Learning Outcomes Of Consumer Behavior And Environment

Learning Outcomesmodel Of Consumer Behavior Environmental Factorsst

Refer to the product or service you selected at the beginning of the semester. This week, you want to take a closer look at what consumer factors may be relevant for customers who are considering buying your product or service offering. This will require some critical thinking on your part based on your own behavior if you are a customer yourself, or you may want to talk to others who have purchased the product. Sometimes you can find clues when looking at the marketing messages that may be addressing some of these factors. Prepare your assignment beginning with a cover page with your name and the product or service. Then answer the following four questions in order and number the beginning of your response to each question.

Paper For Above instruction

1. Consumer Behavior Model: Environmental factors. Refer to this week's readings and the model of consumer behavior and identify two of the most important environmental factors you think are relevant to the customers of your product or service offering. Explain your choices.

2. Consumer Behavior Model : Consumer factors. Refer to this week's readings and the model of consumer behavior and identify the three most important consumer factors you think are relevant to the customers of your product or service offering. Explain your choices.

3. Role of involvement in consumer decision-making. Identify the level of involvement a customer of your product or service might use to make a purchase/no purchase decision. Then, discuss which type of buying behavior is most consistent with that level of involvement.

4. Consumer decision-making process. Go through the six steps of the purchase process outlined in the readings and identify where marketing can influence each of the six steps. Be specific with respect to your product or service.

Part 2 - Market Segmentation, Targeting, and Positioning

Using the segmentation characteristics to identify and describe market segments, identify at least two market segments for your product or service. Each segment should include at least three characteristics from the segmentation bases. Select one segment as the target market and explain why it offers growth potential. Determine whether to focus resources on this segment through concentrated marketing, pursue multiple segments via multi-segment marketing, or narrow down further through niche marketing.

Develop a perceptual map based on two criteria important to your target market. Map at least two competitors and analyze their positioning. Discuss whether your product should reposition itself to find uncontested space or compete directly.

References

  • American Marketing Association. (2017). Definition of Marketing. Retrieved from https://www.ama.org
  • Howard, J. A., & Sheth, J. N. (1969). The Theory of Buyer Behavior. Journal of Marketing, 33(4), 1–17.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Solomon, M. R. (2018). Consumer Behavior: Buying, Having, and Being. Pearson.
  • Smith, W. R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1), 3–8.
  • Schiffman, L. G., & Kanuk, L. L. (2010). Consumer Behavior. Pearson.
  • Weinstein, A. (2014). Market Segmentation: Using Demographics, Psychographics and Behavioral Data. Journal of Marketing Analytics, 2(3), 113–125.
  • Day, G. S. (1981). The Capabilities of Market-Driven Organizations. Journal of Marketing, 45(4), 37–52.
  • Ries, A., & Trout, J. (1981). Positioning: The Battle for Your Mind. McGraw-Hill.
  • Hoyer, W. D., & MacInnis, D. J. (2016). Consumer Behavior. Cengage Learning.

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