Assignment on Consumer Behavior

Added on - 21 Apr 2020

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Running head: CONSUMER BEHAVIORConsumer BehaviorName of the Student:Name of the University:Author note:
2CONSUMER BEHAVIORTable of ContentsIntroduction................................................................................................................................3Discussion..................................................................................................................................4Situation Analysis of the Company........................................................................................4Target Market Description.....................................................................................................6Target Market decision making process................................................................................7Social Influences on buying behavior....................................................................................9Psychological Influences on buying behavior......................................................................10Personal Factors influences on buying behavior..................................................................11Marketing strategy recommendations..................................................................................13Conclusion................................................................................................................................13References................................................................................................................................14
3CONSUMER BEHAVIORIntroductionConsumer behavior refers to the study of the individuals, organizations, groups andactivities which are associated with the use, disposal and purchase of services and goods. Italso includes the emotional, behavioral and mental responses of the consumers which followthe above activities. In the 1950s the marketing area, introduced this concept of consumerbehavior. It is basically regarded as an inter-disciplinary social science, which blends withseveral elements from marketing, economics, social anthropology, sociology, psychology andethnography. It examines critically how the emotions, preferences and attitude of theconsumers affect their buying behavior (Solomon, 2014).The report throws light on the development of the consumer behavior of a medium tohigh involvement brand and the key consumer behavioral issues faced by the company. Thecharacteristics of the individuals like personality, lifestyles, behavioral variables, willingnessof providing referrals, demographics and others are all formally investigated for studying theconsumer behavior. Moreover, the study also investigates how the consumers are influencedby their family, relatives, friends as well as the society in general (Goh, Heng & Lin, 2013).The report highlights the company with a situational analysis, target marketdescription, decision making process of the individuals, social influences on the buyingbehavior of the consumers, psychological and personal factors which influences theconsumers’ buying behavior. In addition to this, it consists of the marketing strategyrecommendations. Furthermore, it includes PEST and SWOT analysis, in order to give a clearview of the topic.
4CONSUMER BEHAVIORDiscussionSituation Analysis of the CompanyThe company which is selected for this report is Singapore TelecommunicationsLimited, which is often abbreviated as Singtel. It is one of the largest operators of mobilenetworks in Singapore. It has over four million subscribers and via subsidiaries, the companyhas a subscriber base of over six hundred million customers till 2017 (Singtel.com. 2017).Previously, the organization was referred as Telecommunications Equipment. The mission ofthe company is to break the barriers and build bonds. They believe that technology can helpbusinesses and people communicate effortlessly and make this world a better place. Thenetwork helps in making communication faster, easier and reliable for the customers anddelivering value to the stakeholders at the same time. Their vision is to be the besttelecommunications company in the Asian region (Sparks, Perkins & Buckley, 2013).The company, since the past decades, has been successfully providing its customerswith highly efficient telecommunication services. Their goal is to create a sustainable andlong term growth, in order to deliver best returns to the shareholders as well as a positiveimpact to the stakeholders. They stress on the quality factor and serve their customer the bestof services. The company is considered to be the biggest telecommunications company atSingapore. Their biggest competitors are Telstra Corporation Limited, HutchisonTelecommunications and Vodafone Group Public Limited Company (Paul & Rana, 2012).The company’s overall evaluation is presented here in this report through SWOT and PESTanalysis;SWOT analysisSTRENGTHSThe company has strong cash flow.They are ranked sixth amongWEAKNESSESThe company lacks feasibility in theuniversal set top box.
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