The aim of this assessment is to critically evaluate the consumer decision-making process and explore and report on the key factors that influence consumer behaviour and consumption of a product or service.
1. Attend the first tutorial, where the assessment and grading criteria for this assessment task 2 / report will be outlined by the lecturer.
2. Use credible, peer-reviewed sources of information (textbooks, academic journal articles, newspapers, marketing reports, data from Government bodies), with a minimum of five (5) references.
3. Ensure the report is structured using the headings and content described below:
- . Introduction: the purpose of the report, main data sources, limitations if any.
- Purchase Situation and Target Market Profile Useful Information: 2.1 Product Service and consumer decision making Description of product/service and analysis of the type of consumption or purchase situation, i.e., low, medium, or high involvement, nature of risk – social, financial, etc. For instance, medium-high involvement purchases require more information, careful consideration of the purchase by the consumer and more complex decision-making. 2.2 Target Market Profile, i.e., demographic, behavioural and psychographic variables.
- Factors influencing the Consumer Decision Making Process 3.1. Factor influencing consumer behaviour A rational model of consumer behaviour is outlined in lectures and in the textbook. Internal and external factors that can influence each stage of the process are diverse and will vary by product, target market and by an individual. Marketers are interested in how these factors influence the consumer decision process, as this knowledge provides insight into how the marketing mix elements are developed, and modified, over the life of the product. In the report, you will analyse one (1) factor that influences consumer behaviour and the consumer decision-making process. You will be required to explore the ramifications of your research for marketing practice/strategy.
- Conclusions and recommendations 4.1. Conclusions Draw together for the reader the main findings from the report. The conclusions should be briefly stated and remember, new information should not be introduced into this section. 4.2. Recommendation. Provide, and fully justify, one (1) creative recommendation on how the client/brand owner might utilise this information in developing, or modifying, current marketing strategy.
- References: use the APA (American Psychological Association) style of referencing. A minimum of five (5) academic references is required. Only work cited in the text should be included in the reference list. Personal communication should be cited, but should not be included in the list of references. Do not use Wikipedia. Report formatting: Use 1.5 line spacing, justified text, margins: 2.5 cm; typeface: any type, 10-12 size, and number pages in the report. • Check for any spelling, grammar and punctuation errors. choose from: -smart tv -smartwatch(latest release) -Camera -laptop for uni purpose -car – with some specification such as family car or hybrid -solar house panel -rainwater tank -home security -white goods- fridge/freezer unit -kitchen items- oven /coffee machine -designer clothes and accessories -air conditioner -pet animal for a family -services – leisure and entertainment /tourism/holidays/gym/ weight loss and etc. Get Marketing homework help