Factors Influencing Consumer Behavior, Consumer Market and Product Attitudes - Example

Consumer Behaviour: Attitudes Name: Course: Institution: Date: Table of Contents Table of Contents 2 1.0 Background 3 2.0 Scope and Objectives 3 3.0 Research Methodology 5 4.0 Major Findings 6 5.0 Impacts of the Findings 8 6.0 Conclusion 9 References 10 Appendices 11 Appendix 1: Articels Summary 11 1.0 Background The global market is growing, highly competitive with increasing market competition as well as changing consumer demographics and buying behaviour. Therefore, in order to facilitate eventual market success, it is imperative to establish the existing consumer behaviour as well as the expected future trends. One of the dynamically changing aspect of the consumer behaviour, psychology is the consumer attitudes. In this regard, a consumer attitude is described as the motivating and influencing factor that influences consumers into purchasing or re-purchasing a given product. This report develops a critical evaluation on the fundamental aspects of the consumer attitudes influencing factors. In particular, the analysis investigates empirical research studies to establish the rowing trend and changing systems in the market. The report investigates the concept through an evaluation of five key articles by Alsirhan ad Alibeli, (2013), Samanta and Papadopoulos (2012), Yang, Liu, and Zhou (2012), Kennedy, Worosz, Todd and Lapinski (2008), and Cai, Yang and Cude (2008) respectively. 2.0 Scope and Objectives A research study analysis evaluates the nature and extent to which a research study investigative process extends. In this report, the definition of a research study scope forms the basis through which a research deliverable is developed and formulated. In this report, the report scope is limited to, an evaluation of the various factors and situations influencing the consumer attitudes in the market. In this case, as a means of developing an acceptable global analysis, it evaluates consumer trends across industries and across the global market. On one hand, the report evaluated the Jordan market through the use of the study as developed by Alsirhan ad Alibeli, (2013). In this regard, the study develops a special focus on the concept of rural-urban migration in the society and the resultant market diversity and product availability impacts on the consumer attitudes. In this case, the research evaluates the extent to which the presence of a market variety, many suppliers and available product substitute affected the consumer attitudes and decision to purchase or not purchase such a product. In addition, it sought to evaluate the other market diversity factors affecting the consumers. On the other hand, the report evaluates the role and extent to which consumers’ age implicates on their attitudes. In this case, the study developed by Samanta and Papadopoulos (2012) developed an inward perception of the process of the Greek society. In this regard, the process allowed for an inward perception on the attitudes develops and change over the years. In this regard, the research scope was based on an evaluation of the extent to which the older, middle aged and the young, generation Y attitudes in the market varied. As such, this would form a basis through which the production and marketing strategies for the different consumer age segments could be developed and derived. In addition, the report evaluated the impacts of technology on the nature and changing consumer market attitudes through the study developed by Yang, Liu, and Zhou (2012) in the Chinese market. In this regard, the study was oriented to establishing and developing the extent to which the technology acceptance model (TAM) was applicable and acceptable in the Chinese market. In particular, the study focused on the younger generation, who are the users of internet enabled and technological advanced mobile devices. In this regard, the study investigated the extent to which the use of technology and the probability of a viral mobile system or product and message could implicate on the consumer attitudes to positive or negative attitudes. Therefore, it examined the technology based factors promoting a positive consumer base attitude and those promoting a negative consumer base attitude among the Chinese market youths. Finally, the report expanded its scope to incorporate the USA market. In This regard, the USA market was evaluated through an adoption of two different studies in the food safety and e-banking industries respectively. On one hand, the study by Kennedy, Worosz, Todd and Lapinski (2008) evaluated the extent to which the society, social-economic factors influenced their attitude on food safety. In this regard, the evaluation investigated the role of factors such as social class, earnings and geographical locations in the developed attitudes for provided food safety and a threshold on the food safety standards. On the other hand, the study by v evaluated the extent to which the consumer perception of the potential benefits and challenges of an e-banking system affected their attitudes and absorption levels. The decision to diversify the report scope across industries and markets was based on the understanding that different markets have varying cultural characteristics, making them distinct/ therefore, through such a process, the study ensured that the authenticity and developed conclusions were applicable and relevant across all the markets. 3.0 Research Methodology In developing and executing a research study, researchers have a wide variety of alternative approaches through which to collect the required data. In this regard, the key methods of data collection are the primary and secondary data collection approaches. On one hand, under the primary data collection approach, the researchers collect data from the primary sources and thus do not rely on the already existing data. In This case, the process allows for increased data quality and accuracy, but poses the risk of increased data collection time and costs that are often scarce resources in research studies. On the other hand, a secondary data collection process involves the use of already collected data saving on duplication efforts as well as on data collection costs. However, in the event that such collected data was wrongly misrepresented, then the risk of wrong and inapplicable recommendations emerges. However, The strategic approach to rationalising on the merits and overcoming the challenges of both approaches is adopting a combined approach