Analyzing and Reporting Results - Essay Example

Analyzing and Reporting Results College Analyzing and Reporting Results Organisational buyers are the individuals in charge of buying or purchasing products and services for governments, organisations and businesses. They purchase products and services professionally after making decisions for their organisations. They are more knowledgeable and sophisticated than the standard consumers. They are characterized as industrial, institutional, intermediate and government or public sector organizations.

The industrial organizations are usually more risk averse and will buy more proven brand name products. They are more focused on the profitability, and will mostly buy competitive products, raw materials and parts for manufacturing purposes (Brenkert, 2008). Institutional buyers are firms and individuals who are more sophisticated and recognized by the financial institutions. Intermediate organizations buy bulky amounts of products and raw materials for distributions to the consumer. They include wholesalers, importers and distributors.

Governments and public sector organizations are the ones regulated by the government. These are basically the federal, the state and local agencies that buy goods and services for the citizens they serve. Organizational buyers are typically the people who buy goods in bulk and not for consumption. This is also known as business buying. Consumers on the other hand can be categorized into seasonal, personal, need based, impulse, discount driven or habitual consumers. Seasonal consumers are those that buy season based goods that are demanded only at certain times.

Personal consumers purchase goods for the sole purpose of household, family or personal needs. Impulse consumers are the consumers who buy products with no prior plans of buying (Malhotra, 2010). Need based consumers are the consumers who buy goods only when they need them for certain purposes and not any other time. Discount driven consumers are the consumers who buy goods primarily due to the discount on offer. Habitual consumers are those who find it compelling to use certain goods when presented with the opportunity.

The factors that influence consumer decision could be classified under the buying state, social as well as personal influences. The buying situation could entail extensive problem solving, limited problem solving and automatic response. When the need is new, the means of satisfying it are uncertain and expensive and so the consumer employs extensive problem solving. Limited problem solving is where the buyer has some know-how and experience about what is being sold. It only needs a certain amount of research and information.

In automatic response the company tries to keep advertising to keep the brand in the consumers’ mind. Personal influences are all about the psychology of the consumer. These may include a consumer’s personality, perception, motivation or learning. The personality could be submissive, dominant, hostile or warm. The social influences of consumer decision making include the family, culture, reference group and social class. The major factors that affect organizational buyers’ decision to buy can be categorized into the buy class, the product type and the importance of purchase to the buying organization.

The buy class could be a new task, a modified or even straight re-buy. The occurrence of a new task takes place when a product has not been purchased previously and, therefore, needs a lot of research. A straight re-buy is where the organization buys from an accepted supplier, and from where it always makes its purchases. A modified re-buy relates to the regular requirements whose buying alternatives are known, but where some changes have occurred and require attention and information. The product type classifies products into four types namely materials, components, plant and equipment together with products and services for maintenance, operation and repair.

The importance of purchase to the organization involves large sums of money, and the uncertainty of the alternative offerings outcome. Marketing research is the objective and systematic search for, and analysis of information necessary to identify and solve any problem in the marketing field. It comprises researchers, advertisers and business people whose main goal is to satisfy the wants of the consumers. Marketing research is the way a customer is lured into buying a certain product. In today’s world, each product is competing with a similar product and it is, therefore, vital to ensure that products made are of a high standard.

There is infinite success to a product well marketed. Marketers interpret the wants and needs of consumers, and make end products that satisfy them. Therefore, marketers follow the cognitive processes that consumers go through before, during and after making a purchase, a process that gives them important insight (Naresh, 2009). When BevCo are marketing their new beverage, for example, they should first of all research on how the consumers would react to the name, taste and package of the beverage.

The product they are selling is a new task type of product since it is new in the market. They should research deeply and present their product with all possible considerations put in place. Since they already have an identity which is their brand name, they should now write a marketing plan with clear descriptions of the target markets, list ways on which to reach the targets through advertising, which typically means placing ads in magazines and on the websites, create a website with information about the product and create direct mails to answer questions and send information and coupons.

There should also be a catchy slogan, free samples and discount coupons. References Brenkert, G. (2008). Marketing ethics. Malden, MA: Blackwell Pub. Malhotra, N. (2009). Basic marketing research: A decision-making approach. Upper Saddle River, NJ: Prentice Hall. Naresh, B. (2010). Marketing research: Tools & techniques. Oxford: Oxford University Press.