Online consumer behaviour
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The document discusses several aspects of online buyer behavior: 1. It discusses factors that influence buyer behavior such as marketing stimuli, other external stimuli, and the buyer's decision-making process. 2. It identifies three key determinants of online information search: trusted sites, the ability to compare brands and prices, and competitive prices. 3. It describes variables that influence online purchase behavior for web-enabled customers such as the source of product information and where the actual purchase is made.
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Copyright © 2016 Pearson Education, Inc. .docx
Copyright © 2016 Pearson Education, Inc. 7-*
Chapter
7
Analyzing
Business Markets
Copyright © 2016 Pearson Education, Inc. 7-*
Learning Objectives
What is organizational buying?
What buying situations do business buyers face?
Who participates in the business-to-business buying process?
How do business buyers make their decisions?
In what ways can business-to-business companies develop effective marketing programs?
How can companies build strong loyalty relationships with business customers?
How do institutional buyers and government agencies do their buying?
Copyright © 2016 Pearson Education, Inc. 7-*
What is
Organizational Buying?Business market
Consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others
Frederick E. Webster Jr. and Yoram Wind define organizational buying as the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers. Any firm that supplies components for products is in the business-to-business marketplace. More dollars and items change hands in sales to business buyers than to consumers.
*
Copyright © 2016 Pearson Education, Inc. 7-*
Business marketsFewer, larger buyersClose supplier–customer relationshipsProfessional purchasingMultiple buying influencesMultiple sales callsDerived demandInelastic demandFluctuating demandGeographically concentrated buyersDirect purchasing
Business marketers contrast sharply with consumer markets in some ways. The business marketer normally deals with far fewer, much larger buyers than the consumer marketer does, particularly in such industries as aircraft engines and defense weapons. Because of the smaller customer base and the importance and power of the larger customers, suppliers are frequently expected to customize their offerings to individual business customer needs. Business goods are often purchased by trained purchasing agents, who must follow their organizations’ purchasing policies, constraints, and requirements. More people typically influence business buying decisions. Buying committees consisting of technical experts and even senior management are common in the purchase of major goods. A study by McGraw-Hill found that it took four to four-and-a-half calls to close an average industrial sale. The demand for business goods is ultimately derived from the demand for consumer goods. The total demand for many business goods and services is inelastic—that is, not much affected by price changes. The demand for business goods and services tends to be more volatile than the demand for consumer goods and services. The geographical concentration of producers helps to reduce selling costs. Business buyers often buy directly from manufacturers .
Herbell straight forward jajkajajajjjgds
This document summarizes research on factors that influence consumers' online shopping behaviors. It discusses intention to shop online, online shopping decision making, and online purchasing. Key factors examined include convenience, time savings, website design/features, and demographics. The document also reviews a research model and theories of planned behavior that relate attitudes to intentions and behaviors. It analyzes data on respondents' gender, income, internet usage, interest in online shopping at Flipkart, and past purchasing behaviors. The majority of respondents were found to be female, with income between Rs. 10,000-25,000, having used the internet for 1-5 years and making purchases on Flipkart in the last 1 year.
Consumer behaviour unit 4
The document discusses several models of consumer decision making and buying behavior, including the Howard-Sheth model, Engel-Blackwell-Miniard model, and Nicosia model. It also covers the diffusion of innovations process and the adoption curve, as well as factors that influence e-buying behavior compared to traditional retail shopping.
THE INFLUENCE OF SOCIAL NETWORK ON ONLINE PURCHASING BEHAVIOUR OF CONSUMERS
This dissertation aims to explore the impact of social networks on online purchasing behaviour of consumers. This dissertation report commences by presenting a brief introduction about the social media and its implications, as a prerequisite to address the question whether Websites & its related applications like social media that can be considered as medium to influence online purchasing buying behaviour.