of using both strategies in the analysis process. This Report applies both the secondary and primary data collection approaches. On one hand, the study developed in the USA e-banking merits and challenges impacts and the consumers’ attitude by Cai, Yang and Cude (2008) applied the secondary data collection approach. In this case, the study used previous industry data collected and analysed by the survey and research unit of the Michigan University. In this case, no further industry data were collected and the entire analysis and conclusions developed were based on the Michigan University database. On the other hand, the report study also adopted studies using the primary data collection approach. On one hand, the study of the Jordan market diversity by Alsirhan ad Alibeli, (2013) was based on a survey primary data collection approach. In this regard, the researchers evaluated the changing market trends through analyzing the consumers’ attitudes on a regular basis to establish their changing attitudes in the market with changing market diversity and variety and substitute provision. Similarly, the Samanta and Papadopoulos (2012) study on the Greek society applied the primary data collection approach. Under this study, the researchers circulated 365 questionnaires in the population to establish the extent and nature to which consumer age influenced their attitudes. In this regard, the process of using questionnaires allowed for the collection of first hand data from the actual consumers rather than relying on industry reports or analysis by other reviews. Further, the study by Yang, Liu, and Zhou (2012) on the Chinese young population attitudes about technology enabled marketing systems was based on a primary data collection process. In this regard, the study targeted the collect students in the Chinese society, conducting a total of 835 surveys in the population. In this regard, the large sample base, spread cross colleges in the Mainland China region ensured that the entire population was represented and offered recommendations were viable and relevant in the market. Finally, the fifth study by Kennedy, Worosz, Todd and Lapinski (2008) evaluating the socio-economic factors influencing the consumer attitudes on food safety was executed through a primary data collection process. In this survey, the researchers evaluated the overall consumer response and perception through phone interviews, which is an alternative form of primary data collection. This analysis establishes that the report adopted studies with varying data collection approaches to ensure that the collection process diversity contributed to the overall market success of the reviews. In particular, the report evaluated the following two objectives namely: 1.0 The internal consumer factors influencing their attitude 2.0 The external social-economic factors influencing consumers’ attitudes. 4.0 Major Findings Based on the adopted studies scope, the research categorised the finding on the basis of internal and external influencing factors on the consumer attitudes. In this regard, for the internal factors, it examined the study findings for the Samanta and Papadopoulos (2012) and Cai, Yang and Cude (2008). In this case, both surveys evaluated the nature and extent to which internal consumer traits and perceptions influenced their attitudes and ultimately the buying behaviour and decision making process. On one hand, an evaluation of the Samanta and Papadopoulos (2012) study findings established that the consumers’ attitudes in the Greece market were influenced by the extent of the message personalization and use of the IT platform to market the goods. In this regard, the evaluation established that through the marketing process organisations that develop market specific advertisements such as with the mention of the specific target locations attracted ad created a positive attitude among the young generation consumers. On the other hand, organisations that developed informative and educative marketing advertisements created increased positive consumer behaviour among the elderly population. Therefore, the study concluded that through increased market messages specification and targeting, organisations are bound to increase the ultimate consumers’ attitudes in the long run period. Similarly, an evaluation of the e-banking survey findings established that the consumers’ perception of the benefits of the system served as a key positive attitude development ingredient. In this regard, Cai, Yang and Cude (2008) established that for those consumers who perceived the gains of the system, there was a higher positive attitude occurrence that those who were concerned with the challenges. Therefore, the study concluded that the respective consumers’ orientation, whether they were optimists or pessimists played a direct implication role on their attitude. In general, the optimists who evaluated the benefits of the e-banking system developed a positive attitude, while the pessimists who were concerned with the potential risks developed a negative attitude. Therefore, the above analysis establishes that besides the external market features, consumers internal psychology has a direct impact on their market attitude. On the other hand, an external social-economic factors evaluation was based on a review of the studies by Alsirhan and Alibeli, (2013), Yang, Liu, and Zhou (2012) and Kennedy, Worosz, Todd and Lapinski (2008). On one hand, Alsirhan and Alibeli, (2013) established that there exists a relationship between market diversity and the consumer attitudes. In this regard, the analysis established that a majority of the consumers developed a negative and a choosy attitude with increased variety and availability of substitutes. In addition, Yang, Liu, and Zhou (2012) concluded that the use of the mobile marketing platform to influence the consumers’ attitude success was based on the ability of the message to go viral. In this case, if a message had the potential to influence a large number of the young population in the market, it created a positive attitude towards the market product. Therefore, this illustrated that a marketing success on consumer attitude was based on the ability and extent to which the respective consumers’ interests and identity was captured. As such, marketing products capturing such consumer segment identities increased their overall impact on creating a positive consumer base attitude on the products. Finally, an evaluation of the food safety, consumer attitude survey established that the respective consumers’ social class and level of earnings directly influenced their attitude. In this regard, Kennedy, Worosz, Todd and Lapinski (2008) concluded that a consumer’s social class and earning levels as well as their living standards influence the manner and extent to which they perceive the market products thus influencing their attitude. 