Question

On Consumer Buying Behavior: a. L'oreal Paris, describe a scenario of your typical customer using the buyer decision process when considering purchasing your company’s product/service. Use the language from our readings. i. Consider pulling from your database research offered in our library workshop to authenticate how your customers behave in your market environment. b. Additionally, from the criteria that influence the rate of adoption, in what area does your company/product excel and what area does your company/product require attention to strengthen the adoption process? Be detailed in your response.

Answer 1

Qn. On Consumer Buying Behavior: a. L'oreal Paris, describe a scenario of your typical customer using the buyer decision process when considering purchasing your company’s product/service. Use the language from our readings. i. Consider pulling from your database research offered in our library workshop to authenticate how your customers behave in your market environment. b. Additionally, from the criteria that influence the rate of adoption, in what area does your company/product excel and what area does your company/product require attention to strengthen the adoption process? Be detailed in your response.

Ans.

The consumers buying behaviour is influenced by three key factors - cultural factors, social factors and psychological factors. In the cosmetic industry, L'Oréal is the leader of the market, therefore it is important for the company to consider these factors in their marketing plan, so as to gain the market shares and maintain its position above its rivals.

I take an example of . L'oreal Paris lipstick.The target audience here is girls and women from rural and urban area. However the price factor is critical for the rural women when buying anything.

A women who desires to buy a lipstick of a specific color will first ask for the color and the finish of lipstick like gloss or matt finish.It will depend on the skin tone of the person and the type of skin the women has. So when selecting my product she will look out for these factors first if it matches then she will think about the qualtity of the product, the brand and the manufacturing date. The price of the product will be the third factor for an urban women to make the final buying decision.

The rate of adoption is the rate at which innovation is followed by the customers and the product characteristics that influence the adoption.My product excels in Compatibility, it is easier to use and compatible with the customers mindset. The customer should get what she wants. Whereas Relative Advantage is the factor which needs to be strengthened by innovating and improving over the previous generations of the same product. The new lipstick of my company should be more attractive to the customer over the previous versions of the same lipstick.