Lifestyle Influence of Consumer Behavior †MyAssignmenthelp.com

Question: Discuss about the Lifestyle Influence of Consumer Behavior. Answer: Introduction Consumer behaviour is influenced by many factors, which plays an important role in the governance of final purchasing. The different kinds of consumers have different kinds of buying habits and behaviours. The behaviour in generally is influenced by many factors such as needs, feelings and the barriers to buy products. These factors are highly important for multinational companies as they use this strategy as their weapon to penetrate deep into the customers minds (Ammi, 2013). The chosen organization for this assignment is Woolworths Supermarkets. The chosen organization is necessary to understand the importance of a customer journey map, which these organizations use as their marketing strategies. They use these strategies to mould the perception of the customers into their favour. The main purpose of this assignment is to understand the behaviour of customers with the help of some important theories and concepts behind the consumer perception of buying. Reflection of buying behaviour Before I did not know anything about the customer journey map to a shop, I did not care that much on my entire journey to the shopping. However, I had also gone through the stages, which plays an important role in constructing the customer journey to a shop. The customer journey map has immensely helped in understanding the real psychology behind the buying behaviour of consumers. I initially did not have any idea of a structure that works behind the decision-making before the purchasing of a product. However, the customer journey map have made me realized that even I used to undergo some kinds of processing before the final execution of the busying takes place. The customer journey to buying has helped in analyzing my own perceptions while going for the shopping. Based on all the perceptions, which I am able to derive with the help of a customer journey, following are some of my perceptions that I make before making the final purchasing (Belk, Askegaard Scott, 2012): I generally select my preferable locations or malls before going out for a shopping The preferred location might be because of the branding values or the availability of the malls to my living destination When I opt out for a particular mall, I generally think that there would be high range of products, which are not feasible to my pocketing values I usually have my own perceptions that I would stick to my pocketing values; however, sometimes I find this difficult to be persistent with my thoughts Once I step into the market, my perceptions is changed accordingly by looking onto the available range of products and their marketing styles I am usually being attracted towards the highly designated products However, the shopping does happen in a series of confusion and making of decisions I sometimes throng towards a particular product because that particular product raise my desire; however, all of a sudden I am landed to the ground when I look into the price tagging This is something very strange part of my behaviour that even make myself confuse on how I am behaving like this However, I entirely enjoy the sort of behaviours, which I have regarding the buying of products One more interesting part of my buying behaviours is the presence of less affirmation on my decision, which a good salesperson can anytime use to their benefits This has happened to me in past that I was not interested towards a product however, the intense convincing power of the salesperson did actually made me shop of the particular product I am very fascinated towards good products but I am very choosy also when it comes to the product pricing Some of the consumer behaviour related concepts are very relevant to my characteristic, which is reflected on my way of shopping and the desire to initiate a shopping. Some of the behavioural traits for the shopping may include such as following (Goldsmith, 2016): Disposition of goods to the garbage Usage of experiences to enhance the buying practices Decision making in the influence of several factors that also include salespersons selling skills Changing attitudes with respect to the shopping environment majorly influenced by high-end class standard of the shopping malls These are some of the buying behavioural traits, which have helped me immensely in constructing my own buying behaviour (Griskevicius Kenrick, 2013). The lens of consumer behaviour theory Different brands use different theories and models to change or actually inspire the perspectives of buyers for earning a high rate of revenues from the shoppers. Following are some of the theories, which marketers of todays world use it to perfection to mould the buying behaviour of customers (Haghshenas et al., 2013): Martin Fishbein and Icek Ajzen postulated the theory in the year 1960s. The concept behind the postulation of the theory was the decision-making skills of the consumers, which they develop quite before they move to the shopping. According to this theory, consumers are acting as rational actors who actually make their decisions based on their own interest (Juster, 2015). Abraham Maslow postulated the theory in the year 1943, which emphasize the importance of needs fulfilment for people. It includes five stages, which states the different level of needs that common people requires in specific. The five stages of needs are such as physiological needs, safety, love, esteem and self-actualization. These are some of the needs of a common people, which they look for being motivated. Different marketers use these five stages very effectively in attracting the perceptions of consumers (Kahle Chiagouris, 2014). Hawkins Stern did believe and argue the traditional form of making of buying behaviours. Hawkins Stern argued that the traditional form of making decisions could be made adjoined to the creation of impulse in average number of customers with the help of external attracting agents. External influencing agents can be anything such as salesperson skills. Marketers use this form of skills to mould the perception and buying decisions of average number of customers (Kardes, Cronley Cline, 2014). Overview of Consumer research on different theories The above-mentioned theories for buying behaviour of consumers do very well hold their own ground in the perception of consumers for buying. The observation made on the personal traits for the shopping and on those who are related to one by means of friendships or some blood relations, the variations of decision making for shopping can well be seen. In most of the cases, shoppers have their mindset for a particular product or a brand, which they never change under any circumstances (Katiyar Katiyar, 2014). However, some are there who are motivated to do shopping by means of several things such as buying traits of some other peoples in contact. They used to have initially no such intentions for buying the particular product; however, they do so after observing the buying reasons of their close ones. The reasons actually excite their feeling towards the shopping. The feeling and the desire actually do shape such peoples mind, which result in shopping the product despite having no such prior intentions for that (Lantos, 2015). Other kinds of shoppers are also observed at the market place, which neither had any prior intentions for the shopping nor are they influenced by any others shopping traits. However, they are influenced by some external factors such as effective moulding skills of salespersons. Nevertheless, the conversion rate is comparatively lower than that of traditional customers. From the perspectives of organizations, it is important that they receive all kinds of customers to their market place, as every single customer is an asset (Mullen Johnson, 2013). Today in the modern era of