Buyer Behavior Assignment - Mk 0385

Need recognition

Our potential consumers may be motivated to purchase our luxury branded products for a variety of different reasons including status and quality. Potential consumers may associate or identify themselves with the louis Vuitton brand and our new product range.

Other potential customers may have a physical need for our product and have a need for table ware and dining ware, for example consumers will always have a need to use plates glasses and cutlery as we use them in everyday life however our products are luxury so the price will reflect this.

Potential customers will be able to afford luxury table ware for occasions, everyday use or as gifts and will recognise these needs.

Search

In the search for information our potential customers of our new product may look at product information for example where was the product made, what is the perceived quality, actual quality and the materials is was made from, the designs of the table ware, its practicality and warranty.

Consumers may look at the price if it is affordable to them as the products will be premium in price they will not be in everyone’s price range.

Consumers may look at where they can purchase the table ware products such as online or the nearest store or stockist of the product. They may look at who can purchase them. In the past Louis Vuitton has used a special order service for custom products adding exclusivity. (GQ, 2016)

Lastly they may look at information regarding the brand as a whole including feedback or reviews from previous customers or recommendations from peers or family.

Evaluation of alternatives

Potential consumers will look into and evaluate the alternatives to our product. Similar product ranges are offered by competitors Hermes, Versace and Giorgio Armani who are just some of the luxury fashion brands who all have offered luxury table ware products. They may take into account the availability, design, price in comparison, exclusivity and personal association with other competing brands.

Factors such as age, culture, taste and budget have all impact on the evaluation process by the consumer.

Lastly celebrity endorsement is now seen as a factor that may influence the evaluation of alternatives stage of consumer decision making process. (Cant, 2006) which our brand is renowned for using many celebrities to tap into their customer base. (Fashion Marketing Secrets, 2012)

Purchase decision

 This is the stage in which the consumer will make a decision to make the purchase to buy the Louis Vuitton table ware after reflection on the information gathered and reviewing alternatives.  Purchase decision can be classified into three different types planned purchase, partially purchase and impulse purchase (Kacen & Lee, 2002)

Factors that may affect the decision could be circumstance, time and location. Physical environment can also affect this such as store atmosphere, sent, surroundings, sound, light and weather. Our brand goes to great lengths to convey a particular vision for consumers in store and online. (Pride & Ferrell, 2015)

Lastly our consumers may be affected by social surroundings such as pressures from friends, peer and family or other customers and lastly sales people often have influence in purchase decision. (Pride & Ferrell, 2015)

Evaluation

 It is in this stage where the consumer will evaluate the decision of the purchase of our table ware. This is an important part of the process as the consumer will decide if our product is worth a repeat purchase or recommendation which aid in future purchases for other consumers.