Consumer Buying Process Woolworth Limited

Question: Discuss about the Consumer Buying Process for Woolworth Limited. Answer: Introduction In 21st century changes is taking place in marketing strategies adopted by institutions and organizations for sustaining in the competition. Todays consumer lives in a world where there is continuous purchasing of goods and services. The companys survival is based upon gathering as much of information and amount of information generated that would display their purchasing habits (Kerin, 2006). This sustenance is possible only with developing relationship with customers for long-term by serving them as per their needs. Branding is an essential component in marketing in the modern era so it also considered as an asset. Marketing has evolved with time as now the focus is up on customer rather than on product. Each firm want to attract customers by providing them branded value for the product through customer satisfaction. This provides satisfaction to customers by being committed and would turn into repeat purchases. The other factor apart from customer satisfaction that affects purchasing process is quality, equity, trust and perceived value (Kotler and Armstrong, 2006). The relationship that exists between important variables and consumer spending is cognition, learning, attitudes and perception. The organizations should know the customers feel and think, who are the customers and they choose specific brands for making the purchase. Consumers are having lot of information about the products and services so the brand must appeal to the customers by making it unique. Hence, this research is aimed towards analyzing the impact of customer satisfaction and brand in the buying process of consumer in relation to Woolworths. This is not only the largest grocery retailer in Australian market but also at the same time successful by having its own chains of stores (Woolworths Online, 2016). Literature Review As per Kapferer, (2008) brand is more than a product that is the composition of everything. Brand is treated as symbol or name that creates positive image in the minds of the customer. A brand is referred to as sign, name, design, term, symbol or a combination of the goods and services by differentiating the products from the competitors present in the marketplace. As said by Nepali, (2012) a brand is formed when a marketer establishes symbol for product, logo and name that impacts the purchasing decision of buyer. A brand is an essential element as it adds value to the product as they interpret meanings in them by providing effective services. As discussed in the study Krizanova and Stefanikova, (2012) the information from market is first generated then brand positioning takes place as for some brand is guarantee through marketing strategy. Whether the consumer notices or not brand impact a consumer and branding influencing consumer decision of buying the product. As per Khasawneh, Hasouneh, (2010) the reputation of the brand is recognized by customers in the decision of buying and demographic features have no link on brand awareness. Brand act as an essential tool for being in the competitive advantage (Doostar et al., 2012). As it has multidimensional structure in the opinion of customer as per the quality and value. As opined by Danesi, (2006) they make an assumption that is related to mental and emotional by perceiving value added to the service or product. As discussed by Kotler and Keller, (2009) nuts and bolts are also packaged by addressing them with automobile parts like tires, plugs, filters appear with brand name but the difference lies in automakers that made it. Each person is consumer so satisfying their desires and need by delivering them quality service is tough. According to Yang et al., (2004) satisfaction is quick process or experience displayed by the consumer from using the product by providing satisfaction that can be assessed. So, organizations have to generate information by making options and choices available in the marketplace. According to Shah et al., (2012) the intention of purchasing the products or service is decision making for purchasing the specific brand by consumer. This process is unique as the intention for purchasing it depends up on attitudes, perception and behavior. When a product is purchased the process is based up on both external and internal environment motivations (Gogoi, 2013). Thus, more the customer is aware of the brand the decision to purchase it will be more and having attitude towards the brand is also significant. The researchers have proposed that six stages have influenced consumer for taking the purchase decision and they are knowledge, preference, awareness, interest, purchase and persuasion (Kotler and Armstrong, 2010). Hypothesis and Research Question Hypothesis Null Hypothesis (H0): Both brand and customer satisfaction impacts the consumer buying process Alternative Hypothesis (H1): Both customer satisfaction and brand does not impact the consumer buying process Research