business, shopping malls or supermarkets often include variety of brands for a particular product to provide customers a wide range of options. This is the one implication of consumer behaviour, which different companies use to mould the perceptions and buying behaviours of customers to earn the maximum benefits. Offering a single brand for a particular group of product is not a healthy selection for holding their nerves (Oliver, 2014). The modern era of shopping has made this a compulsory strategy for numerous of multinational companies to offer wide range of brands. Moreover, modern day customers prefer to compare the offerings of different products for its pricing, affordability and quality. These are some of the factors, which dictate the customers for making decisions on product selection. In other words, this is nothing but the manipulation of customers mind by offering comparable products. This is nothing but the creation of impulse in customers for buying the products, which is indeed the adherence to one of the mentioned theories of buying behaviour. This is because that they have all the brands available at one place, hence, they need not to go anywhere else for the purchasing of products of their choices (Rani, 2014). The above diagram clearly illustrates the phenomena of consumer behaviour. It shows the modelling of consumer behaviour, which happens in a collection of three stages such as strategy making by the firm, understanding the market place reactions and then analyzing the consumer behaviour. This is extremely helpful in redesigning the strategies for affecting the buying behaviours of the customers based on the collected data on the buying nature of consumers. Relevance of the mentioned theories The above-mentioned theories are very much relevant to my personal trait for buying, which I had mentioned in the reflection section. The mentioned theories are not entirely related to my personal buying behaviour. However, some of the theories are strongly relevant to my personal trait. Theories on personal needs and impulse creation are very much related to my characteristic of buying. I normally plan for shopping when there is a need for some product. I even make my own decisions about the products and the brands; however, I find it difficult to stick to the set plan. This is because of the fact that the external environment of the shopping malls of my choices often attracts me towards those products, which I had not planned before. I am never fixed at one product (Safi Ramay, 2013). For example, once I went to the mall for buying a Samsung Smartphone. I even planned for my shopping quite prior to my visit to the mall, which I did at home by searching the best phone of my needs a t the Google platform. However, once I stepped into the mall, I just found myself undecided on the products, as there were wide ranges of products of other brands. Most interestingly, the other brands were best in features than the one I anticipated. However, even after that, I was undecided and did not have any intention to change my selection, as those products were slightly higher than my budget. Nevertheless, one of the salesperson approached to me and started convincing me towards some other product such as Sony. The salesperson made me realized that the offer is not a waste if I spent a few higher. The salesperson did actually change my perception and created an impulse towards the Sony Smartphone. I finally landed up shopping the Sony Smartphone, which I had never thought before. The example very well explains the fact that my perception of shopping and the relevant buying behaviour is very much influenced by some of the established theories on the buying behaviour of consume rs (Solomon, 2014). Implications of consumer behaviour on Woolworths Different supermarkets have different strategies to cope with the varied range of buying behaviours of different consumers. This is because of the fact that different supermarket brands use different strategies to attract the perception of customers. In addition to this, different supermarket uses a very similar strategy, which is as the following: This is how every supermarket chains strategise the selling of their products. Woolworths along with Coles form the duopoly in the Australian Retail market. Woolworths is specialized in different kinds of groceries items. Apart from that, it is also engaged in selling several kinds of magazines, stationary items and DVDs. It is the largest supermarket chains in Australia. It has well studied the buying nature of consumers and the effective forces behind the making of decisions. This is because of the fact that Woolworths are now considering on its new strategy, which states that low prices, always. This just shows the strategy making of the Australias largest supermarket chain. They understand the importance of consumer behaviour, which is because of the fact that they quickly scuffle from their existing strategy to the most effective strategy. The declining sales of Woolworths in the year 2015 have forced them to change their existing strategies to retain their existing customer bas e and to add more customers that are new. This in other words explains the implications of consumer buying behaviour, which force the leading brands to reshape their existing strategies (Van Raaij, van Veldhoven Wrneryd, 2013). The changes of existing strategy can be anything ranging from the reduction of product pricing to its quality enhancement. Another strategy, which Woolworths does make, is the offering of discounted pricings on the multiple unites of the same product. These all strategies used by Woolworths simple goes on telling a fact that different leading brands are worried of changing consumer behaviour. The varied range of different perceptions and buying behaviour of customers do influence the strategy making of such companies. Indeed, it is influenced differently at the different stages of their business just to match up with their changing behaviours (Cameron, 2017). Woolworths is one of the most renowned names in the Australian retailing market; however, consumer behaviour has even not left them apart from being influenced. This is one such fact, which strongly governs the fact that consumer buying behaviour does affect the business of leading brands and its different stakeholders (Vidyavathi, 2012). On a same note, Woolworths did force its suppliers to reduce the costs of raw materials to be cost-effective in terms of manufacturing of the products. Woolworths being one of the leading supermarket chains in Australia doe very well explain the dominion power of consumer behaviour. Moreover, consumer behaviour is a challenge for the companies and for its marketing teams, which construct the customer journey map to support their companies having effective control on customers perceptions (Zinkan, 2012). Conclusion Consumer behaviour is one factor, which has challenged the strategy making of many leading companies in past and continued to do so in the present as it is evident from the example of Woolworths. The company has considered different kinds of strategies in past, which it again reconsidered in the year 2015 for meeting with the changed behaviour of customers. The highly incremented ranges of differing consumer behaviours and the elevating market competition in between different companies have posed ample pressures on the strategic management team. This is for such treasons that company such as Woolworths are considering relevant changes in their strategies tom match up with the changing customers perceptions. References Ammi, C. (Ed.). (2013).Global consumer behavior. John Wiley Sons. Belk, R. W., Askegaard, S., Scott, L. (Eds.). (2012).Research in consumer behavior. Emerald Group Publishing. Cameron, N. (2017). Woolworths details 3-year strategy to become customer centric. 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