Table of Contents

Introduction. 2

Discussion. 2

Part 1. 2

Individual decision-making factors for consumer purchase habits. 2

Group decision making factors for consumer purchase habits. 3

Theories related to consumers purchasing behaviors. 4

Part 2. 5

Personal consumption types. 5

How my consumption habits have changed over the years. 7

Part 3. 8

Recommendation to the advertising agencies regarding the consumption activities. 8

Conclusion. 9

References. 10

Appendix. 12

Appendix 1: consumption journal 12

Introduction

The study assignment will discuss the consumer behavioral patterns emphasized by the consumers, both regional and global basis. The consumer buying behavior is subjected to change based on their overall buying pattern and brand preferences. In the first part, the discussion will be made over the consumer buying decisions making prospects both in case of individual and group decision making styles along with how the process can effectively look to influence the people over decision making. In the second part, the personal consumer decision makes criteria and how the same engages into the decision making aspect. The third part will address specific recommendations to an advertising agency based on consumer activities, followed by a conclusion.

 Discussion

The answers to the questions have been addressed in the discussion part.

Part 1

Individual decision-making factors for consumer purchase habits

The individual factors to the consumers can strongly influence the overall buying behavior of the customers. However, these factors can vary up to different individuals that can result in different sorts of participation, attitudes, and behaviors towards specific brands or certain goods or services (Sultan et al.2019). These factors are as follows-

Source: https://businessjargons.com/personal-factors-influencing-consumer-behavior.html

Age:

The trade performance of the consumer is highly influenced by his age or the life cycle under which he goes through. The people have different buying habits of products based on diverse stages of their life cycle. For example, acquire of confectionaries, chocolates more when the human being is a young person, and the more he grows up, his tastes and choices change up to a particular context (Ganai et al.2019).

Income:

The takings of the consumer strongly affect his business pattern. The profits decide the purchasing authority of them, individual. Thus, the more personal bearings, the more expenditure on the items or vice versa can be charged in this regard (Yuan et al.2019).

Occupation:

The individuals’ occupation can also influence the overall buying behavior of the consumer. Hence people be liable to buy those harvest and services that can profoundly affect their profession as well as to their role towards society. For example, the lawyer’s business pattern will be diverse from the people of other groups like a physician, coaches, manufacturers, etc.

way of life

The overall existence also leads to prejudices of consumer trade behavior by the consumer himself. This means working on the person’s notice, standards, options, and activities as a whole. All these aspects can deeply reflect on the manner of the society he lives. For example, if a person is leading a healthy existence, then he always tries to avoid fast food and tries to consume more of the whole products (Hossain et al.2019).

Hence these are some individual factors that forcefully impose influence on the different purchase habits. The marketer is consequently required to study all these aspects before carefully designing the overall advertising drive (Kumar et al.2019).

Group decision making factors for consumer purchase habits

Apart from the aspect of individual influences, certain grouped factors initially influence the consumers to make an effective purchase decision. There are different aspects like membership of subculture, brand communities, social media influencer, or even celebrity endorsement, which also plays a vital role in making purchase decisions. These are discussed as under-

Membership of subculture

Ethics, morals, customer values, and different arts and habits can also provide a practical perspective to make consumers purchase decision-making. The overall behavioral pattern based on the cultural aspects is dominant and indicates the driving sub-cultural force for making purchase decisions. Hence the identification is provided based on the segment of the market on which they can develop the aspects. The advertising prospects have, in this case, directed towards the consumer value preferences (do Paco et al.2019).

 Brand community

The brand community refers to a particular virtual community that can effectively facilitate consumer interaction. The same aspect is maintained with the overall customer perspective, consumer, market, product, and relationship. Hence the brand community looks to bring new platforms to interact with the customers regarding an exchange, discuss, or product complaints. Furthermore, it becomes a new channel to advertise and promote the overall products in an effective way. This type of platform can look to create consumer behavior patterns, and researchers have also paid for this idea (Hossain et al.2019).

Family and peers

The everyday purchases also look to create individual brand preferences in this regard. It is seen that if any family is purchasing any product over the last few years, then it can be said that the same product has created specific brand preferences among the family. For example, if the whole family is using Colgate toothpaste for many decades, they will continue to buy the product over and over again (Ringim and Reni 2019).

Celebrity endorsement

This also creates an impact on consumer buying behaviors. It is seen that if any favorite celebrity is giving advertisements regarding the use of a product, then regardless of the quality of the product, people will look to buy the same since the star has himself created individual brand awareness based on the overall outcome (Agarwal 2019).

Social media engagement

The companies sometimes use social media platforms like YouTube or Instagram to showcase the overall features of any product; hence despite the quality and specification, the consumers used to buy that product since they think based on product popularity.

