Question: Part A Understanding Consumers Consumer decision-making processes can be complicated because there are many factors (internal and external) that influence this process. For example, there
Part A Understanding Consumers Consumer decision-making processes can be complicated because there are many factors (internal and external) that influence this process. For example, there are individual internal factors like personality and external factors including household structures, society and culture. Some decision making processes are linear and others are more emotional. For your report, you need to identify and explain how the concept of motivation affects consumers' likelihood of buying your product
Part B Segmentation
Define and describe the theoretical concept and purpose of segmentation. Identify and define the key segmentation variables (i.e. demographics, psychographic etc), be sure to present this information with market data evidence (i.e. tables/graphs/statistics from sources such as ABS/ Roy Morgan etc) ; and Using the different segmentation variables, describe a likely primary segment for your organisation and create your "Typical Consumer" profile (see template in i2)
Part C Targeting strategies
Define and describe the theoretical concept of targeting strategies; and Outline the most appropriate strategy for your product, given the competition and market analysis (from Assessment Two) and its likely segment described in your consumer profile
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