IntroductionStart guiding their marketing strategy development based on the

IntroductionStart up businesses need to find out key strategies through which they could establish a strong presence in front of their target customers and attempt to grab their attention towards their business. UK is suitable market for the start up businesses, which is the reason behind more than 100 starts up businesses are launched here every year. For the start up businesses, marketing strategies are highly important, as these strategies help the organization to develop its presence in front of their customers. In addition, start up businesses must do adequate market research to know their customers, their preferences, perceptions and other decision-making features, in order to find out the best way to motivate their purchase decisions towards their products or services. In addition to understand the consumer psychology, the business marketers must also gain information about the environmental factors;those could affect the purchase decision-making path or perceptions about the product or service offered by the business. Thus, the start up businesses need to understand and follow several consumer psychology framework or purchase decision models, for supporting or guiding their marketing strategy development based on the consumer’s features related to purchase decisions. The current assignment is focusing upon suggestions for a start up business in UK, to develop marketing strategies based on the consumer psychology and other aspects, to explore how it is affecting the business.Organization profileVape Shoreditch is an UK based start-up, which mainly deals in providing e-liquids to various “social smokers” through their subscription services. Their e-liquids are based on flavors that are widely popular in the UK and at the same time custom-made in accordance to their consumers’ demands.Founded by Ryan Shaw, Paul Tarr and Andrew Kirby in August 2014, the company was able to gain funding of more than USD$ 0.5 million in a span of 1 year. Ryan Shaw is their present CEO. Their headquarters are situated in Greater London, England at 86-90 Paul Street.In less than two years, Vape Shoreditch has been able to attract more than 6,500 subscribers helping the company generate more than £ 1.4 million by the end of 2016 and the company plans to generate more than £ 2.7 million by the end of 2017 (Vapeshoreditch.com, 2018). Vape Shoreditch has plans to open more than 500 vape stores across five different European countries while reaching more than 15,000 active subscribers in England, Germany and France.RecommendationsWhile developing a start up business like Vape shoreditch, the marketer must study the behavior and psychology of purchasing products of the target customers, in order to gain an idea about the means through which they could grab the attention of their customers. In this context, it is important to understand the consumer psychology frameworks and concepts related to their purchase decision making. The consumer decision-making process is a process of making purchase, which includes five steps including need recognition, information search, evaluation or alternatives, purchase and post purchase behavior. In this context, it has been revealed that Vape Shoreditch need to continue with the exploration with their continuous information search. The customer decision-making model helps to understand the way through which a consumer makes the decision of purchasing a product. In this context, they go through the following five steps, which influence the motivation of the customers negatively. The marketers make decisions on marketing strategies based on the key features of their consumers’purchase decision-making, in order to influence or motivate them to purchase the products or services they are offering. The key recommendations are as follows:Recommendation 1- Developing social presence through Facebook, InstagramThe presence of social media is so much important for a start-up company to evaluate growth in the Marketing strategies. No agencies can survive without the presence of social media as it is the most successful element for retailers. As per statistics of UK, it can be seen that 80%of UK citizens were actively present in social media platform, hence advertising on social media can involve huge crowd of customer towards their products. As marketing and advertising budget is limited, therefore it is needed to overlook the importance of communication in social media. Being active in social media ensure a proper growth of followers towards their products at free of cost and represents a better compelling benefits onwards a established firm in the presence of social media. Staff and services in a company can be instantly mailed on social media at free of cost. Maximum division in marketing strategies can be developed so as to create maximum chances for updates and posts to be get viewed by customers. The main key is to search for the best-suited social site according to the business requirements and promotion, to attract maximum customers towards their company. When it is about audience engagement, there must be a very expert leaderin the social media platform to evaluate posts in Instagram, as it receives ten times more interactions per hundred followers in the Facebook. Instagram has greatest market penetration strategy as per old demographic records. Instagram stories were currently the highest rated ticket