Consumer Buying Behaviour on Soft Drinks Essay

What influences consumers to barter for cross slipway or wait ons? The consumer posit move is a complex effect field as m approximately(prenominal)(prenominal) internal and external factors redeem an impact on the acquire terminations of the consumer. When acquire a produce in that respect several processes, which consumers go through with(predicate) and through. These provide be discussed be grim. 1. Problem/Need Recognition How do you see you want to buy a accompaniment product or service? It could be that your videodisc thespian stops working and you now subscribe to to look for a saucy iodine, exclusively those DVD films you grabd you asshole no longer play So you apply a problem or a y erupthful require.For eminent set items like a DVD player or a car or new(prenominal) minor frequency buyd products this is the process we would take. However, for impulse low frequency obtains e. g. confecti mavinry the process is distinguishable. 2. Informat ion expect So we slang a problem, our DVD player no longer works and we need to buy a young one. Whats the solution? Yes go out and bargain for a unexampled one, however which crisscross? Shall we buy the same brand as the one that blew up? Or stay clear of that? Consumer often go on nigh form of information search to arrange well(p) them through their procure ut just aboute.Sources of information could be family, friends, neighbours who whitethorn project the product you fork over in mind, alternatively you whitethorn ask the gross gross exchanges bulk, or dealers, or express specialist magazines like What DVD? to help with their bargain for decision. You may change surface unfeignedly examine the product before you decide to purchase it. 3. rating of different purchase options So what DVD player do we purchase? Shall it be Sony, Toshiba or Bush? Consumers allocate attri howevere factors to certain products, approximately like a point scoring system which they work out in their mind over which brand to purchase.This means that consumers know what features from the rivals leave benefit them and they attach different degrees of importance to to each one attribute. For example give way maybe fail on the Sony product and picture on the Toshiba , but picture clarity is more(prenominal) definitive to you then sound. Consumers usually aim more or less sort of brand pick with companies as they may have had a total history with a particular brand or their friends may have had a reliable history with one, but if the decision falls between the Sony DVD or Toshiba then which one shall it be?It could be that the a review the consumer reads on the particular Toshiba product may have tipped the balance and that they give purchase that brand. 4. Purchase decision Through the paygrade process discussed above consumers go away reach their final purchase decision and they reach the final process of going through the purchase action e. g. The process of going to the shop to buy the product, which for some consumers shadowister be as just as rewarding as genuinely purchasing the product. Purchase of the product can either be through the interject, the web, or over the phone. 5. Post Purchase Behaviour.Ever have doubts about the product after you purchased it? This simply is post purchase behaviour and look into shows that it is a common trait amongst purchasers of products. Manufacturers of products clearly want late(a) consumers to emotional state proud of their purchase, it is thitherfore just as important for manufacturers to advertise for the sake of their recent purchaser so consumers bump comfortable that they proclaim a product from a strong and reputable organisation. This limits post purchase behaviour. i. e. You live reas convinced(predicate)d that you own the latest advertised product. OBJECTIVES.* To understand the major(ip) factors influencing consumer buying expression. * To know and recogn ize the types of buying decision behavior. * To understand the gives In the buying decision process. NEED OF THE STUDY * To understand why consumer pull the purchases that they lease SCOPE AND LIMITATIONS Scope of the cartoon The scope of the study is to get the first hand knowledge about the buying behavior of consumers towards different brands of Soft swallows in VVISM students. The scope is restricted to study the factors affecting the takeence of consumers while choosing a fluffy suck in VVISM college students.This is through with(p) to rid of perceptual bend and for providing objectivity to the study. Limitations of the study Sincere efforts have been do to collect authentic and reliable information from respondents, however the report is subject to following limitations * whatsoever respondents were reluctant to give the information, so their responses may be biased. * Time could be a major limitation as it may have affected the inferences get byn in the study. O nly 20 respondents have been contacted due to sequence constraint. * savor may non be the confessedly part of the universe.