Consumer and Buying Behavior Research Paper Example | Topics and Well Written Essays - 2000 words

Consumer and Buying Behavior - Research Paper ExampleMarketers are using different means to die the factors that affect the consumer behaviour of the target area market audience so as to ensure that their product mix is more often than non in tune with the needs and wants of the consumers. Marketers spend billions towards conducting surveys and reviews and to a fault try to analyse the obtain behaviour in order to capture the mindset of the customers and underline the aspects that help analyse the consumer behaviour of the target market audience. The present study would in like manner try to analyse the consumer behaviour of the customers for the online game Dragon Nest. The study would particularly try to analyse the factors that customers analyse time making the purchase finale for this type of a product. Literature Review Consumer behaviour is largely a psychological aspect that involves understanding the psychology and the thought process of the consumer undertaken in the minds of the consumer while making a purchase decision. Researchers often use the term determinants that are essentially independent variables that effect consumer behaviour. These factors include personality, income levels, level of education, lifestyle as rise up as peer groups and other social contacts. In addition to this situational aspects form the most important of the aspects that affect the consumer behaviour. Situational aspects include the physical surroundings as healthful as task definitions and the other physical aspects. These have a critical role in the thought process of the consumers and determine their needs and want and also determine the factors that are evaluated by consumers while making a purchase decision (Shaw, 2001, p.85-90). Figure 1 Determinants of Consumer Behaviour (Source Shaw, 2001, p.89) The process of purchase decision largely involves the steps of recognising the problem that is succeeded by searching information on the available options, attit udes and lifestyles of the consumers, aligning the information with the aspects of personality and lifestyles and behaviours and finally evaluating the various available alternatives and options available in the beginning them and making a final purchase decision. The behaviour and attitude towards a brand or a product does not end with the final purchase but also includes a post purchase evaluation. This is very important in the present competitive environment where the success of a firm not only comes from its ability to attract new customers but to also retain the existing customers. This aspect also assumes considerable significance in the online social networking board where reviews and feedbacks of peer groups are very pivotal in affecting the psychology of the new and potential customers (Kardes et.al, 2010, p.189). In order to deeply analyse the purchase decisions and consumer behaviour, the erosive Box exemplar of Consumer behaviour can be applied. The figure below shows the model in conceptual form. Figure 2 The Black Box Model of Consumer Behaviour (Source Sandhusen, 2008, p.240) The Black Box Model as illustrated above in Figure 2 largely proposes the mindset of the consumer as a black box seat and includes the characteristics of the consumer as