Questions How to determine the impact of customer satisfaction and brand in buying process in Woolworths? Different factors that impact consumer buying behavior with respect to brand? How to improve brand and customer satisfaction for purchasing services and products in Woolworths? What the different stages of purchasing the product in Woolworths? Measurement and Operation Definition This study is based on the investigation of the link and the variables impact that is included in the study. The variables used in the study could be both independent and dependent variable as independent variable is consumer buying process. The dependent variable is brand plus consumer satisfaction that is an important part. Research Methodologies: Analysis and Data Collection Sampling Techniques In this study the researcher would focus on collecting both secondary and primary data. Primary data is collected through both qualitative and quantitative data. The quantitative data is possible with the survey method that is collected from the customers. Similarly, qualitative data is collected from the managers of Woolworths through the interview process. On the other hand, secondary data is collected from both offline and online sources (Jha, 2008). The online sources are journals, websites and peer- reviewed articles and offline sources are business magazines, newspapers and library sources. The customers who are surveyed in the process will be selected through probabilistic sampling by providing them with equal opportunity to participate in the survey process. Alternatively, the managers who are being interviewed will be chosen through non-probabilistic sampling. This is done in accordance with their busy schedule and participation process. The number chosen for both of them are: Customer: 90 Managers: 5 Analysis Methods The quantitative data would be represented via statistical techniques and tools such as graphs, charts, pie chart and tables and also with the help of SPSS software (Kumar, 2005). On the other hand, qualitative data is a subjective matter that would be reflected through presentation and analysis. Process of Research Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Main Activities/ Stages Selection of area of research Developing the aim, objectives, research questions and hypotheses Preparation of research proposal Conducting the literature review Identifying and selecting the data collection methods Preparing interview/survey, ethics form Collecting primary data Analyzing data Comparing findings Conclusion and recommendations à ¯Ã¢â‚¬Å¡Ã‚   collecting feedback from the mentor à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   à ¯Ã¢â‚¬Å¡Ã‚   Finalizing and submission Expected Result In the study it is expected that customer satisfaction and brand in Woolworths is impacting the purchasing decision taken by consumers towards the marketer. Conclusion The research can be concluded with the fact that in making purchase of brands customer satisfaction should be present that would foster buying process of the products or service. The process is linked with objective and aims for achieving it effectively. References Danesi, M. (2006). Brands. New York: Routledge. Doostar, M., Akhlagh, E. M., abadi, M. K. i. (2012). Analysis of the Impact of Brand Assets on the Buying Decisions of Final Consumers. Journal of Basic and Applied Scientific Research, 2(9), 8824-8832. Gogoi, b. (2013), Study of antecedents of purchase intention and its effect on brand loyalty of private label brand of apparel, International Journal of Sales Marketing, Vol. 3, Issue 2, Jun 2013, 73-86 Kapferer, J. (2008). The New Strategic Brand Management. Kogan Page Ltd. Kerin, R. (2006). Marketing. New York: McGraw-Hill/Irwin. Khasawneh, Hasouneh. (2010). The effect of familiar brand names on consumer behaviour: A Jordanian Perspective.International Research Journal of Finance and Economics, 43, 33-57. Kotler P. Armstrong G. (2010), Principles of Marketing, New Jersey: Pearson Prentice Hall. Nepalia. (2011). Brand management and its impact on consumer buying behavior. International Referred Reseach Journal, 1(17),113-114. Kotler, P and Keller, K.l. (2009), marketing management, 13th Ed. New Jersey: Pearson Prentice Hall. Yang Zhilin, Peterson T. Robin, (2004), Customer Perceived Value, Satisfaction, and Loyalty: The Role of Switching Costs, Psychology Marketing Vol.21 (10): p. 799-822 (October 2004) Kotler, P. and Armstrong, G. (2006). Principles of marketing. Upper Saddle River, N.J.: Pearson Prentice Hall. Krizanova, A., Stefanikova, L. (2012). Importance of the brand for consumer purchasing decision in the slovak republic.Business Systems and Economics, 2(2), 25-38. Shah, H., Aziz, A., Jaffari, A. R., Waris, S., Ejaz,W., Fatima, M. and Sherazi., K.(2012), The Impact of Brands on Consumer Purchase Intentions, Asian Journal of Business Management 4(2): 105-110 Woolworths Online. (2016). Woolworths Supermarket - Buy Groceries Online. [online] Available at: https://www.woolworths.com.au/ [Accessed 24 Aug. 2016].