Cb research paper
The document discusses how internet marketing influences consumer behavior in online shopping. It explores factors that affect consumer purchasing decisions online like usefulness, enjoyment, consumer traits, situational factors, product characteristics, trust, and social media. The introduction outlines how the internet provides opportunities for marketers and consumers. Internet marketing can reduce costs and increase selection. Consumer behavior models are also discussed, like information search, evaluation, purchase, and post-purchase stages. Demographic and personal factors influence consumer choices.
Market Research Methods
The document discusses market research methods used by organizations. It defines market research as gathering, recording, and analyzing data about customers, competitors, and the target market. The DECIDE model outlines the market research process, including defining problems, collecting information, identifying alternatives, and evaluating decisions. Information can come from primary sources like surveys or secondary sources like reports. Both methods have advantages and disadvantages for obtaining reliable market intelligence.
Consumer Buying Behavior Part 1 of 2
Consumer buying behavior is the process by which consumers buy products or services to satisfy their needs and wants. In this first section there's information about: facts, statistics, buying process, consumer types, and level of involvement by the consumer.
When consumers make a purchase- they progress through a series of beha.docx
When consumers make a purchase, they progress through a series of behaviors. The consumer decision making process describes those behaviors and the activities that take place at each stage. In order to increase sales, marketers are looking at the five stages and trying to find ways to influence the consumers as they progress through the CDM process. The internet is the most recent tool that marketers are using to influence consumers. Discuss the impact of the internet on the five stages of the CDM process. What happens differently, or how does the internet use these processes to sell more efficiently?
Solution
CDM process:
Internet provides all the necessary information to the customer regarding a product or service. Thus, it plays a vital role in CDM process. A customer undergoes the following five stages before making a purchase.
Need Recognition.
It is the stage wherein the buyer identifies the need to purchase.
Internet induces the buyer to identify the need or it even creates the need for the buyer through advertisements.
Information Search:
This is where the buyer collects the information about the product or the service that he/she is going to buy. Various sources are available to the buyer they are family, friends, media, and internet.
Internet is the best of all sources in providing accurate results and on time.
Alternative Evaluation:
After the collection of information, the buyer would have various options to choose from. The buyer would compare the choices on the basis of price, attributes, features, color, shape, style, trend etc.
Internet helps the buyer by providing comparative and competitive advantages and disadvantages about all the products available. The customer could also get to read the feedback from customers who had already used the product.
Purchase Decision:
After analyzing the information with the available options, the customer finally decides to purchase a product that suits him/her. The customer believes that the product/ the service actually satisfy the need.
Internet plays a vital role in customer
.
An Analysis Of Factors Affecting On Online Shopping Behavior Of Consumers
This document analyzes factors that affect online shopping behavior of consumers. It reviews previous studies on this topic and identifies some of the main factors studied, such as perceived risks, infrastructural variables, return policy, subjective norms, perceived behavioral control, and attitude toward online shopping. The study aims to develop a more comprehensive model to examine the interactions between these factors and their compound effects on online shopping behavior. A survey was administered to 200 online shoppers in Iran to test the hypotheses and relationships between the factors. Regression analysis was used to analyze the results.
H03502040043
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
The papers for publication in The International Journal of Engineering& Science are selected through rigorous peer reviews to ensure originality, timeliness, relevance, and readability.
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Advanced Storytelling Concepts for Marketers
Every marketer knows you’re supposed to tell a story, but do you know how to tell a story? Do you know why you’re supposed to tell a story? Do you even truly know what a story is? While many marketing presentations emphasize the value of mythic storytelling, the nuts and bolts of actually constructing a story are never explored.
The goal of marketing may be to achieve specific KPIs that drive sales, which is very objective, but the top of the marketing funnel requires a softer approach. In our data-driven results-oriented fast-paced world, marketers must quantify results, but those results will never be achieved unless prospects are first approached with humanity.
