...between the various types of consumers, according to VALS segmentation and the consumer impulse buying behavior. | | TABLE OF CONTENTS Executive Summary | 3 | Background of the problem | 3 | Problem Statement | 4 | Research Objectives | 4 | Review of Literature | 4 | Segmentation Plan | 5 | Research Hypothesis | 6 | Research Design | 6 | Results and Practical utility of the research | 6 | Scheduling the research | 7 | Results and outcomes of the research | 7 | Glossary of Terms | 8 | References | 9 | 1. Executive Summary The vibrant and exotic atmosphere of Delhi local markets can make shopping lots of fun. One of the biggest sectors is apparel sector. Local apparel markets in Delhi sell hundreds or thousands of products daily. It is not only famous in Delhi but people from all over India do their wedding shopping from Delhi shops which are cheap and of new fashion. People do planned as well as unplanned shopping from these local shops. It is usually seen that buyers purchase products which they have not planned and this phenomenon of unplanned purchasing is termed as impulse. There are many factors which lead to unplanned or impulsebuying. This leads us to determine the factors that lead to impulse buying behaviour in consumers as well as to determine which segment (based on VALS classification scheme) of consumers show the most impulse buying behaviour. 2. Background of the...
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...Emotions and Logic in Consumerism Abstract Consumer purchase decisions are often linked to emotions and can lead to impulse and uninformed buying behavior. This creates a problem for marketers who rely on emotional appeals to increase sales. In order for businesses to grow in today’s economy, they must acquire new customers and at the same time retain the old ones. Research indicates that in order for advertising to be most effective in acquiring and retaining new customers, these emotions must also be linked to logic. This paper examines how marketers are using emotions and logic to generate the most sales and retain more customers. Emotions and Logic in Consumerism Advertising can be seen in virtually every aspect of our lives, and is almost inescapable. We encounter it on billboards, radio, every internet site, magazines, cell phone applications, clothing, television, restrooms, gas pumps, and many more sites. This year in the United States, Black Friday sales hit over $1 billion in online sales. The average cost for a 30 second time slot for a Super Bowl commercial was $3.5 million, according to USA Today. Psychologists, marketers and business people worldwide are interested in why consumers consume. What is the driving force behind why someone will spend so much more money on Black Friday as opposed to other days out of the year? And how can a business better exploit these consumers in order to make more money? With so much money involved in our consumption...
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... Business Administration Student ID: 113110246 Supervisor: Nikola Zivlak Date: June 2014 Abstract For over sixty years, marketers and consumer researchers have studied Impulsive-buying behavior. Today, 30 to 60% of all purchases are impulsive in the USA (Crawford & Melewar 2003) for different product categories and it is considered to have a $4.2 billion annual volume. That’s why it is becoming more important for marketers to understand how people can be influenced when shopping in order to increase revenues and profits. Millions of dollars are spent on in-store marketing efforts. Over the years, different models have been created for marketers to better understand the key drivers that lead to impulsive buying. This dissertation is written for the retailer or marketer who will adjust their marketing strategies to capture the opportunities of the consumer impulse purchases. This dissertation focuses on City shop and the strategies they use to encourage impulsive buying behavior. The thesis will cover the following topics in regard to impulsive buying: - Factors and influences that lead to impulsive buying behavior? - The different promotional approaches used by marketers? - What personal traits influence consumers to buy on impulse and what is the behavioral process of consumers? Hopefully this dissertation will be useful for different retail stores, marketing managers and marketing graduates of China for understanding the implementation...
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...6-3 Consumer Behaviour * relationship between stimulus and response 6-4 * cultural factors (6-5) * combination of values, beliefs, behavior * acquired through socialization processes * why are values and beliefs important to marketers? * Forms their needs, shapes their wants * Tells us about their preferences * Subcultures * Determined based on: * Nationalities * Religions * Racial groups * Geographic regions * French Canadians (subculture) – 22% of population * Immigrants * Aboriginals * Asian Canadians * Chinese Canadians * Have different consumption patterns * Social Classes (6-7) * Based not only on income but also occupation * Different media for different income groups * Upper income groups watch news or talk shows * Lower income watch sports related programs or drama shows * Viewing pattern and consumption pattern varies depending on their social class * Social Factors * Reference groups * People that consumers are influenced by * Primary and secondary ref groups: pressure to conform * People you spend time with put pressure on you to conform to their lifestyle * Aspirational groups * People whom you don’t belong to but want to...
