Name of the Student:
Name of the University:
Principles of consumer behavior
Explanation of principle
Examples on buyer behavior
|Cultural||Based on cultural background, the values and perception for buying varies among consumers, sub cultural factors including shared values within group, common life experiences affect the buying behavior of people. Sub cultural groups often consider a brand more feasible than others in a market||For example, recently, the ‘ethnic’ cosmetics which have become popular are more suitable to non-Caucasian population as well as Arab, African or Indian population. On the other hand, another example related to the sub class division is, while buying anything, urban educated or upper class people exhibits individualism, while the Indian culture shows collective nature of buying (Argenti 2012).|
|Social||Social factors influence consumer’s buying behavior which are groups, family and consumer’s social role and status. Education, wealth, occupation and income status decides the social class of people which promotes the buying behavior of consumers||One exam1ple for social factors influencing buying behavior is, consumer from the middle and upper class attempt to purchase more healthy and balanced food than consumers belonging from lower social class. It can be due to awareness or economic factors. Another example of social factor influencing buying behavior is, an upper class consumer always tend to be attracted to products or services with better quality, features, innovation or social benefits, whereas, in contrast, consumers from lower social backgrounds are more concern with product price (Khang and Ye 2012).|
|Personal||Personal factors including age and family life cycle stage influences economic situation and occupation influence personality and self-concept which influence buying behavior||People have personal values and beliefs which promote buying behavior. Based on age , people changes the buying behavior. For example, at the young age, people like to buy fast food and high fat food without hesitating, however, at the middle age of life, people prefers low cholesterol food (Castronovo and Huang 2012). Lifestyle of the family also affects buying behavior. A middle class Indian family would not buy alcoholic beverages as frequently as family in UK.|
|Psychological||Psychological principle depicts that psychological factors including motivation, perception, beliefs, learning and attitude has an huge impact upon buying behavior||Sometimes, the psychological factors enhance promote the superiority of a brand after receiving a good service for one time, for example, many women prefer the brand Lakme and purchase products without having a second thought. On the other hand, the psychological factors promote the attention of consumers in accordance to their current needs, for example, people wishing to buy a car would pay more attention to a care advertisement, in spite of a computer advertisement (Rice and Atkin 2012).|
|Situational||The situational factors including availability of the product, location of store, weather of particular day and timing of the purchase influence the consumer buying behavior.||Situational factors like weather can promote buying behavior. A person would wish to have a burger in a sunny day rather than a rainy day. Timing is another major factor. If a consumer have less time, he would prefer online brand rather than visiting to a store|
Marketing communication options
Explanation of vehicle
|Television||Television is characterized as the broadcast vehicle which is used for targeting mass audience with low cost/target (Rice and Atkin 2012).||When small businesses are unable to afford to national network, they can use local networks of television for marketing purpose||It lacks excessive detail-sharing and time duration is low|
|Direct mail||It can be used for both short and broad message transduction||Can be send to targeted audience||Take more time and cost will be more than mass media vehicles|
|Website||It is a mass media vehicle which helps in grabbing consumers attention by providing basic information about products or services||Provide the opportunity for both mass and interpersonal communication||Cannot target a specific audience group|
|It is the narrowcast media vehicle||Take less time and provides low cost advertising options||Hacking or spamming information|
|Radio||It is also broadcast and traditional media vehicle targeted for wide range of audiences (Yeshin 2012)||Beneficial for small businesses||Can only advertise to local network|
|Telemarketing||It is direct marketing vehicle where sales person communicate with consumers over call or web conferencing||Direct communication is facilitated||Takes more time and cost|
|Transit media||It is a print vehicle of media which are accessible to people compared to other vehicles||More accessible and used in targeting mass media||Expensive in comparison to the other media vehicle options (Khang and Ye 2012)|
|1. Australian consumer law (ACL)||Australian consumer law helps to avoid any kinds of unfair practices in business, it helps to reduce misleading or deceptive conduct, false representation, promote marketers to provide standard information (Legislation.gov.au 2016).|
|2. Spam act 2003||It inhibits unsolicited e mails sending to any consumers or people linked to the business which is known as spam with an Australian link.|
|3. Telecommunication act 1997||It regulates the activities in telecommunication industry and guide to have their carrier license. It also deals with industry standards and codes development in any particular industry (Legislation.gov.au 2016).|
|4. Privacy act 1988||Privacy act 1988 deals with privacy in the rights of consumers, marketers and all other people who are related to the business. The privacy rights are known as information privacy principles which are applied to the Australian government and Australian capital territory agencies and private sectors. The principles related to the law direct the way of personal information collection by the government agencies from the business organizations (Legislation.gov.au 2016).|
|5. Freedom of Information Act 1982||The freedom of information act 1982 provides the business participants the public rights for accessing official documents of their related agencies. This act promotes marketers to share information with the shareholders and other members from the government agencies (Legislation.gov.au 2016).|
Argenti, P., 2012. Corporate communication. London. McGraw-Hill Higher Education.
TASK – Complete Assurance of Learning Exercise 2B, Steps 1–2, for Advance Auto Parts, Barnes & Noble, Estée Lauder, Family Dollar Stores, FedEx, and Ford Motor Company on textbook page 54 on which I have copied from my student textbook below. I have attached a copy of a group grading sheet in order to keep the assignment on track and highlighted it for this assignment.
