Assignment on the Products that you have recently bought

Everyone loves shopping and buying out new things, this kind of shopping can be due to any reason or because of fun. There is a different age group that lives in a society and I believe that every age group has their own taste or choice in shopping and their behavior for the buying of products also vary from one person to the other. Here in this report we are going to study about some of the effects that are depending upon the shopping or one can say buying new products. Everyone gets excited by the word shopping because this is the way through which many people feel that they divert their attention from the daily routine which can makes them stressed out. So shopping is like a fun activity. But as the choice of every person is different same is the case with the behavior that seems to get after buying out any product. Here in this report I am going to share out my personal experience that I have been through while doing shopping and then what were my effects or behavior after buying the product. This is the report that will discuss each and every factor in detail.

But before starting out, here I am going to write or share my shopping journey from which I have been through. As we all know that what kind of situation is going through. We have been in such a pandemic situation where it is not safe at all to go out and shop like as we used to. But obviously it’s been such a long time and at some point, or the other, everyone have to buy any product. So recently I have bought a top as I love having lots and lots of clothes and believe that a person can define their personality by dressing up in a well-mannered and appropriate way. Through proper dressing one can give a positive or negative impact on the other person. So, therefore I always feel like dressing up in an appropriate way to make myself look presentable and decent. Coming back to the list of products that I have bought, so as I mentioned above, I bought a top that was stitched and it was just a trendy top like which can be used anywhere and at any moment. It was not so simple not so fancy; I can wear it with heavy makeup to enhance its worth. Well I bought the top and I really liked it, the color combination and the slight embroidery it has on it. All these factors make it more valuable but another major factor for buying that top was that it was on sale and when the word sale comes it ultimately grabs the attention of different customers and I was the one. Although I didn’t need it but when I saw the sale word on it and that was 50%, I didn’t think for a while and ordered it for myself as I liked it already. Another product that I bought by making its combination with a top and it was a beautiful necklace that had pearls on it with a shiny look. That necklace was also on sale at almost 40%. I also bought the necklace online from the same website from where I bought the top.

2 products that I recently bought are: Top and the necklace

Pre purchase analysis of Products that you have recently bought

Pre purchase analysis is about gathering the information regarding the purchase. When a customer realizes his/her needs, they go for searching the information regarding the need. Most of the consumer do so because they want to make a perfectly right decision about their purchase. They look for; product brand, product variations, quality and product alternatives before going to purchase the actual product. The target customer gathers the information regarding this according to which age range they belong or their gender, education or the price and acceptance of the product.

Now a days, the most common challenge that has to face by the marketers are to identify what actually customer buy and what they don’t buy and when and why they buy some product. This information regarding the consumer is difficult to get but is very crucial as it will help in future to identify what matters most to the consumer and what effect the consumer most at the moment of their purchase decision. Marketers create their marketing programs according to the information about consumer behavior and their pre purchase decision, marketers make their strategies according to the need of the consumer.

There are number of internal and external influences according to which consumer have made their self-concepts. They don’t just make their buying decision randomly, but they are strongly influenced by some factors. The decision making of the purchase of the consumer is triggered when needs and desires of them are encountered with some situations. Marketers need to identify those internal and external factors that impact the consumer buying behavior. Because without knowing those factors it is not possible to serve the consumer in an appropriate way.

External factors of Products that you have recently bought:

External factors that can contribute in consumer buying behavior are their culture, social class, their reference group and their family.

Culture – the large group of people with similar heritage are categorized in a single culture. Marketing strategies most of the time target those people whose cultural heritage is more important to them. They make products according to that which seems to increase their traditional values. There are three components of the culture; belief, values, customs. Belief include personal reflects of the person’s knowledge and judgment over something, values generally influence the belief. Values help individual to chose alternatives in life. While customs are the behaviors in way of tradition toward specific conditions, like taking mother out for the dinner r buying present for her.

Social class – social class could be evaluated through occupation, income, education or prestige. These all effect the consumer buying behavior. The best classification in our society is upper-upper, Lowe-upper, upper-middle, lower-middle, upper-lower and lower-lower classes. The massive market is constituting of mainly lower-middle and upper-lower classes. People who belongs to same social class often behave same in attitude, they dress alike and mostly shop at same types of brands. When marketers are making and targeting a class, they need to meet their expectation according to their class in terms of atmosphere, quality of the product and the service that they will give to the customer.

Reference group – the individual attitude and behaviors toward shopping is shaped by their reference group. like formal and informal. A particular consumer could belong to a club, church, school etc. opinion leaders are those persons who influence others so they are commonly called as reference group. like a local high school teacher could be an opinion leader to parents while they are selecting institute for their kids. These kinds of people are trend settlers. Marketers when identified the opinion leader in the target market then they can make efforts to directly attract those individuals

Family – it is one of the most important reference group for anyone. Consumer attitude is greatly affected by the family. Buying behavior is impacted by the relation ship between husband and wife or how many and what age children they have. Like in some case husband is the dominant one, so decision is made according to his desires. For example, the clothing purchase of teenagers is impacted by the opinion of teenagers themselves. So, marketers in this case need to identify the key member of the decision-making process

Internal influences: Marketers also need to identify the internal factors that influence the buying behavior of the consumer. Following are those internal factors;

Learning and socializing – change in behavior because of the previous experience is termed in learning factor. But his factor does not contribute toward instinctive responses, growth or the temporary states like fatigue, hunger or sleep. Learning is always an on going process that is always dynamic. There is a type of learning that is known as nonexperiential learning where you just read or have indirect experience for example you want to purchase a wine bottle. You ask the sales person to taste is and tell you about it. He tastes and tell you about it that it tastes like ginger ale. You don’t like ginger ale so you will just now buy it. So, you learn something without having the direct experience. There comes the importance of opinion leader who tells other about the product in the market and their benefits so other will have that nonexperiential learning. In socializing, individual learn about the product by social interaction, reinforcement or modeling.