for making customers all together regarding a specific company. Some platforms in social media attribute towards failure due to being deficient in customer satisfaction (Tuarob and Tucker, 2015).As per in Vape shoreditch of UK, it can be seen that due to lack of social media support it could not achieve targeted traffics according to their customer needs and demands. As we know,impact of social media in any company can boost the search-engine optimization sites effectively. Social media can build a better relationship building between company and customer, which can enhance profitability scenario in the company. As Vape Shoreditch is lacking the influence of social media, there is very low bonding between the vegan customers with the company and hence profit rate is degrading slowly in the company. Responding to problems can easily be analysed by feedbacks of customers and achieve modifications in the company as per requirements of customers. Vape Shoreditch is not gaining any feedback of customer due to inactive in social media and capacity of audience gathering is also degrading. A well engagement of social media in company would help the company to communicate the product value among the customers in an efficient manner (Fan et al., 2016). In this manner, the company would be able to increase social awareness regarding the negative impact of tobacco, which has a positive impact on organizational brand value. According to Vape Shoreditch, brand loyalty is necessary to gain customer attention towards their products for best performance regarding marketing and selling. News jacking is so must important field where social media plays very crucial role regarding brand promotion. Due to lack of influence on social median and news jacking on Vape Shoreditch, this company is losing all potential customers. Influence of social media is highly needed in Vape Shoreditch to build a healthy marketing and sales image towards this marketing scenario of social media (Ryan, 2016).In the second step in the consumer decision-making model, consumers conduct information search according to their needs. People nowadays have become significantly capable of identifying the right thing they want, where they are getting assistance from the online search engines as well as word of mouth (Swann, 2018). Therefore, in order to grab the attention of consumers and influence their purchase decision, the marketers need to be available and attentive in these search engines as well as within the local community to be referredby some other. On the other hand, it is also evident that previous experience is a key factor that influences the decision-making about purchase by the consumer (Wu et al.,2017). In this context, it has been revealed that customers often pay extra time for identifying the best option by information search. Thus, in case of Vape shoreditch, they need to make a top presence in the popular search engines like Google. In addition, while developing presence in the social media, like Facebook or Instagram, their posts must be visualize on a regular basis, but it is also noteworthy that the posts are not becoming too much annoying for the consumers, so that they becomes de-motivated towards their options. The consumers feel that something is missing and they needs to address that thing to feel normal. If the marketer, can understand when the target demographic is developing these needs that would be the ideal time for promoting the brand(Poole, 2017). For instance, in case of Vape Shoreditch, they must promote their brand and offer products to the smokers.Recommendation 2- Competitive pricing strategyCompetitive pricing is so much needed in a company to keep the product pricing in a company according to the changing scenario of competition. Vape shoreditch is completely based on E-Liquid and therefore, the market competition is significantly high. As a result, the company needs to be careful while implementing pricing strategies (Berger, 2016). Competitive pricing strategy would help the company to attract customers toward the brand. The competitive strategy in pricing is attainedby any company when the product pricing reaches the equilibrium level. Such scenario in the marketing products occurs when a specific product is kept in a company for a long time and got so many alternatives in the competitive surroundings. Competitive pricing basically got two strategies, which is above the competition and below the market. Above the competition refers to keeping the product specification with premium warranty to gain generous payments and extra features in production (Alexander, 2014).Whereas setting a below market ‘pricing strategy’ is all about taking potential loss in the business environment to have faith on customer regarding purchasing extra products by exposing offers to the customer.As in the case of Vape Shoreditch it can be observed that, competitive pricing scheme is very low due to its negligence on customer feedbacks, which is essential, to mark offers and pricing of products followed by customer psychology and needs.Loss leader is a service that is offered at high discount that results in loss of product as it sold below the cost, Vape Shoreditch is affected by this scheme of loss leader as it is not well known to their competition and competitors in the marketing environment (Nagle et al., 2016).Once the consumers have searched enough information about the stuff they want to buy, based on their