ASSIGNMENT FOR ADVERTISING.

NAME: NANA AFUA ASANTEWAA YEBOAH

ASSIGNMENT: ADVERTISING PRINCIPLE

QUESTION: DISCUSS THE 2 MAJOR CATEGORIES OF CONSUMERS AND THEIR CHARACTERISTICS IN A CONSUMERS MARKET AND THE BUSINESS MARKET. LOOK FOR MINOR NEW PURCHASERS AND MINOR OLD PURCHASERS. ALSO LOOK FOR A MAJOR OLD PURCHASERS AND MINOR OLD PURCHASERS.

A consumer is an individual who buys products or services for personal use and not for manufacture or resale. A consumer is someone who can make the decision whether or not to purchase an item at the store, or someone who can be influenced by marketing and advertisement. Any time someone goes to a store and purchases a toy, shirt, beverage, or anything else, they are making that decision as a consumer.  OR 

Consumers are asserts of every business entity. Just like a two edged sword, consumers could help an organization grow or crush. They are in the business world, the ‘’heart beat” that determines the survival or otherwise of an organization. This is due to the underlining fact that, without consumers businesses, organizations, or institutions fail to exist. Yet for every entity to succeed, it is important that it identifies the two major categories of its consumers.

THE TWO MAJOR TYPES OF CONSUMERS:

1)      THE PERSONAL OR INDIVIDUAL CONSUMERS

2)      THE ORGANIZATIONAL CONSUMERS

The personal consumers accesses goods and services for their basic use and benefits and are also the sole decision makers in choosing a particular product over the other. First and foremost, the individual consumer makes a purchase for their own benefits, enjoyment and enlightenment. There are various reasons why consumers will choose a product above the other. It could be the packaging, colour combinations or even how consumers are treated. When a consumer makes a purchase it could be for two basic reasons; either to test what has been put out there or access a brand they are aware.

The Organizational consumers tend to be opposite. Decision to access goods and services is not for individual consumption but for the collective use of the entire organization. Organizational consumers also purchase a product for the collect benefit of the institution in which they work. Despite the fact that an individual person in the organization is a head of department, decision to purchase an item is automatically on an organizational level and the product are done for the organizational sake.

CHARACTERISTICS OF A PERSONAL CONSUMER IN THE CONSUMER MARKETS.

1)      They purchase goods and services for consumption rather than resale. Personal consumers buy for domestic use only. Hence they purchase in smaller quantities based on strictly their opinion to prevent items from going waste. 

2)      They also have income levels as a condition to consider when purchasing goods. They really take time to consider how really important a product they are going to get is before they make the move. Income levels also accounts for the type of product also bought hence quality can sometimes be compromise due to cost.

3)      Also individual feelings come to play when decision is being taken. For the mere fact that the product is for domestic use, extra care or time is not taken before going in for a product. Social issues or attributes come to play in purchasing a product hence a personal consumers values are a major factor in going in to buy product.

CHARACTERISTICS OF AN ORGANIZATIONAL CONSUMER IN A BUSINESS MARKET. 

1)      1)They purchase product in large quantities. Most of these products are raw materials like wood, plastics which were converted into other finished products.

2)     2) Organizational consumers usually do not make individualistic opinions when it comes to purchasing products. They consult other members of the organization and even go to the extent of conducting research to find out what their consumers want or needs are. They also go to great length to acquire professional help in their decision making process.

3)      3)Organizational consumers do not easily allow advertisement to confuse or easily persuade them when deciding on product to purchase. They allow rather the needs and wants of their customers to help them make their decision.

4)     4) Organizational consumers are more business minded when it comes to their approach to the market. They will usually take time to look for companies they can purchase from who will give them huge discounts for purchasing in larger amounts.

5)      5)There are more transactions in business markets because business products are often costly and complex. There are also fewer buyers in business markets, but they spend much more than the typical consumer does and have more rigid products standard.

6)      The business marketer normally deals with far fewer but far larger buyers than the consumers marketer does.

MINOR NEW PURCHASERS: They are consumers who are inexperienced in a particular setting which they find highly involving. They usually are those who will take uneducated decisions and can easily be persuade by adverts.

MINOR OLD PURCHASERS: They are those who have new problems to solve. Information they get is limited in helping solve their problem and are limited to simply trying the first brand encountered. They are not allowed to do re-evaluation of already use products.

MAJOR NEW PURCHASERS: Consumers purchase particular products over and over again. The habit or likeness for the product is the driving force.

MAJOR OLD PURCHASERS: They are the loyal consumers of a particular product. They purchase single branded product as their choice to fulfill a specific need.