The paper "Understanding Consumer Choice" is a wonderful example of a Marketing Case Study. This report will demonstrate how an understanding of internal factors influencing consumer behaviors could assist in developing a good marketing strategy. The paper will use the Coca-Cola Company as the company of reference. Coca-Cola Company is a global company that produced Coca-Cola drinks. It is ranked as one of the most successful companies, not only in the USA where it is based but all over the world. Proper understanding of the internal factors that influence consumer behavior can help the company to develop an effective market strategy that could see it become successful in the market. Table of Contents According to a study conducted in the year 2014, an effective marketing strategy is the one that is based on a set of concepts and ideas of consumer behavior (Sparkes, 2014).
A good marketing strategy is developed from the factors that influence consumer decisions. Analysts agree that failure to consider the factors can negatively affect an organization’ s success in the market. A market strategy should address various factors that affect the consumer’ s behaviors.
These factors are commonly classified into two groups, which include external and internal factors. The influence of both external and internal factors is equally important for the success of any marketing strategy. This report will demonstrate how an understanding of internal factors influencing consumer behaviors could assist in developing a good marketing strategy. The paper will use the Coca-Cola Company as the company of reference. Coca-Cola Company is a global company that produced Coca-Cola drinks. The company is ranked as one of the most successful companies, not only in the USA where it is based but all over the world (Coca-Cola, 2013).
Analysts argue that the success of the organization is partly due to its effective market strategy that is based on the consumers’ behaviors. 2.0 Findings and Discussion There are many internal factors that influence consumer buying behavior (Coca-Cola, 2013). According to Rutta (2012), the factors include perception, motivation, attitudes self-concept and lifestyle, personality, emotions, memory and product positioning. Some factors apply to some products and not all the products. Coca-Cola Company has tried to put into consideration most of these factors in order to effectively achieve success in the market.
Some of the factors that the company has effectively addressed include: 2.1 Motivation and Consumer Needs The most substantial internal factor that influences consumers buying decisions is the motivation to buy something. Motivation is an inner feeling urging a consumer to satisfy a certain need. Motivation comes for an urge to satisfying a personal need. A need is a lack of something that a consumer desires. There are many needs that people would like to meet. Some of the needs include hunger, thirst, and the need for clothing among others.
These needs create an urge to satisfy them which becomes the motivating factor. People feeling thirsty will be motivated to look for a hotel where they can take some drinks and quench their thirst. Apparently, the choice of buying the drink is grounded on the inner motivation of quenching the thirst. Understanding consumer’ s need and motivation to buying Cola-Cola drinks can help Coca-Cola to devise an effective marketing strategy. It is arguably true that the company has been capitalizing on the factor to improve it market practices.
However, the organization has not fully utilized the factor to develop an effective market strategy. In order to make a good marketing strategy that will further their performance in the market, the company should use Maslow’ s Need Theory to motivate their customers. This model was put forward by Abraham Maslow and it requires classification of consumers’ needs. According to the theory, some needs are more important to people and tend to motivate them more than those that are regarded to be less important (Sparkes, 2007).
For instance, psychological needs such as water and foods are regarded to produce high motivation to satisfy them.
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