Consumer Decision Making-Free-Samples for Students- Myassignment

Question: Discuss about the Four Article related to the topic of Social Media and its Influence on the Consumer Decision Making. Answer: Introduction: This is the report that is in the form of annotated bibliography in which four articles are being analyzed related to the topic of social media and its influence on the consumer decision making. This report helps in developing the analyzing skills of the learner and also helps to make research on the topic in depth. This report discusses four articles. The first article is regarding the automobile industry in which the effect of social cultural elements on the purchase behavior of the people is being analyzed. The research is conducted in the region of Finland. The second article is regarding the online consumer behavior. In this article the author has discussed about the social factors that have its impact on the behavior of the consumer who shops online. The third article basically discusses at the cross-cultural behavior or the factors that affect the consumer decision making in de=different region. This is one of the best articles to know about the cultural aspects of consumer be havior. The last article is regarding the social media impact on consumer behavior. The overall division helps in researching about the topic very well but with some of the imitations. Articles: 1.Grinblatt, M., Keloharju, M. and Ikheimo, S., 2008. Social influence and consumption: Evidence from the automobile purchases of neighbors.The review of Economics and Statistics,90(4), pp.735-753. In the article, the author argues about the influence of the social factors o the purchase behavior of the customers who are buying automobiles. The author has made efforts in researching about the impact of the social influence on the consumption of the automobile products by the consumers. A panel of automobile purchases in Finland has been used as the data to conduct the research. The data has been collected by the government authorities thus is very reliable source of information. The data collected helps in studying the patterns of purchase and the factors affect towards purchases at different locations. This research is mainly about the purchase behavior of the people in Finland according to different social factors such as location, culture, demography, choices etc. in my research, this topic has helped in determining various social factors nada los the impact of location on the purchase behavior. As far as the limitation of the study is concerned, it has been analyzed that th e study in the article is limited to automobile purchase and also limited to Finland. This study reveals that purchase of the automobile in Finland is very much affected by the neighbors purchase. The conclusion of the article is very clear and thus it is much helpful for me to conduct my research. 2.Cetin?, I., Munthiu, M.C. and R?dulescu, V., 2012. Psychological and social factors that influence online consumer behavior.Procedia-Social and Behavioral Sciences,62, pp.184-188. Authors in this article have talked about the electronic commerce and its influence on the consumer behavior. The author argues that internet is affecting the society to a large extent and thus the behavior of the consumer to purchase the products. The consumer that has been analyzed in this article or research is the online customers. The author has collected the data of the online sites regarding the number of people surfing them at regular basis. The major social factors that have been discussed are reference groups, family and the status but in case of online customers the virtual groups are conifer as the social factor. The research in this article focuses on the social factors related to internet and social media that affect the consumer behavior in online purchases well as in making offline purchase. This research has helped me in researching my topic to broader extend on online consumer behavior as well. The limitation of this study is found to be the data collection method. The data that has been collected is not very much precise in its manner and thus it results in deviated conclusion from the actual conclusion. This report concludes that internet triggers the new behavior of the consumer and thus changes the dimensions in which the consumer made its purchases. I think that this research study is proved to be beneficial in one way as it provides a great knowledge about technology along with e-commerce involvement in the consumer behavior. This is not actually a social factor but influence the social factor. 3.Muduli, A., 2011. Performance based reward and national culture: an empirical evidence from Indian culture.Synergy,9(1), pp.1-13. This is a very interesting article as the author in this article has made efforts in researching about the cross cultural effects on the purchase behavior of the people. The consumers from different countries have been tested such as America, Australia, Thais, Taiwan and India. The data has been collected from the respondents through questionnaire. The respondents are the university students because they are the one who are closely related with the purchase of sneakers. Sneakers are the products that have been discussed in the article. An l has been used to answer the questions by the respondents. This research has helped me in the way that it discusses about the cross cultural factors which is very interesting to study. This gives a braid exposure for the research topic. The limitation of the study in this case is that the respondents are from the university only. The sample selected is not clearly represents the whole public or the customers. Thus, the results may suffer from this limitation. The conclusion of the study suggests that the people in Taiwan, India and Thailand are collectivists while the people in America and Australia are activists. It has also been concluded from the study that different types of marketing strategies at different region also affect the purchase behavior of the people but the marketers also considers the cutlet and the social beliefs of the people before marketing any of the products in the region. 4.Sema, P., 2013. Does social media affect consumer decision-making? In this article, the author of the article has discussed about the various impact of social media o the decision making of the consumer directly or indirectly. It has been discussed that social media is the most important tool for marketing in the business and thus the difference and the innovation sin marketing thus affect the choice and the thinking process of the customers in making the decision for buying nay product. The data that has been collected for the research is by questionnaire. Questions have been asked to the respondents and then the data has been processed to take out the meaningful information out of that. The research is about the impact of the social media tools on marketing and then its impact on the consumer decision making to buy the products. The companies who market their products on social media along with other tools are more likely to get the customers because most of the people these days are always surfing the social media. This article mainly focuses on travel businesses and this limits the research conducted on the topic that is have selected. This research concludes that social media tools are not directly but indirectly affect the consumer decision making. The results of the data suggest that the social media has the positive influence on the consumer decision making process. This is because people are very much attracted towards technological advancement and the reviews posted in the social media regarding different products let the people know about the experiences of other people and thus helps them to make the intelligent decision on select and buying the product. Conclusion: After studying all the article related to the topic, it has been concluded that social culture affect the behavior and the purchase decision of the consumers. The social factors have different forms such as social media, cross cultural behavior, effect of reference groups etc. it has been concluded from the stud that there social influences affect the purchase behavior in positive way for some products but also results in negative way for the companies. This is because the bad experience of the people can also be shared by others and these results in negative point of view of the people for the product. Culture of the consumer is one of the major reasons that affect the purchase decision, if the beliefs of the people in different countries are different then they may have different choices. Thus, the companies have to market the products in the same way in order attract more and more customers. Social media is one of social influence these days. This is because of the technological d ocument in the marketing procedures of the companies. As the companies market their products on social media thus the customers also provide their reviews on the tools and results in impact on consumer decision of the other people who all are reading the reviews. References: Cetin?, I., Munthiu, M.C. and R?dulescu, V., 2012. Psychological and social factors that influence online consumer behavior.Procedia-Social and Behavioral Sciences,62, pp.184-188. Grinblatt, M., Keloharju, M. and Ikheimo, S., 2008. Social influence and consumption: Evidence from the automobile purchases of neighbors.The review of Economics and Statistics,90(4), pp.735-753. Muduli, A., 2011. Performance based reward and national culture: an empirical evidence from Indian culture.Synergy,9(1), pp.1-13. Sema, P., 2013. Does social media affect consumer decision-making?