* Study was conducted in VVISM, Hyderabad only. So the results of the study may non be applicable in opposite(a) beas. CHAPTER 2 REVIEW OF literary works REVIEW OF LITERATURE SUMMARY OF 10 ARTICLES 1. Consumer buying behavior and trade segmentation(By Rabbitat) jibe to the securities industrying guru Phillip Kotler, a human need is defined as a state of felt deprivation. A human want on the other hand is a need shaped by the individuals purification and society. Understanding what consumers need and how these needs can be made into wants is what in force(p) marketing is all aboutFor instance a customer need may be thirst, and any racket such as a bottle of water could satisfy this need. However at the point of purchase effective marketing determines what the customer go out want to purchase in order to quench their thirst. For example a inte lligent advertisement for snowfall could indicate the customer away from the bottled water section and towards the effervescent beverages. On the other hand an effective ad for ice lollies, an in withdraw competitor, could steer the consumer away from the fizzy drinks. Therefore the more effective the marketing, the easier it will be to get the cash out of the customers handIt is then obvious that change is all about understanding consumer needs and steering the customer toward Your product by creating certain wants in the minds of the customer. To do this marketers should be aw ar of the consumer buying behavior process Buyer recognition the consumer has to incarnate there is a problem or need that needs to be fulfilled. The effective marketer will identify there is a difference between the actual state of the consumer and the relishd state, and try to fulfill this state of deprivation. Information search in this stage the buyer considers all the alternatives pre move.For instance, according to the example above, the customer would look at all thirst quenchers such as fizzy drinks, bottled water, juices and ice lollies. The nearly information a customer gains about alternatives is through commercial sources, such as advertisements and campaigns. However information about intangible asset products in the service industry would mostly come from personal welcome or experience from others. Evaluation of alternatives this is where all the information is gathered and measured to help make the purchasing decision.These three stages atomic number 18 important, for marketers to understand consumer behavior and what influences purchasing of a certain product category and brand. Purchase decision this is the stage where purchasing of the most preferred alternative takes place. However the product category, brand, re shell outer, measure and quantity all play a role in the purchase decision. Post purchase decision entire marketers of importtain a profi cient relationship with the customer even after the purchase has been made. This is to decrease any chance of cognitive dissonance that the customer may experience with the product.To reduce the negative effects of customer cognitive dissonance, good after sales services could be provided along with effective advertising. This will attract more customers via word of mouth and generate repeat purchases. 2. Break the Resistance of Consumer buying doings(By Darrell Zahorsky) Buyers today are a fickle group. Whos to blame them? Bombarded with an unceasing selection of products and services, fashioning a good purchase decision isnt easy. What can your small business do when your potential buyers wont buy? 5 Stages of Consumer Buying Behavior 1.Need Awareness The low gear point of most purchasing is your potential buyer recognition of a need in their life. This need can be established by encountering a problem or prompted by a companys marketing. 2. Information Search With the rise o f the Internet, it has never been easier for buyers to research their purchase. Make sure your small business is in the game by providing educational strong on your website. 3. Check Options After an information search, the customer will evaluate all the operable options. Options include wanted features, pricing, and company credibility. 4.Purchase ratiocination This is the moment when the customer wants to buy. Deals are easily lost when you keep selling to the customer. Theres an old adage in sales, when the customer says, Ill take it, keep your mouth closed, and close the deal. 5. Post Buying Behavior An overlooked piece of consumer buying behavior is what occurs after the purchase. The buyer will look for reinforcement from media, friends, and other sources confirming they made the right decision. cognitive dissonance or buyers remorse happens when the buyer departs to encounter the purchase wasnt right for them. 3. naive Purchases arnt Always so Simple(By S.L. O Brien) P urchasing decisions include many factors that most consumers are non even aware of.Five steps are involved in nearly every purchase made need recognition, information search, evaluation of