Buyer behavior regarding Donald B
The following report would discuss about the buyer behavior of the Donald B company who is the manufacturer of the chocolates and who has two stores in Melbourne. The company also wants to produce the expand its business operations in the area of specialty stores in the city. The company mainly deals in glazed fruit, liquorice and glazed fruit.
Buyer behavior regarding Donald B chocolates
- Psychological factors- The psychological factors of the buyers which influence the decisions of buying the chocolate products are motivational factors, positive perceptions, personality and learning theories etc.
- Socio-Cultural factors- The socio-cultural factors of the buyer’s behavior such as reference group, family, work group, society etc. are affecting the buying decision of chocolates among the customers.
- Behavioral model- According to the behavioral model, certain values and beliefs of the individuals plays an important role in deciding whether they want to buy the products or not.
- Cost of product- Cost of the products is also another factor that is helpful for the individuals to decide about them. If the cost of the product or services is low, more consumers would like to buy the goods from them.
Micro environmental factors that affects the buyer behavior of Donald B customers
- Resellers- The resellers are retailers and the wholesalers of the company which are an essential link for the organization in its distribution network. But due to market trend of online selling, the need of resellers is very less.
- Suppliers- The suppliers of the organization [provides raw material for manufacturing the chocolates. Without good raw material, the manufacturing activities cannot be taken effectively.
- Competitors- The main competitors of the organization are Mondelez International, Kraft’s, Hershey’s etc. who are providing toughest competition to the Donald B chocolate.
- Customers- Customers of the organization are chocolate lovers and the consumers who consider chocolate as fit of their consumption.
- Public- The public or the trends among society must also be considered by the company such as healthy and the digestible consumption trend among individuals.
- Mars Inc.- Mars chocolate can be likely competitors for the company as the company is second largest chocolate company in Australia. And it has total 9 leading brands. Majorly it deals with products such as Food, Wrigley, chocolate and their main strategy if targeting individuals who are more than 12 years of age.
- Hershey- It could also be one of the leading competitors. It targets individuals from age group of 15-24.
- Political/legal- These political, Legal actors must be followed by the Donald B such as Food standards Act, Environment Act and other regulations etc.
- Economic factors- FMCG sector is one of the largest industries of Australia, it contributes to nearly 60% to the GDP of the Australia. Therefore, company is benefited from good condition of Australian FMCG industry.
- Socio-cultural/ Ecological factors- There are many cultural and social that must be considered by the company such as going trend towards healthier consumption and obtaining sustainable products.
- Technological- Many technological advancements are used to manufacture and market the products of chocolate industry such as AI and robotics arms.