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...HND Business Management Simeon Alvas D0913058 David Game College HND Business Management Simeon Alvas D0913058 Abstract Consumer behaviour models are designed to explain how individuals make decisions to spend their available resources. It includes what they buy, how they buy it, why and when they buy it and how often they used it. One of the ways to influence this behaviour in a fast fashion retail setting is to use visual merchandising strategies which trigger a number of stimuli influencing the consumers’ perception. The purpose of this research is to establish to what extent this visual merchandising strategies influencing consumers with a different cultural background in a highly competitive multicultural retail environment with an emphasis on the flagship store of Armani Exchange Regent Street, London. The author argues that the available models of consumer behaviour does not provide sufficient flexibility due to their linear nature. Therefore, they are unsuitable to address the needs of a contemporary retailer operating in a multicultural environment. The researcher build his hypothesis by examining the available literature in the area of retail marketing. Consequently, the hypothesis is tested by analysing a mixed sources of primary and secondary data. The conclusion of the author is that due to the absence of adequate consumer behaviour model the researched organisation is missing on a considerable amount of sales. Furthermore, the author argues that the contemporary...
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...Asia Pacific Journal of Marketing and Logistics Emerald Article: Globalization does lead to change in consumer behavior: An empirical evidence of impact of globalization on changing materialistic values in Indian consumers and its aftereffects Nitin Gupta Article information: To cite this document: Nitin Gupta, (2011),"Globalization does lead to change in consumer behavior: An empirical evidence of impact of globalization on changing materialistic values in Indian consumers and its aftereffects", Asia Pacific Journal of Marketing and Logistics, Vol. 23 Iss: 3 pp. 251 - 269 Permanent link to this document: http://dx.doi.org/10.1108/13555851111143204 Downloaded on: 24-03-2012 References: This document contains references to 49 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 1778 times. Access to this document was granted through an Emerald subscription provided by INDIAN INSTITUTE OF MANAGEMENT AT AHMEDABA For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Additional help for authors is available for Emerald subscribers. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com With over forty years' experience, Emerald Group Publishing is a leading independent publisher...
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...MKT 2240- BUYER BEHAVIOUR THE BEHAVIOUR OF THE YOUNG TOWARDS LUXURY PRODUCTS WORD COUNT 1709 Submitted on: 2nd Sept 2013 Module Coordinator: John Sutton Content Introduction 3 *Luxury Background 3 *Today’s Youth 4 Consumer Behaviour 4 Self Concept Theory 4 The ‘A B C’ Attitude model 6 Conclusion 8 References List 9 Introduction "Luxury is a necessity where necessity ends." Coco Chanel The main purpose of this research is to find out what creates a spark in the youth of today when it comes to buying luxury products. For some it may be status and recognition for the others it may be comfort and quality, it may vary from people to people due to their personality. Today’s...
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...February 05, 2013 Strategy from the Outside In: Profiting from Customer Value Write-Up - Part II I. Introduction In Strategy from the Outside In: Profiting from Customer Value, George S. Day and Christine Moorman use research to determine business strategies that separate successful from unsuccessful firms. This write-up shall have a section, titled § II. Brief Summary, which outlines each chapter in Chapters 7 through 13, including the conclusion. This write-up shall also have a section, titled III. Application, which shall apply the material from § II. Brief Summary to a firm (hereinafter "Firm A") with which I worked as a business consultant. Firm A is a multi-national holding company that specializes in acquiring, supporting, and growing its subsidiary companies through accelerated organic growth as well as through acquisitions and/or strategic joint ventures and divestitures. II. Brief Summary Chapter 7. The Third Imperative: Capitalize on the Customer as an Asset For a firm, the profitability of the customer asset - the sum of the discounted long-term profits associated with the customer's purchases and referrals - is based on three principles. First, that a firm must distinguish between behavioral loyalty – the frequency of customer purchases from a firm when a need arises – and attitudinal loyalty – an attachment to the firm and/or its specific products or services. Second, that a firm must manage customers to engage in behaviors that directly...
