Buyer Behavior Report : Consumer Decision Making Process

Understanding the purchasing behavior of a specific demographic is one of the most important sets of research data available to marketers. To develop a strategic plan to present your products in a way that produces the most optimal buying behavior, one needs to understand what the target audience avoids as much as what triggers them to spend their money. (Marketing Land, 2014)

Computer technology is constantly advancing over software and hardware that is available at any one given time. These constant changes affect how long computer products can sell for a premium price but also can make it cheaper for those consumers that are not interested in the newest and latest components. Personal computers (PC), also known as desktop computers, are common place in jobs, schools and homes. The demand for personal computers is constant and revolving since components of computers gets better and more powerful with time. The target market then becomes anyone that uses a personal computer for home or work. HP uses the fact that computers are a common item in any office or home to their advantage and offers not only PC’s but other accessories pertaining to computers as well. While HP currently excels at providing a product for a decent price they are missing out on consumers that Equalus will focus

In the modern marketing world, consumers are classified in many types according to various criteria and characteristics, such as: gender, age, geographic area and individual customer behavior. In general, customer behavior and especially buying behavior represent the most essential element that sellers take into account when planning a marketing strategy.

Three new computers offering to customers including wholesale and retail prices. These three brands were selected according to their design, connectivity, performance, price and help and support. The ratings were compared and the top 3 leading brands were chosen.

Before conducting a market research or making a product, researchers must ask themselves will it be helpful. Most businesses will not see progress or big profits within the first few years of the new business. The business must plan ahead to determine psychographic, demographic and geographic segments. They must also be able to provide the customers with their needs and wants. A Dan Whittner (2010) states, “in hard times or easy, setting customer strategies focuses on one thing: understanding your customers’ needs. Dan, indentifies how listening to customers guides strategy”. He also states, “It is important to know the difference between talking with your customers and talking at them. Dan Whittner (2010) highlights how engaging customers grows a business”.

The decision was made to pursue the home computer user, through a strategy focused on shipping low-cost, high-quality computers directly to customers as orders are received (make-to-order). This production model is similar to the Dell approach, and appears to be the model that will dominate the PC industry. Because the company does not plan to build finished PCs (i.e., make-to-stock) in anticipation of future sales, market demand forecasts, supplier quality, supplier capacity, lead time, and delivery reliability are critical factors. The company is willing to carry some units in component inventory as safety stock as a buffer against missing customer order commitments. Pacific Systems Corporation will assemble the computers in its own facilities, but intends to outsource many of the key product components and subassemblies, including the DVD drive, a feature that will be standard on each PCS computer. The decision to outsource the DVD drive resulted from an executive-level insourcing/outsourcing study that concluded the cost to manufacture these drives in-house was highly prohibitive. The product requires production capabilities that are beyond PCSs current expertise. Marketing estimates that first year demand for the new PC, and therefore the DVD drives, would be approximately 500,000 units, with a 20 growth expected for year two. Expected pricing for the computers

Consumer behavior is the most important factor which we need to concentrate. The more we understand this factor the more success for our business. In our case, we focus on the following elements:

being a premium brand when customers choose to replace or upgrade their laptops in the future. Our

To determine what products to produce companies must first understand why consumers buy the items they buy, or determine their interest and necessities, this understanding is gained from analyzing consumer behavior. Consumer behavior is defined as the process by which individuals search for, select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants (2017). To understand how to target their market consumers Nighthawk Motor’s needs to analyze the factors associated with consumer behavior. Research services describe five important consumer behavior factors as; marketing campaigns, economic conditions, personal preferences, group influence, and purchasing power (N.D.).

Consumer Psychology is the art of determining consumer requirements through study and analysis of consumer spending and purchasing habits relating to products or services advertised for sale. The analysis portion focuses on consumer motivation concerning products and mood relative to purchasing products. The Cherry (2012) website Consumer Psychology is a specialty area that studies how our thoughts, beliefs, feelings, perceptions influence how people buy and relate to goods and services. One formal definition of the field describes it as the study of

To start, marketers have to understand how the market where their consumers buy works and is influenced. The behavioral pattern of consumers is referred to as consumer buyer behavior, and all of these consumers combined forms the consumer marker. When marketers are studying the consumer market, it should be noted that they’re not only looking at what consumers are purchasing, but why they are purchasing, and how (or how much) they are purchasing. To understand why consumers purchase goods, marketers tend to look towards what factors could possibly influence consumers to buy. These factors could be cultural, social, personal, and/or psychological, but they all play into how and why consumers buy products, and through analysis, marketers can understand what kind of person responds to certain kinds of products and marketing strategies.

The market of computers has many different options and brands for customers to choose from. Everybody has their own opinion on why they buy a certain brand and what they think are the best qualities on a computer. The knowledge buyers have can vary from someone who knows everything about the computer and how it works on the inside; to the average buyer who mainly needs it for school, business, or personal everyday use.

Consumer behavior is usually significant to the marketers, which makes the great contribution to let the marketers further know about consumers’ think such as the factors, which play the main role in making the determining (Brosekhan, Velayutham & Phil, 2008). Consumer buyer behavior is an important factor in consumer behavior, which is defined by Blythe (2008) as a kind of significant behavior includes

The consumer decision making process deals with need recognition, information search, and evaluation of alternatives, purchase, and post-purchase behavior. Marketers use these five steps as a guide to study the way consumers, in their target market, make decisions. Marketing managers have realized over the years that consumers’ decisions usually don’t follow all these steps in order. Consumer behavior will always be a critical aspect to a company’s marketing plan because when understanding it, marketers will create a proper marketing mix and a more precise target market for the marketing plan.

The marketing process of any product or service begins with potential consumers; it is a customer-centric environment which primary function seeks to fulfil the needs and wants of each individual customer (Sheth, Sisodia, Sharma, 2000, p.55). It is these ‘wants’ that marketers have to identify and manipulate to turn them into a need and subsequently a sale, “people have narrow, basic needs but almost unlimited wants” (Kotler, Armstrong, Wong, & Saunders, 2008, p.9). The majority of the population may have unlimited wants however they also have limited resources so value for money is a crucial factor in the process of turning potential customers into consumers. Understanding the market is therefore the first step in determining whether a