Based on the survey I found that a majority preferred Coca Cola over Pepsi. The consumers that preferred Coca Cola were influenced by the products taste. Both Coca Cola consumers as well as Pepsi consumers were loyal to their product of preference.
Some consumers use an intense system of thorough investigation before they decide to purchase, while others are basic impulse shoppers. Either way, three factors affect all purchasing decisions.
Retailers should be familiar with the impact each factor has on the minds of consumers. A thorough understanding of the interdependency of each factor will help you market your inventory better, attract more customers and close more deals.
Apple, Inc. They knew the emotional hot buttons. So did the net worth of Steve Jobs, a hard-charging and creative businessman who understands the consumer. If you want a better understanding of how consumers act, implement these three factors into your marketing and sales plans: The Economic Factor — This is the foundation of a purchasing decision.
This practice has led to the special finance market and a struggling mortgage industry, and it has you reading this article. In our business, the economic factor is represented in the terms of down payments and monthly payments.
To stay off that road, focus on the other two factors first. The Functional Factor — The functional factor is all about needs. That being said, the functional factor is perhaps the most important of all three when it comes to special finance. A dealer must set the customer up for success and not for failure.
A dealer with a strong special finance program is able to weave logic into the equation and convince the customer to do what is in their best interest by taking time to learn and understand their needs first.
Then, when you introduce the logical choice later in the sale, your customer will be more apt to follow your advice and direction rather than seeing you as just another fast-talking salesperson.
The Psychological Factor — All effective advertising appeals to emotion, or the psychological side of the sale. The psychological factor is all about what the customer wants. One effective method that I recommend is to show the customer the merits of establishing or re-establishing a positive credit score.
To be effective, you have to build the vision of an easier life for them with good credit, and then, get their buy in. Personal image is also an important emotional hot button. Having an iPhone is a social statement. Likewise are having a nice car and home.
Image, fear, wants and dreams are all powerful emotional forces that drive the decision to buy. If used in a timely fashion, they will be the forces behind higher down payments and profit.
Special Finance Insider Vol.Factors that influence the consumer decision process. words (12 pages) Essay in Marketing. Coca-Cola has done extensive research on consumer buying decision, to answer questions like what does consumer buy, where they buy, how they buy, how much they buy, when they buy and why do they buy a product, for this question to reorganize the.
Recommendation provided by Yayra Consulting firm for the Coca Cola Corporation and Pepsi Corporation is as follows:Based on the survey I found that a majority preferred Coca Cola over Pepsi. The consumers that preferred Coca Cola were influenced by the 4/5(2).
Research Papers. The Effect of Consumers on Other Stakeholders When Using the Products of the Organization - The Effect of Consumers on Other Stakeholders When Using the Products of the Organization By consumers shopping at supermarkets it pollutes the environment and damages human health The biggest single threat to life on earth is global.
This statistic shows the results of an online survey conducted by the National Coffee Association (NCA) from January 9 to January 23, U.S.
survey respondents were asked what kind of. Free consumers papers, essays, and research papers. The Coca Cola Company limited is viewed as one of the world’s biggest beverage companies making it the top producer and marketer of quality soft drinks. Coca Cola faces a lot of competition in the market from companies such as Pepsi forcing them to go over budget each year on production.
Factors Influencing Consumer Buying Behaviour of Research report in partial fulfillment of the requirements for the degree of Online Master of Business Administration UNIVERSITI SAINS MALAYSIA ii ACKNOWLEDGEMENT First and foremost, I would like to thank my supervisor Dr Nabsiah Abdul.