Choose a Company Select a company of your choice.Evaluate and analyse a chosen company’s marketing strategy in the context of consumer behaviour.
Assignment Question
consumer behaviour
The objective of this assessment task is to evaluate and analyse a chosen company’s marketing strategy in the context of consumer behaviour. By conducting an in-depth analysis, you will gain insights into how the company understands and responds to consumer behaviour to create effective marketing campaigns.
Step 1: Choose a Company Select a company of your choice. This company should have a significant online presence and a well-documented marketing strategy. You can choose from various industries, such as retail, technology, fashion, or food and beverage.
Step 2: Research the Company and its Marketing Strategy Conduct thorough research on the chosen company and its marketing strategy. Utilize a combination of primary and secondary sources, including the company’s website, annual reports, marketing materials, news articles, and academic publications. Focus on understanding how the company interacts with and influences consumer behaviour.
Step 3: Analyse Consumer Behaviour Insights In your analysis, address the following key aspects related to consumer behaviour: 1. DemographicsandPsychographics:Identifyanddescribethetarget customer demographics and psychographics that the company caters to. Who are their primary customers? What are their values, attitudes, and lifestyles?
2. ConsumerNeedsandWants:Analysehowthecompanyidentifiesandfulfils consumer needs and wants through its products or services. What consumer problems or needs do the company’s offerings solve?
Step 4: Assess the Marketing Mix (4Ps) Analyse the company’s marketing mix (Product, Price, Place, Promotion) in the context of consumer behaviour:
1. Product:Discuss how the company’s products or services align with the preferences and needs of their target consumers. 2. Price:Explain the pricing strategy employed by the company and how it influences consumer behaviour and purchasing decisions. 3.Place:Describethedistributionchannelsandlocationsusedbythecompany to reach its target consumers. 4. Promotion:Evaluate the promotional strategies employed by the company, including advertising, branding, and promotional campaigns. For example, evaluate the company’s methods of engaging with consumers via its promotional mix tools. This can include online and offline channels, social media, email marketing, content creation, and customer support.
Evaluation and Recommendations Based on your analysis offer practical recommendations for improvements or adjustments in the marketing strategy to better align with consumer behaviour insights.