Topic: Price Strategy
This is not a research paper.
we are to be applying what we’ve learned in a hypothetical real-world situation, so we aren’t supposed to just explain the portions of a marketing plan from what we have been learning. The name of my course is Business 330. The book name is Kerin & Hartley: from ch. 18.
. define/ provide explanation of value capture
.coordinated business models in networks
. value appropriation through control of digital industry architecture
=> Definition – The value capture has been for the public financing which is able to set the public infrastructure based on the generation of the private landowners. There have been public investments which are important to generate the land values with the focus on the increased profit in the private sectors which capture all the positive externalists.
MANAGE PERSONAL WORK PRIORITIES AND PROFESSIONAL DEVELOPMENT
1. How do you see yourself as a role model at work and how do you maintain personal performance in varying work conditions, work contexts and contingencies?
The steps for conducting quantitative research are:
- Develop the research methodology: A basic methodology is essential in determining the method for that can vary as per the need
- Developing the sampling frame: The sampling frame helps in determining what exact number of people are needed to complete the research
- Determine the resources needed i.e. people, equipment, etc.: All the resources need to be listed and considered along with costs
- Developing the Timeline: A timeline helps in understanding the position at which project currently is
- Developing the budget: Budget development ensures that total cost remains within bounds
- Conducting a pre-test before fielding the survey and revision of questionnaire if needed: A pre-test helps in error rectification and improvement of data collection process
- Programming the computer for data entry: A computer program ensures that data entered is in order and can be easily processed.
A stratified sampling technique is preferred because it offers greater precision for the same sample size taken. This leads to a reduction of costs significantly over the other techniques and makes the technique advantageous over the other techniques.
Question 1)A Holistic rewards package should include a combination of monetary and non-monetary rewards (500 words)
Question 2? Should a company’s recruitment & selection approach be directly aligned with its values? (500 words)
BUSINESS ENVIRONMENTAL ANALYSIS
McDonald’s is a food chain having franchisees in the world that serves millions of people every day. They have a high brand image because of quick service, quality food and experienced management (Aboutmcdonalds.com, 2015). The business environmental analysis is discussed as macro-environment and micro-environmental basis.
Table of Contents
Traditional SDLC Model 2
Steps of Traditional SDLC.. 2
I. Planning. 2
II. Requirement Analysis. 2
III. Design. 2
IV. Development 3
[Type the company name]
Integrating SCM, CRM and ERP at Shell
[Pick the date]
Shell Corporation is one of the largest global corporations. This global group of petrochemical and energy consists of about 94000 employees operating in over 70 countries and territories. They are well known for usage of technologies and known for their innovative approach to creating a sustainable future. (About Shell)
Table of Contents
LAYOFFS AND PLANT ISSUES IN SINGAPORE.. 3
ROLE OF BUSINESS TO DEAL WITH LAYOFFs AND PLANT CLOSING.. 4
ROLE OF LABOUR TO DEAL WITH LAYOFFs AND PLANT CLOSING.. 5
ROLE OF GOVERNMENT TO DEAL WITH LAYOFFs AND PLANT CLOSING.. 5
The advancement in the field of technology has allowed businesses in performing their business processes in a highly efficient manner in satisfying its customers. The application of technology is evident in respect to all the major business areas of organisation including the management of various processes and functions. There has been rising overall importance of the concept of process technology which implies the use of equipment in transforming the products that creates value to customers. Businesses are making used of highly advanced and sophisticated process technologies in performing the management of their business processes, and this in turn has resulted into the attainment of improved level of efficiency in their operations. Apart from this, the role of technology is also evident in respect to the ways in which business processes are being carried out. As for instance, there has the rise of e-business concept whereby products and services are offered online to the customers. There is significant level of benefits being possible as a result of process technology and e-business as adapted by businesses.
Table of Contents
Executive Summary. 3
Question A.. 3
Question B.. 3
Question C.. 4
Question D.. 4
Question E.. 5
Discussion and analysis. 6
This particular project generally focuses on the main and the major processes of the Boral BLD which generally produces their own products and supplies it as well. The Building Products portion is occupied with Australian blocks, top tiles, stone work, timber items and windows. The Boral USA is occupied with Bricks, refined stone, top tiles, fly powder, solid and quarries. This particular generally highlights the main causes and the consequences of the improvement of the Boral BLD. Further in the research you will be able to recognize that how the CEO of the company helps the Boral BLD by making the annual report of the company.
Currently, most of the business is focused towards the affects created by the business operational activities to the business environment. In result of increase concern towards the ethical concerns and increase in customer awareness, most of the businesses are trying to promote their social values, in order ensure about the competitive advantage (Carroll 1999). It is noted that business ethics try to embrace the corporate social responsibility, along with ethics that associates with the marketing,accounting practices, human resource management, as well as production.
Leadership and Management. 5
Managing Performance. 9
Personal skills audit. 11
Title – Personal Leadership And Management Skills
The official rundown sets out the principle conclusions from this survey of whether and how administration and initiative improvement helps execution, and what further research would help us receive approaches and practices to amplify this profit.
Business principles are ethical values that direct the technique in which a business behaves. The identical values that decide an individual’s proceedings also applicable to business. Acting in an principled method occupy unique amongst “correct” and “incorrect” and then building the “correct” option. (Shefa siegel 2013), It is comparatively simple to recognize unprincipled trade practices. For instance, organizations should not employ child labor. They ought to not illegally use copyrighted resources and process. They must not slot in in bribery.