Consumer Decision Making Process And The Beverage Brand Products

Buyer’s behavior is strongly influenced by members of their family. Personal factors can also affect the consumer behavior. Some of the important personal factors that influence the buying behavior are: lifestyle, economic situation, occupation, age, personality and self-concept. Age and life-cycle have potential impact on the consumer buying behavior. The occupation of a person has significant impact on his buying behavior. Consumer economic situation has great influence on his buying behavior. If the income and savings of a customer is high then he will purchase more expensive products. On the other hand, a person with low income and savings will purchase inexpensive products. Lifestyle of customers is another import factor affecting the consumer buying behavior. There are four important psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs and attitudes. The level of motivation also affects the buying behavior of customers. Every person has different needs such as physiological needs, biological needs, and social needs. Customer possesses specific belief and attitude towards various products. Since such beliefs and attitudes make up brand image and affect consumer buying behavior; therefore, marketers are interested in them.

In this course, it is mandatory to do practical study about consumes of a specific company or product. This study and the resulting report was conducted and submitted as a partial requirement for the Consumer Behavior.

Consumers are the centre of many marketers work. While the consumer is part of the marketing environment, it is also very important to recognise and understand the more personal and specific influences effecting consumers and the nature of the decision making process they use.

The fundamental factors that were identified to develop the psychological processes include perception, learning, memory, thinking, emotion and motivation (Sternberg 1996). Following the structure of the SOR model, Howard first (1969) proposed the consumer decision-making model (Richarme, M., 2005), which was further developed to be the ‘Theory of Buyer Behaviour’ (Howard et al., 1973). The model considered environment stimulus as variables impacting consumes, and was triggered from various sources. These inputs included core elements of products such as price, quality that the buyer truly confronts (Loudon et al., 1993) as well as symbolic stimuli resulted from advertising. Besides, social stimuli including family, peer and other reference groups also influence consumers before entering the decision process (Foxall 1990). In contrast, Engel et al (1995) did not focus on environmental factors, but paid more attention to the hypothetical construction of the decision process that was the main organism being influenced by inputs. The entire organism was structured around a seven-point decision process: need recognition followed by an internally and externally information search, the evaluation of alternatives, purchase, post purchase reflection and disposal. Aligning with Howard (1973), mainly two factors significantly affected these decisions. First, market stimuli affected consumer’s information process which was

A case study was conducted by a market research company to find out the preferences and the amount of consumption of carbonated soft drinks in Center City, USA. The research firm selected a random sample of 80 residents, who are 16 years of age or older. The company then collected a data for each resident, including age, estimated amount of soft drink consumption per week and the preferences among four categories of soft drinks; Coca Cola, Pepsi, Dr. Pepper or Other. The responses of the survey were recorded using code numbers 1, 2, 3 and 4 for Coke, Pepsi, Dr. Pepper and Other, respectively. In order to compare consumption preferences with other similar cities, the same sample data for 80 persons were taken from a second city, Small Town.

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

Economist, business analyst, and statisticians all are using consumer decision-making as a strategy. They use the information to ponder, “how different amounts of prior knowledge

Understanding consumer buying behavior entails marketing, relationships, and consumer behavior. Consumer behavior comprises all the consumer decisions and activities connected with the choosing, buying, using and disposing of goods and services. Marketers must pay very close attention to consumer behavior that occurs before the purchase and after the particular product has been used. Studying consumer habits is one of the steps in marketing search and analysis. In addition to other basic principles of consumer buying habits, marketers also need to study the decision and actions of real people. Until recent history the study of consumer behavior was focused on generalized consumer decisions. With

The research in consumer behavior and psychology shows that the brand related information determines the probability if the customer will select a particular brand (Mitchell 100). Companies have learned to play with the psychology and emotions of consumers and have succeeded in attracting even those consumers that were not motivated by the traditional advertisements. Companies these days are focusing on the basic psychological principles to understand how to plan and execute the advertisement.

Coca cola use best methods and equipments to ensure the quality of the products. Company aimed on Special occasions for the promotion so they can easily sell their products. Beside this, customer satisfaction for the company plays a vital role so they print the customer satisfaction code on the bottles. In this report I am examine various points

Coca Cola has settled on numerous pricing choices yet there is doubtlessly their definitive objective to amplify shareholder esteem. Hence, Coca Cola uses lower value point to infiltrate new markets that are particularly delicate to cost. Coca Cola does that to face the opposition and to raise brand mindfulness among the populace. When it is firmly executed, it re positions itself as a premium contrasted with various contenders. The brand has a picture of acquiring impalpable advantage way of life, gathering association, snippet of bliss & satisfaction. However the advertising technique still concentrates on a reasonable pleasure in life (Coca-Cola Company

The fundamental goal of this study lies in comprehension the association and concentrating on and understanding the promoting adequacy of Coca-Cola product.The technique utilized as a part of contemplating and comprehension the apparent perspectives of buyers towards the item was 'Testing'. The discoveries of the action have been attracted out type of diagrams and proposals have been offered there from the Coca-Cola Company is the world's biggest drink organization, biggest producer, wholesaler and advertiser of non-mixed refreshment gathers and syrups on the planet and is one of the biggest companies in the United States.

The fundamental goal of this study lies in comprehension the association and concentrating on and understanding the promoting adequacy of Coca-Cola product.The technique utilized as a part of contemplating and comprehension the apparent perspectives of buyers towards the item was 'Testing'. The discoveries of the action have been attracted out type of diagrams and proposals have been offered there from the Coca-Cola Company is the world's biggest drink organization, biggest producer, wholesaler and advertiser of non-mixed refreshment gathers and syrups on the planet and is one of the biggest companies in the United States.

Once there is the decision to consume or purchase good s or services the common factor then becomes the need for that product which is at times evaluated based on attainability and price. In many situations if consumers are not motivated by the need to purchase then the possibility lies that they will not purchase. There may be different justifications that consumers internalize when making the decision to purchase a particular product at its given price. Different decisions supports the need to purchase a product such as

The beverage industry usually refers to the production of drinking products, and can vary depending on the ingredients and process each beverage has. The main characters in this industry are the water, coffee, energy drinks, dairy alternatives, juices, tea, wine & spirits, sports & protein drinks, beer and CSD´S.