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...Consumer Behavior Models in Tourism Analysis Study Muhannad M.A Abdallat, Ph.D. Assistant Professor Hesham El –Sayed El - Emam, Ph.D. Assistant Professor Department of Tourism and Hospitality, Faculty of Tourism and Archeology King Saud University ABSTRACT The theories of consumer decision-making process assume that the consumer’s purchase decision process consists of steps through which the buyer passes in purchasing a product or service. However, this might not be the case. Not every consumer passed through all these stages when making a decision to purchase and in fact, some of the stages can be skipped depending on the type of purchases. The reasons for the study of consumer’s helps firms and organizations improve their marketing strategies by understanding issues such as: • The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products); • The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); • The behavior of consumers while shopping or making other marketing decisions; • Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; • How consumers’ motivation and decision strategies differ between products, that differ in their level of importance or interest that they entail for the consumer; and • How marketers can adapt and improve their marketing campaigns and marketing strategies...
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...CHOCOLATE CONSUMERS FEELING GUILTY FOR THE WRONG REASONS Steven J. Greenland and Christopher Galloway Swinburne University of Technology, Melbourne, Australia. INTRODUCTION New Zealanders are no strangers to taking on multinational companies when they view their actions as unethical. It was two New Zealand school girls who unearthed the GlaxoSmithKline (GSK) Ribena vitamin C (or lack of it) fiasco that resulted in fines and GSK having to pull misleading advertisements, not to mention a global wave of criticism washing over the pharmaceutical giant (e.g., New Zealand Herald 27th March 2007, Vasagar 2007). In 2009 the New Zealand public learned that Cadbury was substituting palm oil for cocoa butter in its chocolate (e.g., New Zealand Herald 4th May 2009). At the time many multinationals used palm oil in their products and while its use received considerable attention from conservationists, Cadbury was using only certified sustainable palm oil; a move that was part of a cost cutting exercise to help maintain pricing levels for its consumers. However, there was considerable public outcry, as well as protest by international environmental groups such as World Wildlife Fund (WWF) and local organisations such as the Auckland Zoo (over the potential loss of Orang-utan forest habitat to palm oil plantations). The negative publicity from the palm oil debate created damaging ‘noise’ for Cadbury’s ongoing worldwide ethical brand building efforts and its high profile announcements that...
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...Good and poor examples of executive summaries This is a GOOD example from an Accounting & Finance assignment. Footnote Executive Summary This report provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Outdoor Equipment Ltd. Methods of analysis include trend, horizontal and vertical analyses as well as ratios such as Debt, Current and Quick ratios. Other calculations include rates of return on Shareholders Equity and Total Assets and earnings per share to name a few. All calculations can be found in the appendices. Results of data analysed show that all ratios are below industry averages. In particular, comparative performance is poor in the areas of profit margins, liquidity, credit control, and inventory management. The report finds the prospects of the company in its current position are not positive. The major areas of weakness require further investigation and remedial action by management.Recommendations discussed include: improving the average collection period for accounts receivable· improving/increasing inventory turnover· reducing prepayments and perhaps increasing inventory levels The report also investigates the fact that the analysis conducted has limitations. Some of the limitations include: forecasting figures are not provided nature and type of company is not known nor the current economic conditions data limitations as not enough information is provided or enough detail...
