final exam subject consumer behavior

Consumers want to experience new technology and improvetheir performance.- Extrinsic stimuli: Know about new phone products through TV ads, socialnetworks, or recommendations from acquai

MINISTRY OF FINANCE

UNIVERSITY OF FINANCE – MARKETING

FINAL EXAM

SUBJECT: CONSUMER BEHAVIOR

TABLE OF CONTENT

I Introduction 2

II Influence on the decision behavior of customers 2

1 The path to purchase through storyboard 2

2 The factors influencing consumer attitudes 5

3 Consumers at each stage of the map make a purchase .6

a Problem recognition and Information search 6

b Evaluation of alternative 7

c Purchase 7

d Post – purchase rating 8

4 How are the factors of the marketing mix that influence thedecision-making process? 8

c Price adjustment strategy 10

d Distribution channel policy 10

e Mixed promotion policy 10

III Conclusion 12

2I INTRODUCTION

E-commerce is no longer a foreign notion for many people in today's digitaltechnology age 4.0 due to the Internet's tremendous growth and the rapid

development of digital technology Due to the great economic efficiency that onlinebusiness or online sales have given to many firms, the growth of e-commerce hasemerged as the retail industry's future trend.

The Vietnamese retail industry is seen as having great potential and isexpanding quickly, luring many international organizations and enterprises toinvest However, following the COVID 19 epidemic, consumers shifted from doingtheir shopping in-person to doing it online, making the retail sector's digitaltransformation an unavoidable trend for many enterprises overall, according to FPTShop private Effectively utilizing consumer data sources will produce certaincompetitive advantages Realizing this, FPT Shop focuses its building anddevelopment efforts on the idea that combining retail and e-commerce (offline andonline) would enhance the quality of care provided take care of consumers,assisting them in obtaining information and making quick and simple purchasesII INFLUENCE ON THE DECISION BEHAVIOR OF CUSTOMERS1 The path to purchase through storyboard

Below is a table describing the buying decision stage of a customer when theybuy a phone at FPT Shop:

Stage Consumer Action Factors affecting

1 Perception See ads on TV or social networksabout new phones at FPT Shop.

Direct advertising, intrinsicagent, exposure toinformation.2 Learn Search on the FPT Shop website or

Google about "phone [Model Name]FPT Shop.”

Search online for informationfrom the official website andproduct reviews.

3 Review Read user reviews on the FPT Shopwebsite and watch unboxing videosand reviews on YouTube.

Reviews from otherconsumers, video tutorials,and reviews.

4 Delimitation Compare prices and features withother models or the same model inother stores Find out aboutpromotions or warranties.

Price, features, promotionaloffers, warranty,

accompanying gifts.

5 Shopping Visit FPT Shop to view products inperson and buy or order online.

In-store experience,consulting services, paymentconditions, and promotions.6 Post-purchase

Write reviews on the FPT Shop websiteor social networks; Share photos andusage experience with friends.

User experience, productquality, and servicesatisfaction of FPT Shop.

- Intrinsic stimuli: Feel the old phone's staleness, slowness, or out-of-datefunctionality Consumers want to experience new technology and improvetheir performance.

- Extrinsic stimuli: Know about new phone products through TV ads, socialnetworks, or recommendations from acquaintances They do not yet knowthe true features and value of the product.

Learn about the product- Specifications and features:

FPT's products are defined as products of clear origin and quality,genuine origin, so consumers have confidence in FPT's products.The phone has a powerful processor, large RAM, and large internalmemory.

The high-quality camera supports 4K video recording.OLED screen, waterproof, dustproof.

Performance and efficiency

- Helps to experience the game, watching videos smoothly.- Buffalo battery, fast charging.

- Sold at different prices depending on model and archive.

- Promotions such as 0% installment payment, free headphones, or cases.Based on the above analysis, we can conclude that although the mobilephone product and the consumer target are different, the consumer's buyingpath still follows a similar process This provides a framework forbusinesses when formulating their marketing strategy, helping them betterunderstand the behavior and purchasing decision process of their customers.

2 The factors influencing consumer attitudes

Stage Cultural Factor Social Factors Personal factors Psychologicalfactors

Awarenessand Learn

Technology andModernity: Inmodern culture,smartphones aresymbols ofconvenience andmodernity.

Suggestions fromthe environment:Friends, family, andcolleaguesrecommend newphone models andexciting features.

Understanding offeatures, favoritebrands, and usageneeds.

The desire toupdate technology,the feeling ofwanting to keep upwith the trends.

Review andDiscernment

Brand value: FPTShop is a reliableand reputableaddress thatprovides mobilephones.

Technologystandards:Consumers wantphones withmodern featuresand qualitycameras.

Personalpreferences,favorite brands,and financialpossibilities.

The feeling ofwanting a new andmost modernproduct.

Stage Cultural Factor Social Factors Personal factors Psychologicalfactors

Shopping Trust in FPTShop: Due to theshopping cultureat reputablestores.

Tips and reviewsfrom marketingsources such associal media andTV commercials.

Decide based onprice, promotion,and warranty.

Feelings ofexcitement andanticipation aboutnew products.

Post-Compare theshoppingexperience at FPTShop with otherplaces in the sameshopping culture.

Share yourshopping and phoneexperience witheveryone aroundyou.

Personalevaluation ofproduct qualityand after-salesservice.

Feeling satisfied ifthe product meetsexpectations ordisappointed if theopposite is true.

3 Consumers at each stage of the map make a purchase.

a Problem recognition and Information search

- Cultural factors: In the modern environment, smartphones are not only acommunication tool but also a symbol of convenience and modernity This

means consumers will look for products with the latest and most advancedfeatures.

