consumer and marketing psychology – individual report
What am I required to do in this assignment?
Select a specific B2C product or service produced by a company and analyse this offering in terms of the consumer decision making process and the factors that influence this process.
Your analysis should include the following things:
1. Your report should suggest a typical chronological buying process for this product and discuss the likely internal psychological influences that may be linked to this process. These would include probable customer involvement levels and risk perceptions. You will be expected to argue your case logically and provide evidence where possible to support your ideas.
2. You should look at the external factors that may influence customers to purchase this product such as different types of reference groups and the wider range of socio-cultural influences such as class and culture
In order to do this you will then be asked to choose at least one internal model and at least one external model of consumer behaviour. Your models will help you to analyse the internal and external factors that may influence customers to purchase this product.
Internal Models could be: External Models could be:
Motivational Theory Social Class
Personality and the Self Theory Culture and Cultural Norms
Perceptual Theory Reference Group Theory
Communication models
3. Consider how the current marketing mix enables consumers to pass effortlessly through the buyer process from the need recognition stage through to information search, evaluation, purchase and post-purchase reflection. Highlight key areas of strength in the companys marketing mix strategies and weaker areas where you can make recommendations.
4. As you will be using a variety of theoretical constructs and frameworks from the module in order to undertake a successful evaluation, you should comment on the usefulness and limitations of the tools you are employing.
A) Knowledge and understanding
1. Demonstrate critical knowledge and understanding of cross-cultural and global dimensions in managerial, organisational, and larger market contexts.
2. Critically evaluate information to form a reflective understanding of contemporary theories and developments across the range of business practices as informed by the
Business, management and events field of study.
3. Understand why sociology, anthropology, economics and neuroscience from the scientific base on which consumer behaviour stands as an academic subject.
B) Skills
4. Demonstrate global awareness in terms of both cultural and business contexts.
6. Utilise creativity and lateral thinking to develop original or innovative and
entrepreneurial solutions.
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