Introduction While the global economic growth forecast for the next decade is much stronger compared to the previous years, the outlook appears positive for most regions even the developing regions. The already developed markets might experience the weakest growth. In these countries, consumers might defer on expenditure on big items trying to maintain expenditure on smaller items, which includes the consumer technology. Emerging markets, where consumer technology is relatively low will also enjoy the high overall growth and this will eventually affect the consumer behavior.
Currently, the modern society is spending a lot in technology than one might expect. This is less than 2. The consumer technology purchases starts with low prices of tens of dollars for mobile phones basics , and rises to hundreds of dollars for smart phones, laptops, televisions, tablets, and computers.
Organizational Overview For more than seventy years, Samsung Company has a reputation of making the world better through diverse businesses that currently span advanced technology, skyscraper, semiconductors, and plant construction, fashion, petrochemicals, hotels, and finances Chang, The flagship company, Samsung Electronics, leads in the global market in high technology electronics producing and digital media.
Particularly, Samsung is South Korean multinational conglomerate company. It has its headquarters in Samsung town in Seoul Kim, The company has numerous affiliated businesses and subsidiaries that are under the Samsung brand. Lee Byung-Chull founded the company in as a trading company.
The company advanced in the next three decades and diversified into food processing, insurance, textiles, and securities Kim, In s, the company ventured into electronics and the shipbuilding and construction in mid s.
Through reliable, innovative services and products, talented people, and a responsible approach to the business, the company is taking the world at a different with imaginative new directions Chang, A decade ago, a big screen TV or an average PC purchased for than a thousand dollars.
For most consumers, the value for money is not quantifiable when purchasing or upgrading a service or a device Noel, Most consumers have an idea on what to purchase or the amount they might use. Consumer technology gives a good analysis of the consumer behavior. An average TV set is used five to seven hours in a day. Consumer technology offers such good value for various reasons.
The other drive is the high level of competition for various categories of consumer technology. For various vendors dealing with televisions, analysts have estimated a margin lower than two percent while others remain negative Consumer Behavior, On the hand, analysts estimated a low single figure for some tablets, with their profits generated from their accessory sales.
The expenditure on consumer technology in the previous years may stronger than producers expects because of a structural shift in priorities in the next decade. A high number of individuals, across many regions, may be putting emphasis on purchasing, enjoying, and owning technology than there before Noel, Buying a car or a good house was one of the rights of passage to becoming an adult. Dating from a year ago, buying a car, or buying a house may as well cause a reset.
Taking a public transport or renting an apartment is preferable than owning either of them especially on the congested cities Samli, Spending little on transportation and housing enables consumers to spend more money on technology devices Consumer Behavior, In developing countries, consumer technology appears to remain a significant purchase as households evolve from a subsistence-level existence.
In emerging countries, purchasing a television set comes first even ahead refrigerators, electricity since their TV set operate by use of a car battery , and other items for instance, showers Samli, For emerging countries, a television set may cost relatively low considering its entry-level price.
All kinds of payment from his parents. Therefore, he has limited budget and sometimes has to shorten on the other parts to satisfy a particular purchasing like to purchase a pair Timberland shoes that is priced at RM Age is a powerful determinant of consumer behavior. And they will shift to more qualitative than quantitative on choosing things. Like other guys, Steve does care about how people feel about his looks especially the girls, the well-known brands and mid-to high priced products become the most popular alternatives from his point of view even though there is not enough money budget.
And his budget is getting better too. There is more budget for him to use to purchase things that he likes, but he mentioned that a pair of Timberland still a big purchasing item for him. Life-style is measured by the attitudes, interests and opinions of consumers.
Steve has a positive attitude about life, although he worries about some common problems and situations that people worry at the same age. He always tells people — do not buy things depend on the price cheap or not, but to concern whether that product has the extent value for future and long term.
Products that he wants to buy all depends on such a belief. He is some in principle oriented type, these individuals are guided in their choice by their beliefs and principles rather than by feeling, events or a desire for approval.
So he is some in the action oriented experience type. If the company has selected its target market and position carefully, then its marketing mix strategy, including price, will be fairly straight forward.
The objective of timberland is product quality leadership. They decide the products have to achieve product quality leadership. Timberland targets their athlete series mainly on the people aged years. And the most important thing is this group of people they are easy to learn about the new information or to accept the new features about the product, that means, easy to change to the new product that the company introduce, they are also willing to pay such a high price compares with other brands.
