The main objective of the study of consumer behavior is to understand how consumers make their purchasing decisions and how they decide to spend the limited resources they have available to satisfy their needs and wants. The results of this analysis form the basis for developing effective marketing strategies capable of achieving a company’s business goals.
This work focuses on one of the key elements of marketing strategy, promotion, and in particular on advertising, which is the main promotion tool in consumer markets.The main objective of the study of consumer behavior is to understand how consumers make their purchasing decisions and how they decide to spend the limited resources they have available to satisfy their needs and wants. The results of this analysis form the basis for developing effective marketing strategies capable of achieving a company’s business goals. This work focuses on one of the key elements of marketing strategy, promotion, and in particular on advertising, which is the main promotion tool in consumer markets.
You should initially choose four important concepts related to the study of consumer behavior from the list below:
– Consumer segmentation
– Consumer motivation/incentives
– Consumer personality
– Brand personality
– Consumer learning (e.g., classic link, factorial link)
– Changing consumer attitudes
• Next you will have to find for each concept you choose an advertisement (published on the Internet) which in your opinion will use that particular concept in order to influence consumer behavior in favor of the brand that is advertising . These advertisements should be presented as an Appendix at the end of your study.
• For each of the four concepts you choose, you should present a short definition as well as a theoretical explanation of its importance for the study and understanding of consumer behavior. You will then need to explain how this concept is used in the particular ad you choose so that it becomes attractive to consumers and achieves its objectives. The objectives of an advertisement may be to increase sales of the brand, to inform consumers of the introduction of new products and services or of changes to existing products/services, to convince consumers of the benefits and value of the brand, to persuade consumers to take specific actions, etc.
At least two of the advertisements you choose must have been broadcast through television stations circulating or broadcasting in Cyprus.
Note: THE FOLLOWING 2 ADS ARE BROADCAST IN CYPRUS SO MUST USE:
1. https://www.youtube.com/watch?v=tVbR4hBRG_Ihttps://www.youtube.com/watch?v=tVbR4hBRG_I ,
2. https://www.youtube.com/watch?v=W5PRZuaQ3VMhttps://www.youtube.com/watch?v=W5PRZuaQ3VM
For the 3rd and 4th please use any big company that you feel fits best)
• For each of the advertisements you will examine, submit suggestions on how they could be improved, making better use of some of the concepts and theories of consumer behavior that we will study in this lesson.
• At the last stage of your research, choose one of the products displayed in one of the four advertisements you have examined. Based on your personal experience or the experience of others who have recently purchased and used this product, state the key psychological and socioeconomic factors that influence consumer behavior and purchasing decisions in the specific industry to which this product belongs.
You should initially choose four important concepts related to the study of consumer behavior from the list below:
– Consumer segmentation
– Consumer motivation/incentives
– Consumer personality
– Brand personality
– Consumer learning (e.g., classic link, factorial link)
– Changing consumer attitudes
– Consumer culture
• Next you will have to find for each concept you choose an advertisement (published on the Internet) which in your opinion will use that particular concept in order to influence consumer behavior in favor of the brand that is advertising . These advertisements should be presented as an Appendix at the end of your study.
• For each of the four concepts you choose, you should present a short definition as well as a theoretical explanation of its importance for the study and understanding of consumer behavior. You will then need to explain how this concept is used in the particular ad you choose so that it becomes attractive to consumers and achieves its objectives. The objectives of an advertisement may be to increase sales of the brand, to inform consumers of the introduction of new products and services or of changes to existing products/services, to convince consumers of the benefits and value of the brand, to persuade consumers to take specific actions, etc.
10
At least two of the advertisements you choose must have been broadcast through print media (newspapers/magazines) or television stations circulating or broadcasting in Cyprus.
• For each of the advertisements you will examine, submit suggestions on how they could be improved, making better use of some of the concepts and theories of consumer behavior that we will study in this lesson.
• At the last stage of your research, choose one of the products displayed in one of the four advertisements you have examined. Based on your personal experience or the experience of others who have recently purchased and used this product, state the key psychological and socioeconomic factors that influence consumer behavior and purchasing decisions in the specific industry to which this product belongs.