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...An Analysis on How to Handle Dysfunctional Customers And how they affect on Food Servers in selected Restaurants at Eastwood City ------------------------------------------------- A Method of Research and Thesis Paper Presented to the Faculty of the Hotel and Restaurant Management Arellano University - Pasig ------------------------------------------------- In Partial Fulfilment of the Requirement for the Degree in Bachelor of Science in Hotel and Restaurant Management Presented By: Calinao, Loreinn G. Tierra, Alyssa Marie G. Encio, Mary Bless Estrada, Erik E. Romero, Jerry Arellano University – Pasig Pag-Asa St. Brgy. Caniogan Pasig City Approval Sheet In partial fulfillment of the requirements for the degree of Bachelor of Science in Hotel and Restaurant Management this Method of Research entitled “AN ANALYSIS ON HOW TO HANDLE DYSFUNCTIONAL CUSTOMERS AND HOW THEY AFFECT FOOD SERVERS IN SELECTED RESTAURANTS IN EASTWOOD CITY” was prepared and submitted to the College of Hotel and Restaurant Management. PROF. LOUIE REYES Adviser Approved by the members of panel on October 2014. With a grade of ____ ________________________________________ Chairman _______________ _______________ _______________ Member Member Member Accepted in partial fulfillment of Bachelor of Science in Hospitality and Restaurant Management PROF. KATHERINE GUEVARRA ...
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...Recommendations 5 Bibliography 6 Executive Summary In a ethnicity of plenty, where organisation are selling very similar products at almost the same price, and of the same quality to even the similar consumers, These consumers are free of charge to make use of other, ethical criteria in making their choice between opposite options. There are definitely different levels of ethical consumption - with some people being highly morals determined, while some are just getting on a generally satisfactory bandwagon. The reality still that there is a rising crowd of ethical consumers which need to be taking seriously. Because now it is very easy to be an ethical consumer The Internet, press, and magazines are all spreading company’s information about where and how their products and services are being generated. Blogs and customer help desk are also help customers who by one way or the other had terrible experience or who have important inside information to obtain immediate international exposure. Exposing unethical conduct and practices is a definite title for journalists, so business organisation is under more enquiry than before. Businesses like Sainsbury’s are carefully but continuously examining how well they are meeting the evolving ethical expectations of consumers; they simultaneously respond to the trends of ethical consumerism; continue being profitably sustainable in a very flat economy. Introduction In response to theory of ethical consumerism, companies are now...
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...What are the most important factors that influence customer satisfaction when buying online? Jing, L., Yang, Z, L. and Jun, M. (2012). Measuring consumer perceptions of online shopping convenience. Journal of Science Management, Vol.24 No.2, 2013, pp.191-214. Retrieved from www.emeraldinsight.com/1757-5818.htm In this article, the authors reveal one of the key factors to influence the perceptions of consumer when they do online shopping. The data the article uses is gained through organizational surveys of a major retail company in Hong Kong. The authors use this data to try to identify the key convenience dimensions of online shopping. Their research focuses on revealing the pivotal dimensions of convenience and the related sub-dimensions of online shopping. As the authors mentioned in the article, “Shopping convenience has been one of the principal motivations underlying customer inclinations to adopt online purchasing.” (p.191). The article is useful to my research topic, as the authors point out one of key factors in convenience of online shopping to customers, which is time-saving. The more time consumers spend on connecting with a service, the lower convenience degree consumers will perceive. (p.193). The main limitation of the article is the number of participants in this study is relatively small, thus the authors indicate that the scale items of this research in the future should be further modified or changed to improve validation. Although this article does...
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...in the future. Businesses succeed by getting, keeping, and growing customers. Customers are the only reason you build factories, hire employees, schedule meetings, lay fiber-optic lines, or engage in any business activity. Without customers, you don’t have a business.” Companies must establish and maintain a high customer value for their products and services because consumers use customer value to make buying decisions. You make buying decisions in day-to-day life experiences. For example in buying for a bottled water drink. Should you buy the wilkins worth P15 or the evian water worth P65? In every buying decision, a consumer asks the same question: 'is what I am going to receive worth what I have to give up in order to get it?' The gain the consumer receives for the benefit is weighed against the cost the consumer must pay to acquire the benefit. The value the individual consumer places on a product or service becomes the customer value for that offering. This customer value is weighed against the customer values assigned for similar products and services that would provide a similar benefit. Consumers will typically purchase the item with the highest customer...
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