Usually, when people mentions about Timberland, the good quality comes first and then the high price. Therefore, the information about the timberland that people ready kept in mind a certain point. I pay for it because it worth.
Steve bought the shoes in a franchised store of a big shopping center and he mentioned that the previous purchasing was in KLIA franchised store. The reason why Timberland put the stores in big shopping center and airports still because of its targeting and product positioning. They identify and analysis the segment of the market, the targeting customers are those who are in the higher standard level of living class the places they normally go for shopping things are also in the higher standard place.
There are a few of competitors in the marketer, but Timberland stands on several competitive advantages. At the first, it has the much higher quality than its competitors compare under the pricing, then they give the very good and comfortable environment to their customer in every store, this is a important inference; they also give the excellent services after the buying like you can bring your Timberland shoes to any of the Timberland store to clean them for free and if something wrong with the shoes they will repair it for free, in some situation the customer may get a new pair of shoes for replacement.
After all this through a longtime period, people will remember timberland as a trusted brand. Part 3 Consumer decision process As usual, the customer decision process begins with the problem recognition.
A difference between an existing state and a desired one become a consumer problem, a consumer begins with a particular state of mind that represents his or her perceptions of and attitudes forward known brands. For example, consider a business school student who is thinking of purchasing a personal computer. Once the problem has been recognized, an information search is undertaken to isolate an effective solution.
After the information has been gathered, allowing the consumer to determine and compare the relevant and feasible alternatives, the decision can be made. The attributes that influence store choice are examined, and related to the needs of particular consumer groups. The actual acquisition of the product is analysis, with particular attention given to retailers efforts attract and satisfy consumers in the exchange process.
The consumption process occurs within 3 categories: Refer to table 1. Refer to table 2. Purchase involvement is a continuum, and it is also useful to consider habitual, limited and extended decision making as general decryptions of the types of process that occur along various points on the continuum.
Extended decision making is the response to a very high level of purchase involvement shopping product. The recognition of a problem is the result of a discrepancy between a desired state and an actual state, without if there is no need for a consumer decision.
Both active and inactive problem occurs in the consumer problems. Information search involves mental as well as physical activity on the part of consumers. The use of information from memory is referred to as internal search. And, the search process is focused on external stimuli relevant to soloing problem is called external search.
A consumer decision requires the appropriate evaluative criteria for the solution of a problem. As for the Malaysian consumer, the ethical disciplined is more in the line of Islamic perspective and their culture itself. For example, the problems of halal product, this is clearly shown that the Malaysian consumer is really aware with it which shows the good ethical conduct.
As for the other races, their ethical is shown when it comes to the problems of the product itself such as price and the quality. From the Western perspective, the ethical conduct is more on individualistic behavior that is really cross culture with the Malaysians behavior. However, all the principle of Western and Malaysian is actually can influenced to the customer in Malaysia by having a different knowledge of studies and ethical conduct.
Firstly, the most importance of having this research paper is to create awareness to Malaysian consumer towards developing of good morals and behavior. Depending on the research, we can see the need and the behavior by having the questionnaires given to them. As we stated in the introduction, consumer ethics is study about their behavior, moral and beliefs, it is clearly shown why we having this research paper.
Secondly, the importance of this research paper is to give knowledge to consumer what is ethics all about and how to react to it. Even in Islamic teaching itself stressing about the use of ethics in daily life. This is because; ethics can lead a consumer to behave in a right behavior. Thirdly, as we can see in the set of the questionnaires, we had asked about their personal details whether female or male, this is to find a differentiation of ethics between them. Who is more ethical?
Ethics is one of the fundamental in doing business transaction.
The study of consumer behavior involves elements of economics, the social sciences, and the physical sciences. An endless and diverse field of research and applications, consumer behavior.
Part 1: Executive Summary This research paper explains the decision making process, the internal and external factors that have influences a "high involvement".
This sample research paper written on consumer behavior will help improve your understanding of branding and risk aversion in marketing.5/5(1). Free consumer behavior papers, essays, and research papers.
Essays - largest database of quality sample essays and research papers on Research Papers On Consumer Behavior. Future studies of the consumer behavior research literature can also investigate authorship of the articles, including which authors have had what impact on the discipline and which scholars from which institutions have been productive in terms of consumer behavior publications.