Understanding consumer behavior is essential for all businesses regardless of th
Understanding consumer behavior is essential for all businesses regardless of their size or industry. In this course you learned how consumer behavior forms the foundation for a wide range of activities in business from product and service development, to marketing and sales, and customer service. Businesses need to understand how consumers make decisions, develop perceptions of companies, evaluate prices, and companies. You also learned how the study of consumer behavior integrates concepts from various disciplines including research, psychology, and economics. In this assignment you will apply what you have learned by analyzing a consumer product or service in a 2500-3000 word paper.
In this analysis you should identify a consumer product or service that is commonly marketed to some segment of the general public. As the starting point in your analysis you should identify the primary target consumer for what you have selected. With that target in mind, research the product or service and analyze it from the perspective of consumer behavior. In your paper address all of the following:
Explain the most relevant primary decision-making forces that influence buyers for the selected product or service
Analyze the decision-making and buying process for the specific product or service
Identify the relevant microeconomic factors affecting consumer behaviors for the product or service
Explain the influence of heuristics and experiential consumption on consumers of the product or service
Connect the key consumer behavior theories that marketers are leveraging to sell the product or service, and
Evaluate the most appropriate methods for developing consumer behavior information for the particular product or service
Formatting & Sources
Please write your paper in the APA format. As part of your research, you may refer to the course material for supporting evidence, but you must also use at least three credible, outside sources and cite them using APA format as well. Please include a mix of both primary and secondary sources, with at least one source from a scholarly peer-reviewed journal.
Primary sources are first-hand accounts such as interviews, advertisements, speeches, company documents, statements, and press releases published by the company in question.
Secondary sources come from peer-reviewed scholarly journals, such as the Journal of Management. You may use like JSTOR, Google Scholar, and Social Science Research Network to find articles from these journals. Secondary sources may also come from reputable websites with .gov, .edu, or .org in the domain. (Wikipedia is not a reputable source, though the sources listed in Wikipedia articles may be acceptable.)
Your paper will be graded based on the following rubric:
Category Unacceptable (0-2) Needs Improvement (3-6) Good (7-8) Excellent (9-10) Total Possible Points
Primary Decision-Making Forces (x1) Does not explain relevant primary decision-making forces Explains a few forces but with insufficient detail or relevance Most of the primary relevant forces are explained and connected with decision-making Clearly explains all primary relevant decision-making forces and connects them to their influence with buyers 10
Decision-Making & Buying Process (x2) Does not analyze the decision-making or buying process Analyzes the decision-making or the buying process, but not both Analyzes both the decision-making and buying process with limited connection to the product or service Fully analyzes both the decision-making and buying process with clear connections to the product or service 20
Microeconomic Factors (x1) Does not identify any relevant microeconomic factors Identifies some relevant microeconomic factors but does not connect them to consumer behaviors Identifies relevant microeconomic factors with some connections made to consumer behavior Identifies relevant microeconomic factors and clearly connects them to specific aspects of consumer behavior 10
Heuristics and Experiential Consumption (x2) Does not explain the influence of heuristics or experiential consumption Explains the influence of heuristics or experiential connection but not both Explains how heuristics and experiential consumption influence consumers but supporting rationale is limited Fully explains the influence of heuristics and experiential consumption on consumers and supports explanations with specific examples 20
Consumer Behavior Theories (x2) Does not connect consumer behavior theories to the marketing of the product or service Makes a basic connection between consumer behavior theories and the marketing of the product or service Clearly connects consumer behavior theories with the marketing of the product or service illustrated with some examples Fully connects consumer behavior theories with the marketing of the product or service and provides specific examples and detailed rationale for the connection 20
Information Development (x1) Does not evaluate any information development methods Evaluates an information development method but does not provide a rationale Evaluates more than one method for development of information but rationale is limited Fully evaluates multiple methods for information development with each clearly supported 10
Mechanics (x1) Submission has major errors related to citations, grammar, spelling, syntax; organization confuses the reader and interferes with the communication of ideas Submission has a number of errors related to citations, grammar, spelling, syntax; organization negatively impacts readability and interferes with the communication of ideas Submission has a limited number of errors related to citations, grammar, spelling, syntax; opportunities exist to further improve organization to improve readability and the communication of ideas. Submission has few or no errors related to citations, grammar, spelling, syntax; organization enhances readability and the clear communication of ideas 10