A product is everything which is normaly capable of satisfying consumer need. When a company looks what the customer is buying , it is very essentally a servic whether the meens is tangible or intengible.
Company develop their product into brands which help to create a suteble position in the minds of customers .
Branding is like Practices by which organization differentieat their product offering from those of the competitor. By developing a unique designe,name and packing, a brand is created.
Nokia successfully develop their product into brands, which is more stronger then LG, Samsung or Sony Ericsson mobile phone.
"How Nokia Brand influence to consumer purchasing behavior to buy a cell phone, other then LG, Samsung or Sony Ericsson brand in Bangladesh".
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
AIMS AND OBJECTIVES:
Objective is to study how Nokia brand influence & work on consumer purchasing behavior in Bangladesh market.
LITERATURE REVIEW:Â Â Â Â Â Â Â Â
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
There is enormous variability in the way customers buy and use products. They may buy the same product but put it in different uses. Some customers will buy a product after a lot of consultation, whereas others will make the purchase decision if the same product in complete solitude.
The types of behaviours that different customers demonstrate in buying and using the same product and the different types of behaviors that the same customer demonstrates in buying different products elevates marketing to a discipline much more intricate than product management.
Decision Making process:
How do customers buy? According to resarch customers go through a five stage decision making process to purchase any product.This is summarized in the diagram bellow :
This model is important for anyone making marketing decisions. It helps the companies to consider the total buying process rather than consumer purchase decision.
The five models imply that the customers can take purchase decision from each five stages. Whatever, for more workaday buy decision, consumer may drop or alter some of present.
The starting point of any purchase decision is a customer need (or problem0, need recognition occurs when an individual senses a difference between what he or she perceives to be the ideal versus the actual state of affairs. Consumers don't just walk int6o a store and say, "I notice you have things to sell. I have some extra money I would like to spend so just pick something out and charge it to my credit card.' Consumers buy things when they believe a product's ability to solve a problem is worth more than the cost of buying it, thereby, making recognition of an unmet need the first step in the sale of a product. Bed recognition, sometimes called problem recognition, But realistically, marketers must look into with a microscope, considering ability and power to buy. While marketers strive to fulfill the desires of their consumers, they must keep costs in lime with what their target markets can afford. Consumers are willing to sacrifice some of third desires for affordable products that meet their needs though they might still aspire to their desires.
Personality, Values and Lifestyle
Figure1, NEED RECOGNITION
Sometimes when least expect, we recognize a need. For instance, Usuf Khan, a university Student is using a cell phone with a normal feature, and his cell phone breaks down in the middle of the road. cell phone got switch off and hi trying to on it but not working . A local mechanic examines the cell phone, fixes it temporarily, but suggests the student look for a new cell phone. The student has a problem- he need to obtain same form of reliable cell phone - and has entered the consumer decision-making process. He returns home and sees his friend, who just bought a new pass at. Alter taking about his predicament, heists in the new cell phone and inhales that sing-invoking new cell phone scent, which only increases his desire to buy a cell phone. He closes his eyes and visualizes himself using a new multimedia cell phone but desires and desires and needs aren't always the same. While we don't allways get what we desire, we usually manage to get what we need. Usuf Khan has just begun the purchase process for a cell phone, stay tuned.
SEARCH FOR INFORMATION
Once need recognition occurs, consumers begin searching for information and solutions to satisfy their unmet needs. Search may be internal, retrieving knowledge from memory or perhaps genetic tendencies or it may be external, collecting information from peers, family, and the marketplace.
The efficient search is determined by keywords such as social class, income, size of the purchase, experiences and perception. The name of company Victoria gives high priority for customer satisfaction. They expand and include new facilities to avoid consumers unhappy.
Sources of Information
As in the case of the student cell phone buyer, he searches from different sources to get information for choices the product. These sources could be two types: Marketer dominated and no marketers dominate. To dominate the marketer, anything can refer to supplier to get proper information of product, for example advertising, salespersons, infomercials, web sites and point-of- sales materials.
As a consumer is exposed to information resulting from external search, he or she begins to process the stimuli. The steps involved in procession information. They include;
1. Exposure, First, information and persuasive communication must reach consumers. Once exposure occurs, one or more of the senses are activated and preliminary processing begins.
2. Attention After exposure, the next step is to allocate (or not allocate) information- processing capacity to the incoming information. The, ore relevant the message and its content, the more likely attention will be attracted. Consumers frequently ignore commercial persuasion at this stage and engage in selective attention.
3. Comprehension. Lf attention airs attracted, the message is further analyzed against categories of meaning stored in memory. They marketer hopes the accurate comprehension will occur.
