Concepts of Consumer Behavior
Project BriefThe objective of this project is to apply consumer behaviour concepts and theories discussed in the course on real-life brand strategies. Don’t forget, relate with course material.InstructionsSelect a brand that all group members are familiar with. If different products are offered under the same brand, choose one product category as the object of this project.Collect background information about the brand. Identify its consumer decision process.Detail the consumer decision process:Type of decision-making processProblem recognition:Is its ideal state opportunity recognition or actual state opportunity recognition?is it usually associated with a generic or selective problem recognition?Information search:Where would a typical consumer search for information about the brand or the product category?What types of information search (external or internal)? In light of the above, how would you evaluate the promotional channels that the brand uses? What do you recommend?Evaluation of Alternatives and Product Selection:Is your brand typically in the evoked, inert, or inept set for the majority of your consumers?What competing brands would be in the same set as your brand?Which category of decision rules are typically associated with the purchase of your brand (compensatory or non-compensatory)? and what are some of the important evaluative criteria? Which are hedonic and which are utilitarian?Buying:From where do consumers usually buy the product? (reflect on the brand’s distribution channels)What factors affect which outlets would consumers use? Post-Purchase behaviour:When do consumers typically consume the brand after buying it (simultaneously or after some time)?Review the overall reviews of the brand online. Are consumers generally satisfied or dissatisfied? Why? Is the brand being recommended to others?How do they typically dispose of the brand?Conduct 1 zoom interviews with family and friends who use the product to learn more about their lifestyles, values, decision making process, as well as what factors influence their decisions. If you do that, please include the questions in the appendix. The interviews should have a significant added value on your analysis, so wherever you use information from your interviews (for example, in identifying the psychographic profile of the target market, or in the consumer decision making process), please cite the interviews (without including the names of the interviewees for anonymity. Just use initials like YB for Yousra Bakr).