Exam Essay Example | Topics and Well Written Essays - 1250 words - 7

Exam - Essay Example The most prevalent theory of buyer behaviour in respect of marketing activities is the ‘Utility Theory.’ This theory proposes that; buyers make decisions based on the expected result of their decisions (Bray, 2012). Buyers employ a rational behaviour when choosing commodities to consume; that is, they are concerned with self interest. Marketers are always aware that buyers will only consider the products and services that achieve the highest level of satisfaction. With this knowledge, companies produce products that meet the buyers’ needs. This theory views a buyer as ‘a rational man.’ Companies are influenced by this behaviour to design a product or service that will be desirable to the buyers. Marketing activities tend to focus on research and pricing domain of the product or service. There are various factors that influence consumers; according to contemporary research on buyer behaviour. Buyer behaviour arises from the objective of satisfying a need. This stage advances in information search; on a product that satisfies the need. The buyer then evaluates various alternatives obtained from information search. A purchase intention arises from the evaluation of alternatives. The purchase intention triggers the buyer to buy the product or service, consumes it, and then disposes it. This is the complete view of buyer behaviour. Marketers are aware that buyer behaviour advances from; a need to the actual transaction. Marketing activities will tend to focus on promoting their products and services. This promotion creates awareness; that is, it sensitizes the potential buyers about a particular product or service being offered. Buyers tend to apply a cognitive approach when deciding on which products or services to consume. This approach focuses on the buyers’ observed behaviour to intrapersonal cognition. The experience achieved from the previous use of a product or service