Proposal on Customer Buyer Behavior

Proposal on Customer Buyer Behavior

Outline of the Study

Purchasing products and services is common around the world, and almost everyone indulges in shopping. The value of a brand is seen in its brand equity and the brand loyalty that the brand possesses. The way consumers perceive a product or service, and the importance it has in their life is what makes all the difference, watching dogs on the way to work could influence the kind of sneakers one wear. Jonah Berger teaching in Wharton in one of the research paper said that what people see in their day to day life shapes consumer choices.

Background and Importance

The behavior of one customer may be different toward buying a luxury brand's products than another customer. For example, the value Customer A places on the luxury items at Peter Jones varies from the value Customer B places on the same items. It is this behavior that companies and brands like Peter Jones need to understand in order to stand apart from the rest. If all luxury goods brands are the same, then customers will not be attracted to one. This customer buying behavior invokes great interest in the models and concepts related to the topic. How is it that one brand is more valuable or popular than the other? Why do customers react differently toward a Peter Jones good than they do toward another luxury goods brand? These questions can be answered with the help of this research study. The respondents will be gathered from Peter Jones and other luxury goods stores. Their responses will answer the questions of the research and help in achieving the aims and objectives.

Research Aims and Objectives

The following aims and objectives will be achieved and fulfilled in this research:

To explore the concept of customer buying behavior in regard to luxury goods at Peter Jones

To determine marketing and promotion techniques of Peter Jones

To determine if there is a link between what consumers are and how they behave while purchasing luxury goods

Research Questions

The problem statement will be explored through the following research questions:

Is the concept of buying behavior regarding luxury goods known by the local market?

How does Peter Jones market or promote its luxury goods?

Is there a link between what consumers are and how they behave while purchasing luxury goods?

Literature Review

Many marketers and researchers have studied this topic and understand its importance in the retail market. Men from the corporate world may prefer to shop at Peter Jones as the brand promotes style for a businessman or men related to the business world.

According to Paterson (2006, p.199), though advertising, logo and branding are different, they still are interrelated and as brands moved from households to retail and finally corporations, the media witnessed a move with them as a result of which they are part of our daily lives. Similarly, brand personification is the term used to describe what personalities or human images consumers derive out of a particular brand. On the other hand, brand personification can also be described ...