Saturday, February 8, 2020

Consumer Behaviour Essay Example | Topics and Well Written Essays - 3000 words - 5

Consumer Behaviour - Essay Example the report is limited to the discussion and analysis of psychological and consumer environment factors and their impact of consumer purchasing decision of Red Bull energy drink. The case study of Richey & Michaels (2001) has been used to study the various marketing activities and strategies of Red Bull. In consideration to the consumer behaviour models and theories, the marketing practices of Red Bull have been discussed. In the first section, the consumer decision process has been discussed. In the second section, the impact of psychological core factors on consumer decision process has been studied and in the last section, the impact of consumer environment factor on consumer decision process has been discussed. As shown by Schiffman & Kanuk in the model of Consumer Decision Making, the three steps are very important in decision making process. These steps shape the psychological core factors of consumers, which directly influence the decision of the consumer; therefore, the three steps are very important for the companies to influence the consumer behaviour. A consumer recognises a need when he faces a problem. For example, the need for a drink may arise when an athlete has exhausted after playing a game, a spectator in the audience is lacking energy to fully participate in the concert, a truck driver is staying at the rest area on highway after long driving, a working person is back home from office, a student is lacking energy to keep a pace in studies etc. Out of the two states of consumers for problem recognition including actual state or desired state, the need for a drink will be the desired state of the consumer. After recognising the need, the repurchase research beings, if the consumer perceives that purchasing or consuming a particular product can satisfy his need. In most of the decision making process, the consumer recalls his past experiences however, when the consumer does not have any prior experience, he may need to conduct an extensive

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