MKTG320 Consumer Behavior assignment sample UAE
Management course analyses the concepts, and consumer behavior models influencing the decision-making process. Learners identify the effect of environmental and physiological factors in the decision-making process. apart from discussing managerial implications for executing the planning, and marketing strategies. It lists the social and physiological factors that affect purchasing decisions.
It includes theories for establishing managerial frameworks. It helps to improvise and launch new products. It deals with segmentation and management strategies.
Assignment solutions of MKTG320 Marketing Research assignment in UAE
Principles of Customer behavior get you acquainted with processes individuals to go through. Process one undergoes when deciding what to buy. A range of variables can influence the outcomes of purchasing alternatives.
The majority of the variables rely on purchasing decisions. For eg things you are purchasing and the purpose of purchasing.
No two individuals are alike. it is difficult to expect to what extent the factors will shape the ultimate decision.
advertisers need to understand elements that provide valuable insight into buyer’s perspectives. Get familiarized with factors that affect your target brand, category, product. You can use these variables for your profit.
How you communicate with the customers, the phrases you use matter. These things relate to the factors influencing buyer’s decisions.
Marketers use those realizations to win the hearts of clients.
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LO 1Discover the Importance of decision-making model
Decision-making models make the process effective and communicable for those who get involved. It includes all employees, stockholders, and supervisors. Decision-making processes serve purposes across organizations, departments, and industries. Decision-making comes in handy when purchasing new machinery. It helps to install changes that affect individuals.
LO 2 Outline the decision-making models influencing consumer behavior
Three types of decision-making models are as follows:
- Logical models. The logical decision-making model is popular among C-level executives. It is sequential and evolves around listing viable options as many as possible. as they get listed, choice get tested to determine which one is the best
The model also includes benefits and downsides for each alternative. It enlists the options based on their significance. A logical decision-making model includes the following steps:
- acknowledge the opportunity or problem.
- Build up and gauge choice measures.
- Collect and list down relevant information.
- assess the situation.
- Note down the list of alternatives.
- Check all alternatives.
- assign them values.
- Choose which alternative is the best.
- Execute the plan.
- Assess the plan.
- Instinctive models: Intuitive decision-making models rely on no reasons behind the purchasing process. But, it relies on intuition or inner feelings about the right alternative. Still, instinctive decision-making models solely rely on feelings. It relies on pattern recognition or identifies similarities and the prevalence or importance of the alternative.
Decision-making focused on recognition
This model is a mix of intuitive and logical decision-making processes. It recognizes that the manager considers one alternative as opposed to accessing each one of them.
The decision-making model includes the following steps:
- Recognizing the issue, including all the attributes, positivities, negatives, and core objectives.
- Developing the plans and a perfect simulation to verify whether it works or not.
- To access the changes required.
- If the option proves to be viable, come to conclusions.
- The plan gets executed.
This decision-making model considers an alternative if the original plan can’t deliver the expected outcomes. The success ratio of this model depends on the individual’s level of expertise and skill.
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LO 3 Identifying the Factors that Influence the Decision-Making process
- While the decision-making process appears normalized, no two individuals settle on a choice in the same manner. Perceptions and preferences vary from one person to the other. While some factors are controllable, some appear to be beyond control.
How the elements react with each other, demonstrates that each one of us has a unique purchasing behavior and perspective.
It is less likely for advertisers to respond to the individual profiles of each buyer. It is possible to identify factors that will likely impact the customers.
Demonstrating how determinants affect product purchasing behavior.
- Several factors affect consumer behavior. They have a complex nature. Men and women express their necessities and preferences related to personal-care items.
- Families with kids have a distinctive dining-out choice than married or single individuals. Customers with knowledge in product categories take different decisions with individuals without experience. As advertisers get a better understanding of these factors, they can draw clear inferences about buyer conduct.
We can classify these determinants into the following classes
- Situational Elements relate to the buyer’s level of involvement in product purchasing. It includes varieties products available in the market.
- Individual factors pertain to the buyer’s attribute. it includes characteristics like age, gender, financial stability, and personality.
- Psychological Variables relate to the learning process, socialization, beliefs, and motivation.
- Environmental Factors relate to social class, family background. Individual preferences matter when purchasing things.
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