5.0 Impacts of the Findings The analysis nature and extent to which both the internal and external factors influence consumers’ attitudes have great implications on the overall marketing and product development process. In this rgeard, the resesrch findings play a diect role in influencing the decision making process for the rspective roduct and industry service providers, as well as on the marketing practices in the market. On one hand, the establishment of the revelation that the consumers internal factors have a direct impact on their attitude influences the marketing process. In This regard, based on the analysis, marketing organisations and staff should develop marketing systems and strategies identifying and targeting the different consumer groups. In this case, rather than developing marketing strategies and advertisements that are oriented to the merits of adopting and using a given product, the scope should be diversified to evaluate the challenges. In this case, such a change in showcasing the potential demerits or challenges of using a given product and the subsequent ways through which to overcome them would encourage a positive attitude among the pessimist consumers. Therefore, in marketing products, organisations should consider the perceived limitations and negative implications of a product, such as side effects and consequently develop strategies through which to overcome and mitigate the challenge. The execution of such changed marketing perspective will boost the development of a positive product attitudes across the optimistic and pessimistic consumers. In addition, the findings that the environmental, socio-economic factors have a direct impact on the consumers’ attitude will form the basis for market segmentation. In this regard, this analysis establishes that in developing market product and differentiating product features, the organisations should consider the different environmental factors facing its consumer base. In this context, the consumers’ socio-economic features impact on their perception and attitudes on quality and product standard. Therefore the key to creating a consumer base positive perception of a product is based on the ability of the respective organisations to develop and strike a balance between the product features and qualities with the consumer socio-economic environmental conditions. Such a balance would ensure the development of a positive attitude in the market, enhancing increased purchases and re-purchases of the respective products. Therefore, the above analysis of the internal and external market factors influencing a consumer attitude level are a key ingredient towards the development of a successful and stable consumer market. In this case, organisations and other industry stakeholders can rely on the offered analysis to develop relevant strategies to influence the consumer buying behaviuor and in particular promote the development and retention of a positive consumer attitude. 6.0 Conclusion In summary, this report develops a critical evaluation of the factors influencing consumer behaviour and in particular consumer market and product attitudes. In this case, through an evaluation of 5 different articles touching on different industries and global markets establishes that the consumer attitude is influenced by both internal and external factors. Internally, the analysis argues that pessimist and optimist consumer traits influence the level and nature to which their attitude on a product is affected. On The other hand, externally. The report concludes that socio-economic environment features directly influence the consumers’ product and market attitudes. References Alsirhan, S. M., & Alibeli, M. A. (2013). Attitudes and behaviours of consumers toward local markets in the badia region of Jordan. International Journal of Business and Social Science, 4(7) Cai, Y., Yang, Y., & Cude, B. (2008). Inconsistencies in US consumers' attitudes toward and use of electronic banking: An empirical investigation. Journal of Financial Services Marketing, 13(2), 150-163 Kennedy, J., Worosz, M., Todd, E. C., & Lapinski, M. K. (2008). Segmentation of US consumers based on food safety attitudes. British Food Journal, 110(7), 691-705 Samanta, I., & Papadopoulos, K. (2012). factors influence consumers' attitudes and perceptions: the case of generation Y. Journal of Marketing and Operations Management Research, 2(2), 61-77 Yang, Liu, H., & Zhou, L. (2012). Predicting young Chinese consumers' mobile viral attitudes, intents and behaviour. Asia Pacific Journal of Marketing and Logistics, 24(1), 59-77. Appendices Appendix 1: Articels Summary Author (s) DV=Dependent Variable IV=Independent Variable Relationship with DV Measurement used Country Method Number of Respondent & Response Rate Population size Survey method Unit of Analysis Alsirhan & Alibeli (2013) DV=consumer attitudes extent of influence IV=market diversity Market diversity has a direct impact on consumers purchasing attitude Consumer attitudes Jordan Quantitative Surveys The extent to which market diversity influence consumer attitude Samanta & Papadopoulos (2012) DV-consumer attitude IV-consumers age The consumers age influences their market and buying attitudes Consumer attitudes Greek Quantitative 365 respondents Questionnaire The extent to which consumers age influence their attitudes Yang, Liu & Zhou (2012) DV-consumer attitudes IV-Technology influence The level and nature of technology influence the consumer attitude Consumer attitudes China Quantitative 835 respondents Survey Role of technology on consumer attitudes Kennedy, Worosz, Todd & Lapinski (2008) DV-consumer safety attitude IV-food safety Consumers social economic status influence their attitude on food safety Consumer attitudes USA Quantitative Telephone questionnaire The extent to which consumers social-economic factors influence their attitudes. Cai, Yang & Cude (2008) DV=consumer attitudes IV= e-banking technology e-banking technology merits and disadvantages perceptions influence consumer attitudes Consumer attitudes USA Qualitative Case study The relationship between e-banking merits and disadvantages and the consumer attitudes Read More