Buyer and Consumer Behaviours

In: Other Topics

Submitted By natalie2503
Words 2126
Pages 9
TUTORIAL ASSESSMENT
You will be assessed in two different ways via tutorials throughout the study period.

Part A – Tutorial Answers
Each week, starting from Week 2, you will be required to complete answers to a series of tutorial questions. These are to be completed prior to the tutorial with further discussion from students and tutors provided in the tutorials. On three randomly selected weeks, you will need to hand up your answers to your tutor in the tutorial for marking. Each of these three submissions is worth 4% of your final grade. The randomly selected weeks will vary for each tutorial.

The tutorial questions for each week are as follows:

Week 2:
Questions to prepare at home: 1) Why is it more useful to research the ‘who, what, when’ of buying rather than the ‘why’? 2) You have recently been appointed as the Marketing Assistant for Nescafe, a large coffee manufacturer. The Marketing Director (your boss) has asked you to look over a data set for instant coffee purchases and provide a series of calculations (for the brand performance measures provided below). However, some members of your marketing team are not familiar with the following measures. Briefly explain each of the measures. Why is it important to have an understanding of these in marketing? a. Penetration b. Average Purchase Frequency c. Share of Category Requirements

d. Category Buying Rate e. Sole Loyalty

Exercises to complete in class: a. How are each of these measures calculated? Provide a formula.

Week 3:
Questions to prepare at home: 1) What are the three models of consumer decision making (also known as the paradigms of purchase)? Explain each of the models giving purchasing examples. Which model is used for most purchases and why? 2) What is an empirical generalisation? What are the key elements of an empirical generalisation?

Exercises to complete in class: a. Data…...

Similar Documents

Buyer Behaviour

...understand well of the needs of Upland’s customers. Role Play 2 1. Dialogue Bonnie: Good Morning Ms Reed. Thank you for taking your time out for me. Rhonda: No problem at all. Have a seat. Bonnie: With regards to the presentation I will be doing ay Stellar College, I have decided to focus on the viability of relationship selling and to reach an understanding on how sales people are in the real world. Rhonda: Yes, that will be a good head start. However, it will be feasible as well to throw in the benefits of how our industry works so as to entice them as well as demolish the stereotypical views. Bonnie: You mean being for sales people to be focused on only the transactional part of the selling career, exploiting the buyers and also aggressively persuading and pestering the clients? Rhonda: Yes, to think that you are able to say it right off the bat proves that there are standard negativity towards sales people in their job. You need to convince them of the benefits we have in this challenging working environment. Bonnie: How would you propose I’d do that? Rhonda: In order to be able to convince, you have to treat all the students as our company’s prospective clients. Enable yourself to build a relationship with them and walk them through the thought process of being a sales person and what in brings to you. How would you think being in this career has helped you? Bonnie : Well, for starters, it has allowed me to have more control of my......

Words: 7826 - Pages: 32

Buyers and Consumers

...Describe the organizational buyers and consumers of the product or service. The organization that our product is is meant for would be the medical profession. Medicine has many areas of improvement and our portable computer will help with all the aspects of these improvements. The doctors that will be using our portable computer will be able to look up charts, direct connection to hospitals, emergency rooms, the patient’s other doctor’s, medical suppliers, and pharmacy. The organization will be the main contact for the consumers which are the Doctors and nurses of many different styles of hospitals. Our product will allow all medical professionals achieve an improvement in the work load each shift. In a medical field when time is of the utmost importance, these portable computers will help the doctors take efficiency to the next level. Being able to view a chart without leaving the side of the patient, while also using the portable computer to see x-rays of this patient. These are problems that a lot of facilities are struggling with. These doctors and nurses will go thru a training to learn about the new portable computer, services of the computer and how to make their work life easier. The training will be a 2 week training on the grounds of the facility and will take place every day. With the purchase of our product we will have a tech team on stand by for any troubleshooting needs. The buyers and consumers of our product will have the best product for their job......

Words: 278 - Pages: 2

Buyer Behaviour

...Abstract Although businesses are formed to fulfill various needs in the market, the ultimate goal is to make a profit (Porter, 1985, 12). To realize the profits that the company may be targeting, sales have to occur. The transfer of the goods or services from the manufacturer or distributor to the consumer is referred to as a sale. It is in this regard that companies world over have set aside huge budgets for the marketing and sales divisions. The concept of marketing has evolved from being a simple process to a complex system that involves many stakeholders. However, at the end of the day, the concept remains the same. This is because it is a process that seeks to attract customers and retain them. It also seeks to deliver the products as and when required by the market. This study seeks to establish how several factors affect the ideals of marketing. One of them is the consumer motivation followed by the market perceptions of a given product. Emotional drivers also play a significant role in the determination of a given marketing campaign. The study will look at the sport clothing market and will seek to analyze it along the factors mentioned above. Introduction The increased emphasis on physical fitness from many quarters has led to a significant uptake of sports and games by people from all walks of life. Traditionally, sports used to be viewed as activities reserved for a few. However, there has been a major shift where sports are being taken up for both......

