May 18, · This paper presents an extensive review on the influencing factors on consumers behavior and their buying decision-making process in marketing. The marketing starts and Estimated Reading Time: 4 mins Consumer Behavior – Marketing Research Paper. For marketers the term “aesthetics” relate to consumers five senses of vision, hearing, touch, taste, and smell in response to an object. Marketers to incorporate pleasing attributes to differentiate their product and to feed into consumer’s emotions when making purchasing decisions use these five elements Consumer Behavior Research: A Synthesis of the Recent Literature Kaveh Peighambari1, Setayesh Sattari1, Arash Kordestani2, and Pejvak Oghazi1 Abstract This article analyzes 12 years of recent scholarly research on consumer behavior published in the five leading international journals in this field
Consumer Behavior – Marketing Research Paper
Abstract From Deloitte Company predictions, the overall demand for consumer technologies is likely to increase in the next twenty-five years or so. Consumers are more likely to purchase the tablet computers and smart phones. However, computers of all types are likely to sell due to a higher demand expected in the next coming decade.
For global televisions, the change in growth in terms of sales will decrease compared to the previous years, but sales may be relatively high in the emerging countries.
In addition, those countries experiencing mild recession or stagnant growth will also experience the overall growth in consumer technologies. This paper will focus on ways in which the consumer behavior is likely to change over the next decade on research paper on consumer behaviour gadgets manufactured by the Samsung Company for instance, the hand phones.
The paper will also focus on how some consumer behavior changes will relate to culture, research paper on consumer behaviour, situational factors, and perception of the consumers, attitude, motivation socialization, adoption, and diffusion and their implications on the market segmentation, price, product, promotion, and place strategies of Samsung.
Introduction While the global economic growth forecast for the next decade is much stronger compared to the previous years, the outlook appears positive for most regions even the developing regions. The already developed markets might experience the weakest growth. In these countries, consumers might defer on expenditure on big items trying to maintain expenditure on smaller items, which includes the consumer technology.
Emerging markets, where consumer technology is relatively low will also enjoy the high overall growth and this will eventually affect the consumer behavior.
Currently, the modern society is spending a lot in technology than one might expect. This is less than 2. The consumer technology purchases starts with low prices of tens of dollars for mobile phones basicsand rises to hundreds of dollars for smart phones, laptops, televisions, tablets, and computers.
Organizational Overview For more than seventy years, Samsung Company has a reputation of making the world better through diverse businesses that currently span advanced technology, skyscraper, semiconductors, and plant construction, fashion, petrochemicals, hotels, and finances Chang, The flagship company, Samsung Electronics, leads in the global market in high technology electronics producing research paper on consumer behaviour digital media.
Particularly, Samsung is South Korean multinational conglomerate company. It has its headquarters in Samsung town in Seoul Kim, The company has numerous affiliated businesses and subsidiaries that are under the Samsung brand.
Lee Byung-Chull founded the company in as a trading company. The company advanced in the next three decades and diversified into food processing, insurance, textiles, and securities Kim, In s, research paper on consumer behaviour, the company ventured into electronics and the shipbuilding and construction in mid s.
Through reliable, research paper on consumer behaviour, innovative services and products, talented people, and a responsible approach to the business, the company is taking the world at a different with imaginative new directions Chang, Technological Changes that Will Affect Samsung In the Next Decade Today, an exceptional technology purchase cracks the four figures in terms of dollar Consumer Behavior, A decade ago, a big screen TV or an average PC purchased for than a thousand dollars.
For most consumers, the value for money is not quantifiable when purchasing or upgrading a service or a device Noel, Most consumers have an idea on what to purchase or the amount they might use. Consumer technology gives a good analysis of the consumer behavior. An average TV set is used five to seven hours in a day. Consumer technology offers such good value for various reasons. The other drive is the high level of competition for various categories of consumer technology.
For various vendors dealing with televisions, analysts have estimated a margin lower than two percent while others remain negative Consumer Behavior, On the hand, analysts estimated a low single figure for some tablets, with their profits generated from their accessory sales.
The expenditure on consumer technology in the previous years may stronger than producers expects because of a structural shift in priorities in the next decade. A high number research paper on consumer behaviour individuals, across many regions, may be putting emphasis on purchasing, enjoying, and owning technology than there before Noel, Buying a car or a good house was one of the rights of passage to becoming an adult.
Dating from a year ago, buying a car, or buying a house may as well cause a reset. Taking a public transport or renting an apartment is preferable than owning either of them especially on the congested cities Samli, Spending little on transportation and housing enables consumers to spend more money on technology devices Consumer Behavior, In developing countries, consumer technology appears to remain a significant purchase as households evolve from a subsistence-level existence.
In emerging countries, purchasing a television set comes first even ahead refrigerators, electricity since their TV set operate by use of a car batteryand other items for instance, showers Samli, For emerging countries, research paper on consumer behaviour, a television set may cost relatively low considering its entry-level price. This is lower in comparison to developed countries, with thicker flat screen television, and CRTs televisions still selling well.
Generally, consumer technology is likely to perform well in the coming decade, even where markets experience little growth, rising prices and declining profits. There are several reasons to consumer technology changing the consumer behavior for instance, consumer technology rises because of new markets regionally and globally. However, in relation to consumer technology, there is a limitation to budgets and the allocation of spending differs Noel, research paper on consumer behaviour, In many instances, consumers are readily persuaded to shift their spending on seemingly unconnected groups, and marketing should exploit these kinds of tendencies Samli, For instance, consumers with limited budgets may be unwilling to choose between a computer and a television, instead they may choose for a vacation and later use the traveling savings to purchase both devices.
