Buyer Behaviour

The purpose of this report is to describe the purchasing scenario of a consumer who is about to purchase a device to replace their broken or outdated laptop. The decision on what device to purchase is complex and depends on their individual needs. Consumer buying behaviour is defined by Kotler et al (2008:238) as â€Å"[t]he buying behaviour of final consumers-individuals and households who buy goods and services for personal consumption†. The world as we know it today has rapidly changed due to advancement in technology. Consumers preference are also changing due to the market changes that continue to occur . In order for a business to survive in the competitive markets today ,a company/firm has to be up to date with the latest consumer taste and trends. Consumer behaviour offers vital information and guidelines to marketers on the new upcoming technological changes that they will need to explore for example, Lap tops, PC, IPods, Phones and etc. Consumer behaviour is important in marketing, because it focuses on the customer’s views and what customer value at all times. Customers’ needs/wants are always deliberated by the company so as to provide the best service/product in return. 2. The characteristics that affect consumer behaviour Mr Dennis Nyanmichaba an accountant at NBC Bank has faults with his HP Laptop which keeps on heating up and randomly shutting down every time he places it on a hard surface, due the problems he can hardly use his laptop at home or work because it keeps shutting down, and sometimes when he is doing important work (e. g. Balance sheet, profit and loss account and etc) the computer shuts down so he sometimes loses the work and has to start all over again which is not a good thing. So he recently visited the store wanting to know if he can either repair the laptop or buy a brand new one, and if it’s the case of buying a brand new laptop, what brand is suitable?. Mr Dennis Naymichaba would want to have a laptop that not only works perfectly but also appeals in today’s business world (Social) for example a really known and sophisticated brand like Apple (Mac Book) which not only has basic things that a normal laptop has but also has the edge and advanced technology which makes it different from other laptops, Dennis would want a laptop with outstanding quality that works really fast and does not have any sort of complication what so ever, at the same time it should have a logo/brand that stands out among peers, Because nowadays you don’t see business people or firms still using old brands they all try to upgrade and stay up to date with technological advances. Another thing would be (Psychological Factors) that he would want to buy it because his co-workers are using the same type or much more advanced technology laptops, so he wouldn’t want to feel left out in the technology world and decide to also upgrade to something m ore advanced instead of the laptop he has at present. In other words Mr Dennis Nyamichaba would want to purchase the laptop not only for necessity, but also out of desire and psychological need, he would also not only want the laptop for office needs only but also personal needs for example on a weekend off work he would love to watch movies, listen to music and perhaps play games take his mind off work and entertain himself, So basically he would want something with some sort of entertainment that would help him relax, set his mind off work and do something different as mentioned above. The consumer purchase decision process diagram is very important for anyone making a decision in marketing. It alerts marketers to consider the buying process rather than just the purchase decision. The diagram indicates that customers pass through all stages in every purchase. However in more routine purchases, customers often skip or reverse some of the stages. An example would be Mr Dennis Nyamichaba buying his well-known laptop (Mac book) he would not consider anything else but buying the mac book, just because everyone else has the same kind of brand at that particular time/period and go right to the purchase decision, skipping all the other processes . However the diagram is very useful when it comes to understanding any purchase that requires some thought and deliberation. The consumer buying process start with need recognition. At this stage, the buyer recognises a problem or need (e. g. Mr Dennis needs to know if he can buy a brand new laptop or repair the old one) 3. The types of consumer buying decisions Then Mr Dennis Nyamichaba (Kotler et al (2008:266) Information search: Seeking value) will have to seek for information regarding which brand he should really go for and if that certain brand is perfect for his needs and wants and if it is not underrated in today’s business world and technology, he would also want information on how long this certain product lasts for, what period of time will that certain laptop really stay for without problems occurring (In other words it’s durability). Then (Kotler et al (2008:269) Evaluation and alternatives assessing value) he would compare between his broken laptop and advanced technology laptop that was recommended for him, what things does the old laptop have that the one with high technology does not have and check if the technology has really changed like how it’s been stated to him by the store workers. Mr Dennis (Kotler et al (2008:271)Purchase decision: Buying value) would look into the price, if it’s really e xpensive that he has to wait for prices to go down then buy it or just purchase it now that he desperately needs it. Then lastly (Kotler et al (2008:271) Post purchase behaviour: Value in consumption or use) after purchasing the laptop Mr Dennis will have to compare the performance of the laptop and see if he really likes it and if it suits his needs and wants and if he is really satisfied /dissatisfied with product, and if so, he can share his experience with other co-workers that have yet to buy the laptop. Mr Dennis Nyamichaba’s customer involvement (Variety seeking buying behaviour) into buying this product is low because he has no Idea what to get after his old laptop broke down, there will be significant difference among brands (An example would be CHOCKLET, someone would not know the taste hence after eating only he can tell whether to still go for the brand or change to another one next time he is buying the cake. The companies try so hard to change the nature of habitual buying behaviour. ) so he would not know which among the brands is by far much better for him and that he is assured that he won’t face the same problems that he faced with his old laptop. 5. CONCLUSION This report has explained on how marketers should understand consumer behaviour and how they should go about it . And also has identified the characteristics (Cultural, social, personal and psychological characteristics) that would affect the consumer behaviour when making a purchase relating to an incident or a customer replacing a broken laptop. Also it has looked into the buying decision behaviour (Variety seeking buying behaviour) that is associated with the purchase. Also the significance of consumer involvement is it high or low for the type of buying decision behaviour. It is now clearer that there is not a particular theory that is entirely faultless in the attempt to unravel the mystery of buyer behaviour as the debates have proven to be never ending. Each theory holds some degree of relevance. However, some tend to be stronger than others in terms of substantiation and certainty. The literature available reveals that there is an on-going tendency of rejecting ideas regarding the genesis of buyer behaviour. When we omit ideas and ration down the nature of buyer behaviour, danger is that we block out useful knowledge which bounds our scope of appreciation. The original premise therefore stands to be true that the nature of the buyer is indeed in need of investigation, rather that presupposition.

