Consumer Behavior and Marketing Psychology

Running Head: Yeast 0
Consumer behavior
and marketing
psychology
6/12/2019

Yeast 1
Executive Summary
The development of the report is a response to the consumer behaviour associated with the
decrease of loyalty from customers. In the following, the discussion covers the product
overview, marketing strategies, and issues related to the product i.e. Vegemite. In addition,
the report covers the strategic recommendations to execute strategies that help an
organization to fulfil the marketing goals. The possible source of the issue, which has been
highlighted involves integrated marketing communication and exclusion of individual factors.
As per the possible solutions, it has been recommended that they need to use the generation
of innovative products, digital marketing, and better products at lower prices.

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Introduction
The study of consumer behaviour enables marketers to comprehend and predict purchase
behaviour of the customers adequately. It is associated with not only what customers buy but
also with when, how, why, where, and how often they buy it. It is stated that consumer
methodology is utilized to study consumer behaviour and carried at each & every phase of
the consumption procedure (Javornik, 2016). It depicts the study of how people make their
purchasing decision concerning their accessible resources. The behaviour that customers
undertake in using, purchasing, evaluating, seeking, and disposing of products as well as
services in order to fulfil their needs (Rödiger and Hamm, 2015). In the following, the
discussion has also been made on the perception and behaviour of the Australian consumers
and the selected product for the evaluation is Vegemite. It is stated that consumer behaviour
has become a significant part of strategic market planning. In addition, the report is
segmented into two key sections i.e. product overview & marketing issues and critical
analysis of the selected product.
Product overview
The product chosen is Vegemite, which is a black, thick, and salty spread produced from
leftover brewer’s yeast. It is not a gluten-free product, but practically a vegetarian, sugar-free,
and fat-free product. The flavour of the vegemite is slightly salty with a subtle bitterness,
which is eaten while spreading on crackers or bread with some butter. It is stated that some
people like to eat by the spoonful straight from the jar. Vegemite is full of huge vitamin, 0%
fat, special ingredient, sugar-free and exceptional taste. It is considered as the fast-moving
consumer products in Australia. In simple words, it is a thick paste utilized as a bread spread
produced from yeast extract flavoured with onion, celery, and several other ingredients
(Hamilton, Alici and in het Panhuis, 2018).