New Balance: Understanding Consumer Decision-Making Process - Essay Sample

Introduction

The consumer decision-making process is the stage where a consumer can identify their needs, evaluate alternatives, and make their buying decision. Consumer behavior may be determined by certain things, such as economic and psychological factors (Aaker & McLoughlin, 2009). The New balance company also faces the consumer decision-making process; most of the consumers have defense on their product. The consumer is given a piece of information concerning infection and music fame. The evaluation of alternatives has helped in allowing the consumer to make their opinion based on the product that is produced in the market. For instance, our New balanced company will introduce new and unique products that will boost their customer desires and attitude.

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There has been a massive competition in the footwear service and organizations; this has led to the creation of the introduction of a low-price commodity system where all the products. Post-purchase behavior plays an essential role in determining whether the customer is useful to the company's goals. According to the New balance company, the post-purchase behavior of the customer should be respected to produce the right amount of product sales in the market.

There are five stages of the consumer decision-making process that affects New Balanced products. Need recognition happens when a particular customer has found their need for a specific product in the market (Amir & Bloch, 2009). As the management team of the organization, we will ensure that the need of the customer is recognized in the company. The information search also affects the purchase structure of the product by the customers since they will be in a position to research the most suitable product in the market. New Balance organization has created several customer awareness and training programs in educating the customers on their intended development plan.

There are several lists that consumers should access to continue thriving in the market. Different alternatives of the products in the market I number one advantage for other companies to thrive. New Balance company, however, introduced a standardized price, product quality of the goods. This plan has led to an apparent reduction of competitors on the product produced by the company. The purchasing decision by the customer has transformed New balance company product image in the market in one dimension to the other.

Major Influences on Process

There is a significant influence that affects the growth of the company from one perspective to the other. New balances companies have faced specific powers such as trust, competition, records, risks, network, and patience (Wah et al., 2016). Trust is a significant influence in the operation of an effective organization development structure. The trust between the employees and manager play an essential role in increasing the productivity of the organizational services. Customer and their co-workers should be confident that they can depend on one another. Competition is a significant threat and influence to most of the organizations. The New Balance company has studied the market to set various measures in establishing a stable and competitive organization in the market.

As a management head of the organization, we have developed a plan where an essential document has been stored to save our credibility and to prove our point of view. Some of the vital departments that we have created useful records include finance, idea, employees, and ideas (Wilson & Gilligan, 2012). The other influencer is the networking; New balance organization has established a secure connection with a wide variety of respect in our society currently. Networking helps the organization in developing a strong idea, advice, and employee welfare (Wilson & Gilligan, 2012). Risk is one of the significant challenges that led to the growth and establishment of a robust operational structure in the organization. New Balance organization has created a comprehensive risk of various operations that it undertakes in the organization structure.

Recent Changes

In New Balance, numerous changes have been experienced in the company's operational structure. Some of the latest changes include sensemaking, purpose-based employee involvement, processes to continuous development, implementing change, digitalization, and social media (Amir & Bloch, 2009). With the current change in various trends in the market, there is a need to develop a strong sense. The ability to adapt quickly will turn out to be an essential factor in the growth and stability of different services in society. A new balance organization has deployed the purpose-based employee involvement structure. In this system, everyone is participating in the goal and objectives set by the organization structure. According to the survey that was done indicated that more than 80% of different organizations had used this plan in transforming their operation in the market (Wilson & Gilligan, 2012).

Facilitation skills are currently becoming more sensitive in the market structure in one dimension to the other. The facilitation skills have created a significant impact on the growth and stability of the organization's operational structure. New balance organization has deployed a powerful social media platform which they continuously reach out to all their customers. Based on the survey that was done indicated that over 80% of customers are currently being turned in social media platforms (Aaker & McLoughlin, 2009).

Brand Uniqueness

The following recent changes may be unique for the brand of New balance because they will transform the product image and appealing rates to the customers. The brand also will be easier to sell to the customer due to its structure and uniqueness. The product also will able to reach a huge number of customers in the market effectively.

References

Aaker, D. A., & McLoughlin, D. (2009). Strategic market management: global perspectives. John Wiley & Sons.Retrieved from https://books.google.com/books?hl=en&lr=&id=tpW22FvYvn8C&oi=fnd&pg=PR9&dq=strategic+market+analysis&ots=HfuGDqh-bm&sig=FU9NifLYWadVfrq7Zf_lq-8NI8k

Amir, R., & Bloch, F. (2009). Comparative statics in a simple class of strategic market games. Games and economic behavior, 65(1), 7-24.Retrieved from https://www.sciencedirect.com/science/article/pii/S0899825607001443

Dess, G. (2013). Strategic management: Text and cases. McGraw-Hill Education.Retrieved from https://lib.hpu.edu.vn/handle/123456789/32831

Wah, E., Hurd, D., & Wellman, M. (2016). Strategic market choice: Frequent call markets vs. continuous double auctions for fast and slow traders. EAI Endorsed Transactions on Serious Games, 3(10).Retrieved from http://strategicreasoning.org/wp-content/uploads/2015/06/amma_ewah.pdf

Wilson, R. M., & Gilligan, C. (2012). Strategic marketing management. Routledge.Retrieved from https://www.taylorfrancis.com/books/978008046857