Q

Assignment focuses on the important aspect of the marketing strategy i.e Consumer behavior,culture, attitude, psychology

Home, - Consumer behavior and marketing psychology

Consumer behaviour makes up very important aspect of the marketing strategy. More specifically the typical aspects like consumer psychology, the consumer behaviour the consumer attitudes, group influences of the consumer, consumer culture, consumer social classes, consumer learning processes,  personal buying decision making processes are critically evaluated to understand what it makes the better marketing strategy and what type of implications of these aspects will have profound influence on the development of the marketing strategy for a chosen product or service in general.  The following part of the report will focus on these aspects of the consumer behaviour as identified in a marketing survey based findings and the key insights obtained in this survey work are subjected to the critical evaluation by means of applying critical insights gained from consumer behaviour theories and related concepts. The discussion will be continued based on the findings obtained from this evaluation. More specifically what aspects of the customer are related with motivation of their purchasing decision (Kruglanski et al 2018) and what aspects will enhance their satisfaction level in relation to the purchase of this product are some of the several factors that are discussed in the current report

Selected FMCG product overview

Television is the most commonly used product in almost all household globally. the current FMCG product employed for the evaluation of the consumer opinion and the marketing interests is Samsung television..  Samsung is the brand of the television and at present Samsung television is being produced in numerous designs like LED TV, LCD TV, QLED TV and UHD models. 

CRITICAL ANALYSIS

The current data is obtained based on the surveys conducted to evaluate the customer interests about the product. More specifically the survey is prepared to make it as exhaustive as possible as well  as inclusive as possible. Such diverse survey is basically required to make the consumer opinion as diverse as possible as well it is made to keep it as accurate as possible to represent the current customer opinion. As a whole the findings of the research provided very insightful information about the product which is of great significance to the organizational management. The survey is conducted to understand the opinions of the customers in terms of their buying behaviours, to understand the attitudes of the customer in making buying decisions about the product, Further the role of the culture and the family is studied to enable the understanding of the purchasing behaviours of the customers in general. The survey target audience are from different age groups  and they are also from mixed genders for the occupation of all the participants is not same, they are from different professions and also opinions of non-professionals like students also included in the opinion collection to make the opinions and survey findings as reflective of the actual picture as possible. The total findings of the survey instruments are quite useful for the organizational management, both for reinforcing on the positive aspects and to take up the necessary corrective actions to curtail negative factors.

Following are some of the observations and insights drawn from the survey findings:

Motivational theory indicates that the customers will be influenced by either drive theory, expectancy theory(Chen 2016) etc. Drive theory will enable the customers to purchase items and devices which will be of use for them to meet their biological needs and at the same time if the product is overwhelming meeting their expectancies the product will be accepted much for purchase.  A perception that the product will meet their needs and will meet their expectations is one of the important concern that will enable better sales of the products. The needs and expectations of the people will be differing from individual to individual however the product need to satisfy the needs and expectation both on majority basis as well by product differentiation strategies. The current findings indicate that the product quality is superior and also after sales product service is also of good quality. Finally durability of the product is also said to be of high quality, which ultimately has resulted in making them choose this product. Hence as per the expectancy theory the products managers need to continue to let the product do possess these qualities continuously.

Exposure, Attention and comprehension plays important role in enabling customers to finally choose their product. As per the findings from the research it indicates that the social media has played very significant role in making the customer’s decision making process. In the current digital world, social media is playing very significant role in making the customers get attracted towards the products in general. Any sort of positive review and opinion in the social media (Tajvidi e tal 2018) will draw reasonable attention and the attraction from the customers to purchase the product. Apart from that there is also significant influence on the promotion by discounts and other related positive characteristics. Customers when once exposed to this sort of channels and information are taking up immediate attention and interests in taking up the buying decisions.  Hence it is very much significant and important for organizational management to take up necessary actions and interests in promoting all the positive characteristics and positive opinions of the product.

Lifestyle and cultural factors(Aguirre-Rodriguez 2014) make a dominant role in engaging the customers to enable the required product purchase. More specifically if the product is of good quality and if it is available for better price(Aydinli 2014) it is possible that the customer choice can naturally get inclined to take up the decision to purchase that product(Song 2018). The same observations are found in the results of the findings for the current FMCG product. 

