-making or based on decision heuristics. Outcomes tend to depend upon the degree to which performance meets expectations which in turn can be influenced by a number of factors within and outside the marketer’s control. Although the model is useful, two other factors that need to be taken into account are involvement and habit formation. Involvement refers to the subjective importance of the purchase and is a function of financial and functional importance, perceived risk, emotional value and sign value. Alternatively...
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...The Importance Of Marketing In Your Business By Carael Knight Ads by Google Small order business www.hktdc.com Meet quality suppliers in Hong Kong Int'l Lighting Fair 2012. 6-9 Apr Create More Value www.thepartnershipmodel.com Develop stronger relationships with your customers and suppliers What do customers want? ey.com/global-insurance-survey-2012 How insurers can meet evolving customer needs. The true definition of marketing is setting up automatic, repeatable systems that create an environment where people want to buy from you instead of you having to sell them. Just as a bee is lured to the nectar of a flower, business people are lured to money. Entrepreneurs are the honeybees of our economy. Ultimately the goal of an entrepreneur is to extend the life of his or her enterprise for a lifetime. As a business owner, your ultimate product is a satisfied customer. Some facts about the Internet and search engines: Over 80 percent of Internet users use search engines to find information A typical search can often generate thousands if not millions of results Only those websites listed in the top 100 will ever see any significant traffic Each day, millions of online businesses are competing for those top 100 spots The best marketing advice I can give you is find the right audience, ask people what they what, and after that, simply give it to them. Marketing is the science behind encouraging interested people to buy. The success of any business basically comes down to...
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...Group 5 Table of Contents 1. Consumer Analysis 1.1 Consumer Insights 1.2 Inferences 2. Company Analysis 3. Competitor Analysis 4. Channel 5. Context References Marketing Management Report Deliverable 2 3 3 7 9 11 12 13 15 Category : Smartphones Market: India Submitted By Ganesh R Preethi Venkataraman Sarat Bose Rajendra Mohan Talele Mahavir Prasad Kumawat S. Madhuvanthi Table of Contents Content 1. Consumer Analysis 1.1 Consumer Insights 1.2 Inferences 2. Company Analysis 3. Competitor Analysis 4. Channel 5. Context 6. References 7. Annexure Page No. 3 3 7 9 11 13 14 15 16 I. Consumer Analysis A sample of 8 consumers was taken for an exploratory research, the objective of which was to identify needs, desired attributes, relative importance of attributes and how different competitors are rated on the attributes. The consumers were chosen in the following manner: • 4 existing smart phone users (1 Nokia, 1 Samsung, 2 Micromax) • 1 intending buyer of smart phone • 3 switchers – 2 from Nokia to Samsung; 1 from HTC to Nokia 1.1 Consumer Insights Consumers, belonging to the age group of 21 – 25 years, who were students from an urban background, were chosen. The following details the research done amongst this sample population. Consumer 1 (Existing Samsung User) Age 21 years Student Occupation Urban User Category Samsung Galaxy S Current Model of Phone Nokia Xpress (Feature Phone) Switched from? Touch Screen, Android, Applications, Need Processor Touch Screen, Android...
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