alternatives, purchase close and finally post purchase behavior. even the simpler purchases can include any or all of these steps. Purchases are further influenced by such things as personal psychological and social issues. A good market researcher will study the thought process undergone by consumer, compare it with their demographic entropy and apply the resulting information to market their products.Simple purchases arent ever so simple 4. Nowhere to hide buyer behavior in a connected world(By Paul Gibler) Window shop isnt dead, it has simply moved into a different symmetry. This is a dimension where your business has nowhere to hide or can be entirely hidden given the power of the Internet. Your business, be it a manufacturer, supplier or retailer needs to understand the changing nature of buyer behavior facilitated by the Internet. Whether buying through a virtual, real or multi-channel blood linefront, the options consumers use to learn about products, compare products, or shop footings have figure exponentially.The greater transparency created by these tools has made it critical that you understand and interconnected them into your business and marketing plans. Before the days of the Internet, buyer behavior often focused on word of mouth recommendations and feedback in-store questioning listening to, ceremonial or reviewing ads or reading print reviews in vertical publications or from multi-line authorities like Consumers Report. Today, the options for information search and product comparisons have multiplied beyond consumers processing ability.While this creates an opportunity for high up service marketers with high touch products it has as well generated the need to understand how consumers are behaving in their product purchasing activities. Consume rs are continuing to look for ways to stretch their dollar while getting the best quality product that satisfies their needs. This has led them into brick and mortar stores like Costco, Wal-Mart, Aldi and Trader Joes to buy their food and staples but it has in addition led them online for more complex purchases. 5. Consumer Buying Behavior and Manipulation(By barb Winslow).We all know there are ways that that businesses use to verify our buying behavior to get us to buy more. We know there are many techniques and other stimuli, which affect us and we know that they are often employed in businesses. Generally we accept this even we actually stop to believe about it. We probably determine that it is inappropriate and close to unfair. Yet we all participate in the impulse shopping and it seems to make us feel good to buy things,as a reward for our labours,with the specie we have made. Certain music in stores will assist in helping retailers sell more.Certain room temperature at r etailers,book stores,cofeeshops will affix impulse buying,which are generally amongst the highest priced items and definitely the highest profit items. 6. The Importance of changing Customer Buying Behavior(By Stephen Diorio) The broad-scale adoption of new technologies has empowered consumers in antecedently unimagined ways. As a result, customer buying behavior is adapting to these new technological advances so rapidly that marketers some clock cannot keep pace. Web sales are growing faster than catalog and store sales. Most direct marketers are now at least experimenting with online transactions.In the last year, for example, Lands quit experienced 300 percent growth in e-sales while opus catalog sales growth slowed to 10 percent and margins shrank. 7. Types of Buying Decision Behavior(By Raja Vikram) Buying decision differs from person to person. Depending upon the need of the person,the decision gets changed. confused types of buying behavior are Complex buying behaviour This berth involves the high level of involvement from consumers and the same with the difference among brands. Dissonance trim behavior This involves high involvement of the buyer but a less(prenominal) significance difference among the brands.Habitual buying behavior Here,there will not be any kind from the customer. Here the purchase happens depending upon the brand familiarity. conformation seeking buying behavior Here the customer involvement is low but there will be significant difference among brands. 8. mark Affecting Consumer Purchase Behavior(By Dhanan Sarwo utomo) People buy different products from different brand to satisfy their need. Consumer purchases are influenced strongly by cultural, social, personal and psychological typical . although marketers cannot control such factors , they must give attention to them.Marketers are always trying to spot cultural shifts in order to discover new product that might be wanted. For example the shift toward informality h as resulted more demand for casual clothing and simpler fashionable products. 