MBA404 Consumer Behaviour and Marketing Psychology Report Sample

MBA404 Consumer Behaviour and Marketing Psychology Report

Your Task

Individually, you are required to prepare a four-page written analysis based on the assessment instructions below.

Assessment Description

In this individual assessment, students will be given an opportunity to demonstrate their understanding and ability to explain consumer behaviour determinants by analysing the role perception, attitude, motivation, group and individual differences, culture, and family in consumer behaviour. Students will also demonstrate their ability to research and report contemporary consumer behaviour such as attitudes, group influences, culture, social class, consumer learning processes, organisational and personal buying decision making.

Assessment Instructions

Presume that you are working as a consumer behaviour consultant at the company that makes/produces your chosen product or service from the first assessment. During one of the recent meetings, the company has asked you to analyse a recent survey sample that was completed by consumers who recently purchased their product or service. Your workshop facilitator will distribute the survey sample to you at the end of week 5.

Based on the survey sample, you are required to prepare:

• a one-page summary of survey sample results (i.e., a shorter yet concise version of the survey sample results presented in writing).

• a two-page analysis of the sample survey’s key findings (i.e., what does this survey’s gathered data mean? How does this survey inquire into consumers’ perception, attitudes, motivation, cultural and individual factors? Which consumer behaviour theories and concepts may have been used in each of the questions to inquire into consumers’ perception, attitudes, motivation, cultural and individual factors and why?).

• a one-page statement in which you are to outline current consumer behaviour trends that should be considered by the company and justify why these trends are of particular concern from a marketing perspective.

An examination of relevant primary and secondary data must reinforce the written analysis findings.

You must also incorporate theories and concepts of consumer behaviour discussed in weeks 5 and 7 into your analysis.

Solution

Summary of survey sample results

Electronic gadgets are much popular in the present market and confirm the highest market share. Here the research focusses upon evaluating the consumer behaviour while buying Airpods. Apple Airpods having the same product line has confirmed successful market entry. However, in order to understand customer perspective or purchasing decisions on the part of the customers, the researcher has done a survey. According to the MBA Assignment Experts The result has confirmed that purchasing decisions have a strong connection with the belief and values of customers as 64% people support that in the survey in 1st question. Most of the purchasing decisions are matter of self-confidence and being happy with the decision, which has been highlighted in the 3rd question with 43% and 29% respectively. Further it is also been noted that, decisions are mostly done on the basis of necessity, to have an easy life and to confirm sensory or cognitive stimulation as per views of the participant in the third question. Besides, while evaluating the purchase decision, it is noted that one of the other major reasons behind buying Airpods is the involvement of the parent company in health services and in unethical and moral and socially initiated behaviour that is the brand image in terms of societal positivity. Influence of others such as, community leader and experts, peers, friends and family. In the aspect of buying behavior, there are different types of purchasing decisions, social status is even considerable. While buying a product, one wants to behave in the way they admire or want to be in that group.  Females are much more interested in shopping as per the survey. Considering the age, most potential buyers are 26 to 40 years. Employed people are mostly involved in shopping with an income level of more than $45000 to $120000.

Key Findings

The survey result confirms that purchasing decision is the result of a structured decision that confirms enough acknowledgment with the product type or its characteristic. Cultural elements, symbols, rituals, values, artifacts which confirm consumer behaviour and motivation even are associated with buying decisions.
With the help of consumer theory, the collected data by the survey can better be analyzed. The theory confirms that consumer behavior depends on demographic segmentation which specifically plays an important role. In the survey most people belong to the age group of 26-40, among whom female with social status are more than men, which states that female is fonder of Air pods. Different cultural factors like symbols, artifacts, values with varying percentage are involved in the entire process. The first and foremost concern comes as needs of buying that particular product, as the reason behind the purchase. As per the survey, more than 28% people have confirmed that due to necessity they buy a product. Maslow's motivation need theory can best justify this behavior, as the need is somehow related with types of need like psychological, safety, love, esteem, and self-actualization. While buying a product, survival or psychological need becomes most influential (Mao et al. 2020). 

