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The given case of Coca Cola which is largest beverage firm and leading producer of soft drink, millions of people are employed who are working under them.
- Develop ability to map a path related to the study comprising of decision making process
- Evaluate different form of research to determine influence on the decision making process of Coca Cola
- Conduct study of how marketers influenced by the different stages of decision making process at Coca Cola.
Their are different kind of process regarding which decision making has been understand by customers and on the basis of which knowledge can be enhance. Further, there are various evaluation of substitutes along with their needs of recognition from research and buy various goods and services that has been manufactured. Apart from it, in order to grow in particular market place company require to make changes in their existing products and services that allow them to take competitive advantages over competitors. Under this assignment the company which is preferred i.e. which is Coca-Cola UK based largest beverage company and is the leading producer and marketer of soft-drinks and it comprises of millions of employees that provide their services at global level (Ali, A., and et. al. ,2011). Further this assignment discuss about the stages of consumer decision making, understanding the consumer decisions, key differences in decision making process, key approaches to marketing research or methods and factors that influence the decision making under the process of B2B and B2C which help in accomplishing the goals of business.
P1 Stages of consumer decision making journey
Consumer behaviour can be described as process under which there are many process are undergo in which consumer go through many steps and thus then they have to make purchase and it generally involves different kind of factors that will influence the decision making of organisation and on the basis of which they are being utilised. Further, there are mainly involvement of five steps which are involved in the whole process of decision making. Further these steps are mainly related to the need of recognisance, search of data, evaluation alternatives purchase available and post behaviour of clients. Further these steps guide the marketers how they effectively communicate with various customers by the help of effective funnel. Further there is one things that consumers does not move within the exact order within particular process. Apart from it, this mainly depend upon type of product consumer is using along with their financial status and performances. Five kind of stages which are describe below:-
- Need recognition:- The first step plays an vital role in overall operation of business and helpful in decision making process of customers. Under this there is important to have proper understanding of needs on the basis of which they are mainly taken and there is element called need on the basis of which actual purchase of product and services are made. In case of Coca-Cola they will provide flavours drinks to their target audiences and taste and standard quality of product differentiate it from other competitors and provide competitive edge over competitors.
- Research and collect information:- This is consider as second stage after recognising needs and the main role played under it is related to collection of data and information from various sources and evaluate them in such way which will provide maximum return in future. Buying decision of costumer is generally based on the quality and features that providing by firm compare with their expectation and on the basis of which buying decision has been made. In case of Coca-Cola company research regarding the taste and new flavour customer want in their products on the basis of which they satisfy niche demand of customers.
- Evaluation of alternatives:- Their are different kind of ways or alternatives through which needs and requirement of customers can be evaluated and the improvement they made in their product and services through which they satisfy the needs of customers. Further improvement can be done on the basis of quality, price and innovative feature made in respect of their goods and services. Further, example can be taken from coca-cola company in which innovative drinks has been developed by company on the basis of which they satisfy needs and wants of customers (Bruwer and Buller ,2012).
- Actual purchase of products:- Under this stage decision has been taken by costumers regarding what they have to purchase and what they not purchase. This will being examined and determined by all the data they have collected in order to purchase the products and services which help in satisfying needs and desire of customers at optimum manner. For example Coca-Cola drinks are examined properly and on the basis of which individual finalise the products services which he or she mainly will buy the products according to their budget in order to satisfy the needs of costumers.
- Post purchase evaluation:- This is the last step under which decision has been taken by considering all the facts and elements. Further they is also examination regarding all over performance of workforce and feedback they get from costumers in which all the strengths weaknesses in respect of product has been evaluated and on the basis of all opinion overall improvement has been made which leads to better decision making.
Therefore, it is essential for Coca-Cola to consider all the above stages in or