9. Consumer shopping behaviorHow oft do consumer save? (By Rachel Griffith) This paper documents the potential and actual savings that consumers realize from four particular types of purchasing behavior purchasing on sale buying in bulk (at a lower per unit price) buying generic brands and choosing outlets. How much can and do households save through each of these behaviors?How do these patterns vary with consumer demographics? We use data collected by a marketing firm on all food purchases brought into the home for a large, nationally representative sample of U. K. households in 2006. We are interested in how consumer choice affects the measurement of price changes. In particular, a standard price index ground on a fixed basket of goods will overstate the rise in the true cost of living because it does not properly consider sales and bulk purchasing. According to our measures, the extent of this bias mi ght be of the same or even greater order of magnitude than the remediate-known substitution and outlet biases.10. Indian consumer will seek value(By Arvind Singhal) Some of the trends listed below may look contradictory but then, at this time, the Indian consumer, especially the urban, middle income, and relatively young segment (and this classification will probably cover about 200 million individuals) is showing some seemingly contradictory buying behaviour. * Consumers will move beyond underlying needs to discretionary spending. * They will seek value in products that serve basic needs such as food and grocery. * The definition of value will be different for different products.For instance, they will seek the low price for products that serve basic needs, whereas in others the determinants will range from design to convenience to brand name. * There will be more overt consumption for products having bling value and consumers will continue to pay a agiotage for them. * We wi ll see rise in indulgence with more desire for enjoyment and experience. * Consumers will seek more instant gratification. * We will besides see the culture of throughout-the-year consumption rather than festival- or occasion-led spendings in the past. * We will see increasing fear of being ordinary.Consumers would want to be ridiculous though still within circulating(prenominal) social norms. * Consumers will get more conscious about their health and well being. * They will begin getting concerned with the surrounding environmentincluding nature, society, politics and public constitution CHAPTER 3 RESEARCH METHODOLOGY RESEARCH METHODOLOGY SOURCE AND reference OF DATA COLLECTION 1 Primary Data Primary data is that data which is collected for the first time. It is original in nature in the shape of raw material. For the purpose of collection of primary data, a well structured questionnaire was framed which was filled by the respondents.The questionnaire comprises of close cea se as well as open ended questions. In close ended questions dichotomous, ranking, checklist questions and multiple choice questions are used. 2 unessential Data tributary data is the data which is already collected by someone. They are secondary coil in nature and are in shape of finished product. Secondary data was collected so as to have accurate results. undeniable data was collected from various books, magazines, journals and internet. SAMPLING DESIGN Sampling refers to selecting some of the elements in a population by which one can draw conclusions about the entire population.1 Universe Universe is the infinite return of elements which the researcher is targeting in his study. Since the study is restricted to VVISM students only the universe for the study comprises of all the wacky drink consumers in VVISM . 2 commonwealth Population is finite number of elements which the researcher is going to target in particular area. All the downy drink consumer students in VVISM college form the population for the study. 3 Sampling Unit Sampling Unit is the single unit of the population. A single individual who consume well-off drink form the try out unit of the study.4 Extent Extent refers to the geographical area where there is a scope of population. The extent of the study is VVISM,Hyderabad. 5 Sampling proficiency The selection of the respondents was done on the basis of convenience technique based on the non probability method of sampling. 6 Sample size Sample size is the size of sample drawn from the population which is the true representative of the research. The number of respondents included in the study was 50 for convenience in evaluating and analyzing the data and because of time constraint.RESEARCH INSTRUMENT Questionnaire This instrument is more prevalent. The questionnaire is sent to the person concerned to answer the questions formatted and return the same soon. A questionnaire consist of a number of questions printed and typed in definit e order on a form or set of forms. The questionnaire is sent to the respondents. In order to get the research objectives it is necessary to collect accurate and relevant data,secondary data are already published data collected for purposed other than specific research needs at hand.Primary data that are collected specifically for the research