Question

Provide an introduction on the topic of consumer behavior. Select a purchase that you recently made and reflect on the purchase decision process. Explain in detail how each step in this process affected your purchase decision. Describe how each of the 4Ps (product, price, promotion, and distribution) affected your purchase decision. Technology is a tool that companies use to influence consumers. Discuss the impact of the internet at every step of the purchasing decision process. The letter concludes by explaining the ethical implications that marketing management must consider with respect to the use and handling of the company's customer data.

Answer 1

Introduction:

Consumer behaviour is the term usually refers to the behaviour or actions of a person or any organisation who select, buy, consumes and dispose ideas ,goods and services in order to satisfy their needs and wants.It involves psychology, motivations and behaviour.It is more important for marketers to study consumer behaviour as they can understand the expectation of consumers. It also helps them to know what do customers buy,for what, when and how do they buy etc. Understanding consumer behaviour is essential for a company to find success for it's current product as well as new product launches.

I recently purchased a product of skin moisturiser. I made a decision to purchase it after cosidering several factors such as the need for consumption, amount that I needed to fulfil my need, location whether I can go for it and quantity of product I require in order to satisfy my needs etc My purchase decision/selection process includes checking for certification mark from recognised labs,quality ingredients used in it, quantity as well as price comparison with other brands, reviews of other customers on internet sites, offer facilities they provide on buying large extent etc

Considering above factors made me not only get good product but also at cheaper rate.As I checked for it's quality ingredients and certification mark it helped me in getting a product that worked well on my skin and doesn't cause any harm to me. Reviews of other customers helped me chose a good product.

4Ps affected my purchase decisions in a following way:

Product-The product I brought have good packaging, easy to use feature, tested organic ingredients which made me buy the product and also the texture of the product and results after using made me decide to go for it again.

Price-The price for which I got the product under discount is less compared to other brands and this made me extremely happy.

Promotion-The advertisement shown on TV enabling different benefits of the product made me go for it.

Place-The availability of the such great and branded product in my hometown made me buy the product with an easy and complicated free process.

Impact of internet in purchase decision process:

Nowadays internet provides the customer with everything that he/she wants to know about the product like what the product is about, how to use the product, where and when to be purchased,packaging and price of the product, various qualities of product, various shopping sites to buy the product etc. Not only that it also helps consumers to know about the ratings and reviews of customers who already consumed or consuming the product. So that one may benefit the knowledge about the product before going for it's purchase. It also helps customers to buy and pay for product effortlessly by ordering in various shopping sites using online payments. Even promorotional advertisements shown on internet through various social media sites create lot of impact on the minds of customers.

ethical implications that marketing management must consider with respect to the use and handling of the company's customer data:

Ethical considerations in marketing while using customer data relates to and value judgements across the spectrum of marketing decisions i.e, with respect to product, price, promotion, place and other strategy decisions. An ethical decision is one which is both legal and meets the shared ethical standards of the community.

While handling customer data invasion of privacy into customer details should not be done. Unsoliciting contacting should be avoided. While advertising to customers false brand comparisons should be avoided. Consumer should be treated fairly while collecting data. Ethical decisions and efforts should meet the needs of customers, suppliers and business partners. Unethical behaviour such as price wars,price discrimination, bait and switch tactics, predatoary pricing, copying brand packaging, Exclusive dealing agreements, tying agreements, selective advertising, deceptive and surrogate advertising can negatively impact on company's relationship.