|Subject Name:||Consumer Behaviour and Marketing Psychology|
|Assessment Title:||Individual Report|
|Assessment Type: Length:||Written Report|
2000 words (+/- 10% allowable range)
Individually, you required to write a 2000-word report based on the scenario provided in the assessment instructions.
This assessment is a culmination piece, in which you will be given an opportunity to combine the information you have accumulated in Assessments 1 and 2. More importantly, you will need to showcase an understanding of marketing issues related to consumer behaviours such as attitudes, group influences, culture, social class, consumer learning processes, and personal buying decision-making processes.
Your task is to imagine that you have just been employed by the company of your chosen product or service that you analysed in your earlier assessments and that the marketing department of this company has asked you to prepare a 2000- word report in which you must:
In addition to your video and survey results, you are required to use at least 15 sources of information and use Kaplan Harvard Referencing Style. Wikipedia and other ‘popular’ sites are not to be used. These may include government publications, industry reports, and journal articles.
Consumer Behaviour and Marketing Psychology
Through this assignment, the purpose is to understand how the chosen product and the consumer behavior and orientation around it. The chosen product is the skincare product and how the consumer behavior orients and demands related to it. The consumer behavior and demands are affected due to the internal and external factors. The product creates an influence on the consumer and through the gathered evidence, the consumer can also create an impact on the product requirements and the future desirability. Consumer behavior and through the active marketing psychology, it can help to access and judge the consumer interaction and engagement with the product and brand. The company can use the appropriate communication mix and keep the audience involved and create a presence in their mind. It can also be used to influence the consumers and create a niche of their products in the mindsets of the consumers.
In this report, the consumer behavior and the orientation around the product or service would be evaluated in detail (Foxall, 2018). As observed, how consumer behavior is often influence due to the marketed details, advertisements and due to the publicity about the product. Often the consumers choose, only such products that have a deep impact on the consumer mind and psychology.
Consumer behavior has have been examined at the various stages, either through one own personal attributes, through the influence of the advertisements, publicity or with the simple word of mouth. It helps to make a choice and a researched choice. It can also help the consumer to ascertain how the product can be used and what can be benefits or side effects. At every point, evaluating the product and determining the new and the existing client can be unpredictable, as often the consumer changes their attitudes, perception, behavior, and loyalty depending on the influences, changes in trends, preferences or simply due to the needs. It is important to note how a certain product can be available in the market or can be regularly purchased. It helps the companies to note the sales, revenue and profitability levels.
Overview of the product or service and its market performance
The product is skincare which is Vaseline and to evaluate the market performance. The core goal while noting the pain in the skin and the reactions in the skin dryness, what can be the best fit of the skincare and following the regime. For this, the product was compared with the existing brand which was available in Coles, Woolworth and other superstores, the prices were compared and benefits were noted (Baker, 2016). Depending on the past experiences and the present benefits derived, the product Vaseline was chosen and compared with the benefits of the other products. As the Vaseline is the most trusted, renowned and valuable brand, while comparing with the other brands, one can blindly follow the choice, due to the benefits derived and the past instances. As noted, my skin has certain dryness and flaky skin which was getting peeled, with the use of the Vaseline lotion, it has helped to quickly fix the situation and helped to moisturized it.
Vaseline is safe to use on the hands and body and it is the most trust favorite brand of moisturizer. The jelly and the moisturizer, is free from any impurities, can help to protect the skin, heal the cut areas of skin and even provide quick relief (Arogundade, 2016). It can even be used to remove any minor rash, to soften the skin and lock in the moisture to the dry areas. It can also heal the cracked skin and any burning or flaky skin area. Vaseline is made of the minerals and microcrystalline wax and it makes the skin smoother, helping in the partial mix of the hydrocarbons with the mines. As such the product has no side effects and has good market performance, sales, and growth. It even works over any sort of burning, stinging any spots of redness, or irritation used on the skin cuts.
Vaseline has to choose and understand how the market can be explored and it can combine with the number of demographics, variation in the market and understand the needs, preferences, and requirements (Bhargava, 2016). For example, when in Australia, the product can focus on sunburns and other aspects, so it can combine good moisturizer with a good SPF number. At the same time, the numerous consumers can be understood through their attitudes, having a certain group influences, equate it with the culture, social class and integrate it with the consumer learning processes along with having an engaging behavior. It can also relate to the personal buying decision-making processes.
The appropriate communication mix which the company can launch, is through the events sponsorships, by having a more personal engagement and distributing the free samples and trials. It can even market its product by combining it with the other brands and offer discounted rates, trials and other types of products.
It is important to note, how through personal interaction and engagement, it can keep the audience involved and create a presence in their mind. It can also be used to influence the consumers and create a niche of their products in the mindsets of the consumers. As observed, the products have a vast presence and many consumers look forward to connecting with the company.
The company can also use the communication mix of the advertising, including public relations, have a sales promotion, influence the public through personal selling and involvement in direct marketing. The company can also engage and use the product by creating a marketing objective and having a strategic influence (Géci, 2017). The company mainly uses more of the advertisements, events and personal direct selling techniques, which has helped the company to create a mark in the mindsets of the consumer.
