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Consumer Behaviour in the Sandwich market - Assignment Example
Prt New Street Branch is part of a well established and strongly branded group operating in a market which is performing reasonably well. However it is a highly competitive market and sales are showing a continuing decline over the years.
In view of the challenges that Pret faces in this scenario, this report attempts to provide an understanding of drivers of consumer behaviour in this market and use it to establish any differentiators that Pret can use to position itself as being unique from its competition and hence increase footfalls at its outlet.
A marketer's job is to figure out what needs and wants the consumer has, and what motivates the consumer to purchase. Motivation is the drive that initiates all our consumption behaviors, and consumers have multiple motives, or goals. Some of these are overt, like a physiological thirst that motivates a consumer to purchase a soft drink or the need to purchase a new suit for an interview. Bucklin, R.E. and C. Sismeiro (2003). Most consumption activities are the result of several motives operating at the same time. Researchers specially trained in uncovering motives often use qualitative research techniques in which consumers are encouraged to reveal their thoughts (cognitions) and feelings (affect) through probing dialogue.
The consumer information-processing approach aids in understanding consumptive behavior by focusing on the sequence of mental activities that people use in interpreting and integrating their environment. Katz, M.L. (1984) The sequence begins with human perception of external stimuli. Perception is the process of sensing, selecting, and interpreting stimuli in one's environment. ...