4. Acceptance. Once comprehension occurs, the message can be either dismissed as unacceptable (a common outcome) or accepted. The goal of the message is to modify or change existing beliefs and attitudes, but the message must be accepted before this can happen. There is a good chance of at least some change occurring if acceptance within the system or structure occurs.
5. Retention, Finally, the goal of any persuader is for this new information to be accepted and stored in memory in such a way that it is accessible for future use.
Everyone is exposed to a barrage of messages completion for their attention, but each comprehends, accepts, and retains only a few. Brand equity and favorable brand image in the minds of consumers help firms get their messages into this subset.
Personality, Values and
Figure 2:- How to Information search
Usuf Khan has begun his quest for information. To this surprise, he begins to notice dozens of television and magazine ads about cell phones and beings to digest them. He can afford to spend up to 6000 Taka on a used cell phone and decides to search the classified ads in the newspapers and cell phone dealers' web sites options. He talks to friends about their cell phone s-what features they like best, how satisfied they are with the performance, and where they [)ought them. After days of searching, he's gathered information on models he can afford, including who sells them, how much they cost, durability.
Alternatives evaluation of pre-purchase:
The next stage of the consumer decision process is evaluating alternative options identified during the search process, In this stage, consumers seek answers to questions such as What are my options? And Which is best? When they compare, contrast, and select from various products or services. Consumers compare what they know about different products and brands with what they consider most important and begin to narrow the field of alternatives before they finally resolve to buy one of them.
Search is not limited to these marketer-dominated sources, Consumers also seek information from sources over which marketers have little control, yet are critically important to consumers. No-marketer- dominated sources include friends, family, opinion leaders, and media. Many of these influences come in the form of word-of-mouth; others come from having consulted objective product rating sources such as Consumer Reports, government and industry reports, or news stories in the mass media.
Needs, price, and lifestyles but customers might be judged the place to buy specific item, and use applicable evaluative to the retail outlets from which will buy.
Some attributes unto which other way can be evaluated are outstanding, and determinant, which affect marketing and advertising. Consumers think of main attributes as potentially the most important. In the case of buying a cell phone, price, reliability, and satisfaction, believe are very close between similar types of cell phones. How alternatives differ on determinant attributes (for example color, style, finishing and type of cup holders) usually determine which brand or store consumers choose, especial when they consider the salient attributes to be equivalent.
Figure 3. ALTERNATIVE EVALUATION
After search for information and compiling a list of models and requirement Usuf begins to compare his alternatives. He evaluates specific model based on a set of attributes he compiled earlier, including safety, reliability, price, warranty and number of beverage holders. He also considers things like how he will feel owning and using the cell phone and evaluates where he might buy the cell phone, comparing the various dealers and the atmosphere each one provides. Although he feels some pressure to make decision, he has access to his father's cell phone for a few weeks while he rinds a cell phone to match his needs and financial constraints; therefore he takes his time to evaluate thoroughly all the information and alternatives at this stage. The list narrows to a few alternatives, and he prepares to buy one of them.
Consumer's next decision process is purchase. After deciding buy or not to buy, he moves two stages. Firstly, consumers choose one seller over another seller. Secondly, concern in store choices, persuaded by salespersons, item displays, media, paper and advertising.
According to plan a consumer thinks to buy a specific item or brand. But sometimes purchases rather different from what they think to purchase in case of what goes on during the purchase or choice stage. A consumer prefers one retailer but choose another in case of a sale, promotional event, operation hours, place and problem of traffic. Inside the store, a salesperson can change consumer decision to see the display item that moves his or her brand preference, special discount, coupon, fail to find specify item, few of money, debit card or credit card to make the purchase. The good retailer manages the image of the store to achieve preferred maintain among the market target to manage, in micro detail, all aspects of the in store shopping experience.
After evaluating his choices, the university student is ready to buy a cell phone . But before he marks the purchase. lie must chose an cell phone dealer .he walks into the first and browses, a good salesperson would convent the browse into a buy. A bad salesperson might convert an intended purchase into a lost sale. The student knows he wants he wants a reliable, four -door preferably red cell phone that is price under 6000 taka. Many thing can kill the deal right now and ease him to leave the dealership without purchasing a cell phone . if the student has credit problems, a good dealer will find a way to make the cell phone affordable,, either with a lease option or by extending the number of payments . if tha dealer doesn't have the right model color and accessory package in stock , the purchase process can die , that why dealer carry hundreds or thousand of cell phones inventory the student finds Nokia that he likes and can afford and buys the cell phone .
POST PURCHASC BEHAVIOR:
The next stage of consumar vehavior is post- consumtion evaluation, in which consumer experience a sance of eaither satisfaction or desatisfaction.