Partnership law (In Australia) Assignment Example | Topics and Well Written Essays - 2000 words

Partnership law (In Australia) - Assignment Example Question 1 In the case of The Money Doctors, the business is a partnership due to the fact that the three persons had come together with the intension of carrying out a business venture and make profit. Although they did not have a written agreement, this business relationship has everything that a business partnership has and it therefore makes them a partnership. The partnership is made of Adam, Moe, and Jeff because they were the proprietors of the business. Flo, Adam’s Wife, cannot be described as a partner in this endeavour because of two main factors. To begin with, the money that she contributed to the business was a loan which was supposed to be refunded to her in the course of doing business. Secondly, her second role in the business was as an employment receiving an annual salary. As a result, although she was related to the partners and contributed to the initial capital, she cannot be described as a partner in the relationship. As seen in the decisions made in Birt chnell v The Equity Trustees, Executors and Agency Company Limited [1929] 42 CLR 384 19291, the court decided that the actions which the partner carried out should have been in the interest of the partnership. In this case, the court predicated its decision on the fact that in a partnership, every action carried out by any of the partners must be seen as being carried out in the interest of the partnership. Therefore it found that when the accused failed to remit the profits which he had gained by acting in the capacity of a partner, he had failed to observe the law and betrayed the other partners. The profits made by the accused were therefore seen as supposed to have been shared with the rest of the partners due to the nature of the business association that existed between him and the partners. The same case appears in the Money Doctors case where the partners are acting in the interest of the partnership and the rest of the group. This therefore defines The Money Doctors as a pa rtnership. In Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales (Finance) Pty Ltd [1974], the court decided that the business venture constituted a partnership based on three major factors which the court looked upon. First, the court quoted the fact that the partners had come together with the aim of carrying out commercial ventures. Secondly the court quoted the Partnership Act of 1892 and pointed out that since the partners intended to share the profits equally as produced by the business venture, that this then constituted a business partnership. Thirdly, the court referred to the fact that the partners were concerned with the financial stability of each other. The fact that the parties involved met these three main factors which are used to describe a partnership led to the court deciding that the relationship was a partnership. These three factors are also eminent in the case of The Money Doctors and therefore the Money Doctors can be seen as a partnership. In Ka ng-Kem v Paine (2004)2, the court used the same rules to determine the existence of partnership between the two persons before the court. The court used the definition of a partnership as provided in the 1892 partnership act. It also used some parameters to determine the existence of the partnership. Among the factors considered included the joint tenancy, the sharing of gross returns and the sharing of the profits by the

Case study Assignment Example | Topics and Well Written Essays - 500 words - 2

Case study - Assignment Example In the evaluation and morale case, a number of problems emerge. According to the staff nurse, the nurse manager made some untrue against her in the report. In this respect, the problem of unfair evaluation emerges. Another problem also stems out of this context. The staff nurse’s morale is negatively affected by the report. The underlying adverse effect is directed towards the actual practice as much as it remains an issue with the staff nurse. This personal-practice-based implication of the report is a critical problem in the case. Over and above this, the staff nurse’s evaluation seems to have been directed towards one key event. In this respect, the progressive factor that should be captured in the report is not observed. Moreover, poor, inefficient, and ineffective communication between stakeholders (Phillips & Morris, 2011) is characteristic in the case. Finally, personal growth and development of the staff nurse is on the verge of being negated by the unfolding ev ents in the case. The above mentioned problems can be analyzed by employing a number of principles. An administrative problem that befalls any health care organization is critical (Burnard, et al. 2004). In the light of the case, it is important to understand the administrative standpoint of the nurse manager in executing her performance appraisal mandate. This is because the principle of dialogue is seemingly downplayed in relation to the manner in which the nurse manager executed the evaluation. Over and above that, issues to do with morality and ethics emerge. Moral and ethical principles are vital in analyzing problems related to nursing or any other health care practice (Walker & Avant, 2011). At the same time, it would be essential to account for professional platforms that are designed to promote personal and professional growth and development. In order to solve the problems described in the evaluation and morale case, a number of recommendations are