Aim:
The aim of this assessment is to critically evaluate the consumer decision-making process and explore the key factors that influence consumer behaviour and consumption of a product or service.
Instructions:
1. Prepare a report. Use credible, peer-reviewed sources of information (textbooks, academic journal articles, newspapers, marketing reports, data from Government bodies), with a minimum of five (5) references.
2. Ensure the report is structured using the headings (and content) described below:
Report outline:
1. Introduction: outline the purpose of the report.
2. Purchase Situation
- Product/service and type of consumer decision-making Description of product/service and analysis of the type of consumption or purchase situation, i.e., low, medium, or high involvement, nature of risk — social, financial, etc. For instance, medium-high involvement purchases require more information, careful consideration of the purchase by the consumer, and more complex decision-making.
3. Factors influencing the Consumer Decision Making Process
- Factor influencing consumer behaviour Models of consumer decision-making, both rational and emotional, are outlined in lectures and in the textbook.