Theories related to consumers purchasing behaviors

There are different sorts of theories that effectively discuss the consumer buying process. These models explain individual decision making and the group decision making for purchase. The overall purchasing decision, post-purchase attitudes, and objective utility can enhance the global market for creating an effective campaign in this regard (Abbasi et al.2019).

Theory of reasoned action

As per this theory, the critical decision-making process can be implemented. Here a consumer can only take confident specific decision making based on the overall activity from which an equally precise decision making can be done. The consumer decides effectively to act to the time when the work is completed, and the consumer can change their mind in terms of their individual or group purchase decisions. For example, if the family switches over from buying Colgate toothpaste to pepsodent, then obviously, the whole purchase scenario will be changed effectively based on this theory (Lal et al.2019).

EKB model

The purchaser can act as a rationale, and all these aspects can profoundly influence their overall decision making aspect of the products and services as a whole. The process variables and its external environments can effectively try to change the consumer decision-making process based on consumer envisions (Jadhav and Chavan 2019).

Part 2

Personal consumption types

Being a consumer, it is quite evident that I have my sort of consumption types for products and services.  There are e different types of consumption activities like symbolic, vicarious, ritual, utilitarian, hedonic, and conspicuous. However, I understand that all these effective types of consumption activities have been widely engaged in different kinds of consumption techniques (Radha 2019).

The concept of symbolic consumption refers to the meanings conveyed to the goods and services such as entertainment, leisure activities, cultural practices, and grouped membership prospects. Hence, it reminds me of socially assigned goals based on specific contexts and thus, based on the significant significant likelihood of goods across the world. This process can most likely incline on what people can buy, use, and display. Therefore this is typically based on the consumer types.

Furthermore, I also understand the concept of vicarious or conspicuous consumption, which I feel is also an essential key for understanding classical and symbolic- economic thinking perspectives. I look to find the changes that occur through the aspect of intricate symbolism and putting importance over buying luxurious items as a whole. This process is close to the Veblen effect where the context of money wastages is, namely, a sign of economic surpluses, and thus, they both become desirable to the extent (Korkmaz 2019). Furthermore, from my purchase decision making, I have sometimes fallen onto fantasies and emotions while purchasing. Hence this is something on which my mind tells me to treat myself with this product. For example, when I have good money, I will buy my dream car or go on a foreign trip. This is considered as an emotional piece or pleasure as well as it will provide me an immense level of satisfaction as an individual.

On the other hand, utilitarian consumption will meet my basic needs like food, clothing, or medical facilities (Pícha and Navrátil 2019). This need is based on society’s perspectives, and apart from all these requirements, these include the use of computers, television, and other needful items. Hence I feel that both these types of consumption aspects can provide me satisfaction from different levels (Ismail 2019).

Hence being a consumer, I feel that I need all these aspects in different points of time in my life, and that’s what makes the buying and consumption decision getting successful as a whole. For example, to lead my life fully and happily, I require the necessary amenities as well as sometimes entertainment as well. The essential requirement for the consumer is food, water, clothes, and shelter, which people buy according to their needs. Similarly, as a consumer to service, I also buy foods, clothes, etc. to meet my requirements. Hence I can say that this need can be considered as functional needs.

On the other hand, in my free time, I can also visit places or even buy a movie ticket. Thus this need is also required for me to step aside from hectic schedules and for refreshment as well. Hence, in this case, these needs for me are classified as hedonic needs. Furthermore, I also enjoy different types of cultural practices or some sort of leisure activity to keep myself happy. Hence I can relate this type of consumption to the symbolic needs of waste (Misra and Mukherjee 2019).

Factors that influenced my consumption

As a consumer, I feel that my consumption point is highly dependent upon specific objective and subjective factors. These are addressed below-

Objective factors

The primary objective factors are as follows-

Interest rate

I understand that savings are directly dependent upon the investment procedure where the concept of rate of interest can increase, and consumption will fall. Hence if the interest rate is high, then I can easily limit my use of foods and vice versa. Therefore I might showcase volatility in the process of consumption to save more. Thus it can affect my spending directly.

Salesforce

The advertisements can also influence me highly to go for buying. Thus it can quickly increase the demand for the product and services. Therefore, being a consumer, I can easily get driven away by the product, which can effectively shift my consumer demand procedure from one product to another.

Price change

The changes can profoundly influence me in price, and thus in can try to move from towards different products. Hence relative price changes can profoundly affect the aggregate consumption process.

Wealth volume

Wealth volume is also a significant factor in the consumer money holding process. Hence I feel that this can showcase a mere change in the product I would like to consume. Thus in the time of composition, the total wealth of people may affect consumption. For example, in the case of unemployment or financial crisis, people use to limit their consumption of products and try to save more in this regard.