The product, through the visual, tested and tried products helps in connecting with the consumers. It also helps in creating a detailed discussion that can help to create a faster and successful method of communication. The product is distributed at the discounted rates in new stores, or with the free samples along with the other products, in magazines, newspapers can help to influence the public and create a mark. Overall, with the niche in the market, the company can influence the large public and connect through the products by providing as per the consumer needs, preferences and the desired demand (Foxall, 2018). The company ensures to match as per the consumer expectations. At every stage, it provides competitive pricing and influences the large market or targets a specific demography section.
The communication mix which can be used for the product Vaseline can help to influence growth and market the product. When using the appropriate marketing mix for the product, it should be rational and influential. While using the specific marketing mix, it can help to evolve the product and keep the product sales more engaging and increase the communication by creating a persuasive, informative and have a positive message. Overall, it can help to create marketing communication which would be a factual presentation of providing an influential encouraging message related to the products/services.
(Source Arogundade, 2017)
To make the product presence felt in the targeted market, the communication mix of the events and the sponsorships should be used (Haugtvedt, 2018).
The following are the important points that you need to take care of for effective marketing communications. For this, the product should have an appropriate mix of communication and relating it with the purpose of the events. To create a successful story, the below are the tips-:
Persuasive Message – It should include persuasion through the different customers which can be combined through the related requirements and expectations; which can help in creating customization of the persuasive messages depending on the need.
Design – The pamphlets and the messages displayed, should have a transparent medium of communication (includes the awareness of the products through the magazine, can be through the newspaper, or using the engaging digital media, or brochure) which can help in creating a mark with the design and requirements. Strategically during the events and the sponsorships can have the set plan and designing of the messages accordingly.
Feedback – The communication can be interactive during the events and can also use the positive or negative feedback from the audience either verbally or through the surveys; which can further help to improve the marketing communication.
The product can be advertised at repeated intervals, but it is costly and during peak hours, it can also mismanage the funds. Additionally, with the advertisements, it can keep the more involvement of the print media, can use the model of the communication such as motion pictures, advertisements on the television, radios or simply through social media such as Youtube, Facebook, etc. the more it is marketed, the more it would influence and connect with the consumers (Minton 2016). At the same time, it can also have the set electronic media, booklets, magazines, have an engaging display, billboards and keep the unique symbols and logos creating a mark. It should also have connected audio and video materials and also have an engaging point of display and have a good connection with the consumers. When the product, becomes popular, the use of the advertisements can be limited and just be once in a while. The role of the advertisement is unless the people are not aware of the benefits, side effects and the desired outcomes from the product, it would not be helpful to sell it. It can create a popularity influence and communicate with the people. It can help to improve and market products at every market domain and optimizing it with the business performance. Advertisements, can help to create a niche for the product and determining the new and the existing client can be unpredictable, as often the consumer changes their attitudes, perception, behavior, and loyalty depending on the influences, changes in trends, preferences or simply due to the needs.
Three strategic recommendations that either address previously identified misalignment
The changes would be the post-purchase evaluation which should be more related to individual customers and they should be encouraged to send their feedback. It would help to relate with the future and the existing approach of the customer purchase decision and it can also keep the customer engagement and influence while purchasing the product and the services. It is important to ascertain the consumer personal attributes and connect with the suitable mode of involvement (medium or high), cultural factors, social dynamics, product proposal, and the post-evaluation rationally. It helps to make a choice and a researched choice. It can also help the consumer to ascertain how the product can be used and what can be benefits or side effects.
The second recommendation is the approach of using the information search, having a comparison with the alternatives and also streamlining it with better decision making the process of the customers. In this, the product Vaseline, can use the approach of information research and separating the information into different outcomes. As per the consumer's key requirements, needs and benefits it can be segregated and be matched with the outputs. The information search process only the feedback and the variation analysis can also be used, It can help to strategically place the product and also categorically place it within the market. It can streamline the products and market the products as per the requirements (Rimkute, 2017).
The third recommendation is how the business market and target it's existing and potential customers is through age-old tactics and convenience which is the television or with personal sellings. even though the marketing communication tactics helps to increase the sales, revenue and helps in building the desired growth, but this mix can be rigid and limited to the certain people who watch television or are available during the personal selling meets. The company can expand it through social media to use more digital media, as the internet is the new tool, which can help to connect with numerous customers and keep them engaged. It is how to take the feedback, product analysis and review the competitors. For this, the company ahs to timely invest in market research and invest time in understanding the performance of the other companies (Wells, 2017). It can research, compare and strategize. It need not imitate the strategy but understand and evaluate the changing consumer preferences, needs, and requirements.
The consumers are the most important for any company and the product. The product required changes, having a set recommendation and also aligning it with the consumer changes and relating it with the attitudes, perception, behavior, and loyalty depends on the influences. The company can also revolve with the changing trends, preferences or simply due to the needs. It is important to note how a certain product can be available in the market or can be regularly purchased. It helps the companies to note the sales, revenue and profitability levels.