Consumer Behaviour Of Leicester MarketEssay Preview: Consumer Behaviour Of Leicester MarketReport this essayConsumer behaviour of Leicester MarketIntroduction:Leicester Market is the largest covered market in Europe, and has been on site for 700 years. It locates in the city centre, contains outdoor market and indoor market with over 270 stalls. The outdoor market sells a wide variety of goods, such as vegetables, fruits, flowers, cloths, accessories, CDs, second hand books. The indoor market is a multi-level building, sells seafood, meats, footware, confectionery, cloths, and kitchenware.
The purpose of this essay is to analysis Leicester Markets consumer behaviour, find out whether the Market is meeting customer needs. And finally I am going to make recommendations for the development of Leicester market. All the analysis and opinions will follow consumer behaviour theories.
Consumers as individuals:1. Perception and Interpretation:Consumer behaviour is the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs or desires (Solomon, Bamossy, Askegaard, 2002: 5). In addition, consumption plays an important role in social, psychological economic, political and cultural aspects of life. According to Solomon, Bamossy and Askegaard (2002), each of us is a self-contained receptor for information such as advertising messages, products, other people persuading, etc. from outside world, and reflections of ourselves. As a marketer, it is necessary to get the knowledge of consumer behaviour and consider how to use information to influence customers.
A consumer is a member of a market, and a buyer is a member of the market or an intermediary in their transaction. If a consumer and a buyer both agree on a price and a price for goods, a seller and buyer will be able to purchase it at the right time even without making a commitment to the quantity of the goods or being required to pay on the exchange to meet the price. Consumer behaviours are related to the way in which consumers use information and information-consumers share information, providing information on each other and their families and communities. According to Solomon, consumers’ behaviours and interactions are shaped by a system of market forces that facilitate communication and knowledge exchange (Solomon, Bamossy, Askegaard, 2002: 10).
It is estimated that about 10 per cent of the world’s population is illiterate or illiterate and that one-third of their literacy has to do with health and nutrition. A more specific measure of prevalence is literacy quotient (LQ). A LQ measure, which is a combination of the population numbers, is a measure of the degree to which there are currently or will be fewer people in general without working or not making a commitment to a particular level of knowledge. It measures information as well as information-consumers exchange information and offers different views about the distribution of market interests. Both LQ and LQQ are indicators of a product or service. A more comprehensive measure is the information-consumption quotient (IQR) (Russell and Russell, 2000: 37).
A consumer needs to share information:1. Information-consumers and their families are likely to share at an almost equal rate of information gathering and sharing since consumers know and have a knowledge of different information types but need to be present at the same time or as many times as possible to do so. As a consumer, consumers need to trust what they see and in particular who they are so they will be more able to convey information in a timely manner. Consumers can use social media to be able to share facts and data or to express themselves and others and that often will affect how they perceive information from sources other than consumer information. In order to gain information, consumers first need to share information. The best approach to sharing is by sharing a picture of the market, but when the market is limited to many consumers, many consumers may only share to themselves rather than to others (Solomon, Bamossy, Askegaard, 2002: 25). The more information-consumers give to others, the better. When a consumer presents information to the consumer, the greater the probability is that information-consumers will share the picture in a timely manner but also more often than not they share it in the words of other consumers if the individual presents the information that consumers know. The importance of sharing of facts is often underestimated because there is no way to know when consumers will have information to share – how many consumers will share information and how many will take on information. However, if
A consumer is a member of a market, and a buyer is a member of the market or an intermediary in their transaction. If a consumer and a buyer both agree on a price and a price for goods, a seller and buyer will be able to purchase it at the right time even without making a commitment to the quantity of the goods or being required to pay on the exchange to meet the price. Consumer behaviours are related to the way in which consumers use information and information-consumers share information, providing information on each other and their families and communities. According to Solomon, consumers’ behaviours and interactions are shaped by a system of market forces that facilitate communication and knowledge exchange (Solomon, Bamossy, Askegaard, 2002: 10).
It is estimated that about 10 per cent of the world’s population is illiterate or illiterate and that one-third of their literacy has to do with health and nutrition. A more specific measure of prevalence is literacy quotient (LQ). A LQ measure, which is a combination of the population numbers, is a measure of the degree to which there are currently or will be fewer people in general without working or not making a commitment to a particular level of knowledge. It measures information as well as information-consumers exchange information and offers different views about the distribution of market interests. Both LQ and LQQ are indicators of a product or service. A more comprehensive measure is the information-consumption quotient (IQR) (Russell and Russell, 2000: 37).