- Social factor: Recommendations from friends, family, and colleagues oftenhave a strong influence on purchasing decisions, so a phone model that ishighly praised can attract consumers' attention use.

- Personal factors: Knowledge of phones, favorite brands, and specific useneeds (e.g., photography, gaming) will shape their choices.

- Psychological factors: The desire to own the latest technology and thefeeling of not being left behind compared to current technology trends.b Evaluation of alternative

- Cultural factors: Consumers often trust big and reputable brands like FPTShop Shopping at a trusted place will help them feel more secure.- Social factor: In a digitalized society, owning a phone with modern

features and quality cameras has become the norm.

- Personal factors: Personal preferences, favorite brands, and financialability will shape shopping choices.

- Psychological factors: Consumers often want to buy the best productpossible within their budget, so they will consider and compare differentoptions before making a decision.

c Purchase

- Cultural factor: Trust in FPT Shop, based on its reputation and servicequality, will be an important factor that makes consumers choose to shophere.

- Social factors: Advertising and marketing campaigns from FPT Shop ontelevision and social networks can drive purchasing decisions.

- Personal factors: Based on their budget and ability to pay, consumers willchoose the most suitable phone model.

- Psychological factors: During the shopping process, consumers havefeelings of excitement, anticipation, and even nervousness when they are

8d Post – purchase rating

- Cultural factor: Consumers will compare their buying experience at FPTShop with other places or what they hear from others in the same shoppingculture.

- Social factor: Sharing the experience after purchasing and using a producton social networks or with friends is an important part of the consumptionprocess.

- Personal factors: Satisfaction with products and services after purchasewill determine whether they will return to FPT Shop in the future or not.- Psychological factors: The feeling of satisfaction when the product meets

their expectations or disappointment if the opposite will affect their nextpurchase decision and their recommending FPT Shop to others.

Therefore, each stage in the buying process is closely related to cultural, social,personal, and psychological factors FPT Shop, and any other business, need tounderstand these factors to optimize the customer experience and increase theirloyalty.

4 How are the factors of the marketing mix that influence thedecision-making process?

The Marketing Mix strategy for mobile phones at FPT Shop focuses oncreating a unique and attractive product for customers through specific productpolicies Here is an expanded and more detailed version of this strategy:

a Product policy- Design

Characterized by a curved screen with high resolution, creating anengaging and immersive experience for users.

Metal case or tempered glass gives a luxurious appearance, showing thesophistication and modernity of the product.

- Ingredient

Equipped with a powerful processor to ensure good performance,accompanied by a large amount of RAM and ample internal memory tosupport data and application storage.

The multi-lens camera system is integrated with excellent image quality,helping users to take professional and virtual photos.

The product uses a stable operating system that provides support forregular updates to ensure security and improve features.

- Packaging:

The product box has a unique and luxurious design, with clear productinformation and images, creating a strong impression right from the firstcontact.

- Uses

Mobile phones offer fast internet access, a wide range of entertainment,good photo and video capabilities, and convenient communicationthrough apps and messages.

In addition, the product also supports many other features such as GPSnavigation, mobile payment capabilities, and many other convenientapplications.

- Pack

The phone is carefully packed in a hard paper box, ensuring safetyduring transportation, and keeping the product in the best condition.Included in the box are chargers, headphones, and user manuals, makingit easy for users to get used to the product.

This Marketing Mix strategy creates a strong image of mobile phone productsat FPT Shop by optimizing key elements of the product to meet the needs anddesires of customers.

b Price policy

Price range: FPT Shop establishes a flexible price range to suit differentmodels and brands The selling price of mobile phone products can vary from 2

million to 40 million VND/bottle, creating diversity to meet the needs of marketsegments.

c Price adjustment strategy

Promotion: FPT Shop creates attractive promotions to stimulate shopping.Discounts from 10-30% are often applied on holidays, summer, year-end, or whennew products are launched, creating great motivation for shopping and increasingvalue experience for customers.

d Distribution channel policy

Distribution: FPT Shop's mobile phone products are available at all storesunder the system nationwide, along with their presence on FPT Shop's officialwebsite, bringing convenience to both offline and online customers

e Mixed promotion policy

- Advertising: FPT Shop uses various advertising channels such astelevision, newspapers, and social networks such as Facebook, YouTube,and Zalo to reach customers comprehensively and optimally.

- Promotion: In addition to discounts, FPT Shop offers attractive accessoriesor shopping vouchers, even providing added warranty services to createadditional value for customers.

- Direct marketing: Contacting via email, SMS or notification from theapplication helps FPT Shop reach and maintain close contact withcustomers.

- KOLs: Partnering with KOLs (Key Opinion Leaders) like celebrities, andYouTubers who specialize in technology to help increase acquisition andeffectiveness of marketing campaigns.

- Examples of cultural influences: In an increasingly digitized andtechnology-dependent society, owning a smartphone is not only a productbut also a symbol of individuality, convenience, and even stature.- Examples of reference group influence: Positive reviews from friends or

family about the quality of products and services at FPT Shop can make a

big impact on customers' purchasing decisions, as they tend to trust thoseclose to them and have practical experience.

- Example of the opinion leader role: Positive reviews from tech critics orreputable journalists can have a powerful impact on consumer opinion Keyrecognition from people with deep knowledge of technology and themarket is an important factor in driving trust and purchasing decisions atFPT Shop.

12III CONCLUSION

In other words, as technology develops, new business models are emergingthat put pressure on established company sectors, compelling them to swiftlymodify or adapt if they want to continue to expand sustainably steady.Businesses in the retail and business sectors must adapt their business modelsto keep up with trends and satisfy client expectations as a result of the newgeneration's different purchasing and consuming habits Businesses thatproperly use consumer data will acquire competitive advantages along with thegrowth of e-commerce and the digital economy.