There are TWO topics for Week 3. Both required. For each topic response, include at least one (1) reference from the internal learning materials and two (2) from external sources dated 2018 to present
TOPIC 1: Model of Consumer Behavior – Personal Application
Let’s take the Model of Consumer Behavior for a spin. Consider a specific time you purchased a meal for yourself or your loved ones outside the home. This could a take-out order, a delivery order, an outdoor dining situation, or a time you visited a restaurant. The meal doesn’t have to be fancy or expensive, just something that was satisfying to you at the time.
· What was your choice of restaurant or food delivery establishment? Provide a link, if possible. (Sonic – Fast, convenient drive thru, on my route to work from the gym. Coffee and breakfast options)
· Go through all the variables outlined in the first two columns of the model, environmental factors, and consumer factors, and identify the factors that influenced your decision. Note how they resulted in your purchase decision. (Hint: You might have to read ahead for more thorough explanations of each factor.)
As illustrated in Figure 3.9 in this week’s reading, there are six steps in a consumer decision-making process. It looks like quite a bit of work considering the number of purchase decisions we make in the course of a week. So consumers have developed a shorthand for making purchases, which we have categorized into types of consumer buying decisions based on the level of involvement. The course readings explain the role of involvement in decision making, and refer to those readings to get a better understanding of routine, complex, and limited problem solving.
· What was your decision-making behavior in the meal purchase? Was it a routine, complex, or limited problem-solving situation? Identify which behavior and explain how the level of involvement played into your decision.
TOPIC 2: Maslow’s Hierarchy of Needs
Maslow’s Hierarchy of Needs is the model for studying the psychological factors that affect decision making. Review the model and let’s discuss how recent events might have affected consumer behaviors in terms of Maslow’s Hierarchy.
Here’s an article to get you started. You should do additional research on this topic for more examples.
Name a stage and state what types of purchases consumers have been making that are consistent with this stage. Note any possible changes due to recent events.
Evolving priorities: Covid-19 rapidly reshapes consumer behavior. PWC.
Cite Reading:
Consumer Behavior: How people make buying decisions. (2015). Principles of Marketing. University of Minnesota Libraries
