Consumer Behaviour in Global Business

Consumer behaviour is the most important aspect for business organizations that helps to understand the influences of consumers on purchasing decisions. The research topic is reviewing approaches to gaps in customer behaviour for developing a better business plan (Conboy, et al., 2020). Through understanding, consumers' behaviour in purchasing products helps to fill the gap in business markets in a better way. It also helps business organisations to develop products and services as per the consumer's perspective for future betterment. The researcher has chosen this research topic for increasing future scope for future researchers.

Consumer behaviour is influenced by four factors such as cultural, personal, social, and psychological factors for building a better business plan. The researcher will evaluate all factors for analysing the consumer's behaviour for the betterment of business purposes (Paul, 2019). Basically, consumer behaviour helps a business organisation to decide which products and services will be manufactured or offered in the targeted business market while understanding what consumers buy and how they decide to purchase those products in which business organisations can more easily cultivate the need of consumers that helps to satisfy them. It also helps to develop a better business plan along with cultural psychological personal and social factors that are helping to develop a business market.

Section 3: Research Aim and Objectives

The aim of this research paper is to analyse the gap in consumer behaviour approaches that affect the Global Business market. Consumer behaviour helps to enhance the targeted market and production of a particular business organisation. Through this analysis business organisations will understand the importance of the consumer behaviours influencer for conducting business in the Global Business market.

Section 4: Literature review

Consumer behaviour

Consumer behaviour is the analysis study that helps to understand the individual's and organisations' selection of products and services that helps to satisfy consumers in the targeted business market (Bashir, and Farooq, 2019). It is mainly concerned with the motivation behaviour and psychological factors of the consumers that they are using to purchase products and services from the particular business organisation. Analyzing consumer behaviour is the most important factor for marketers for understanding the expectations of consumers about the products and services which are providing them. It also helps to understand which aspects will make happy consumers after purchasing the product. This information is important for the business managers or analyzers to understand the purchase or rejections of the product or services by consumers.

Sociological Model of consumer behaviour

Sociological models help to understand a more realistic basis for knowing social reality through embedding the most important aspects of the environment such as structure, culture and social models (Leyva, R., 2019). The Sociological model of consumer behaviour is the framework or tool that helps to explain why people will behave while purchasing products from a particular business organisation. This model includes 3 interacting components such as structural Sociological and political factors for making decisions while purchasing a product or service. The purpose of the Sociological model is to provide a clear overview of the way humans think or behave for categorizing them into smaller scope for the betterment of society. Sociological theory often overlaps with major factors such as politics or philosophy.

Black box model

The black box model of consumer behaviour helps to identify the responsible factors that influence consumer behaviour for purchasing products from particular business organisations. A full stop is mainly focused on the consumers' thinking and problem-solving aspects for increasing the external and internal factors of the business organisation (Lakkaraju, et al., 2019). The internal factors of the Black Box are the consumer characteristics and the decision-making process. The external factors of the black box are the marketing mix and environmental factors. Responses to the black box includes purchasing behaviour of the consumers. This framework is mainly used for understanding problem recognition information search evaluation of alternative purchase Decisions and post-purchase behaviour of the consumers. The black box model helps to understand the consumer behaviors for increasing the future scope for the marketers.

EKB model

The EKB stands for Engle, Kollat and Blackwell model that was proposed to describe or organized the growing body of research that is concerning consumer behaviour. It is a comprehensive model that sources the various components of consumer decision making and introductions among them (Loxton, et al., 2020). This model includes some stages that help to understand consumer behaviour such as information processing, input, decision process stage, decision process variables, and external influences.

Section 5: Research Methodology

Research philosophy

The research philosophy is the belief in the way in which important data about the research topic will be gathered, used and analysed. The researchers mainly used research philosophies such as positivism and interpretivism. The researcher has used the positivism philosophy to gather information about the consumer behaviors that are helping to fill the market gap in the Global Business market. It also helps researchers to enhance choices that are applied for the purpose of design and methodology or methods for the data analysis and interpretations of the research paper.

Method of data collection

The researchers use the primary and secondary data collection for research purposes. The secondary data collection process is used by the researcher for collecting data about the research topic such as analyzing the consumer behaviors that help to fill the market gaps in the Global Business market (Johhson, and Sylvia, 2018). The secondary data collection method helps together information from the existing sources such as peer-reviewed business journals or articles and websites.

Sampling Strategy

The researcher has used the purposive sampling strategy that is also known as subjective sampling which helps to analyse the reviewed journals or articles about the chosen research topic. This sampling strategy helps to gather qualitative information about the chosen research topic and provide future scope.

Data analysis method

The researcher has used the systematic review for the data analysis process and completed the research work in a better way. The peer-reviewed journals and articles will help to gather important information or facts that are helping to complete the research work within a limited period of time.

Section 6- Gantt Chart

MBA GLOBAL APRIL 2022 COHORT
Task	April 2022	May 2022	June 2022	July 2022	August 2022	September 2022
Submit proposal
Allocated supervisor	April 13^th
Contact supervisor	X
Literature review		X
Methodology			X
Data collection				X
Findings					X
Discussion					X
Introduction & Conclusion						X
Complete first draft						X
Rewrites						X
Submit final draft						September 30^th

Section 7- Ethical consideration

Question	Yes	No	N/A
1. Does the aim and method of your research respect the independence of your participants?	X
2. Are measures in place to ensure confidentiality for participants?	X
3. Are participants clearly asked to give consent to take part in the research?	X
4. Can participants withdraw at any time if they chose?	X

Question	Yes	No	N/A
1. Do the objectives of your research lead participants to break confidentiality or otherwise engage in deceit?		X
2. Will your respondents be in a position where they might feel coerced into taking part in the research?		X
3. Will the data be used in ways not fully explained to the participants or respondents?		X
4. Is your research at all likely to cause physical or psychological harm or stress to participants?		X
5. Is the impartiality of the research at risk of being compromised by dependence upon the support of a particular sponsor or organisation?		X

Section 8-Student Signature

I hereby declare that the questions in section 7 have been answered correctly and that if ethical issues emerge in the course of my research then I will notify my supervisor immediately.

Student Name (Print):

XXXXXXXX

Date:

XXXXX

References

Bashir, M. and Farooq, R., 2019. The synergetic effect of knowledge management and business model innovation on firm competence: A systematic review. International Journal of Innovation Science.

Conboy, K., Mikalef, P., Dennehy, D. and Krogstie, J., 2020. Using business analytics to enhance dynamic capabilities in operations research: A case analysis and research agenda. European Journal of Operational Research, 281(3), pp.656-672.

Johhson, E. and Sylvia, M.L., 2018. Secondary data collection. Critical Analytics and Data Management for the DNP, p.61.

Lakkaraju, H., Kamar, E., Caruana, R. and Leskovec, J., 2019, January. Faithful and customizable explanations of black box models. In Proceedings of the 2019 AAAI/ACM Conference on AI, Ethics, and Society (pp. 131-138).

Leyva, R., 2019. Towards a cognitive-sociological theory of subjectivity and habitus formation in neoliberal societies. European Journal of Social Theory, 22(2), pp.250-271.

Loxton, M., Truskett, R., Scarf, B., Sindone, L., Baldry, G. and Zhao, Y., 2020. Consumer behaviour during crises: Preliminary research on how coronavirus has manifested consumer panic buying, herd mentality, changing discretionary spending and the role of the media in influencing behaviour. Journal of risk and financial management, 13(8), p.166.

Paul, J., 2019. Marketing in emerging markets: a review, theoretical synthesis and extension. International Journal of Emerging Markets.