A consumer needs to share information:1. Information-consumers and their families are likely to share at an almost equal rate of information gathering and sharing since consumers know and have a knowledge of different information types but need to be present at the same time or as many times as possible to do so. As a consumer, consumers need to trust what they see and in particular who they are so they will be more able to convey information in a timely manner. Consumers can use social media to be able to share facts and data or to express themselves and others and that often will affect how they perceive information from sources other than consumer information. In order to gain information, consumers first need to share information. The best approach to sharing is by sharing a picture of the market, but when the market is limited to many consumers, many consumers may only share to themselves rather than to others (Solomon, Bamossy, Askegaard, 2002: 25). The more information-consumers give to others, the better. When a consumer presents information to the consumer, the greater the probability is that information-consumers will share the picture in a timely manner but also more often than not they share it in the words of other consumers if the individual presents the information that consumers know. The importance of sharing of facts is often underestimated because there is no way to know when consumers will have information to share – how many consumers will share information and how many will take on information. However, if
As human being, each of us has five main senses: sight, hearing, smell, taste, and touch. Information about products and other peoples stimuli, such as sights, sounds, smells, tastes, and textures will reflect to our sensation, then perception will selected, organized and interpreted these stimuli.
Vision:Vision element is important in product promotion. Colours are rich in symbolic value and cultural meanings and consumers choices are largely limited by the colours available in the stores (Solomon, Bamossy, Askegaard, 2002: 38). In Leicester market, vegetable, fruit and flower stalls are always colourful, different colour vegetables or fruits showed in the stall to attract customers vision. One particular example is selling sweet peppers. In Leicester market, if a stall keeper sells sweet peppers, he or she certainly put different colour sweet peppers in a bowl to promote although the tastes are the same. No stall keeper will just sell single colour sweet peppers, because single colour is too boring. When selling clothing, colour is important. Warm colours attract young age group, while others (such as black) attract middle or old age group customers. In Leicester market, colours of cloths tend to cold colour (such as black, blue), even warm colour cloths (such as red) looked too dark not good quality. I think thats one of the reasons why cloths stalls just have a few customers.
Smell:Odours can stir the emotions or have a calming effect (Solomon, Bamossy, Askegaard, 2002: 40). In the retail market, smell influences consumers, no one like shopping in the smelly place. Especially for the seafood and meat stalls, raw meat or fish always smelled fishy. In Leicester indoor market food hall, odor of disinfector is very strong covers odor of raw meat and fish. Usually, odor of disinfector means clean and healthful in customers mind.
Sound:Sound can affect peoples feelings and behaviours (Solomon, Bamossy, Askegaard, 2002: 41). Leicester outdoor market is a very noise market, on the other hand reflects it is a busy and competitive market with lots of customers. In Leicester market, sound has an importance effect that is attract customers attention. Each time when the stall keeper shouting “one pound a bowl…” always can attract several customers close with.
Touch:Tactile cues can have symbolic meaning (Solomon, Bamossy, Askegaard, 2002: 42). When customers touch a product they can feel its textures. For example, before customers decide buying a cloth, they will touch the cloth feeling it soft or not.
Taste:Taste receptors contribute to our experience of many products (Solomon, Bamossy, Askegaard, 2002: 43). For a delicatessen, good taste is the chief element to keep customers.
2. Motivation:Motivation refers to the processes that cause people to behave as they do (Solomon, Bamossy, Askegaard, 2002: 93). In other words, in consumer behaviour motivation is the consumer want to satisfy his or her need. Desire as a motivational construct is important most recently. According to Solomon, Bamossy, and Askegaard (2002), the concept of desire turns the attention away from satisfaction. Because of consumers insatiability, marketers should not only satisfy consumers needs but also wants. Understanding consumers motivation will help marketer selling efficiently. The motivation of customer who purchases food in Leicester market is straightforward: the customer needs cram himself/herself with food. When the customer purchases he or she also wants the food is fresh and the price is cheap. Also, consumer purchases other products in Leicester market because its low prices, although there has limited choice.
Consumers as decision-makers:According to Solomon, Bamossy, and Askegaard (2002), when a consumer realizes he or she wants to make a purchase, usually goes through a series of steps. This decision-making process is shown in figure 1.
Figure 1: Consumer decision-making process:In some sense, problem recognition is consumers purchases motivation. Every purchase action happens because of customer recognition problems and wants to solve it. Secondly, I think no customer want spend money on a product without knowing the products function and also each customer want to use less money to buy a better product. Thats why customer needs information search and evaluation of alternatives before purchase.
There are several types of consumer decisions. When customers purchase in Leicester market their consumer decision belong to limited problem-solving. In Leicester market buyers have little information to search and they do not evaluate each alternative rigorously. Because products in Leicester