Journal of Hotel and Business Management
Open Access

Abstract

Explaining consumer decision making process of millenial generation of batangas province

Marita C. Quizon

Explaining Consumer Decision Making Process of Millennial Generation of Batangas Province” specifically aims to determine the profile of the millennial generation according to the sex, civil status, highest educational attainment, length of time engaged in e-commerce, frequency of usage, geographical location, types of product purchased, mode of payment, and average monthly family income. Also, the researcher sought to assess the acceptance of e-commerce in terms of perceived ease of use, perceived usefulness and attitude towards using the system while consumer decision making process was also assessed in terms of need recognition, information search, comparing the alternatives, purchase and post-purchase stage. Furthermore, it calculated the significant effect of acceptance of e-commerce to consumer decision making process. Extensively, the study further evaluated the significant effect of acceptance of e-commerce  to  consumer decision-making  process when profile of milllenial generation intervenes. And lastly, it aimed to develop an online purchasing model based on the results. Results showed that in terms of highest educational attainment, geographical location and mode of payment, there was a significant effect of consumer decision making process in terms of post-purchase evaluation when these profiles intervene. The generated p-values were .031, .000 and .030 of the above variables respectively. Consequently, the researcher rejected the null hypothesis. Meanwhile, with regard to sex, civil status, length of time of engage in e-commerce, frequency of purchase, and gross monthly family income, the p-values were .229, .656, .226, .061, .793 respectively. An MCQ-5S Online Marketing Model was developed in order to guide those budding entrepreneurs or existing ones in their stance to switch or combine their business into e-commerce.

Market Analysis: A Business plan is the blueprint for taking an idea for a product or service and turning it into a commercially viable reality. The market analysis section of your plan provides the evidence that there is a niche in the market that your company can exploit. This analysis provides the foundation on which your marketing and sales plan will rest.

 

The core components of the market analysis are:

 

·      An industry analysis, which assesses the general industry environment in which you compete.

 

·      A target market analysis, which identifies and quantifies the customers that you will be targeting for sales.

 

·      A competitive analysis, which identifies your competitors and analyses their strengths and weaknesses.

The precise way in which you choose to organize this information is up to you. As long as you include all the basic facts, there are a number of outline forms that can work well. Just keep the purpose of your plan in mind, and highlight or expand the sections that have the greatest application to what you're trying to accomplish.

It's also important to realize that, as you go about planning a business start-up or expansion, you should be doing a lot of research and learning an enormous amount about its marketing environment. Your business plan is not intended to include everything you've learned. It will just summarize the highlights, in a way that shows the reader that you understand your industry, market and individual business

For any Business, the proper plan is much need for taking an idea and making it to the practicable reality. The market analysis of any Business Plan gives you the proof that there is a niche in the market which exploits the present Market World. There are so many components of the market analysis include an industry analysis, a target market analysis and a competitive analysis.

Published Date: 2020-11-25; Received Date: 2020-11-10