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This assignment continues on from Assignment 1. The aim of this assignment is to understand the buying influences on a consumer when they purchase a particular product and use this information to identify the implications to marketing.
The assignment is in two parts.
Part (i) – primary and secondary research (1,400 words)
You are to analyse the internal and external influences of a consumer who purchased the product that you discussed in Assignment 1.
In order to complete your analysis you will need to research the information available, including collecting marketing intelligence, and any other relevant resources (like the research you gathered in Assignment 1).
If you have access to the consumers from Assignment 1 you are free to interview them again to assist in providing further information for this assignment. If you don't have access to the interviewees again, use evidence from the organisation's marketing collateral or information from credible sources to assist in answering the question.
Credible sources can include journal articles, media reports, qualitative information gained from Assignment 1 and industry information.
Using this information:
(a) explain the different internal influences on the consumer's decision making process (15 marks)
(b) explain the different external influences on the consumer's decision making process (15 marks)
Don't limit your answer to a description; it is important that you provide evidence to support your answer. Remember, 'explain' means you need to think critically; focusing on the 'why' and the 'how'.
Part (ii) – conclusions on the implications to marketing (400 words)
From your analysis from part (i) on the internal and external influences on the decision-making process, and your findings in assignment 1, create a table which summarises the internal and external influences in one column and provide corresponding marketing implications/tactics, to reach the target market, in the other. (6 marks)
A survey was conducted, and the questionnaire was filled by two respondents about their shopping experience with a retail chain, Walmart. This report tries to understand what factors – both internal and external, influenced the buying decision of the respondents. Below are points that discuss the factors based on the nature of responses from the respondent as well as from secondary sources of information such as periodicals, journals and reports. Based on this, it would be possible for the retailer to focus on those specific areas for improvement and better customer satisfaction.
3.1 Primary and secondary research
The decision-making process contains the below-illustrated steps, and in each of these steps, internal and external influences have a role to play.
For purposes of analysing the factors that influence a consumer's buying behaviour, two types of resources were used. The primary sources of information include the responses from 2 individuals who had purchased the same product. Their response was gathered by using a questionnaire. For secondary research, journal articles, and studies in the area of consumer behaviour and marketing have been used.
Consumers generally make decisions with respect to their choice, buying pattern and utility based on certain parameters. These become crucial both for consumers as well as the service providers. (James R.Bettman, 1991)