You are required to submit a 1,500 word proposal for a small-scale research project that will enable you to develop greater insights into consumers’ buying behaviour. You should select a commercial environment within your local area as the focus of your research. In your proposal you should: · Clearly articulate the aims and objectives of your research, sharing your research question (hypothesis). · Share your rationale for your project; typically this should include justification of both the commercial setting and what you hope to learn about consumer behaviour. · Ensure that you underpin your proposal with application of relevant theoretical concepts to support the justification of your approach. · It is critical to explicitly outline the ethical considerations associated with your research and how you propose to address these. · Observe the Harvard style of referencing theoretical concepts both in-text and in the references list at the end of your assignment
Customer purchasing trends, expectations, and requirements require understanding their buying requirements as the prerequisite aspect. Understanding customer buying behavior is a multifaceted practice since customer behavior is affected by a multiple of factors that include external and internal aspects (Stockford 19). The factors are the reasons for customer purchasing decisions and influence the way a customer evaluate a service or a product before purchasing it. Therefore, comprehending the customer buying patterns and behavior is the most imperative aspect of marketing as it assists in upholding the customers’ interests in ways that aid in marketing strategies as per the clients’ requirements.
ABC Company is among the leading retailers of clothes and beauty apparels in New York. The company requires a thorough understanding of the customer purchasing requirements to design effective marketing campaign strategies. Like any other business, ABC is affected by both external, internal factors that influence consumer purchasing buying behaviors, patterns, and interests. Among the factors classified as internal factors are personality, attitude, lifestyles, knowledge, and motivations. External factors that influence customer buying behavior include buying situation, culture, and customer membership.
The research will serve as the source of in-depth insights of observing consumer buying behavior in any commercial setup and will not be useful to ABC Company alone, but will also provide a yardstick for other companies to gain knowledge of factors affecting customer buying behavior and purchasing patterns. The customer decision-making process will be explored alongside the client behavior models as it tries to cultivate the proposal for ABC Company to observe customer buying behaviors.
The critical problem that the research proposal wishes to address is the importance of observing customer purchasing behavior in a commercial setup. The questions that aid formulation of the research proposal include
- What are the factors that influence customer buying behavior?
- In what ways do marketing segmentation and targeting correlates with customer behavior?
- What are the five common stages involved in the buyers’ decision-making procedure?
- What is the role of customer buying behavior in marketing?…