Topic: Using Consumer Behavior Principles to Develop a Consumer Behavior Exploratory Research Survey (30% of the final grade) Background Consumer behavior research can be very expensive and time consuming. How do companies decide/justify spending money on research? Many large companies that regularly conduct research begin with a very small exploratory project that is often done with the expertise that is already staffed in the Marketing Department. Once this is done and if it’s found you need a national sample then, you can pitch the CFO for the money needed to go forward. You have been put in the position of conducting the exploratory research to find if you need to hire an expensive outside Consumer Behavior Research firm to take the research to the next level. You have been assigned a brand/product item for your first consumer behavior research project (brand assigned at random by Professor). Complete sections one and three based on secondary data collected through outside research. Section 1: Background A) Give some introductory information about your product/brand. Include the current status of the four P’s. Not needed is historic information (company beginnings, etc.). Only current data is needed here. B) Research and discuss the brands target market: demographics also include the geographics, psychographics and any behavior-based segmenting variables (label them by base) typical decision-making aspects (How would the target go through the Consumer Decision Process? Where in the Consumer Decision Process does there seem to be issues?) identify one market segment that you will discuss as a target market using segmenting variables discussed above. Section 2: Consumer Influences Identify and analyze three of the most relevant aspects of consumer influences and their effect on the sale/adoption of the brand/product item. Provide reasoning why you believe the influence is relevant. Examples of what might be included: Attitude Perception Learning/Memory/Consumer Information Processing Motivation Emotion Personality External Influences: family culture social class reference groups situation generation any other external influences. Section 3: Marketing Strategy Identify current issues that may need consumer behavior research. Outline at least FIVE questions (relating directly to Consumer Behavior internal and or external factors). Include both closed-ended and open-ended questioning. DO NOT question using marketing terms or concepts (ex. What are your perceptions of the brand?). Qualifying questions (demographic or otherwise) are not included in the five required but you can ask these to get the correct sample for your survey. Explain why each question needs to asked in terms of the Marketing Mix (4 P’s). State the question and then give the reasoning. Be sure to organize by paragraph.
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