Free Sample: Marketing research paper example for writing essay

Marketing research - Essay Example

The stages of the buying -decision recess are: Needs recognition: the consumer Is moved to action by a need. Identification of alternatives: the consumer Identifies alternative products and brands and collects information about them. Product and brand Identification may come from a simple memory scan of previous experiences to an extensive external search. Evaluation of alternatives: the consumer weighs the advantage and disadvantage of alternatives identified. The evaluation may involve a single criterion, or several criteria, and then compare each alternative.

For example, you might select a frozen dinner on price lone or on price, taste, and ease of preparation. Purchase and related Decision: the consumer decides to buy or not to buy and makes other decision related to the purchase. If the decision is to buy, a series of related decisions will be made, such as where and when to make transaction, how to order or take delivery, the method of payment and other issues. Post-purchase behavior: the consumer seeks reassurance that the choice make was the correct one. What a consumer learns from going through the buying process has an influence on his next time purchase.

After e Identify the customer buying-decision process, we should know there are some factors, and situational factors. 2. Information And Purchase Decisions Purchase decisions require information. Customers should know what products and brands are available, what features and benefits they offer, who sells the products at what prices and where they can be purchased. Miller et al (2000) argue that there are three sources of buying information – personal sources, commercial sources, and public sources. Personal sources: include family members, friends, and members of consumer’s reference group.

Commercial sources: refer to the information provided by service providers, marketers, and manufacturers and their dealers. It bears noting that Advertising is the most familiar type of commercial information. Public sources: include non -commercial and professional organizations and individuals that provide advice for consumers, such as doctors, lawyers, government agencies, travel agencies. The Consumer Buying -Decision Process And The Factors That Influence It. It should be mentioned that advanced technology provides the opportunity to reduce the costs of searching for information.

This makes it easier for customers to make informed decisions. Social and group forces influence the customer buying -decision process The social influences affecting consumers’ purchase decisions include culture, subculture, social class, reference groups, and family. Culture is the set of beliefs, attitudes, and behavior patterns shared by members of a society and transmitted from one generation to the next. Cultures do change over time. Marketing managers must be alert this changes so that they can adjust their planning to follow it. For example, in some cases, time has become as valuable as money.

Australian consumers increasingly require time – saving services (such as fast food) and labor – saving products (such as frozen dinners). Reference groups: includes a variety of groups that affect consumer behaviors through normative compliance. It should be mentioned that the family is a reference group. Social class: is a ranking within a society determined by the members of the society. Miller et al (2000) argue that people’s buying behavior is often strongly influenced by the class they belong to. Such as the upper class, they usually like to buy expensive goods and services.

Psychological forces impact on the customer buying -decision process. Motivation, perception, and attitudes all affect the customer buying -decision process. Motivation: Mascots hierarchy of needs is a popular theory on understanding human motivation theory. With a greater understanding of motives, marketers are better prepared to design attractive value propositions. Perception: is the process by which a person selects, organizes, and interprets information. A consumer’s personality -encompassing their particular needs, attitudes, belief, and past influences buying decisions.

The features f the message and the way it is communicated also influence consumers’ perception. Attitude: is a positive and negative feeling about an object. Attitudes are learned. They are formed as a result of direct experiences with a product or an idea, favorable or unfavorable toward objects. They can not be neutral. For example, you may mildly like something, or like it very much. This factor is important for marketer cause both strongly favorable and strongly unfavorable attitudes are difficult to change. Finally, attitudes tend to be stable and generalist. When people formed their attitude, it should endure.

The longer they are held, the more resistant to change they are. Situational factors. As Miller et al (2000) state that situational influences are a temporary force, associated with the immediate purchase environment, effecting behavior. Encompasses factors such as when consumers buy, where consumers buy, and how consumers buy. Readers will recall the below diagram illustrating various buying influences. They are also relevant here. Source: waiters (2002) Walters (2002) shows that: “purchasing activities are often required to overcome barriers and these may be practically based or influenced, or be psychological in heir nature.

For example, a value barrier is a product’s lack of performance relative to price when compared with substitute products. Easel (1995) suggests manufacturers can overcome that value barrier in two ways. The first uses technology to reduce the price. The second is to communicate value attributes (to potential consumers) that they have not been made aware of or have not identified for themselves. Easel is suggesting the use of process technology to reduce costs and then price but product technology may have the effect of reducing in-use costs. This leads to the notion of usage barriers.

Usage barriers occur when a product or service is not compatible with consumers’ current practices. This may be due to system incompatibility such as computer systems being unable to ‘connect’ or it may be caused by user doubt concerning the efficacy, quality or security of the ‘innovation’. Problems concerning credit and security have inhibited Internet sales in consumer markets. Easel advocates the use of change agents as opinion leaders who use their credibility to convince potential users that their concerns are unnecessary. Risk adopting a social innovation’.

Free Sample: Marketing Research paper example for writing essay

Marketing Research - Essay Example

They also white sugar with pH per kilo and brown sugar for pH. Their corn starch sells at pH per kilo and ketchup at pH per kilo. Salt is sold for pH a kilo and oil for pH. Third class flour is sold for pH per kilo and pH for first class. The vinegar sells at per kilo. They also sell In smaller volumes of one fourth kilo and one half kilo. Their vetoes prices range from pH to pH depending on Its size. They sell some Nestle products Like Magic Scrap for pH and Nor Slang Sample for pH.

They also sell different sizes of shopping bags for pH to pH. They have small bags for Iced water as well. They rent two small stalls where they store, re-pack and display their products. They pay pH per day as their rental fee. The goods they sell are usually bought in large volumes. They need to re-pack these into smaller kilograms. The use durable transparent plastic cellophanes, making sure that they are re-packing in a clean environment. When bought, the packs are wrapped in newspaper and put in shopping bags for easy carrying.

If the good bought is a liquid, then they are put in containers. They do not have a logo nor is it printed because they only operate inside the public market therefore it is a small business. The store does not do much promotion because they only own a small business. Though during the Christmas season, they give out calendars specifically printed so the store’s name Is on It. Also to their patrons, they personally pick out and buy Christmas gifts. They also hand out t-shirts. If I were the store’s manager, I would recommend market research.

Their action does not seem to be very convenient for some customers. Also illegal sidewalk vendors, who are their competition, tend to be a problem. One, their place for business is quite small and there is not much walkway left between them and the fish market. As a result, their customers lack space especially when they have to stand in front of the stall to buy. Since the building they’re in is government-owned, they cannot do much about this. Instead, they can bring in and retain the consumers in other ways, focusing on quality service and quality products.

Marketing research would help delve into more ways and possibly a good and quick solution to this problem. Customers could be asked on how they can be alleviated of their burden during the purchasing process. For the Illegal sidewalk vendors, the local government can do something to lessen this problem. Most of their potential customers find It more convenient to buy from outside sellers. This is a problem for those who are robbed of possible additional profits. By doing a marketing research, we could focus on how we can get a competitive edge against these competitors.

Also, we would find ways to make it worth for the customers to come inside even with an ambiance that is not so good. We could find ways to attract and sustain buyers so that they would brace the heat and dirt inside the wet market for products that will surely satisfy them best. Other than these factors, there are internal factors to be researched as well. They should have a definite and consistent plan for promotion. Lacking any standards for giving out gifts during Christmas and only to a certain number of customers is quite dangerous for the business.