Motivation – the motivation is an inner driving force or the pressure to take some action in order to satisfy a need. Is the individual being goal oriented, he is also motivated person. Some goals are positive and some are negative. But in all cases their must be a stimulation to a high level where it can serve as a motive. Market manager need to identify those motives and attitudes that are influenced in some specific condition where consumer will get in problem solving behavior. Personality of the person is summarizing all the traits that person own. Two people can’t have same trait. A person could be introvert or extrovert. Introvert is withdrawn from others and inner-directed person while extrovert is outgoing and assertive.

Lifestyle – lifestyle is new emerging factor that is studies widely in order to understand the consumer buying behavior. The attitudes, interests and desires of the potential customer is termed in his own lifestyle. Like interest in crafting, attitude toward feminist or role of women in society or opinion where the importance of the dressing well matters, they all can be used by the marketers to understand the behavior of the consumer. Consumer shopping orientation reflect its lifestyle directly. Everyone has different concept abut shopping. When people find out different alternatives, how they are going to choose between them. Like how will people choose between different brands for buying the product. Attitude traditionally divided into; cognitive, affective and behavioral. A large area of marketing is related to these components of attitudes. Attitude can always help marketers to understand that how choices are made. But checking out the validity of attitude-behavior relationship is important for each condition and relevant product.

Post-Purchase Behavior of Products that you have recently bought

The Post-purchase behavior is referred to the phenomenon in which the customer analyses that whether he or she is having a satisfactory vibe or not with the purchase he/she made.

The feeling of a customer regarding the purchase will create a huge impact whether he or she will go for purchasing this product again or take their brand under their consideration within the repertoire of their brand. A customer will further be in a position to impact on other customers decision of purchase due to a main reason that he or she will feel compelled to discuss their feeling about the purchase they made.

Another type of buyer’s remorse which is known as Cognitive dissonance is quite common at this stage. This is situation in which the customer has high chance of going through feelings of post-purchase psychological tension or a type of anxiety. For instance, the customer might be feeling anxious to ask whether his decision about the purchase was right or wrong. They can also be put under the influence of advertisement of a competitive or brand which can create a higher risk of putting them in a contemplating position. A wide chance also occurs in which the customer might have a change of mind and goes into not using the production or deciding against the act to use it. Some organization now tries to involve themselves in a communication with the consumer with the help of post purchase mechanism which is a form of an effort to force their feeling regarding the purchase and purchases which are expected in future. Another trick of offering a cash back guarantee may also increase durability and acceptance of a product in the customer heart and enlighten post purchase communication among the consumer and the retailer. Other type of steps involves providing VIP invitations to be a part of club or special community further it also involves when a buyer is inquired about their contact details which can be further used to selling their products and developing a relationship by offering customer feedback after the purchase has been made. This process might provide assistance to influence or alleviate feelings of cognitive dissonance or “buyer’s remorse” following a product purchase.

 Post-Purchase Evaluation of Products that you have recently bought

At the last level of the five levels of decision-making process of consumer, the process of buying a product is finished, A purchase has been processed by the customer, but this doesn’t indicate that the journey of the customer has come to an end. Now is the situation when the reflection of opinion arises on the mind of the customer on whether he has made a better decision or not.

The customer will put it into account if the solution correctly and accordingly fulfills the criteria of needs. They will further analyze that if it was according the cost and if the delivered product is based on the brands promises. They will take two ways which is either satisfactory route or buyer’s remorse. If it’s the former, there is clear chance that the customer might comeback in order to make another purchase, but in case it is the latter, the customer have a high chance of rejecting the brand, never making another purchase with the same company, and even the negativity of the experience they went through with other probable consumers.

Learning process in purchase pattern of Products that you have recently bought

Change in behavior because of the previous experience is termed in learning factor. But his factor does not contribute toward instinctive responses, growth or the temporary states like fatigue, hunger or sleep. Learning is always an ongoing process that is always dynamic. There is a type of learning that is known as nonexperiential learning where you just read or have indirect experience for example you want to purchase a wine bottle. You ask the sales person to taste is and tell you about it. He tastes and tell you about it that it tastes like ginger ale. You don’t like ginger ale so you will just now buy it. So, you learn something without having the direct experience. There comes the importance of opinion leader who tells other about the product in the market and their benefits so other will have that nonexperiential learning. In socializing, individual learn about the product by social interaction, reinforcement or modeling.

Five stages are included in buying pattern of the consumer;

Problem recognition – this step help consumer to identify the need and what he wants. It could be internal or external or maybe based on situation. This step is also commonly known as pre purchase analysis. When a consumer evaluates some need it could be an internal stimulus like need to have a new TV. On the other hand, sometimes marketing strategies make a person to choose between different brands of the TV. They are the external stimuli. These are always stimulated by some advertisement while on the other hand internal stimuli is some genuine need of the person.

Search for information – after identifying the need, consumer start to search for information in order to address the issue. It can be through internet or family or friend. They mainly effort to search for alternative that could be less expensive

Evaluation of alternatives – after researching, consumer have several options for a particular product. Now he evaluates all the options that are available. They decide the product type and brand.

Final buying decision – it involves the consumer decision about the purchase of the product that whether he is going to buy or not. It also includes from where and when and how to pay for the product.

Post purchase analysis – this step involves the analysis after the purchase. This is crucial state and cannot be ignored by the marketing team. This stage should be viewed positively by the consumer because poor products will get returned or viewed negatively and can affect future purchase of the product.