Various factors research paper on consumer behaviour to consumer behavior and eventually affect the purchase of particular products. These factors include culture, situational factors, perception, motivation, attitude, adoption and diffusion, and socialization Noel, Culture is a significant factor that relates to consumer behavior and plays a major role in determining how a product will sell in certain geographical area Samli, It is important to note that, local culture plays a great role of a certain population in a given region, country, research paper on consumer behaviour, or city.
If a certain product does not impress the local culture, it is difficult for that product to reach buyers outside that place. It is vital for marketers to understand that, each culture or society has some form of social class Blythe, Buying behaviors of people in a particular culture is similar in a particular society. In such situations or places, marketing activities should conform to the society needs and wants.
However, in given society, each person has different needs for instance, social needs, biological needs, and psychological needs. The common nature of needs is that, some needs are pressing than the others. Therefore, some needs become motives when they are more pressing directing buyers to seek their satisfaction Samli, This implies, level of motivation affects the consumer behavior in a given society. Perception is the organization, selection, and interpretation of information with a motive of producing a meaningful experience to the consumers.
As the telecommunication keeps changing, the perception of consumers keeps changing also Noel, Basic phones are becoming extinct, personal computers changing and even the television sets changing from Cathode Ray Tubes to flat screens.
According to Samsung Company, the rise use of mobile phones with Operating Systems like Android will research paper on consumer behaviour a total different communication landscape, research paper on consumer behaviour. Challenging this tremendous change will entail changing the old processes from measurement to compensation. This will depend on different perception of consumers in relation to their needs.
What now matters is how the program for the advertising or promotion industries and their leadership will take on these pressing problems in future Samli, However, other factors like beliefs and attitudes will significantly affect the consumer behavior for the Samsung Company. Consumers possess some specific attitudes and beliefs towards different products Consumer Behavior, research paper on consumer behaviour Most of the beliefs and attitudes make up the brand image and affect the consumer behavior, which interest marketers.
It is the role of promoters to change the attitudes and beliefs of consumers through launching particular changes in this regard Samli, research paper on consumer behaviour, In the word research paper on consumer behaviour telecommunication, research paper on consumer behaviour, there ought to be advertisements spending on mobile phones, which currently comprises of one percent of budgets according to a study conducted by Marketing Evolution Blythe, According to other analysis conducted by Marketing Evolution, the figure will raise by seven percent after the penetration of smart phones.
In the next five years, the figure will rise by ten percent. Deloitte Company on other hand predicts that, in the next decade, five percent of the tablets sold will likely be to households or individuals who already own a tablet, which equates to five million tablets. Most of the products merge with various communities in relation to price and budget constraints of individuals or households Blythe, Target audience and the situational factors will also affect the consumer behavior in the next decade for telecommunication gadgets.
For developed countries, individuals owning tablets would want a newer version of the tablet that is faster and with more features Consumer Behavior, Changing a product to merge with a community sometimes is the biggest challenge promoters might experience.
In the last decade, an industry attempted to replace frequency with engagement but failed. This led to the failure of the engagement since they could not deliver on that. According to Ted McConnell, the measurement is supposed to go directly to the minds of the consumers. Dating from history, databases were the central point of locating stored data.
Only certain tools could access, analyze, report, and manage data with business intelligence data. The ability of those software and tools has grown as the technology keep changing over time but generally, any data that was big and needed the results fast required a bigger new set of tools referred as big data tools Samli, Recently, the capacity of the data tool managed to keep the pace of the growing data sets.
However, consumer behavior, research paper on consumer behaviour, social networks, sensor networks, mobility, and other sources that generated data caused organizational warehouse to overflow Consumer Behavior, The size of the data research paper on consumer behaviour not grown much from the previous decades. For organizations to analyze data in real time, most organizations have to consider the big data again Noel, This eventually will have implications to the consumer behavior.
However, many consumers do not notice technological changes as they occur. The consumer behavior varies from region to region and the available information Samli, In conclusion, various predictions by different telecommunication industries indicate a tremendous change in the next decade.
For instance, the demand for tablets is likely to change, and the supply will follow suit. Smart phones on the other hand, which currently describes a number of devices; tablets will diversify in terms of size, operating system, processor power, and business model.
To many consumers, size will be significant for multiple tablets, smart phones owners. Deloitte Company projects that; there would be an increase research paper on consumer behaviour the popularity and the number of smaller tablets.
The screen size, efficiency, and the size of these gadgets will determine the consumer behavior in the next decade. The purchaser of the new gadgets in the new markets will comprise the first time owners of for instance, smart phones, tablets, and the new flat screen Televisions.
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The paper will also focus on how some consumer behavior changes will relate to culture, situational factors, and perception of the consumers, attitude, motivation socialization, adoption, and diffusion and their implications on the market segmentation, price, product, promotion, and place strategies of May 18, · This paper presents an extensive review on the influencing factors on consumers behavior and their buying decision-making process in marketing. The marketing starts and Estimated Reading Time: 4 mins Consumer Behavior – Marketing Research Paper. For marketers the term “aesthetics” relate to consumers five senses of vision, hearing, touch, taste, and smell in response to an object. Marketers to incorporate pleasing attributes to differentiate their product and to feed into consumer’s emotions when making purchasing decisions use these five elements
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