The most important determinant of satisfaction is consumption, how consumers use products. The product might be good, but if consumers don't use it properly, dissatisfaction mat occur. Increasingly, firms develop better care; follow instruction, offering warranties and free service. For example, if the student doesn't charge regularly his cell phone, or take it in for tune-ups when recommended, the cell phone may not perform as well as expected, causing him to feel disappointed with the outcomes.
There are key role of emotions to assess a product. The definition of emotion is expressed people feelings, temperament, and a widely respected psychologist: for example crying, facial expressions or related with mood.
Several researches suggested that consumer's fairness view exchanged over affects of time with up-to-date and upcoming usage behavior. The overall evaluation of the fairness of exchange affect on price and usage.
Personality, Values and Lifestyle
FEGURE5: POST PURCHASC BEHAVIOR
As Usuf Khan uses his new cell phone out of the dealer's lot, he thinks, "What have I done?" He gets a sinking feeling in his stomach while his brain searches for reasons to justify his purchase decision. The cell phone dealer that sold him the cell phone understands what the student is feeling and will follow up with a letter in a few days assuring him he made a good decision. As for the student, as each problem free day passes, he feels better about his decision and the process. The cell phone performs well and gets good durability and his girlfriend likes it, too, buying a multimedia cell phone wasn't so bad after all in fact, if he had to do it again, he would probably go back to the same dealer and buy another cell phone made by the same manufacturer.
Nokia induces the cell phone communications in Bangladesh. It started operation in around 1980s and launched a top-grade brand product company in Bangladesh market and day by day spread out business policy, satisfies customer demand and finally, grows the telecommunication industry in Bangladesh with large support of customer.
Regional corporate headquarter of Nokia in Singapore. Its regional corporate headquarter, these are the base from which Nokia providing a leading-edge technology, product and quality in Bangladesh market through 700 staff in a hub and Nokia networks also around in Asia.
On 2004, Nokia focused on new trade and growth through changing its international organizational structure. Its have four businesses to meet the incomparable dynamics of each business.
For large customer segment, mobile extend an extensive place of aggressive cell phones, develops and consumer section in Bangladesh market. For Nokia core business in Bangladesh market it is responsible to support based on GSM and CDMA technologies.
Multimedia cell phone brings mobile multimedia to customers in form of highly advanced mobile devices and applications. Multimedia cell phone products contain some special features and functionality such as imaging, games, music and media.
Nokia leads the leadership in the group in GSM, CDMA and EDGE. Nokia offers a network infrastructure, technology and wireless to all service providers.
Nokia market share 58.82% in Asia - Bangladesh (January 2010) Â
Nokia market share 58.82% in Asia - Bangladesh (January 2010)
RESEARCH METHODOLOGY :
The procedures are classified as either direct or indirect, based on whether the purpose of project is known to the respondents. A direct approach is not disguised. The purpose of the project disclosed to the respondents or is obvious to them from the question asked. The focus group and depth interviews are the major direct techniques.
Focus group: Interviews performed by trained people among a tiny class respondents in ambiguous and natural manner.
Depth interview are performed on a one to one. Therefore, they are also called individual depth or Ides. A depth interview is an ambiguous, order, personal interview in which a sing responsive is forced by a extremely skilled interviewer to bring out motivation beliefs, attitudes and feeling on topic.
The list of interviewee:
Sr. Executive (marketing)
Sunstar Expositions Pvt. Ltd
Salary more then Rs 20000
Ph no: 91-11-51615310-11-22
E-mail : firstname.lastname@example.org
Sunstar Expositions Pvt. Ltd
Salary more then Rs 20000
Ph no: 91-11-26296411-12
E-mail : email@example.com
ICICI Prudential Life Insurance Company Ltd
Ph no: 91-9868362731
Decision: Customer goes through the following ways
Customer needs only multimedia cell phone with cheaper rate, and small status also. They think that the cell phone will be cost of 6000 taka
They start found about cell phone information from various sources like friend who have cell phone, cell phone dealer; news paper etc. and they found they have only one option, the cell phone is from Nokia.
Evaluation of alternatives:
Some of LG and Samsung cell phone.
They take decision & purchase a Nokia 5130 XpressMusic.
Post purchase Behavior :
After consumption they are very happy.
Products : - Nokia 5130 XpressMusic
Quality of components
Purchase at the retail
Cell phone Markets
The project is quite learning give to the incomplete information because if we get more time to more market survey in different segment then project was more meaningful as well as profitable for me. Customers tell the true feelings and gives proper information about their preferences, intention, about the product and Understanding their attitude, motivation. We think that it is good opportunity to implementation our practical knowledge.