The purpose of this report is to analyse and evaluate the decision-making process consumers go through when purchasing health supplements and formal clothing. The objective is to compare the differences between the two processes and identify the implications each has on marketing strategy.
This has been achieved through both secondary and primary research. The secondary analysis involved research using the textbooks and articles on health supplements and formal clothing and the application of relevant consumer behaviour concepts and theories.
This report will also thoroughly discuss, compare and report on the typical decision making processes likely to be followed by a selected target market for the purchase and use of health supplements and formal clothing.
This will involve the primary research in which 8 people will be interview with questions regarding to consumer behaviour in the purchase of health supplements and formal clothing.
The report is structured in a way to present each aspect of the decision-making processes for formal clothing, which followed, by health supplements to enable comparison to be made in each section.
2.0 Target Market
Health supplements is an industry which is growing because of intelligent, healthy people. (National Business Review, 1996, p.32).
In New Zealand, the research shows that people are more and more aware of good health, its relationship to lifestyle, and how they can use health supplements to augment self heal health care. In other words, people today are looking for prevention rather than just cure.
In 1994, 32% of New Zealanders took some form of supplement and in the latest study in 1997 this figure has increased to 74%.
Each different product market consists of buyers, and buyers are all different in one way or another. They may differ in their wants, resources, locations, buying attitudes and buying practices. Because buyers have unique needs and wants, each buyer is potentially a separate market. For example, in the health supplements market, the seller identifies market segments, and develops different health supplements products and marketing mixes tailored to each needs and wants.
Both health supplements and formal clothing are market which its’ products appeals to many buyers. Many people once in their life would have bought both products at sometimes during their life stages.
There is no single way to segment a market. In this report, students are selected under the occupation market segment as the target market.
The target market consists of students studying at universities.
Consumer involvement is the perceived personal importance and interest consumers attach to the acquisition, consumption, and disposition of a good, service, or an idea. As their involvement increases, consumers have a greater motivation to attend to, comprehend,...