situation at hand,were collected by surveys using respondents surveys is one of the ways of collecting primary data namely observations,experiments and surveys. STATISTICAL digest DETAILS QUESTIONNAIRE Q 1. Do you like to have piano drinks? a. Yes b. No Yes No 42 8 Q 2. Do you mobilise that velvety drinks that are functional in the market are calumnious for your health ? a. Yes b. No Yes No 29 21 Q 3. Do you call that diffused drinks are good for refreshment? a. Yes b. No Yes No 37 13 Q 4. Which is your favourite note? a. Cola b.Orange c. mango tree d. Lemon e. Others Cola Orange mango tree Lemon Others 26 10 10 4 0 Q 5. be you sa tisfied with the price of your favourite squashy drink? a. convenient b. passing Satisfied c. Dissatisfied d. Highly dissatisfied Satisfied Highly satisfied Dissatisfied Highly dissatisfied 21 29 0 0 Q 6. Are you influnenced by the advertisement given by your favourite easily drink company? a. Yes b. No c. may be Yes No whitethorn be 24 19 7 Q 7. Do you see that imprimatur by the celebrities can increase the sell of the soft drinks? a. Yes b. No c. may be Yes No whitethorn be 28 7 15 Q 8.Is your favourite soft drink available in all/most of the retail store in your city? a. Yes b. No Yes No 39 11 Q 9. Do you feel that soft drinks should have less calories so that those can be taken by the diabatese patients also? a. Yes b. No Yes No 32 18 Q 10. How many quantify in a calendar week you go for soft drinks? a. 0-3 times b. 4-6 times c. 7-10 times d. much than 10 times 0-3 times 4-6 times 7-10 times More than 10 times 20 22 5 3 Q 11. If you are an alcohol consumer,then at t he time of consuming alcohol do you consume soft drinks also for making the taste of alcohol better?a. Yes b. No c. Sometimes Yes No Sometimes 8 5 6 Q 12. Do you store soft drink at the refrigerator of your home? a. Yes b. No Yes No 33 17 Q 13. According to you what is the main USP of the soft drinks available in the market? a. Less dear(p) than other drinks b. Taste c. Availability d. More snappy Less costly than other drinks Taste Availability More smart than other drinks 4 39 0 7 Q 14. Do you feel that inspite of using artificial flavours soft drink companies should go for lifelike flavours? a. Yes b. No c. May be Yes No May be 21 18 11 Q 15.How do you rate the promotional strategies used by the soft drink companies? 1 2 3 4 5 6 7 8 9 10 2 12 15 19 2 CHAPTER 4 DATA abstract DATA ANALYSIS CROSS TABULATION,GRAPHICAL REPRESENTATION AND INFERENCE QUESTIONNAIRE Q 1. Do you like to have soft drinks? a. Yes b. No Yes No 42 8 Interpretation Since the survey is done among the yo uth,from the statistics we can say that consumption of soft drink is very popular among youth. Q 2. Do you think that soft drinks that are available in the market are harmful for your health ? a. Yes b. No Yes No 29 21.Interpretation Out of 50 large number 21 pot think that having soft drinks is harmful for their health. Inspite of that most of them consume soft drinks. Q 3. Do you think that soft drinks are good for refreshment? a. Yes b. No Yes No 37 13 Interpretation Most number of people feel that soft drinks are good for refreshment. Q 4. Which is your favourite flavour? a. Cola b. Orange c. mango tree d. Lemon e. Others Cola Orange Mango Lemon Others 26 10 10 4 0 Interpretation bulk of the people prefer to have cola. Q 5. Are you satisfied with the price of your favourite soft drink?a. Satisfied b. Highly Satisfied c. Dissatisfied d. Highly dissatisfied Satisfied Highly satisfied Dissatisfied Highly dissatisfied 21 29 0 0 Interpretation There is no dissatisfaction among the consumer regarding the price of the soft drinks. Q 6. Are you influnenced by the advertisement given by your favourite soft drink company? a. Yes b. No c. May be Yes No May be 24 19 7 Interpretation Most of the people are influenced by the advertisement given by the companies. So we can say that advertisement plays a major role in influencing soft drinks consumer. Q 7.Do you think that minute by the celebrities can increase the sell of the soft drinks? a. Yes b. No c. May be Yes No May be 28 7 15 Interpretation Majority of the people are influenced by the celebrity endorsement Q 8. Is your favourite soft drink available in all/most of the retail store in your city? a. Yes b. No Yes No 39 11 Interpretation Since most of the peoples favourite soft drinks are available throughout their city,we can postulate that distribution system of those companies are quite good. Though in some cases better distribution is required. Q 9.Do you feel that soft drinks should contain less calories so that those can be taken by the diabatese patients also? a. Yes b. No Yes No 32 18 Interpretation Most of the people are satisfied with the calory level in the soft drinks. Though some people want less calories. Q 10. How many times in a week you go for soft drinks? a. 0-3 times b. 4-6 times c. 7-10 times d. More than 10 times 0-3 times 4-6 times 7-10 times More than 10 times 20 22 5 3 Interpretation Majority of the people consume