Students will use a free infographic tool that you have used over the past six weeks, to develop infographics that will be used to provide an overview of your consumer analysis paper.
Please, review infographic best practices before attempting to complete this assignments.
This blog post is a good resource for infographic dos and don'ts.
Free tools that may be used to develop the infographic include: Easel.ly, Venngage, and others. Please, take a screenshot of the infographic and post the actual graphic rather than the link.
The infographic should be posted on the Discussion Board for the class to see. This infographic should should show:
Graphics of some of the recurring purchases
Trends noticed
Perception
Learning
Memory
Motivation
Attitude
Decision processes used
Be creative, have fun, and be colorful. This infographic should provide a good overview of the paper you submitted last week using themes and graphics.
Consumer analysis paper is below so you can read it before you prepare the infographics
Consumer Purchase Analysis
Consumers are usually exposed to various data and information about the available varieties of products which impact their decisions about brands. It is not easy to completely understand consumer behavior. However, predictions on how consumers behave in purchasing situations can be made based on the previous trends in purchase decisions. Numerous factors affect consumer purchasing decisions. According to Nguyen & Gizaw (2014), some of the factors that influence consumer purchase behaviors include; consumer perception, attitude, demographic factors, brand and brand-related activities, such as advertisements, and purchase intention among others.
Familmaleki, Aghighi, and Hamidi (2015) on the other hand indicated that the four main influencing factors of consumer behavior involve a combination of cultural, psychological, personal and social and religious factors. However, for food-related products, Nguyen & Gizaw (2014) argues that the price-quality relationship tops all other considerations. Consumers make purchasing decisions depending on how appealing the find the products. Also, different factors may affect the purchase decision, depending on the product in question. For instance, purchase of food products may be influenced by experience (taste) or the need to try something new. On the other hand, the purchase of fashion items may be influenced by advertisements.
My buying habits are influenced by different factors. For instance, in week one as indicated in my purchase journal, I bought a variety of products. The products included fashion items such as Jeans, t-shirts, shoes, caps, and sunglasses as well as food items. The purchase of these items was mainly influenced by social media advertisements, preference, and peer influence. Social media advertisements of the classic clothes influenced my purchase of jeans t-shirts and shoes while the buying the sunglasses was influenced by personal choices (Familmaleki et al., 2015). However, the food purchase was purely influenced by my friend and the process by which it was made.
In week two, my purchases included a laptop, microwave, a video camcorder (all from Toshiba), an Aeropostale branded cap, a Smartphone and a smart watch (from Asus) and a Dell laptop. These products were all influenced by different factors including loyalty reward (from Toshiba), price-quality influence and online shopping platform (Asus) and my perception of the Aeropostale brand. According to Familmaleki et al. (2015), sales promotion activities such as loyalty rearwards offer consumers who are contemplating switching brands the incentives to purchase specific products, as in the case of my purchase of Toshiba products. Also, low prices and customer value (which were the primary influencers on the purchase of Asus products) are very significant in the purchase behavior (Familmaleki et al., 2015).
In week three, I indicated that in the purchase of an automobile, price, the condition of the car and the rating from the clients are very important. For instance, I would decide to go for BHPH dealers because of their low prices and high ratings as compared to the Retail Prime dealer on used cars.
As mentioned earlier, the price-quality relationship is a very important influence on purchase behavior. However, when it comes to automobile products, a buyer has to know what they want and to know the risks that may be associated with their product of choice. According to Chen, Tsai, and Hsieh (2017), the knowledge of a product can have a positive influence on purchase intention but may have a negative influence on the perceived risks. Also, the perceived quality (from client ratings) (Capon, & Hulbert, 2001) of the product can influence the perceived value positively which may also affect the purchase intention of the product.
In week four, I purchased an iPhone X which has better features, such as facial recognition and latest security updates as compared to the iPhone 8 I had earlier. Also, this purchase was also influenced by the numerous iPhone X advertisements on digital media, and I also wanted to be up to date with the current trends as I was the only person in my family who didn't have iPhone X. According to Familmaleki et al. (2015), social factors such as family members or people we idolize can be very influential in our purchase decisions.
However, the influence may be positive or negative. An individual can discourage our purchase intention by providing a negative account of their encounter with a particular product, or encourages to buy from their positive experience. In my case, I was motivated to buy iPhone X because most of my closest friends had it and I wanted to have the latest trending Smartphone. Also, advertisements also played a role in my decision to purchase the iPhone X through the portrayal of the latest features that the phone had.
In conclusion, there are numerous factors that influence consumers to purchase various products. Marketing activities, personal factors, cultural and social and religious factors all play a role in determining whether a consumer decides to buy an item or not. In my case, the above factors, such as social media advertisements, usually influence my purchase decisions and will continue to do so since I encounter them on a daily basis. Family and friends also influence my purchase decisions as they provide me with the latest information on products as well as their experiences with the products.
References
Capon, N., & Hulbert, J. M. (2001). Marketing management in the 21st century. Prentice Hall.
Chen, H. S., Tsai, B. K., & Hsieh, C. M. (2017). Determinants of Consumers' Purchasing Intentions for the Hydrogen-Electric Motorcycle. Sustainability, 9(8), 1447.
Familmaleki, M., Aghighi, A., & Hamidi, K. (2015). Analyzing the influence of sales promotion on customer purchasing behavior. International Journal of Economics & Management Sciences, 4(4), 1-6.
Nguyen & Gizaw (2014). Factors that influence consumer purchasing decisions of private label food products.