There is a common misunderstanding that the so-called “soft skills” of marketing such as language and art are unmeasurable and subjective, but while the objective measures of market research are merely 100 years old, the rules of aesthetics have been perfected over the last 2,500 years.
Great story construction is a skill that requires significant knowledge and practice. This presentation will be a review of the ancient art of story construction.
We will discuss:
• Rhetoric – The art of effective communication
• The Socratic Method – You cannot teach, but you can persuade people to learn
• Plato’s Cave – You sell products, but you market ideas
• Aristotle’s Six Dramatic Elements – The secret recipe for marketing stories
This is for senior marketers who are tasked with creating effective narratives or guiding others in the process. By the end of the session, attendees will have gained the knowledge needed to work storytelling into all phases of the buyer’s journey.
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Key Takeaways:
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We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
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How to get AI to mention your content and your brandWhat Software is Used in Marketing in 2024.
This paper explores the diverse landscape of marketing software, examining its pivotal role in modern marketing strategies. It provides a comprehensive overview of various types of marketing software tools and platforms essential for enhancing efficiency, optimizing campaigns, and achieving business objectives. Key categories discussed include email marketing software, social media management tools, content management systems (CMS), customer relationship management (CRM) software, search engine optimization (SEO) tools, and marketing automation platforms.
The paper delves into the functionalities, benefits, and examples of each type of software, highlighting their unique contributions to effective marketing practices. It explores the importance of integration and automation in maximizing the impact of these tools, addressing challenges and strategies for seamless implementation across different marketing channels.
Furthermore, the paper examines emerging trends in marketing software, such as AI and machine learning applications, personalization strategies, predictive analytics, and the ethical considerations surrounding data privacy and consumer rights. Case studies illustrate real-world applications and success stories of businesses leveraging marketing software to achieve significant outcomes in their marketing campaigns.
In conclusion, this paper provides valuable insights into the evolving landscape of marketing technology, emphasizing the transformative potential of software solutions in driving innovation, efficiency, and competitive advantage in today's dynamic marketplace.
This description outlines the scope, structure, and focus of the paper, giving readers a clear understanding of what to expect and why the topic of marketing software is important and relevant in contemporary marketing practices.
Efficient Website Management for Digital Marketing Pros
Learn how to optimize website projects, leverage SEO tactics effectively, and implement product-led marketing approaches for enhanced digital presence and ROI.
This session is your key to unlocking the secrets of successful digital marketing campaigns and maximizing your business's online potential.
Actionable tactics you can apply after this session:
- Streamlined Website Management: Discover techniques to streamline website development, manage day-to-day operations efficiently, and ensure smooth project execution.
- Effective SEO Practices: Gain valuable insights into optimizing your website for search engines, improving visibility, and driving organic traffic to your digital assets.
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Don't miss out on this opportunity to elevate your digital marketing game and achieve tangible results!
Basic Management Concepts., “Management is the art of getting things done thr...
The managers achieve organizational objectives by getting work from
others and not performing in the tasks themselves.
Management is an art and science of getting work done through people.
It is the process of giving direction and controlling the various activities
of the people to achieve the objectives of an organization Management is a universal process in all organized, social and economic activities. Wherever
there is human activity there is management.
Management is a vital aspect of the economic life of man, which is an organized group activity. A
central directing and controlling agency is indispensable for a business concern. The productive
resources –material, labour, capital etc. are entrusted to the organizing skill, administrative ability
and enterprising initiative of the management. Thus, management provides leadership to a
business enterprise. Without able managers and effective managerial leadership the resources of
production remain merely resources and never become production. Management occupies such an
important place in the modern world that the welfare of the people and the destiny of the country
are very much influenced by it.
1.2 MEANING OF MANAGEMENT
Management is a technique of extracting work from others in an integrated and co-ordinated
manner for realizing the specific objectives through productive use of material resources.
Mobilising the physical, human and financial resources and planning their utilization for business
operations in such a manner as to reach the defined goals can be benefited to as management.
