1. Executive summary This report aims to provide a mix review of theories and personal case study. I will apply two consumer behaviour theories in relation to my own purchase decisions. For the introduction, brief information regarding my purchase and the travel and tourism industry is presented. It was then followed by the explanation of the 2 chosen theories from two different chapters. Furthermore, I will explain the application of theory relating to me and my purchase. I will also review the marketing activity of the organization where I purchased from. This is to explain how the two theories have been used in the marketing strategy. In addition, recommendations regarding how the marketing strategy could have been improved by applying the 2 buyer behaviour theories are given. 2. Introduction 2.1 Introduction The high involvement product that I purchased was a Star Cruise travel package. This was purchased back in June last year when there was a Malaysian Association of Tour & Travel Agents (MATTA) Fair held in Kuching. I bought it under the travel agency called Borneo Exploration. Why I bought it is because my mum has been thinking of going travelling for a while. The package deal that was offered was a 3 days 2 nights cruise to Thailand and Langkawi from Singapore. 2.2 Industry background Travel and tourism is the largest industry as it a billion dollar industry. Malaysia currently acquired their biggest achievement of securing 25.7 million tourist arrivals last year which will contribute the millions of ringgit to the economy impact. 3. Decision of buyer behaviour theories The theories that I have chosen are word-of-mouth and Manfred Max-Reef theory. I feel that these are appropriate in relation to my purchase. 3.1 Wo... ... middle of paper ... ... and Engel, J. (2007). Consumer Behaviour An Asia Pacific Approach. Australia: Nelson Australia Pty Limited. 172. Lam, D., Lee, A. and Mizerski, R. (2009) 'WORD-OF-MOUTH COMMUNICATION AS HELPING BEHAVIOR', Journal Of International Marketing, 17(3), pp. 55-70 [Online]. Available at: www.researchgate.net (Accessed: 12 May 2014). Blazevic, V., Hammedi, W., Garnefeld, I., Rust, R.T., Keiningham, T., Andreassen, T. W., Donthu, N., and Carl, W. (2013) 'Beyond traditional word-of-mouth', Journal of Service Management , 24(3 ), pp. 294-313 [Online]. Available at: www.emeraldinsight.com/1757-5818.htm (Accessed: 10 May 2014). Robson, K., Pitt, K., and Wallstrom, A (2013) 'Creative Market Segmentation: Understanding The Bugs In Consumer Behavior', Journal of Public Affairs, 13(2), pp. 218-233 [Online]. Available at: www.swinburnedb.librarynet.com.my (Accessed: 17 May 2014).
Kotler P., Armstrong G., Saunders J., Wong V. (2002) Principles of Marketing, Pearson Ed.Ltd, pp.185-188
Solomon, M. R. (2009) Consumer Behaviour: Buying, Having and Being, 8th edition, New Jersey: Pearson Education.
The travel industry is one of the most important and largest industries in the world. Every day, millions of people travel to short distances and long distances for leisure or business reasons. The world economy relies on traveling, and the economic success of a country highly depends on the state of the travel industry in that country. The U.S. travel industry is the biggest in the world and can be used as a demonstration of the importance of travel market for developed countries. Also, generational differences are visible and can be demonstrated by the research of the travel industry, which can be used for further research in the sociological fields. In short, the travel industry is a very complex and multi-sided field with a lot of objects
Personal preference is another factor as some people prefer variety of goods whereas others prefer not having too many choices at all.
A large percentage of the international consumer behavior and market segmentation literature has focused on the most effective means by which consumers in multiple markets can be understood and those markets organized for successful operations. One of the assumptions in much of this literature is the existence, and increasing influence, of global consumers whose social and cultural differences are overshadowed by their similarities in terms of psychological consumer tendencies. This paper will explore the notion that consumers around the globe are becoming more similar in terms of psychological consumer tendencies. By showing that individuals in diverse markets may be demonstrating tendencies that suggest similar patterns of thinking in their roles as consumers, it should be possible to begin establishing empirical evidence for the existence of global consumers as well as insights into how this might affect both future research and managerial decision making in nondomestic operations.
Consumer behavior is the process consumers go through when they make purchases and it involves factors that influence their decision and usage. This study is conducted to understand the customer's behavior in buying the products from a particular large format departmental store by analyzing some details. What influences a customer in a purchase situation? Why did he purchase the specific product? Was it for price or quality? Did he ask friends or family for help in hiss decision? Did an ad catch his eye? Consumers are constantly evolving in their buying behavior based on their life situations. Consumer behavior is the process consumers go through when they make purchases and it involves factors that influence their decision
Farley, J. U., & Ring, L. W. (1974). “Empirical” Specification of a Buyer Behavior Model,
1) Hawkins, D. I., Best, R. J. & Coney, K. A. 2001. Consumer Behaviour: ,Building marketing strategy 8th ed 2) William M. Pride, (1985). O.C. Ferrell Co International Inc. (4th ed.)
According to Schiffman and Kanuk (2006), the authors expressed, products mean different things to different people and their basis for choosing a product relies on the overall satisfaction that derives from the purchase. Despite the strength of this statement, the opposing judgment on a consumer 's engagement with a brand derived from timeworn research into consumer attitudes before the development of social media marketing - whereby Fishbein & Ajzen (1980), studied the demand for a product, finding bearings in their research which portrayed such demand was influenced by the characteristics of the consumer. Although the statements suggested minimal differences, the overall point of parity derived by
Rousseau, G.G. 2007. Buyer reality: attitudes, learning, and involvement. (In Hughes, T., ed. Buyer behaviour: understanding consumer psychology and marketing. 4th ed. South Africa: Oxford university Press. p. 185-213).
Psychological factors: A person’s buying choices are further influenced by four major psychological factors: motivation, perception, learning, and beliefs and attitudes...
...nd Information Sharing (Word Of Mouth Communication) Research. Academy of Marketing Studies Journal, 10(2), pp.111-113.
Word of mouth is one of the fastest sources of transmitting the information and the mechanism best referred to for the successful transmission is the availability of social media through which various interactions among people take place which shape up the loop of communication about our surroundings and help in creation, share, exchanging information and ideas in virtual communities and networks. The importance of word of mouth is seen from its large scale effect that it poses on the making of customer perceptions about brands and is affected very quickly by communication. If the communication is effective, the more easily the
A consumer’s buying behavior is influenced by cultural, social, personal and psychological factors. Cultural factors have the broadest and deepest influence for consumers when making a purchase.
To effectively sell a product or service, organizations have to really know how customers behave, regarding to what they buy. The study