Positive emotions play an important role in making the consumers buy some product from the market. More specifically when a product is emotionally inspiring (Kimmel 2018), the consumer as well if it is upto the satisfaction levels of the customers, it is quite possible that the product can be purchased well and the demand for the product can be good. Most of the customers interviewed in this connection indicated that there three different aspects that are actually rendering them the best possible emotional satisfaction the first is happiness associated with the low price levels, the appealing brand names of the products and finally the looks of the product are also considered by many as the appealing factors in selecting the product. 

One important aspect found from the critical analysis and the observations from the customer opinions is the fact that most of the customers have not just preferred the Samsung television as their ultimate choice when they were asked for the preferential model. About 60% of the customers preferred Sony as the preferential model and about 40% of the total customers preferred Samsung as their preferential model for selection. Hence in this connection there is need to focus on the aspects that are mainly responsible to differentiate the interests of Samsung and sony. The key analysis of the findings emphasizes the need for the Samsung organization to focus on the benchmarks that are differentiating the interests of the customer in the selection of the Sony from Samsung. Further there is also key focus observed that the price of the Samsung model is considered by more number of participants as a motivation factors. Hence action or initiative taken by Samsung to deliver the prominent or bench marked characteristics of Sony or other competitors at the same price and brand names of Samsung can be of good use for the betterment of the market outreach in general.

Another important analysis that can be employed to understand better the current problems of the problem features is the fact that the current survey model and the profile lacks in covering a comprehensive understanding from the participant. AT the outset the participant’s pool is very little in diversity aspect. The diversity followed is still required to get enhanced.  There is need to increase the number of participants as well the participants are required to be increased in terms of diversity factors like age groups, cultural aspects as well need to be included from diverse professions. Typically there is no coverage of people from unemployment pools, retired people like veterans. It is more advisable to have an insight into the population demographics in the region and if stratified samples are collected for interviews the findings will give better insights and focus on the possible product characteristics. 

RECOMMENDATIONS

Customer driven marketing strategy is the most obvious and strategically correct strategy that customer need to focus on for making the product feasible and reach the customers in the most beneficial manner. It is required that the organization need to focus on numerous aspects of the product at present to make it more and more acceptable by the community. More specifically it is required that the product is expected to have the more differentiation than at present. Such differentiation should be based on to outreach more emotional elements of the customers. The product need to be designed based on the cultural and sub-cultural aspects of the customers. Typically if the brand names are appealing and reflecting the customer cultural factors, it is possible that the customers will find more emotional attachment of the product. Further the brand names and the product looks can be associated with more diverse cultural and family factors like the product can be reflected to make it appear as per the likings of the kids, the adults and other concerns like cost effectiveness as well. Such interests will make the product diversity and outreach more feasible and ultimately it is possible that the product marketing strategy can be more successful and can reach more and more customer in real time. 

The second strategic decision that the management need to take up is to take advantage of the exposure consciousness of the customer. As of now the positive reviews and the product promotion in the social media is making good impact on the interest of the customers. The same advertising campaign is to be extended for other modes of the promotion like more and more promotion in terms of the magazine briefing, advertising in the televisions(Andrews 2017), making it more prominent in event sponsored based promotions etc. Also focus on the actual content of the advertisement and the appeal will make the product outreach more practicable. If the message and the promotional advertisements are made in accordance with the actual target audience requirements it is more likely that the product will outreach the customers more effectively. IT should take key role in advertising and marketing (Hosseini et al.,2018). The marketing mix strategies of promotion need to be designed as per the customer diversity and diverse interests in the target region. For example a promotional message and the promotional channel employed to target a kid or child will be different from that that attracts a family head and again it will be different for other members of the family as well.

Effective communication (Camilleri 2018) is the key for marketing success of any product; hence it is very much required for the current product managers to focus on the effectivity of the product advertisements. The entire product advertisements are expected to represent quality messages as well the product promotion is expected to be catchy and should outreach more number of customers. Social networking(Goldberg et al 2018) based branding and promotion is the novel trend and any such channel if taken for advantage projecting all the possible positive characteristics of the product then obviously it will make up a strong impact on the market and this in turn will result in making the product reach the target audience more effectively (Stead 2018). Channels the advertisements to outreach all crossesctions of the prospective customers are very significant. Apart from all these traditional channels, compliance with the ethics and moral standards are making up very impacting business strategy at present(Epstein 2018). Financial performance can be augmented for corporate based on CSR initiatives (Kim 2018). More specifically if the product marketing is done based on the corporate social responsibility (Saeidi et al 2015)initiatives; it is possible that the product can be marketed well. The customer brand loyalty also will increase the product prestige will shoot up if the company take up initiatives in this direction.

Leave a comment


Captcha

Related :-