Characteristics that Affect Consumer Behavior and the Decision-Making Process
Describe and explain the characteristics that affect consumer behaviour and outline the consumer decision-making process as it relates to a product of your choice.
Section 1 Introduction
“Today’s market is characterised by highly competitive organisations which are all vying for consumer’s loyalty. Firms are faced with the challenge to maintain their own competitive edge to be able to survive and be successful. Behind the visible act of making a purchase lays a decision process that must be investigated. The purchase decision process is the five stages a buyer passes through in making choices about which products and services to buy” (www.rohan.sesu).
This report will focus on the characteristics of the decision making process relating to Mascara. Mascara is a cosmetic used on lashes to darken, lighten, thicken or define the eyelashes. The main competitors in the industry of mascara would be L'Oreal, Estee Lauder and Maybelline. However, companies come up with different formulas for their products. This is to distinguish each one from their own competitors in the cosmetic industry (www.eye-make-up-tops.com). Eye make-up including mascara, eye shadow, pencils and kholes accounted for 30.1% of the value of decorative cosmetic sales in 2007.(Key notes 2008). Mascara is the largest subsector, accounting for more than half of the value of retail sales of eye makeup (Key notes). The target group for the product mascara is aimed at young female students from the age of 16-25 looking for affordable good quality brand mascara. This report will also provide discussion on the characteristics that affect consumer behaviour associated with mascara. This report will also discuss the consumer decision making process.
Section 2: The characteristics that affect consumer behaviour
“Consumer purchases are strongly influenced by culture, social class, personal and psychological factors. Marketers cannot control such factors, but they must take them into account”
Section 1 Introduction
“Today’s market is characterised by highly competitive organisations which are all vying for consumer’s loyalty. Firms are faced with the challenge to maintain their own competitive edge to be able to survive and be successful. Behind the visible act of making a purchase lays a decision process that must be investigated. The purchase decision process is the five stages a buyer passes through in making choices about which products and services to buy” (www.rohan.sesu).
This report will focus on the characteristics of the decision making process relating to Mascara. Mascara is a cosmetic used on lashes to darken, lighten, thicken or define the eyelashes. The main competitors in the industry of mascara would be L'Oreal, Estee Lauder and Maybelline. However, companies come up with different formulas for their products. This is to distinguish each one from their own competitors in the cosmetic industry (www.eye-make-up-tops.com). Eye make-up including mascara, eye shadow, pencils and kholes accounted for 30.1% of the value of decorative cosmetic sales in 2007.(Key notes 2008). Mascara is the largest subsector, accounting for more than half of the value of retail sales of eye makeup (Key notes). The target group for the product mascara is aimed at young female students from the age of 16-25 looking for affordable good quality brand mascara. This report will also provide discussion on the characteristics that affect consumer behaviour associated with mascara. This report will also discuss the consumer decision making process.
Section 2: The characteristics that affect consumer behaviour
“Consumer purchases are strongly influenced by culture, social class, personal and psychological factors. Marketers cannot control such factors, but they must take them into account”