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Science of Consumer Behavior Assignment

   

Added on  2021-06-16

11 Pages2487 Words34 Views
RUNNING HEAD: SCIENCE OF CONSUMER BEHAVIORScience of Consumer BehaviorStudent NameRoll Number
Science of Consumer Behavior Assignment_1
Science of Consumer Behavior2ContentsExecutive Summary....................................................................................................................................31.Introduction.........................................................................................................................................42.Analysis of chosen respondents behavior based on personality theories...........................................42.1 Why their rankings of evaluative criteria are different......................................................................52.2Why their choices of the laptop are different?..................................................................................63.Analysis of chosen respondents behavior based on demographic theories........................................63.1 Why their rankings of evaluative criteria are different......................................................................73.2Why their choices of the laptop are different....................................................................................84.Recommendations...............................................................................................................................84.1 Characteristics of the likeliest consumers..........................................................................................84.2How to attract the customers by learning and memory theories......................................................95.Conclusion...........................................................................................................................................9References.................................................................................................................................................10
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Science of Consumer Behavior3Executive SummaryThe report is a detailed account of consumer behavior. A study of the different aspects that go into the purchase of a laptop, which is a major purchasing decision for many individuals has been done here extensively.The analysis has been done on three people, based on a series of questions that had been prepared earlier. The questionnaire tries to capture the consumers emotional, mental and behavioral responses, along with other factors like age, gender, income and ethnicity. The questionnaire also reveals the laptop choices of the respondents depending on various external factors.Based on the questionnaire and the choices of the respondents, the buying trends of the respondents are analyzed. The insights that are gained from the behavior of the three respondentsare used as recommendations for marketing strategies in the future.
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Science of Consumer Behavior41.IntroductionConsumer behavior could be defined as thestudy of how consumers make important decisions about the things they intend to purchase (Anderson and He, 2015). Consumer behavior playsan important role in analyzing how potential customers would respond to a new product in the market (Bradford, et.al, 2017). A scrutiny into the behavior of prospective buyers also helps in identifying new opportunities for the seller (Lantos, 2015). An in-depth analysis of the behavior of the consumers reveals how individuals select and buy goods to satisfy their needs. It also provides certain clues for improving the existing product and to develop marketing strategies (Solomon et.al, 2014).A laptop, which is a personal computer that is designed for personal use, has become an accessory for students and business people alike. The purchase of a laptop is a very critical decision and can throw light into the different aspects of consumer behavior that range from personality to demographics (Stephen, 2016).2.Analysis of chosen respondents behavior based on personality theories.The major aspect to be taken into consideration while analyzing consumer behavior is thetrait theory (Lievens et.al, 2018). Having a deep analysis of the personal traits of the consumers helps in deriving a link between the purchasing choices and an individuals personality (Mathews,2018). Based on the trait theory, an individuals personality may be categorized into outgoing, sad, stable, relaxed, imaginative, self-assured or practical (Beatty andPascual‐Ferrá, 2016).Similarly, the Freudian Theory explains factors like ID which is directly related to the desires of an individual triggered by the unconscious aspect of the human mind (Stoléru, 2014).Ego is another factor which is the fully conscious self-image. Ego controls the impulsive
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