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Consumer Behavior Report Assignment

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Added on  2020-05-28

Consumer Behavior Report Assignment

   Added on 2020-05-28

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Running head: CONSUMER BEHAVIOR REPORTConsumer Behavior ReportName of the studentName of the UniversityAuthor Note
Consumer Behavior Report Assignment_1
1CONSUMER BEHAVIOR REPORTTable of Contents1. Introduction............................................................................................................................22. Purchase Situation and Target Market Profile.......................................................................22.1 Description of product and analysis of the purchase.......................................................22.2 Target Market Profile.......................................................................................................33. Factors influencing consumer decision making process........................................................44. Conclusion..............................................................................................................................55. Recommendation....................................................................................................................56. References..............................................................................................................................67. Appendices.............................................................................................................................7
Consumer Behavior Report Assignment_2
2CONSUMER BEHAVIOR REPORT1. IntroductionThis report aims to analyze and understand the various internal and external factorsthat affect the behavioral pattern of the consumers and the impact it has on thesales/consumption process. In order to understand the consumer behavior process a surveywas conducted on a sample size of 20 people which consists of both retail and onlineconsumers. The questionnaire consisted of 10 questions, which the individuals answeredanonymously. 2. Purchase Situation and Target Market Profile2.1 Description of product and analysis of the purchaseThe product is Yamaha Cygnus and priced at an approximate value of $5000. It hasthe presence of a high involvement purchase decision. The risk factor is high for theconsumer in case the product fails to meet the expectations or does not function properly.Low involvement purchase decisions are usually present when purchased on a frequent basis(Muruganantham & Bhakat, 2013). However, in case of Yamaha Cygnus, the purchase doesnot occur based on impulse and the consumers analyze and compare the product tounderstand the features and pricing.The various stages that are involved in the purchase of the Yamaha Cygnus are asfollows:-Need Recognition- In case of the Yamaha Cygnus, the company may promote it tothe consumers stating that it has additional features than other two wheelers in thegiven price range, provides a better mileage and also emphasizes on the safety andcomfort of the consumers (Miragaia & Ferreira, 2016). Product Evaluation- The automobile market comprises of numerous two wheelersand it is difficult to choose from them. After the initial search of information, in thisstage, the consumer evaluates the product on the basis of its appearance, size, colorsand other factors. Product Choice and Purchase- It is in this stage that the consumer purchases theproduct. The purchase may depend on factors like credit facilities and extendedwarranty offered by different outlets.
Consumer Behavior Report Assignment_3

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