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

3 LÊ HOÀNG MINH Y ID: 2121012278

Class code: 2321910007101

Lecturer: Ths NINH ĐỨC CÚC NHẬT

August 18, TPHCM

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 the decision-making process? 8

a Product policy 8

- Design 8

- Ingredient 8

- Packaging: 9

- Uses 9

- Pack 9

b Price policy 9

c Price adjustment strategy 10

d Distribution channel policy 10

e Mixed promotion policy 10

III Conclusion 12

I INTRODUCTION

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

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

The Vietnamese retail industry is seen as having great potential and is expanding quickly, luring many international organizations and enterprises to invest However, following the COVID 19 epidemic, consumers shifted from doing their shopping in-person to doing it online, making the retail sector's digital transformation an unavoidable trend for many enterprises overall, according to FPT Shop private Effectively utilizing consumer data sources will produce certain competitive advantages Realizing this, FPT Shop focuses its building and development efforts on the idea that combining retail and e-commerce (offline and online) would enhance the quality of care provided take care of consumers, assisting them in obtaining information and making quick and simple purchases

II INFLUENCE ON THE DECISION BEHAVIOR OF CUSTOMERS

1 The path to purchase through storyboard

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

Stage Consumer Action Factors affecting

1 Perception See ads on TV or social networks

about new phones at FPT Shop

Direct advertising, intrinsic agent, exposure to information

2 Learn Search on the FPT Shop website or

Google about "phone [Model Name]

FPT Shop.”

Search online for information from the official website and product reviews

3 Review Read user reviews on the FPT Shop

website and watch unboxing videos

and reviews on YouTube

Reviews from other consumers, video tutorials, and reviews

4 Delimitation Compare prices and features with

other models or the same model in

other stores Find out about

promotions or warranties

Price, features, promotional offers, warranty,

accompanying gifts

5 Shopping Visit FPT Shop to view products in

person and buy or order online

In-store experience, consulting services, payment conditions, and promotions

6 Post-purchase

review

Write reviews on the FPT Shop website

or social networks; Share photos and

usage experience with friends

User experience, product quality, and service satisfaction of FPT Shop

Awareness

- Intrinsic stimuli: Feel the old phone's staleness, slowness, or out-of-date functionality Consumers want to experience new technology and improve their performance

- Extrinsic stimuli: Know about new phone products through TV ads, social networks, or recommendations from acquaintances They do not yet know the 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 internal memory

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

User manual

- Initial setup, instructions for linking accounts and downloading apps Impact on daily life

- Suitable for both work and play, maximum support for digital needs

- Paying bills and other fees more easily

- Use for daily needs such as communication, keep in touch with family, learning

- Help users to memorize all the important information and scheduled precisely

User rating

- Consumers refer to website reviews and discussion forums about products

- Watch video reviews from technology Youtubers

- Advice from friends and relatives

Prices and promotions:

- 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 mobile

phone product and the consumer target are different, the consumer's buying path still follows a similar process This provides a framework for

businesses when formulating their marketing strategy, helping them better understand the behavior and purchasing decision process of their customers

2 The factors influencing consumer attitudes

Stage Cultural Factor Social Factors Personal factors Psychologicalfactors

Awareness

and Learn

Technology and

Modernity: In

modern culture,

smartphones are

symbols of

convenience and

modernity

Suggestions from the environment:

Friends, family, and colleagues recommend new phone models and exciting features

Understanding of features, favorite brands, and usage needs

The desire to update technology, the feeling of wanting to keep up with the trends

Review and

Discernment

Brand value: FPT

Shop is a reliable

and reputable

address that

provides mobile

phones

Technology standards:

Consumers want phones with modern features and quality cameras

Personal preferences, favorite brands, and financial possibilities

The feeling of wanting a new and most modern product

Stage Cultural Factor Social Factors Personal factors Psychologicalfactors

Shopping Trust in FPT

Shop: Due to the

shopping culture

at reputable

stores

Tips and reviews from marketing sources such as social media and

TV commercials

Decide based on price, promotion, and warranty

Feelings of excitement and anticipation about new products

Post-purchase

review

Compare the

shopping

experience at FPT

Shop with other

places in the same

shopping culture

Share your shopping and phone experience with everyone around you

Personal evaluation of product quality and after-sales service

Feeling satisfied if the product meets expectations or disappointed if the opposite 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 a communication tool but also a symbol of convenience and modernity This

means consumers will look for products with the latest and most advanced features

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

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

- Psychological factors: The desire to own the latest technology and the feeling of not being left behind compared to current technology trends

b Evaluation of alternative

- Cultural factors: Consumers often trust big and reputable brands like FPT Shop 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 financial ability will shape shopping choices

- Psychological factors: Consumers often want to buy the best product possible within their budget, so they will consider and compare different options before making a decision

c Purchase

- Cultural factor: Trust in FPT Shop, based on its reputation and service quality, will be an important factor that makes consumers choose to shop here

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

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

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

d Post – purchase rating

- Cultural factor: Consumers will compare their buying experience at FPT Shop with other places or what they hear from others in the same shopping culture

- Social factor: Sharing the experience after purchasing and using a product

on social networks or with friends is an important part of the consumption process

- Personal factors: Satisfaction with products and services after purchase will 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 next purchase 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 to understand these factors to optimize the customer experience and increase their loyalty

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

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

a Product policy

- Design

Characterized by a curved screen with high resolution, creating an engaging and immersive experience for users

Metal case or tempered glass gives a luxurious appearance, showing the sophistication 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 to support 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 for regular updates to ensure security and improve features

- Packaging:

The product box has a unique and luxurious design, with clear product information and images, creating a strong impression right from the first contact

- Uses

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

In addition, the product also supports many other features such as GPS navigation, mobile payment capabilities, and many other convenient applications

- Pack

The phone is carefully packed in a hard paper box, ensuring safety during transportation, and keeping the product in the best condition Included in the box are chargers, headphones, and user manuals, making

it easy for users to get used to the product

This Marketing Mix strategy creates a strong image of mobile phone products

at FPT Shop by optimizing key elements of the product to meet the needs and desires of customers

b Price policy

Price range: FPT Shop establishes a flexible price range to suit different models 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 market segments

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 when new products are launched, creating great motivation for shopping and increasing value experience for customers

d Distribution channel policy

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

e Mixed promotion policy

- Advertising: FPT Shop uses various advertising channels such as television, 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 accessories

or shopping vouchers, even providing added warranty services to create additional value for customers

- Direct marketing: Contacting via email, SMS or notification from the application helps FPT Shop reach and maintain close contact with customers

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

- Examples of cultural influences: In an increasingly digitized and technology-dependent society, owning a smartphone is not only a product but 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 those close to them and have practical experience

- Example of the opinion leader role: Positive reviews from tech critics or reputable journalists can have a powerful impact on consumer opinion Key recognition from people with deep knowledge of technology and the market is an important factor in driving trust and purchasing decisions at FPT Shop

III CONCLUSION

In other words, as technology develops, new business models are emerging that put pressure on established company sectors, compelling them to swiftly modify or adapt if they want to continue to expand sustainably steady Businesses in the retail and business sectors must adapt their business models

to keep up with trends and satisfy client expectations as a result of the new generation's different purchasing and consuming habits Businesses that properly use consumer data will acquire competitive advantages along with the growth of e-commerce and the digital economy