1.3 DEFINITION OF MANAGEMENT
Management may be defined in many different ways. Many eminent authors on the subject have
defined the term "management". Some of these definitions are reproduced below:
In the words of George R Terry - "Management is a distinct process consisting of planning,
organising, actuating and controlling performed to determine and accomplish the objectives by the
use of people and resources".
According to James L Lundy - "Management is principally the task of planning, co¬ordinating,
motivating and controlling the efforts of others towards a specific objective",
In the words of Henry Fayol - "To manage is to forecast and to plan, to organise, to command, to
co-ordinate and to control".
According to Peter F Drucker - "Management is a multipurpose organ that manages a business and
manages managers and manages worker and work".
In the words of J.N. Schulze - "Management is the force which leads, guides and directs an
organisation in the accomplishment of a pre-determined object".
In the words of Koontz and O'Donnel - "Management is defined as the creation and maintenance
of an internal environment in an enterprise where individuals working together in groups can
perform efficiently and effectively towards the attainment of group goals".
According to Ordway Tead - "Management is the process and agency which directs and guides the
operations of an organisation in realising of established aim
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Susan will present case studies illustrating AI's application in enhancing customer interactions across diverse sectors. She'll cover a range of AI tools, including chatbots, voice assistants, predictive analytics, and conversational marketing, demonstrating how these technologies can be woven into marketing strategies to foster personalized customer connections.
Participants will learn about the advantages and hurdles of integrating AI in marketing initiatives, along with actionable advice on starting this transformation. They will understand how AI can automate mundane tasks, refine customer data analysis, and offer personalized experiences on a large scale.
Attendees will come away with an understanding of AI's potential to redefine marketing, equipped with the knowledge and tactics to leverage AI in staying competitive. The talk aims to motivate professionals to adopt AI in enhancing their CX, driving greater customer engagement, loyalty, and business success.Recently uploaded (20)
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Online consumer behaviour
- 1. ONLINE BUYER BEHAVIOUR Group-10 Sasi Dharan M 215116033 Ibrahim 215116079 Navneet 215116062
- 2. Understanding Buyer Behaviour Marketing Stimuli Product / Price / Place / Promotion / etc Other Stimuli Societal / Technological / Economic / Political / Legal Buyer’s Black Box Buyer characteristics Buyer decision process Buyer’s Response Product / brand choice Dealer / web site choice Purchase timing Frequency Amount
- 4. THREE KEY DETERMINANTS Although all steps in the consumer buying process might be affected by the Internet, “… it’s biggest impact is in the decision making process at the research stage.” (Yahoo! Inc. and OMD 2006) The study cites three key determinants in the online information search as: 1. Trusted sites 2. Choice of brands to compare 3. Competitive prices Source : Online Marketing by Gay, Charlesworth & Esen Chapter Five - Oxford Univ. press 2007
- 5. THE PURCHASE BEHAVIOUR MATRIX In the Internet age, information about products is available from a myriad of off- and online sources. Furthermore, the purchase is not necessarily made from the vendor who provides the most significant information. Purchase behaviour variables for the web enabled customer include: Source : Online Marketing by Gay, Charlesworth & Esen Chapter Five - Oxford Univ. press 2007
- 6. THE IMPORTANCE OF SAME DAY DELIVERY – STATISTICS AND TRENDS More than (51%) half of retailers offer same-day delivery and 65% plan to offer it within two years. 49% of shoppers say that same-day delivery makes them more likely to shop online. Check out our infographic on the importance of Same Day delivery and latest same day delivery statistics and trends. Source:https://www.invespcro.com/blog/
- 7. REASON FOR INCREASE IN ONLINE PURCHASE Low price Return policy Door delivery Rate comparison Search friction is less Geographic friction is less Source : Location is still every thing – by David R bell
- 8. ONLINE REVIEWS – IS LIKE SNOW BALL
- 9. Thank You