Words: 3203 - Pages: 13

Red Bull Consumer Buyer Behaviour

...Red Bull was the first pioneering brand in the energy drinks market. ‘Being the first gives a brand the opportunity to create a clear position in the minds of target consumers before the competition enters the market’ (Jobber page 317) The augmented model illustrates how Red Bull built a counter-culture brand which attracted its target consumers: At the heart of Red Bull was the core product: An alcohol free carbonated energy drink containing the same amount of caffeine found in one cup of coffee. The initial marketing results illustrated that 50% of the test group thought the taste was ‘terrible’ whilst the other 50% ‘was crazy about Red Bull.’ This conflicting consumer outcome enhances the controversy of the product hence drawing attention from consumers to try the product and see which group they are in. Augmented product known as the brand which constitutes the brand image, quality, design, packaging etc. Red Bull created a differential advantage by augmenting its brand through its image and design. The image was based on exclusivity, creativity, euphoria and unconformity. These image attributes increased the brand awareness and its popularity amongst the ‘Generation Y-ers (18-29 year olds) who were heavily into pop culture and extreme sports and saw Red Bull as an ‘anti-brand’. Aligning with the brand image was the brand design a logo with ‘two thing necked crimson bulls in opposing charge’ and established slogan ‘Red Bull gives you wings’ which reinforces its...

Words: 288 - Pages: 2

Consumer Behaviour

...Jeff Bray Consumer Behaviour Theory: Approaches and Models Consumer Behaviour Theory: Approaches and Models...............................................2  1.1 Consumer behaviour & consumer decision making ............................................2  1.2 Theoretical approaches to the study of consumer behaviour..............................3  1.3 Economic Man .....................................................................................................4  1.4 Psychodynamic Approach ...................................................................................4  1.5 Behaviourist Approach ........................................................................................5  1.6 Cognitive Approach .............................................................................................6  1.6.1 Cognitive Models of Consumer Behaviour ..................................................9  1.6.1.1 Analytic Cognitive Models ..................................................................10  1.6.1.2. Prescriptive Cognitive Models............................................................20  1.7 Humanistic Approach ........................................................................................25  1.7.1 Humanistic Models of Consumer Behaviour..............................................25  1.9 Summary ............................................................................................................28  References..............................

Words: 10006 - Pages: 41

Consumer Behaviour

...CONSUMER BEHAVIOUR • It is the study of how people buy, what they buy, when they buy and why they buy. • It attempts to understand the buyer decision processes/buyer decision making process, both individually and in groups. • It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. • The theory of consumer behavior in managerial economics depends on a) Budget • constrained by income and the price of the goods, • The budget constraint specifies the combination of goods the consumer can afford to buy. b) Preferences • Economists use the concept of utility to describe preferences. • There are some assumptions of consumer behavior theory like :- a) rational behavior b) clear cut preferences • Consumer behaviour can be explained using two main approaches: 1. Marginal Utility Theory (The Cardinalist Approach); and 2. Indifference curve Analysis (The Ordinalist Approach) 1. MARGINAL UTILITY THEORY (THE CARDINALIST APPROACH) • developed by Alfred Marshall who introduced an imaginary unit called the util as a means of measuring utility. • 1 util = 1 unit of money. • Utility is additive. • This approach was termed cardinal since cardinal numbers could be used to measure utility. • Each consumer chooses quantity demanded of all goods and services in order to maximize his/her utility or want satisfying power, given the limits imposed by available income. • The concept of......

Words: 439 - Pages: 2

Consumer Behaviour

...Research Report Consumer Behaviour Naveed Mohammed 300765975 Prof. James Quance Business Communications 2 BUSN 733 13 Nov ‘13 ------------------------------------------------- Executive Summary This report discusses consumer behaviour in detail. Consumer behaviour refers to the buying behaviour of individuals and households that buy goods and services for personal consumption. All of these final consumers combine to make up the consumer market. Consumers around the world vary tremendously in age, income, education level and tastes. They also buy an incredible variety of goods and services making both simple and complex purchase decisions every day. The Cultural, Social, Personal and Psychological factors that affect consumer behaviour are discussed in detail. The consumer decision process which consists of Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision and Post Purchase Behaviour are then studied. A Consumer Analysis follows where questions like “Who buys and uses the product?”, “What consumers buy and how they use it?” and “Why consumers prefer a product?” are answered. A brief conclusion wraps up the report which states how Marketers study consumer behaviour to find answer to most questions that help them design marketing strategies to reach consumers more effectively and build long lasting relationships. Table of Contents Introduction | | 1 | Factors influencing Consumer Behaviour | | 1 | |......

