Name: Nam Hoai Nguyen
Student ID number: s1128290
Module tutor: Kandis Watson
Course: MBA
Word count: 2,854
I.
According to Bloisi, W., Cook, C.W. and Hunsaker, P.L (2003), consumer market refers to the purchase of goods and services purely for personal consumption. Consumer market and consumer buying behaviour must be studies and understood before an appropriate marketing plan can be developed. In general, organisations and companies need to know and understand the behaviour not only for their own customers but also for all consumers.
Multiple roles of Consumers
As users of a product, consumers are concerned with product features, thus users define what is needed from a product. Payers are consumers who pay for the product and are primarily concerned with its price and other financial considerations (reasonable life cycle of the product, cost of maintenance, cost of consumables, etc). Buyers focus on the logistics of the products (online, by phone, mail or retail center).In a particular purchase situation, the roles may be filled by a signal individual or by multiple people, for example, a parent may decide on the type of baby food that they wish to purchase but their partner may also beinvolved in the decision making or transaction, while the baby is the ultimate user of the food.
The stages of consumer buying process
The consumer buying process:
Irrespective of the particular role, consumers constantly face a number of choices:
-Whether to purchase
-What to purchase.
-Where to purchase.
-From which supplier or retailer.
-How to pay for the purchase.
Boddy (2008) indicated that marketers need to have a sound understanding how these decisions are made in order to develop appropriate marketing strategies. The consumer buying decision process illustrated as above is a useful way of understanding how consumers make buying
