What Do You Know About The Consumer Gifting Behaviour?

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What Do You Know About The Consumer Gifting Behaviour?

2 Answers

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Answer 1

Corporate Gifting behavior has been defined as ‘the process of gift change that takes place between a giver and a recipient. Traditions, as it shows generosity and caring. However, how to select a right gift to the right person which is a normal question for every buyer.

For gift giving, there are two critical things we should know, that are what you want to buy and who do you want to send.

There are four main functions of gift giving:

mark important life events. (holidays, birthdays, weddings etc.)
establish and maintain interpersonal relationships. (buy a gift for your customer)
create a medium of economic exchange.
socialize children into the customs of society.

In business, maintain relationship with the customer is very important. Management Innovation (2010) pointed out that relationship marketing impacts consumer’s decisions and their consumption satisfaction. Firms establish loyalty programs to foster usage loyalty and a commitment to continued usage of their products and services. Relationship marketing is all about building trust between the firm and its customers and keeping promises made to the customers. Therefore the focus is always on developing long term bonds with customers by making them feeL special and by providing them with personalized services.

Another important thing for gift giving that is cultural difference.
In the lecture, I had a deep impression on the video which is about cultural difference in consumer gifting behavior. In China, gift giving has strict rules. There are some rules for gift giving in China.
Chinese people do not usually accept a gift for a new friend, so they will politely refuse two or three times before accepting, it means modesty and humility.

It should be notices that accepting something in haste makes a person look aggressive and greedy, as does opening it in front of the giver.

In addition, when a gift is given, it should be offered with two hands. Any gift offered with two hands should always be received with two hands.

Moreover, If possible, have your gifts wrapped in red paper, which is considered a lucky color. Pink, gold and silver are also acceptable colors for gift wrap. Gifts wrapped in yellow paper with black writing are given only to the dead.

Answer 2

In terms of both dollars spend each year and how they make givers and receivers feel, gifts are a particularly interesting part of consumer behavior. Products and services chosen as gifts represent more than ordinary every day purchases. Because of their symbolic meaning they are associated with such important events as mother's day, birth and birthdays, engagements, weddings, graduations and many other accomplishments and milestones.

Gifting behavior has been described as the process if gift exchange that takes place between a giver and a recipient. The definition is broad in nature and embraces gifts given voluntarily as well as gifts that are an obligation. It includes gifts given to others and gifts to oneself. Indeed 96 percent of Americans purchased at least one gift. Last year majority of gifts that were purchased were for gifts purpose.

Gift purchases represents 10 percent of all retail purchases in North America and over $100 billion is spent annually on gifts in the United States. Still gifting is an act of symbolic communication with explicit and implicit meaning ranging from congratulations, love and regret to obligation and dominance. The nature of the relationship between gift giver and gift receiver is an important is choosing a gift.