Words: 2342 - Pages: 10

Buyers Behaviour

...States and South Korea Taejun (David) lee Bradley University Yongjun Sung and Sejung Marina Choi University of Texas at Austin This research examines young adults’ attitudes towards product placement in films and television shows from two countries that represent contrasting cultural distinctions: the US and Korea. The results suggest that young adults in both countries perceive film product placement in a similar way but, with respect to television, Korean respondents tend to perceive it as less effective in enhancing content realism and more unethical and misleading. In addition, the findings suggest that, for both film and TV, material- ism, attitude towards advertising, and realism enhancement appeared to be significant predictors of consumer cognitive response to product placement. However, cross-cultural differences were observed for TV product placement. In the US, materialism and real- ism enhancement were found to be most powerful predictors of cognitive response to product placement. In contrast, attitude towards advertising and materialism were found to be the strongest predictors in Korea. Implications for both advertising researchers and practitioners are provided. Introduction Movies have almost always been a popular medium for product placement. Product placement in movies can be an effective international marketing strategy since movies are often produced for and play to audiences across cultures (McKechnie & Zhou 2003). Television has followed this......

Words: 10824 - Pages: 44

Buyer Behaviour

...MKT 2240- BUYER BEHAVIOUR THE BEHAVIOUR OF THE YOUNG TOWARDS LUXURY PRODUCTS WORD COUNT 1709 Submitted on: 2nd Sept 2013 Module Coordinator: John Sutton Content Introduction 3 *Luxury Background 3 *Today’s Youth 4 Consumer Behaviour 4 Self Concept Theory 4 The ‘A B C’ Attitude model 6 Conclusion 8 References List 9 Introduction "Luxury is a necessity where necessity ends." Coco Chanel The main purpose of this research is to find out what creates a spark in the youth of today when it comes to buying luxury products. For some it may be status and recognition for the others it may be comfort and quality, it may vary from people to people due to their personality.......

Words: 1891 - Pages: 8

Consumer Behaviour

...In: Miscellaneous Consumer Behaviour CONSUMER BEHAVIOUR • It is the study of how people buy, what they buy, when they buy and why they buy. • It attempts to understand the buyer decision processes/buyer decision making process, both individually and in groups. • It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. • The theory of consumer behavior in managerial economics depends on a) Budget • constrained by income and the price of the goods, • The budget constraint specifies the combination of goods the consumer can afford to buy. b) Preferences • Economists use the concept of utility to describe preferences. • There are some assumptions of consumer behavior theory like :- a) rational behavior b) clear cut preferences • Consumer behaviour can be explained using two main approaches: 1. Marginal Utility Theory (The Cardinalist Approach); and 2. Indifference curve Analysis (The Ordinalist Approach) 1. MARGINAL UTILITY THEORY (THE CARDINALIST APPROACH) • developed by Alfred Marshall who introduced an imaginary unit called the util as a means of measuring utility. • 1 util = 1 unit of money. • Utility is additive. • This approach was termed cardinal since cardinal numbers could be used to measure utility. • Each consumer chooses quantity demanded of all goods and services in order to maximize his/her utility or want satisfying power, given the limits imposed by available income...

Words: 306 - Pages: 2

Buyer Behaviour

...Vietnam Bachelor of Commerce Program Assignment Cover Page Your assessment will not be accepted unless all fields below are completed Subject Code: Subject Name: MKTG1253 Buyer Behaviour Location & Campus (SGS or HN) RMIT Vietnam SGS Title of Assignment: Product Analysis Student name: Nguyen Thi Thuy Huong Ta Trung Kien Huynh Bich Tram Truong Bao Tram Le Nguyen Hong Van Student Number: S3311318 S3259028 S3298222 S3298834 s3210260 Learning Facilitator in charge: Mr Mattia Miani Assignment due date: 22nd August 2011 Date of Submission: 22nd August 2011 Page numbers including this one: 32 Word Count: 3,048 (Main Content) iii Marked by Mr Mattia Semester 2, 2011 iv v Executive Summary As being aimed to demonstrate better understanding of buyer behaviour concepts and improve critical thinking by examining a real case of business, this report is written regarding a new brand in food and beverage market in Vietnam: BreadTalk bakery from Singapore. Through a brief overview of the company and Vietnamese market’s dimensions, the variety of used stimulus is presented with captured screenshots and pictures from both the origin country and Vietnam’s BreadTalk bakeries. The report afterward discusses the internal influences and culture values that are imperative affections of consumer behaviour, before gives some recommendations at the end. In the introduction, BreadTalk’s company overview, main competitors in Vietnam market and the positioning map, in which......