needs, it has been seen that they then compare the alternative options, for identifying the best possible option for them. In this context, it is noteworthy that the marketer should be enough appealing and must provide additional benefits to the consumer, so that consumers could recognize their products as the best offers, overwhelming the others. In this context, Vape Shoreditch must provide an appealing price range with variety of product range. For instance, they need to provide significant variation in the products, including unique design and built quality of the product. Moreover, the company should also focus on a range of flavors in order to satisfy customers with different preferences. On the other hand, another aspect they need to consider is product availability. For instance, they need to implement the pricing strategy based on the model version and flavor of the E-liquid. It is because, consumers would not attempt to buy or order E-liquid, which are out of their locality and they would cut the option out within the range of similar alternatives. Pricing is the most crucial strategy to influence consumer’s purchase decisions in marketing (Armstrong et al., 2015). A businessmust keep their focus on competition level to differentiate products that is formed by their competitors. Creating, a high rated scenario regarding product scan keep the sustainability of profit in the company for long term. The technique, which can increase traffic towards a business, is based on low pricing of aforementioned product. Once potential customer visits the online retail store, there must be proper details of the products along with its specification and usability. This strategy is not only involved in attracting new audiences to the company, along with this, it enhances inventory move in business that became stagnant. Retailers must maintain their attitude towards point of competitive pricing to make effective changes in timely fashion and can offer matched competitors about advertised prices of products. There must be effective price matching strategy in the company to receive products at lower prices and not creating risk on customers to take their business solely for the pricing reason. A beneficial trading plan must be created by the company with loyal traders to keep the online strategy on trade at right pathway than taking any risk on their product pricing in comparison with the competitors. A market leader must have highest market share in the industry to evaluate dominance effect on competitive landscape with giving proper direction towards product sale. Ideal characteristic of product and market consideration as per brand can associate consumers with beneficial offerings to them. Perfect competition can be gainedin the market structure by following identical products in firm, controlling market price according to products, ensuring relatively small shares on market, proper knowledge of sold product and price change must be known by firm and gaining perfect pricing towards their products relevant to customer satisfaction (Brown, 2017).Recommendation 3- Promotional offers and user specific promo codeAs a start-up, Vape Shoreditch has been more than able to build up funds from various sources. This allows the company to provide their consumers with various promotional offers. For example, the company offers their regular subscribers with promotional offers that give them discounts up to 50% on their annual subscriptions. The company follows a system of not only order length but also order size. For example, if a subscriber orders more than 500 ml of a vape liquid from their company, Vape Shoreditch gives them an extra 50ml for every order of that size. Although these promotional offers are generally deemed as potential risks for start-ups, this particular company is quite positive of their strategy based on the outlook that these methods will enable the company to not only retain their present customers for a long-term basis but also attract new consumers (Maity and Dass, 2014.). Their promotional methods are not only limited to discounts, but the company also makes use of specific user promo codes to attract consumers from their rivals. For example, first time customers are rewarded with reward points that they can use at checkout while paying for their ordered products. At the same time, Vape Shoreditch has entered into a joint venture with premium banks that allows users of that particular bank to get special discounts when they pay with their Visa cards. In terms of the Customer Decision Making Process (CDMP), the promotional offers that Vape Shoreditch makes use of has an impact on the customers’ buying preferences and affects their attitude when they are still deciding which company to order from. There are five distinct stages of the CDMP; namely, need recognition, information search, evaluation of alternatives, purchase and post purchase. The special promo codes have an impact in the evaluation of alternatives, whereas the promotional offers play a very big part in information search as well as purchase and post purchase. At the time of providing promotional offers to their consumers, the company will initially have to reach out to their consumers before the consumers reach out to them in search of quality and cheap vape liquids (Mackey et al., 2015). Thus, promotional offers will only attract new customers if Vape Shoreditch markets this strategy extensively across all of their