Understanding consumer decision process Essay Example | Topics and Well Written Essays - 4000 words

Understanding consumer decision process - Essay Example In the market situation, interacting factors determines the movement of products and services. One important factor in the conceptualization and production of products and commodities is the target market. The consumers' reaction to products offered commands the possible success of certain products. Consumers utilize goods and services on a daily basis. In the present era wherein every product that a consumer can possibly need is available in the market, producers compete mainly on the quality of products and goods offered.The consumers mainly comprise the target market of goods and products produced in the market, thus, factors that affect their decision process with regards to the purchase of different products and services in the market is studied. The study of factors that contribute to the choice of consumers is an important field that can be explored. Every choice made by the buyers specifically the type of products to buy, the brand, the size and other specifications are affec ted by factors (Johnson, & Mullen, 1990, p.1). To be able to better demonstrate the behavior of the consumer with regards to the choices made in buying any goods in the market, a certain product is chosen and studied.Personal items such as pharmaceuticals, cosmetics and perfumes are items that are widely available in the market. Perfumes are products that are available in the market that are produced from the mixture of aromatics or chemical compounds with distinct smell. Through the history, the role of perfumes has evolved from being a fashion and luxury item to a personal necessity (The Columbia Encyclopedia, 2006). In a survey conducted products that are considered of personal necessity has an increasing trend with regards to sales in the market. Perfume and other cosmetic items comprise 10.84% of the sales for the second quarter of 2004 which is comparatively higher than the same period in 2003 (Instituto Brasileiro de Geografia e Statistica, 2004). One company that distributes perfumes in the market is the Ralph Lauren. The company was established in the 70's when Ralph Lauren himself started producing ties and men's wear and in 1971 started designing women's line. It was in the 1978 when Ralph Lauren produced the first line of fragrance and perfume collection. The collection started only from one kind of perfume for each gender (Ralph Lauren Media, 2006). Based on the 2005 report of the company, 9.4% of the total sales were derived from the line perfumes produced (Polo Ralph Lauren, 2006). The perfumes and fragrances are types of products that focus on different target markets. There are perfumes for both men and women and for any ages. Another type of customization with regards to these fragrances is the type of activities that the consumers are involved in. There is a product line that fits subdued activities such those consumers that wear perfumes when going to work. One product line targets the active individuals. This line is called the Ralph Lauren Polo Sports perfume which has two different variants, for men and for women. The target of this perfume line is the particular groups of individuals that are health conscious and either engaged in sports and other physical fitness activities. This group belongs to the population with age ranging from 20 years of age and with no upper limit that are fit and sporty individuals. These products were produced by RL in response to the 90's trend towards the development of a healthy and active lifestyle through sports and ex ercise enthusiasm (Ralph Lauren Media, 2006). The Consumer Behavior In the study of the marketability of any products, an important focus is given to the behavior of the consumers. The consumer behavior encompasses the practices involved in the sales of any products in the market. It is studied through the combined tools of different scientific fields such as sociology, psychology and other related fields that explore human behavior in the society