Words: 4228 - Pages: 17

Buyer Behaviour and Market Research

...Unit 17: Marketing Intelligence Buyer Behaviour and Market Research Techniques This assignment is going to be looking at understanding buyer behaviour and the purchase decision making process. It will cover describing the main stages of the process, along with explaining theories of buyer behaviour and factors that may affect this. Finally it will evaluate the relationship between brand loyalties, corporate image and repeat purchasing. Being able to use marketing research techniques will also be included within this essay; evaluating different types of market research, using sources of secondary data to achieve marketing research objectives and assessing the validity and reliability of these findings. All of the above topics will conclude with a proposal of a market research plan to obtain information in any given situation. LO1: Buyer Behaviour Figure 1.1a: http://www.enotesmba.com/2014/06/marketing-notes-consumer-decision-making-process.html (Accessed: 23rd Nov 15) Figure 1.1a: http://www.enotesmba.com/2014/06/marketing-notes-consumer-decision-making-process.html (Accessed: 23rd Nov 15) Engel, Blackwell and Kollat (1968) developed a model of the consumer buying, decision making process in five steps (see figure 1.1a): Problem or need recognition, information search, evaluation of alternatives to meet this need, purchase decision and post-purchase behaviour. They believed that these five stages displayed what led a shopper to purchase a new product......

Words: 6838 - Pages: 28

Consumer Behaviour

...MARKET SEGMENTATION THE ACCESSORIES MARKET FOR MEN MKW 2402 CONSUMER BEHAVIOUR Chrismal Perera 24855871 Thisura Goonawardena 25633872 Pratul Venglet 24943436 Keshav Ramkhelawon 23549785 Srijan Menon 25058568 EXECUTIVE SUMMARY This report critically analyses the internal influences on consumer’s behavior and their buying decisions. The influences described are Personality and Self Image, Motivation and Involvement. These Influences are understood to create a Marketing Strategy for the launching of the New Classic Watch we have chosen. A few potential target markets were analysed, such as Fashion Watch Buyers, Sports Watch Buyers and finally the buyers of Classic Watches. We chose to target Classic Watches as we better understood the internal influences affecting this group and could come up with a strong strategy to successfully target this market and earn a potential return. The need for Self Esteem is a major influence for buyers of Classic Watches. Their professions or social groups demand sophistication and splendor, the individual within these groups have high self esteem and feed their image with products such as classic collectible watches. The level of involvement may be very high because of the huge price tag that accompanies the product. We have recommended to premium price the product to reflect its superior craftsmanship and the expensive material used, it also reflects the majesty and the elegance of the superior classic watch. The watch...

Words: 3146 - Pages: 13

Buyer and Consumer

...the category, in many ways, is a competitor to Smith’s as they are all competing against one another to increase their ‘brand size’. When it comes to brand salience, Smith’s is well above average in comparison to the rest of the market, as shown through its size and loyalty measures. Through continuing to build brand salience, Smith’s customer base continues to increase, and remain a superior brand for its category through an even larger rise in new customer purchases due to salience. These future expectations can be made through effective advertising movements that generate extensive mental cues that can be memorized by the consumers who enjoy shopping in the chips market. The consumer profiles within the chip market are quite similar, so mass-marketing techniques that reach the buyers of these brands is an extremely efficient way of targeting new buyers as brand level segmentation is not present in this market....

Words: 320 - Pages: 2

Consumer Behaviour

...q Consumer Behaviour 1 q 1 Consumer Behaviour Customer is profit, all else is overload.... x This chapter provides an introduction to consumer behaviour. “Consumer is the most important person. The business revolves around the consumer.” After finishing this chapter one should be able to understand: q What is meant by consumer behaviour q Consumer decision-making process q Marketing strategy and consumer behaviour q Indian consumer and his characteristics x INTRODUCTION All of us are consumers. We consume things of daily use, we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, speciality goods or, industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs values, motivation, personality, social class and many other factors that are both internal and external to us. While buying, we also consider whether to buy or not to buy and, from which source or seller to buy. In some societies there is a lot of affluence and, these societies can afford to buy in greater quantities and at shorter intervals. In poor societies, the consumer can barely meet his barest needs. The marketers therefore tries to understand the needs of different consumers and having understood his different behaviours which......

Words: 3230 - Pages: 13