Other than that, I see certain subjective factors where people’s dominant attitude towards the process of consumption can try to increase up to a specific price level. Hence, in the upward movement of the product price, all these aspects can eventually grow up an aggregate consumption.

How my consumption habits have changed over the years

Being a consumer, I have faced specific effective changes that have changed my consumer values in the last several years. Hence in this way, the people have been effectively used to meet the shops which are unrecognizable. Thus the most techniques have created a significant impact on shopping habits and convenience to be changed in recent times. Hence my recent change in the consumer habits has dependent upon current factors-

Online shopping

The introduction of online shopping has recently evaluated my buying habits. Hence I can easily shop online from different websites in comfort at home rather than physically being present in the stores. Therefore I can get the product delivered online, and this process is more convenient, and I feel that being a consumer, I can also shop from retail stores around the globe. Hence i can find the different enabled procedure to browse the best deals and showcase different items in this regard.

Physical stores

There are different sorts of changes I have seen in my consumption habits. Thus the physical stores have made specific brick and mortar technologies to the business. Unlike me, most of the consumers have come to shop and touch the products. Hence, the integration of techniques has helped me to integrate artificial intelligence, which has helped me meet the customer experience in the coming years. Thus I feel that all these aspects have helped to change my consumption needs as a whole.

Furthermore, it can be said that different customers has very quickly embraced technology that can make me enhance the overall shopping experience and retailers that have led to altering the model drastically to survive. Hence I feel that all these factors have helped to meet the near future and significant business factors as a whole.

Part 3

Recommendation to the advertising agencies regarding the consumption activities

Access to information has radically changed the overall consumer behavior. Hence from the advertising point of view, it can be said that the global consumer behavior, it can be said that the process is based on the one-way message to the smiling faces. Hence it can be said that advertising is dead, and it can be said that the overall advertising can be undoubtedly considered as a powerful tool. Thus it can be said that the process can try to drive the industry forward. However, there is a further recommendation that can decide to make new changes that can analyze certain dominant generation aspects (Kumar 2019).

Key performance indicators from marketing to business focus

Different wrong matrices can rarely meet them demanding to its metric associated with the correct responses from growing the probability and revenue valuation. It can be said that the surveys have effectively measured advertising recall. But it can be said that the significant wrong decisions have showcased the engagement to correlate the sale procedure. For example, based on the key performance indicators from something campaign that has adequately focused on the commitment to meet the overall business metrics as a Whole. Hence there are individual differences that can try to deliver the influencing consumer values as a whole.

Brand experience to simplify the consumer lives

To contradict the diminishing role of advertising, it can be said that the marketers than advertisers can look to meet the significant touchpoints to provide considerable customer values. Hence it can be said that the thins slice can try to experience the elevation process to meet the granular moments that can be effective to the customers as a whole. One such experimental factor can try to slightly make the process more convenient that has made the offered by the competition. Furthermore, the checks in kiosks have been more significant and more comfortable. Also, overall stock cards can try to create certain purchase factors.

Moreover, it can be said that the process can try to understand the on-demand food ordering tom remove the significant annoyance of product cards. Hence it can try to create a superior experience. It is thus based on the customer preferences of the advertising agency. Therefore from the movements can try to provide convenience to the customers, and these aspects can decide to make marketing messages for the people in this regard (Yusuf 2019).

Educational platform

Hence rather than focusing on entertainment and humor, it can be said that the process can try to shift an educational platform for the customers. Thus the audience about specific personal benefits provided by the products or this can work to educate the audience about the critical factors in the industry and authentically associate to brand the product image. On the other hand, the empowering process can try to imply the few emotions can try to influence empowerment. Hence to create an emotional platform to meet the increased revenue. Therefore to form the overall educational platform, there can try to generate experience the consumer valuation to reach the total business authenticity based on the business as a whole. Hence these authenticities can try to improve the audience’s cost (Balasubramaniann and Soman 2019).

Moreover, it can be said that enormously powerful can try to improve the disservice by implied the overall rewarding the major business components to meet the marketing dollars on projecting an image through the advertising techniques to missing an opportunity for differentiation and try to provide the investment procedure. Hence all these factors can play a considerable role in meeting customer preferences based on advertising (Agarwal 2019).

Conclusion

Hence from the overall report, it can be concluded that consumer buying behavior is generally dependent on different sorts of consumer activities and the global consumer buying decisions. The individual and group factors have addressed immensely to understand the critical decision-making process. The symbolic, vicarious, utilitarian, or hedonic consumer behavior have addressed different purchase aspects based on consumer requirements. Furthermore, the theories have suggested meeting the consumer differentials and the primary recommendations to advertising agencies.

References

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Appendix

Appendix 1: consumption journal