Psychoanalytic theory confirms that purchasing decisions is a result of aspiration, hope, and feeling, which have a clear connection with demographic factors like age, gender, salary structure, social status, etc. As per this theory, this offer aspiration, hope, or feeling to buy that particular product, which has been seen in the survey as well. In the survey most people of the age group of 26-40 responded most among whom female with social status are more than men. The theory justifies the feeling or aspiration of buying. On the other hand, social psychological theory conveys purchasing decision is a matter of cultural and social factors, which is observed in question 6, 8 and 9 (Kim, Lee, and Lee, 2020). It even has a connection with the reference group as the reference group has the same type of cultural or associated background and mostly chooses the same type of product. Therefore, to belong in the group, people tend to buy similar product. Besides, Influence plays the most important role to convince them where expert opinion, and peers is confirmed as the best way to influence potential customers. Hence to be in the social circle of peers or to be in the reference group people buy Airpods.

Question no 5, justifies the purchasing decision behind buying air pods by the assistance of reasoned action theory, which confirms that positive influence and image of the brand is also a major reason behind the purchasing decision (Montano&Kasprzyk, 2015).It is due to the fact that positive influence sustain satisfaction to the consumer that they are investing in the brand which is working towards society such as spending in healthcare activities and is not indulged in illegal activities in a positive manner, which has been stated by the 70% of the people. User is even important as that leads to a better customer base (Qalati et al. 2019). In the question 7 of the survey 36% have confirmed themselves to play the role of user to offer review, which suggests that they are involved in the product and is getting influenced by its system and software and other technological advances. Thereby for Apple airpods, it is even important to have a positive review from the customers or users to influence the new potential target market as per the review of the present users. The theory of planned behavior finally justifies buying intention for a particular person, where values and beliefs highlighted in 1st question with 65% votes, confirms it as the intention to secure the decision of buying a product (Qazzafi, 2019). Considering all theories in the context of consumer behavior, it is quite clear that purchasing decision is a matter of time, budget, and motivational factor which depends on several referred aspects.

Current consumer behavior trends to focus:

Considering the survey result, Apple Airpods need to be much focused during their marketing where the first and foremost concern would be initiating positive influence (Apple.com, 2021). 36% people have confirmed positive influences are there on the consumer while they make purchasing decisions, hence positive influence needs to be sustained for which maintaining transparency is very important, specifically, for its product type by disclosing every associated factor of it to make the buyers convinced.

It is even clear that females within the age of 21 to 40 years having the proper type of affluence as well as social status are the most potential customers (Tien, 2019). Thereby, it is important for Apple Air pods to make the product much more engaging or attractive as the age or other factors always look for attraction along with quality. 

Apart from attraction and quality, another thing that is much important for Apple Air pods to have a successful market is the need to have the product. Thereby while designing the product Air pods, Apple needs to specify some needed features as per customers to convince them that it is not only a luxurious item rather an essential item to confirm customer base for the long term and even for the situational crisis like covid-19 (Valaei, and Nikhashemi, 2017).

References

Apple.com., 2021. Airpod 3rd generation. Available at: https://www.apple.com/in/airpods-3rd-generation/

Kim, J., Lee, H. and Lee, J., 2020. Smartphone preferences and brand loyalty: A discrete choice model reflecting the reference point and peer effect. Journal of Retailing and Consumer Services, 52, p.101907. https://www.sciencedirect.com/science/article/abs/pii/S0969698919304990

Mao, Y., Lai, Y., Luo, Y., Liu, S., Du, Y., Zhou, J., Ma, J., Bonaiuto, F. and Bonaiuto, M., 2020. Apple or Huawei: understanding flow, brand image, brand identity, brand personality and purchase intention of smartphone. Sustainability, 12(8), p.3391. https://www.mdpi.com/2071-1050/12/8/3391

Valaei, N. and Nikhashemi, S.R., 2017. Generation Y consumers’ buying behaviour in fashion apparel industry: a moderation analysis. Journal of Fashion Marketing and Management: An International Journal. https://www.emerald.com/insight/content/doi/10.1108/JFMM-01-2017-0002/full/html

Qazzafi, S., 2019. Consumer buying decision process toward products. International Journal of Scientific Research and Engineering Development, 2(5), pp.130-134. https://www.researchgate.net/publication/336047692_CONSUMER_BUYING_DECISION_PROCESS_TOWARD_PRODUCTS