MARKETING MANAGEMENT MARKET OBSERVATION REPORT

MOTORCYCLE

SECTION A SL. NO. 1 2 3 4

GROUP 15

ROLL NO. NAME 11202057 ROHIT GANTAYAT 11202058 ANNAYA ROUT 11202059 RAJIV KUMAR 11202060 ABHISEK PATRA

What is Consumer Buying Behavior?

Definition of Buying Behavior: Buying Behavior is the decision processes and acts of people involved in buying and using products. Need to understand:
y y y

Why consumers make the purchases that they make? What factors influence consumer purchases? The changing factors in our society.

Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for:
y y

Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create a Marketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. Marketers can better predict how consumers will respond to marketing strategies.

CONSUMER BUYING BEHAVIORS:

1) Since motorcycle has become a basic need for all men. , we see all categories of people be it young or old using a motorcycle. now a days consumers are very analytical in selecting the motorcycle .they are a tech savy, looking for maximum services at a reasonable price. the actual buyers of motorcycle are mainly the young people for riding as well as official people for facilities provided at cheap tariffs and rates. 2) It is a subjective concept .With respect to our market observation it has been observed that the buying behavior of customer usually lies with the earning head of a family .In our Indian market it has been noticed that the purchase decisions are taken by the head of the family. Here in case of MOTORCYCLE since it is a very necessary item its purchasing decisions are vested with earning member of the family and subsequently with the youth generation of the family. 3) The main influential factors that lead a consumer to purchase a product are advertisement, positioning, and social environment,consumer response of an individual. The main influential factor for MOTORCYCLE is the reliability, trustworthiness and brand name. 4) The customer being rational tries to seek whatever information is available regarding a product in the market. MOTORCYCLE being a reputed brand information are available on the internet, social networks, emails, web-media, ministores etc. Various informations like the terms and conditions, tarrifs, product availability, etc. 5) There are various alternatives like hero Honda which is now hero group,Honda,Kawasaki,suzuki etc.

6) MOTORCYCLE has conducted evaluation process regarding style, look , milage ,cost also in engine. It frequently evaluates its consumer response to its various product. 7) MOTORCYCLE point of evaluation usually takes place after sales through routine services(check whether all parts are working properly or not) etc.

BUYING DECISION PROCESS:FIVE STAGE MODEL RELATED TO BSNL

Consumers generally pass through five stages in buying the product which is recognized by five stage model of buying decision process. The psychological process play an important role in understanding how consumers actually make their buying decision process. The five stage model are as follows:     Problem recognition Information search Evaluation of alternatives Purchase decision Post purchase behavior

Now if we relate it to motorcycle we have the following explanations:PROBLEM RECOGNITION: Generally the buying process starts when the buyer recognizes a problem or need triggered by internal or external stimuli. Marketers need to identify the circumstances that trigger a particular need by gathering a number of informations from number of customers. So ,relating to the telecom sector every individual wants to keep a mobile so that they can stay in touch with the people. So here the customer develops requirement to purchase an motorcycle. It may also happen that customer is not satisfied with the motorcycle they are presently using in their cells and they want to switch to other card to get more benefits. SO marketers in motorcycle have to recognize the needs of the customers by basic research and trigger them. As the population is growing in large numbers the needs are growing, so we have to develop such strategies so that it be reached to all people and too trigger their demands nad make them satisfied. INFORMATION SEARCH: We can distinguish between two levels of involvement with search. At this level person simply becomes more receptive to information about the product. At the next level, the person may enter an active information search: looking for reading material, phoning friends, going online and visiting stores to learn product.

Information about the consumers will turn into four groups:y y y y Personal: family, friends, neighbors, acquaintances Commercial: advertising, websites, salespersons, dealers,packaging. Public: mass media, consumer-rating organizations Experimental: handling, examining, using the product

In relation to motorcycle we can see that consumers can be affected by the above relations. motorcycle has to set themselves so that all can get information and get motivated towards the product. There are many competitors in this market. So the information provided by motorcycle performs a different function in influencing the buying in decision.

EVALUATION OF ALTERNATIVES: Some basic concepts will help us understand consumer evaluation process. y y y First, the consumer is trying to satisfy a need. Second, the consumer is looking for certain benefits from the product solution. Third, the consumer sees each product with varying alternatives for delivering the benefits sought to satisfy this need.

Market segmentation highly depends on finding the alternatives. In relation to motorcycle we have to see that consumers have a lot of alternatives as different schemes are coming to market by different company. Customers different find the alternatives as they have plenty of alternatives. So as marketers we have to take care so that customers should be more willing to purchase motorcycle and enjoy the facilities by the providers. PURCHASE DECISION: In the evaluation stage, the consumers forms the preferences among the brands in the choice set. The consumer may also an intention to the buy the most valued brand. They take the following sub decisions:1. 2. 3. 4. Dealer Quantity Timing Payment method

So motorcycle should see that all the above points are taken into account and the process is done so as that it is available in all areas and they should deal in all these facilities so that they are ahead of the motorcycle.

POSTPURCHASE BEHAVIOUR: After the purpose, the consumer might experience dissonance the stems from noticing certain disquieting features or hearing favoulable things about other brands and will be alert to information that supports his or decision. motorcycle Marketers job doesn t end with the purchase. Marketers must monitor post purchase satisfaction, post purchase actions, and post purchase product uses.