BRITISH PETROLEUM CONSUMER BUYING BEHAVIOUR

British Petroleum Consumer Buying Behaviour

Abstract

Generally we consume things for our daily livelihood; we also use and buy these products depending on our needs and demands, preferences and buying power. These can be consumable goods, durable goods, and specialty goods or, developed goods. What we purchase, how we purchase, where and when we purchase, in how much amount we buy depends on our awareness, self-concept, social and cultural background and our age and family cycle, our approaches, views, values, inspiration, nature, social class and many other aspects that are both internal and external to us. In some cultures, there is a lot of prosperity and, these societies can afford to buy in greater amounts and at smaller intervals. In poor cultures, the buyer can barely meet his simplest needs. While purchasing, we also contemplate whether to purchase or not to purchase and, from which source or seller to buy. To identify and investigate the factors influencing consumer's purchase behaviour that has change in the last five years of British Petroleum. There are many petroleum suppliers are available in the market top meet up the demand of the fuel users. A fundamental understanding of consumer behaviour supports all marketing action and is a necessary requirement to organizations being advertising orientated and thus moneymaking. Most products ultimately end up in private households though they will pass through a number of stages on their way from manufacturer to finale consumer. Manufacturers and traders form perpendicular chains or nets, called value a chain, at the end of which is the consumer. Understanding consumer behaviour is not only significant for the manufacturer but for all the other performers in the sequence. The price that the customer puts on the goods or facilities limits what everybody else can get from the value chain. In current years, the organizations of energy sectors have analysed and examined of many forces which have been influenced to the organizations which way they operate it. In today's business world required comprehensive understanding of consumer behaviour. This study is guided by the rationale of exploring these determinants.

Table of Content

CHAPTER ONE: INTRODUCTION6

Overview6

Aims and Objectives of Study10

Research to the Problem10

Statement of the problem12

Limitations of the Study12

CHAPTER TWO: LITERATURE REVIEW14

Company Overview14

History14

Amoco15

Arco15

Castrol16

Stakeholders16

PESTEL18

Political18

Economic19

Social20

Technological20

Environmental21

Legal21

Swot Analysis22

BP's Strategic Management Policy24

Management style24

Consumer-Buying Behavior26

Types of consumer buying decision behavior28

Complex buying behavior28

Dissonance29

Variety29

Buying Decision Process29

Buying Decision Process30

Evaluation of Alternatives31

Purchase decision31

Post purchase behavior31

Theoretical Frame Work32

Consumer Involvement Theory32

Consumer Behavior Models33

Hierarchy needs of consumer behavior model34

The self actualization needs34

Esteem needs35

Social needs35

Safety needs36

Physiological needs36

Consumer behavior model36

CHAPTER THREE: RESEARCH METHODOLOGY48

Research Method48

Instrument48

CHAPTER FOUR: DISCUSSION AND ANALYSIS50

Users of BP50

Demographics:51

Age:51

Gender52

Buying Frequency54

Similarity between actual product and advertisement55

Consumers' satisfaction about promotional activities56

Consumers' Opinion about Product Name57

Consumers' opinion about price58

Consumers' Satisfaction about the Quality of BP Products59

Consumers' suggestion60

CHAPTER 5: CONCLUSION61

Summary62

BP Markets and Buying Behaviour69

Dimensions of BP buying69

Attributes Of BP Buyers70

Primary Concerns of BP Buyers70

Methods of BP Buying71

REFERENCES74

BIBLIOGRAPHY85

APPENDIX92

CHAPTER ONE: INTRODUCTION

Overview

Understanding consumer buying behaviour is crucial for successful marketing. Those acts of individuals directly involved in obtaining, using & disposing of economic goods and services, including the decision processes that precede and determine these ...