Consumer Behaviour Assignment: Survey Analysis On Panadol Tablet

Question

Task:
Write a 1200-word report on consumer behaviour assignment critically analysing the survey conducted on the consumer behaviour towards Panadol tablet

Answer

Introduction
The consumer behaviour assignment is based on the survey which was conducted on the consumers who purchased Panadol tablet.

Consumer behaviour is the study of the customers who buy and use good and services. The main aim is to find out the motives behind the purchase of the goods and services (Kansal, Pathania and Saini, 2017).

Purpose of the survey
The main purpose of this assignment is to analyse the results of the survey which was conducted to study the factors determining human behaviour and psychology while buying any product or service. The main objective of the survey is:

The main goal of the survey is to collect responses from the consumers who purchased Panadol tablet:

• To find all the factors which are responsible to initiating a purchase of Panadol tablet.
• To explore the psychology of the consumers who purchased Panadol tablet.
• To analyse how consumer behaviour theory works while purchasing Panadol tablet

Administration method
The product considered for this survey is Panadol tablet. The tablet is a paracetamol tablet which is used for the treatment of families. The tablet cures headache, cold, backache, pains and nausea. The method of collecting the data will be survey method in which 10 question survey will be designed and the consumers purchasing the Panadol tablet will be asked to fill out the survey. These questions will be based on the perception and emotions of the consumers and about what motivated them to purchase this product. I have used Survey monkey in order to prepare the questionnaire and to collect the responses from the customers.

Justification of the Chosen Method
The method of survey is very feasible as it takes lesser time and helps in collecting more information from the consumers/ respondents. This method also needs lesser capital investment which makes it cheaper than other methods of collecting information (Cherry, 2020).

Summary of the Collected Responses
The first question asks about the reason of buying Panadol tablet and 60% of them said they were recommended by someone. In the second question, 60% of the respondents said they cane to know about the product from social media. Only 20% of them were prescribed by the doctor. When the consumers were asked what influenced them the most for purchasing the product, 50% of them said Internal sources of information while 50% others said external sources of information. In the 4th question, when it was asked that have consumers gone through evaluation of alternatives for Panadol tablet, 60% of them said No.

In the fifth question, it was aske that which feature the consumers consider the most while evaluating the alternatives for Panadol tablet and 50% of them said price and rest 20%, 20% and 10% gone for quality, effectiveness and availability respectively. The 6th question was about what feature of Panadol tablet attracted consumers the most and 60% of them said its effectiveness. Most of the consumers, in the 7th question, answered that they have used cash for purchasing the product and then 30% said they used credit/ debit cards for purchasing the product.

In the 8th question, the consumers are asked whether they have compared the price of the product on online and offline platforms and 60% of them said No. In the 9th question, the consumers have asked from where they have bought Panadol tablet and 60% of them said from medical stores offline or online stores. In 10th question, it is asked would they recommend buying Panadol tablet to others and 90% of them said Yes.

Critical Analysis of the Key Findings
It is very clear from the survey results there are different factors which helps consumers to take different buying decisions. The consumers have different perceptions, emotions and likes and dislikes which helps in taking varied decisions for buying products and services. There is a consumer behavior theory behind it which says that the consumers go through various stages for taking a decision to make a purchase of a product or service (Panwar, et. al., 2019).

The key findings which were stated in the last section shows that people bought Panadol tablet because they were recommended by someone. This means that people are very much influenced by the recommendations given by people. As per Shaheen and Lodhi (2016), people are very much active on social media these days because most of the survey respondents got to know about the product on social media. People are prescribed through the doctors also for medicine.

People are motivated to buy the product through both internal and External factors. Also, people evaluate the alternatives before purchasing any product. However, in the case of medicines where people buy what is recommended or prescribed, people do not compare the medicines of same salt and they prefer to go with the same medicine only. This brings lesser comparison among the product purchased by the consumers (Willman-Iivarinen, 2017).

Also, price plays a major role while purchasing any product. People are very much concerned about the price of the product and they consider price feature when they compare various alternatives. Quality and effectiveness are other factors which are considered by the consumers while purchasing the products. On the other hand, people also give highest importance to the effectiveness of the Panadol tablet which attracted the consumers. When the product is effective, the consumers does not consider price of the product.

Most of the consumers consider cash as the most suitable option for purchasing the products. It is because cash is convenient for people to pay. Also, for medicinal items people do not compare much and they buy the products which are recommended to them.

It is also analysed from the survey findings that people buy medicinal items from the medical stores whether offline or online. The consumers also tend to recommend the product which is satisfying and price effective. Consumer satisfaction is very important for a successful consumer behaviour process.

References
Panwar, D., Anand, S., Ali, F. and Singal, K., 2019. Consumer decision making process models and their applications to market strategy. International Management Review, 15(1), pp. 36-44.

Parker, S., 2018. Malaria drug: rescheduling treatment adherence: clinical. Medical Chronicle, 2018(Mar 2018), pp. 2-3.

Shaheen, M. and Lodhi, R. N., 2016. Impacts of social media marketing on consumer decision making process: Descriptive study of Pakistan. Journal of Business Strategies, 10(1), p. 57.

Willman-Iivarinen, H., 2017. The future of consumer decision making. European Journal of Futures Research, 5(1), p. 14.