Compare and Contrast Global Buying Behavior Emerging Markets

Question: Discuss about the Compare and Contrast Global Buying Behavior for Emerging Markets. Answer: Introduction Global buying behavior is determined by the needs, desire and the wants of the global consumer. The global buying behavior, satisfy the wants and the desire of the consumers. Moreover, it helps in profit maximization at the same time (Solomon, 2014). Marketers give immense importance to the research that they conduct on consumer behavior (Thangasamy Patikar, 2016). The research helps them to come up with a better strategic development and a better marketing plan. According to Atsmon, Child, Dobbs Narasimhan (2016), the annual consumption in the emerging market will reach to around $30 trillion by 2025. The journal article, Young Consumers Decision-Making Behavior Towards Casual Wear Buying in Uttar Pradesh, India by Ajit Dhar Dubey, deals with the consumer decision-making behavior of the consumers in India. The journal article, Social Networks and the Buying Behavior of the Consumer, deals with the influence of social network on the purchasing behavior (Rassega, Orlando, Carlo, Val entina, Antonio Nicola, 2015) Compare and Contrast on the Global Buying Behavior Young Consumers Decision-Making Behavior Towards Casual Wear Buying in Uttar Pradesh, India by Ajit Dhar Dubey. Social Networks and the Buying Behavior of the Consumer by Rassega et .al. Study Question India has become a part of the World Trade Organization, in the year 1995. After that, there has been the introduction of the Liberalization act in the Indian market, and other regulations that encouraged the expansion of the foreign company in the Indian market. The study question of this particular journal article deals with the youth market segment in India, and tries to deal with the consumer behavior of this segment in the Indian market (Dubey, 2016). The study question of this particular journal article deals with the fact that whether the firms use social network to influence the purchasing behavior of the consumer. He firms, if they at all use it to influence the purchasing behavior, then how they are using it. Methodology The study here carries out quantitative research. The empirical study research methodology has been used in this particular study. 111 academic articles are used in this particular journal article. The 111 academic journal articles deal with the direct and the indirect effect of social network on consumer behavior. The 111 academic journal articles that are used in this particular research, among them 64 articles are published from the year 2000 to 2014; and 47 articles are published between the 1955 and 1999 year. The academic journal articles refer to those consumers who are the part of the social networking sites and they have an influence on the consumer purchasing behavior. Data Collection Instrument The survey questionnaire is the data collection instrument in this particular case. It is being used as a tool to collect the primary data for the research. The questionnaire include 4 sections and among these 4 sections, there are the purchase behavior related to general casual wear, criteria related to clothing choice, consumer decision-making styles, and personal information. The secondary data analysis is the instrument that is being used in this particular research based study. Demography of the Study Participants The research here includes students from 4 different places in India. The 4 different places are Uttar Pradesh, Lucknow, Kanpur and Gorakhpur. The research here includes the academic journal articles, around the world. Therefore, the main study participants in this particular research are those people who are the part of the social networking sites and who could affect the consumer behavior. The participants in this case study are not the direct participants rather they are the indirect participants. Study findings The findings of this particular research states that among the 20 criteria that were there in the questionnaire, five factors or the criteria, either positively or negatively influence the decision-making style of the consumers. The five factors that are stated here are; Product and Self-image, Style and Quality, durability and easy care, fit and sex appropriateness and finally the price. The decision-making areas that are influenced by these five factors include, the recreational and hedonistic shopping consciousness, brand and fashion consciousness, price and value consciousness and lastly the habitual and brand loyalty. Thus, these four specific areas are affected by the consumer decision-making styles. The research here concludes that the social networking sites could influence the consumer behavior. The social networking sites allow the organizations or the companies to connect with various people who can be the potential consumer. The connection can be made through music, politics, and through other things as well. The connection could help in building the image of the company, which could in return affect or influence the consumer in the global market. The research also finds out that when the organizations or the companies are striving to survive in the competitive market they use the social networking site as an effective tool to influence the global buying behavior and increase the chances of surviving in the market. Therefore, the tool of social network is a valuable tool for the organizations in the global market. (Figure 1: Table Comparing and Contrasting Two Research on Global Buying Behavior) (Source: Created by the Author) Summary of the Findings Therefore, it can be said that the emerging markets in the global context has its significance. The consumer buying behavior is changing with the introduction of the policies like liberalization. The growth or the change may be slow but there is a change in the market and this change will affect the consumer buying behavior. The consumer buying behavior in return will result in profit maximization. The social networking sites too could play an important role in influencing the consumer behavior. Therefore, the organizations that are there all around the world could easily take the help of the social networking site, and be a part of different forums that are there, and could easily build their brand image. Recommendation The research on global buying behavior helps the marketer to come up with the appropriate marketing strategy. Therefore, the small business should use internet market research to find out about the buying behavior of the web-based consumer. The internet research is cost-effective in nature and could easily adapt to the changing behavior of the consumer. The small business could use the market sensing process at the same time; it could provide the small business with the competitive advantage and at the same time could help the marketers by providing them information on consumer behavior. References Atsmon, Y., Child, P., Dobbs, R., Narasimhan, L. (2016).Winning the $30 trillion decathlon: Going for gold in emerging markets(1st ed.). Dubey, A. (2016).Young Consumers Decision-Making Behavior Towards Casual Wear Buying in Uttar Pradesh, India(1st ed.). Rassega, V., Orlando, T., Carlo, T., Valentina, C., Antonio, S., Nicola, P. (2015). Social Networks and the Buying Behavior of the Consumer.Journal of Global Economics,2015. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall. Thangasamy, E. Patikar, D. (2016).Factors Influencing Consumer Buying Behaviour: A Case Study(1st ed.). USA: Global Journals Inc.