Discussion 3

 Buying decision behavior

Author name

Affiliations

Consumer behavior refers to the process of deciding about what, when, where, how and from whom to purchase goods and services ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"DGO7ib35","properties":{"formattedCitation":"(Kotler & Armstrong, 2010)","plainCitation":"(Kotler & Armstrong, 2010)","noteIndex":0},"citationItems":[{"id":2765,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"itemData":{"id":2765,"type":"book","title":"Principles of marketing","publisher":"Pearson education","ISBN":"0-13-700669-1","author":[{"family":"Kotler","given":"Philip"},{"family":"Armstrong","given":"Gary"}],"issued":{"date-parts":[["2010"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Kotler & Armstrong, 2010). Marketers are especially interested in knowing this process and the possible factors behind this process. This enables businesses to determine the requirements of consumers and markets and produce products accordingly. McDonald's is among the famous fast-food restaurants that can be approached from anywhere in the world. Its consumers also show specific behavior while making purchases.

Furthermore, the number of factors affect this consumer behavior such as psychological, social, cultural, personal and economic ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"k5LTKLY0","properties":{"formattedCitation":"(Kotler & Armstrong, 2010)","plainCitation":"(Kotler & Armstrong, 2010)","noteIndex":0},"citationItems":[{"id":2765,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"itemData":{"id":2765,"type":"book","title":"Principles of marketing","publisher":"Pearson education","ISBN":"0-13-700669-1","author":[{"family":"Kotler","given":"Philip"},{"family":"Armstrong","given":"Gary"}],"issued":{"date-parts":[["2010"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Kotler & Armstrong, 2010). For example, consumer behavior is socially affected by consumer's family, reference group and his roles and status. A family can force the consumer to purchase a specific product from McDonald. Moreover, in today word peer pressure also matters a lot. Consumers like to have those items or products that their peer also like. This trend is also gone higher due to the increased use of social media by today generation. This factor is also responsible for increasing sales and giving the company a competitive advantage.

Moreover, in the context of psychological factors, his beliefs and attitudes towards specific product also make the purchase. Psychological factors specifically affect the buying decision behavior of consumer ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"l1vJXF6L","properties":{"formattedCitation":"(Kotler & Armstrong, 2010)","plainCitation":"(Kotler & Armstrong, 2010)","noteIndex":0},"citationItems":[{"id":2765,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/L65CNSMZ"],"itemData":{"id":2765,"type":"book","title":"Principles of marketing","publisher":"Pearson education","ISBN":"0-13-700669-1","author":[{"family":"Kotler","given":"Philip"},{"family":"Armstrong","given":"Gary"}],"issued":{"date-parts":[["2010"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Kotler & Armstrong, 2010). "The amount of time dedicated to this step usually depends on the consumer's experience with buying the product, the risk involved and the level of interest" ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"AcWranuN","properties":{"formattedCitation":"(Stankevich, 2017)","plainCitation":"(Stankevich, 2017)","noteIndex":0},"citationItems":[{"id":2764,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/2HJMASPE"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/2HJMASPE"],"itemData":{"id":2764,"type":"article-journal","title":"Explaining the consumer decision-making process: Critical Literature review","container-title":"Journal of international business research and marketing","page":"7-14","volume":"2","issue":"6","author":[{"family":"Stankevich","given":"Alina"}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Stankevich, 2017). McDonald's has an established brand worth that entices consumers to produce more and more different kinds of food items with delicious taste.

Thus, marketers should keep in mind these factors while devising different marketing strategies. If any advertisement clicks consumer emotion, then there are greater chances of sales. Analysis of all the factors concerning products is a source of the increase in sales and long term profits for the company.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Kotler, P., & Armstrong, G. (2010). Principles of marketing. Pearson education.

Stankevich, A. (2017). Explaining the consumer decision-making process: Critical Literature review. Journal of International Business Research and Marketing, 2(6), 7–14.