MBA404 Consumer Behavior & Marketing Psychology: Netflix Project

This project analyzes the consumer decision-making process related to the purchase of a Netflix subscription. The assignment explores the consumer behavior, including the influence of factors like motivation, perception, and lifestyle on purchasing decisions. The project focuses on the five-step consumer decision-making process: need and want identification, information search, evaluation of alternatives (including factors like budget, streaming services, and data storage), the actual purchase, and post-purchase behavior (including cognitive dissonance). The project also considers the role of various sources of information, such as social media, reference groups, and brand image, in influencing consumer choices. The analysis highlights the importance of understanding consumer behavior for effective marketing strategies, and the project references relevant academic sources to support the analysis. This assignment is designed to demonstrate an understanding of consumer behavior theories and concepts learned in the course, offering a comprehensive overview of the decision-making process involved in purchasing a streaming service.

Consumer
behavior
Netflix

Content
 Introduction
 Consumer decision making process
 Need and Want
 Identification and Analysis
 Evaluation of Alternative
 Attributes for satisfying the needs
and wants
 Post-Purchase Behavior

Introduction
 Customer group and individuals are studied
 Understanding of preferences, selection,
purchasing and disposing process
 Determination for purchasing decision
 Purchase of Netflix subscription
 Consumer decision making process is analyzed
for the purchase of service.

Consumer behavior
 It includes the behavior which consumer display
in searching the product for satisfying the needs.
 Consumer behavior includes the
 Motivation
 Personality
 Learning
 Motives
 Perception
 Attitude

Consumer decision making
process

Need and want
 Need
 Budget
 Streaming services
 Quick delivery
 Want
 Lifestyle
 Cloud- Unlimited data storage

Buying decision
 Internal sources of information
 Life style
 Preferences
 External sources of information
Social groups
 Application Ad
 Brand Image
 Social Media
 Reference Group

Evaluation of Alternative
 Netflix
 Amazon prime services
 Zaggle.com
 Walmart.com
 Target.com

Attributes to satisfy Needs and
Wants
 Free and fast shipping
 Budget friendly offers
 Unlimited access
 Exclusive movies and web series
streaming

Post purchase behavior
 At this stage, Cognitive dissonance is
analyzed.
 Numerous exclusive deals
 Student friendly subscription package

REFERENCE
 Darley, W.K., Blankson, C. and Luethge, D.J.,
2010. Toward an integrated framework for online
consumer behavior and decision making process:
A review. Psychology & marketing, 27(2), pp.94-
116.
 Hofacker, C.F., Malthouse, E.C. and Sultan, F.,
2016. Big data and consumer behavior: Imminent
opportunities. Journal of Consumer Marketing.
 Lee, E., 2013. Impacts of social media on
consumer behavior: decision making process.