websites. Although this could incur additional costs, Vape Shoreditch will have to have the same positive outlook that allows them to offer their products at comparatively lower prices than their consumers.Once the strategy is well known by the potential consumers, the company has to focus on SEO (Search Engine Optimization) so that their results are maximum when searched with a particular set of keywords (Ledford, 2015).Through this, the company can ensure that when consumers come online in search of companies that provide vape liquids at affordable prices, Vape Shoreditch can expect to be one of the top three results that appear on the customer’s screen. Once the information search is affected, consumers then resort to comparing the different companies based on their needs and the choice of their vape liquids. Using special promo codes can help the company have a great impact in this part. Once consumers see that Vape Shoreditch offer great deals on their products, they will abstain from buying from other companies. This influences their purchase decision. Once they have made a purchase, Vape Shoreditch will then have to focus on retaining their consumers. As has been mentioned above, through their discounts and promotional offers for regular consumers, the company can affect the post purchase decision of their consumers as well.The biggest advantage of this strategy is that it shall not only help the company retain their consumers but attract new consumers from all over the world. Their objective of reaching revenues of £ 2.7 million should be achievable if the company makes extensive use of this strategy. However, there are a few major drawbacks of this strategy as well. The initial funds required to indulge in extensive marketing strategies could be quite high. In addition, many similar companies make use of this strategy with variable success rates. Another huge drawback is the reuse of promo codes that has greatly plagued many current businesses. Users have been known to create multiple accounts to order from a specific seller. By doing so, one single user would be able to get access to discounts although they are not ordering from Vape Shoreditch for the first time. However, overcoming this fraudulent process is relatively easy. Since one user does not have access to multiple devices, the company could make use of device specific promo codes. Doing so will greatly reduce the risk of being scammed by a single user as one device will be eligible for promo code only once. At the same time, if auser tries to use multiple promo codes from their device, Vape Shoreditch could block that consumer on grounds of fraud.Although there are potential risks of this strategy, Vape Shoreditch should make use of it because it has dual implications. It not only affects their consumer base but also acts a way of increasing their brand awareness. With good brand awareness, the company can make use of other marketing strategies as and when required.It should be mentioned here that although there are three different recommendations that have been provided, all of them are quite inclusive of each other. The company cannot include one without making use of the other. The recommendations are very dependent on the theory of communication, which states that there should be absolute transparency between the consumers and the company. At the same time, the company has to keep in mind to have high regards for the feedback that it receives from its consumers;most importantly, the negatives. By taking care of all such issues, the company can show that although they are a start-up, they are mature and have enough experience to handle such large consumer bases. ConclusionIn this assignment, the key focus was upon understanding how the business marketers, especially the start up businesses could build their strategies to grab consumers’ attention towards their business. In this context, the assignment has focused upon the psychological, social as well as environmental factors related to the consumer decision-making process regarding a product purchase. In this context, the assignment has focused upon the startup company ‘Vape Shoreditch’, which offers E-liquid and e-cigarette. The assignment has used the consumer psychology and consumer purchase behavior related models in order to demonstrate the recommendations provided for the company to develop their marketing strategies, with a purpose of grabbing customers by understanding their unique purchasing behavior and psychological aspects. The key recommendations provided for Vape Shoreditch have also been demonstrated with a justification for selecting for those strategies, which would ultimately improve the progress of the startup business. Therefore, from this assignment, the importance of analyzing the consumers’ behavior, consumers’ psychology and other aspects related to cognition, feeling and perceptions in the context of developing business-marketing strategies have been understood. Thus, from this assignment, Vape Shoreditch would gain significant guidance to develop their unique marketing strategies, which would help them to grab more customers and make them loyal to the business, thereby improving the business growth and development. In addition, the impact of external factors, i.e. environmental stimuli, on the development of purchase decisions, and their implementation by organizations like Vape Shoreditch have also been understood from the assignment.