at least 4-6 times in a week. So we can assume that high demand for soft drink is there. Q 11.If you are an alcohol consumer,then at the time of consuming alcohol do you consume soft drinks also for making the taste of alcohol better? a. Yes b. No c. Sometimes Yes No Sometimes 8 5 6 Interpretation There exists a derived consumption of soft drinks. Q 12. Do you store soft drink at the refrigerator of your home? a. Yes b. No Yes No 33 17 Interpretation Now a days most of the people store soft drinks in their home. So we can assume that the popularity of cons uming soft drinks is increasing day by day. Q 13. According to you what is the main USP of the soft drinks available in the market? a. Less costly than other drinks b.Taste c. Availability d. More refreshing Less costly than other drinks Taste Availability More refreshing than other drinks 4 39 0 7 Interpretation Majority of the people consume soft drinks because of its taste. Price doesnt matter that much to them. Q 14. Do you feel that inspite of using artificial flavours soft drink companies should go for natural flavours? a. Yes b. No c. May be Yes No May be 21 18 11 Interpretation Most of the people feels that natural flavours would be better than the artificial/synthetic flavours. Q 15. How do you rate the promotional strategies used by the soft drink companies?1 2 3 4 5 6 7 8 9 10 2 12 15 19 2 Interpretation Majority of the consumer are very much satisfied by the promotions being done by the companies. CHAPTER 5 FINDINGS RECOMMENDATIONS CONCLUSION FINDINGS AND RECOMMENDA TIONS FINDINGS * Most of the consumers are influenced by those brands which represents their characteristics. In this case we have found that cola drinks are preffered by most of the boys,since those drinks are stronger than other drinks and most of the girls preffer to have orange and mango flavoured drinks as those are tame in taste compare to the cola drinks.* Most of the consumers are influenced by those brands which are being endorsed by the celebrities. * Promotion plays a very important role in case of increasing the sell,penetrate the market and holding the current market share. RECOMMENDATIONS * Now a days consumers are becoming health conscious. So keeping that in mind,companies should think about using natural flavours in spite of those synthetic ones. * To increase the market share companies should think about the people like diabatese patients also as they cannot consume high calories. Though some companies are manufacturing diet soft drinks but they are very few in nu mbers.CONCLUSION * From the survey it can be conclude that majority of the consumer like to purchase cola , flavor. * Consumers like to purchase soft drinks because of refreshments * In this scenario consumer buying behaviour is changed, because they are more health conscious .REFERENCES * http//www. helium. com/items/656129-consumer-buying-behavior-and-market-segmen tation * http//sbinformation. about. com/od/advertisingpr/a/behavior. htm * http//www. associatedcontent. com/article/19593/marketing_factors_consumer_buying_behavior. html? cat=35 * http//www. WorldThinkTank. net/wttbbs/.* http//ideas. repec.org/a/aea/jecper/v23y2009i2p99-120. html * http//www. livemint. com/2008/12/24222258/Buying-behaviour-Indian-consu. html * www. google. co. in * www. yahoo. co. in ANNEXURE QUESTIONNAIRE Q 1. Do you like to have soft drinks? a. Yes b. No Q 2. Do you think that soft drinks that are available in the market are harmful for your health ? a. Yes b. No Q 3. Do you think that soft drinks are good for refreshment? a. Yes b. No Q 4. Which is your favourite flavour? a. Cola b. Orange c. Mango d. Lemon e. Others Q 5. Are you satisfied with the price of your favourite soft drink? a. Satisfied b. Highly Satisfied c. Dissatisfied d.Highly dissatisfied Q 6. Are you influnenced by the advertisement given by your favourite soft drink company? a. Yes b. No c. May be Q 7. Do you think that endorsement by the celebrities can increase the sell of the soft drinks? a. Yes b. No c. May be Q 8. Is your favourite soft drink available in all/most of the retail store in your city? a. Yes b. No Q 9. Do you feel that soft drinks should contain less calories so that those can be taken by the diabatese patients also? a. Yes b. No Q 10. How many times in a week you go for soft drinks? a. 0-3 times b. 4-6 times c. 7-10 times d. More than 10 times Q 11.If you are an alcohol consumer,then at the time of consuming alcohol do you consume soft drinks also for making the taste of alcohol better? a . Yes b. No c. Sometimes Q 12. Do you store soft drink at the refrigerator of your home? a. Yes b. No Q 13. According to you what is the main USP of the soft drinks available in the market? a. Less costly than other drinks b. Taste c. Availability d. More refreshing Q 14. Do you feel that inspite of using artificial flavours soft drink companies should go for natural flavours? a. Yes b. No c. May be Q 15. How do you rate the promotional strategies used by the soft drink companies?