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Credit Crunch and Financial Crisis effect on Consumer Buying Behaviour.

1. Introduction

1. Research Aim - The aim of the present research is to analyse and evaluate the impacts of the current financial crisis on consumer buying behaviour.
2. Research Question - The primary research question of the dissertation is: ‘What type of buying behaviour has been most significantly affected in the UK?&rsquo

2. LITERATURE REVIEW
The literature review would be constructed of secondary data. Secondary data, which would encompass academic and commercial sources, can be characterised as multiple source data. Multiple source data can be divided into area based and time series based data.

2.1 AREA BASED

2.1.1
Introduction to consumer buying behaviour
Factors affecting consumer buying behaviour
Buying behaviour: patterns, characteristics, segments 
Factors affecting planned and unplanned buying behaviour

2.2 TIME SERIES BASED

2.2.1 Commercial Topics

• Origin of the credit crunch
• Financial crisis impact on consumers
• Consumer buying behaviour in economic downturn

The topics of the commercial literature are chosen based on the contemporary information they would provide. 'Financial Crisis Impact on Consumers' and 'Market Segments Performance' would reveal how the crisis affects consumers' lifestyle, disposable income, brand loyalty, impulsive purchases, etc.

2.2.2 Commercial Sources

• Online newspapers and magazines
• Commercial and government reports

3. RESEARCH METHODOLOGY

3.1 Research Philosophy and Approach
The research of the present dissertation is influenced by the philosophy of ‘Interpretivism’. ‘Interpretivism’ is an appropriately employed philosophy as the aim of the project is not to provide law-like generalisations but to identify new research contexts. The researcher realises the complexity of the present topic and thus focuses on the application of an inductive approach to gradually reveal new analytical perspectives by employing critical interpretations of the findings.

3.2 Research Methods and Strategies
The present research would be conducted through the application of a multi-methods study, which would encompass primary and secondary data collection strategies. The researcher would apply an inductive approach to gradually structure the research findings and establish theoretical assumptions. Although the present research would be mainly constructed on grounded theory, it would also focus on primary data collection, such as in-depth interviews.

3.2.1

• In-depth interviews

4. FINDINGS
The present research would encompass the analysis of primary and secondary collected data. In this respect the two sections need to be distinctively separate as there would be a difference in the methods used for the purpose of their analysis. In the 'FINDINGS' section, the researcher would present the primary data, which was extracted from semi-structured in-depth interviews.

4.1 Primary Research (Qualitative Analysis)

• Analytical Induction
• Narrative Analysis

5. DISCUSSION / CONCLUSION
The importance of the present research is that it not only identifies the impact of the financial crisis on consumer buying behaviour, but analyses the specific changes in consumer buying patterns. In this respect, the present research provides new contextual perspectives, which can be used by UK organisations as valuable sources for approaching adequate marketing efficiency and brand management. Moreover, the proposed research has a significant academic value, as by exploring the effects of the current financial crisis it challenges a number of well-established academic constructs and thus stimulates further academic interest in changes of consumer behaviour under the conditions of an economic downturn.

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