Marketing – Purchase Decision & Consumer Behaviour
– Business report
Arial or similar font
? 11 point
? 1.5 line spacing
? Pages numbered (bottom right)
? Headings and sub-headings
? Dot points, tables, diagrams and graphs where appropriate
? Full bibliography
– The overall purpose of Assignment One is have you grasp the challenges of understanding the consumer and how an understanding of consumers is a key input into the development of an effective (the right type) and efficient (minimal or no waste) marketing mix strategy.
In Assignment One you will track and detail every purchase you make in a week, purchasing data start no later than Week 2 (31st July 2013), and note what occurred in the decision making process (DMP) and the influences on the DMP for every purchase decision. These purchases need to be recorded in a matrix—either using Excel or Word. At the same time you will nominate a product (ideally a high-involvement product) that you are likely to purchase in the near future or one that you recently purchased.
With the support of marketing theory and consumer behaviour theory you will analyse your own purchasing behaviour (based on the data in the matrix). To do so, it will be important that you begin by describing yourself as a consumer. For example, ‘the consumer is a 25 year old male who has been married for 2 years, has a wife who also works part-time in health services, has no children, is in full-time employment as a professional manager, favours branded products—particularly for high tech products—rarely goes grocery shopping and prefers to search and buy online for as many products as possible’. Note—this description is only an example—there may be other relevant aspects you could describe as well.
Further, you need to detail how and in what ways marketing and consumer behaviour theories, and perhaps even the purchases recorded in the matrix, influence (or influenced) your decision making process for you nominated product.
The objective of the assignment is to come to a set of insights regarding consumer behaviour that would be a benefit to a marketer.
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