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Homework answers / question archive / BCO225 CONSUMER BEHAVIOUR Task brief & rubrics Task: Strategic Recommendation • • • • Individual assignment

BCO225 CONSUMER BEHAVIOUR Task brief & rubrics Task: Strategic Recommendation • • • • Individual assignment

Business

BCO225 CONSUMER BEHAVIOUR Task brief & rubrics Task: Strategic Recommendation • • • • Individual assignment. The students must make strategic recommendations for the company that has been assigned to them by addressing a brand-new buyer persona. Your document will be outlined in the following structure: o Analysis of the company situation (SWOT) o Analysis of the market environment (PESTLE) o Creation of a new buyer persona – must be different from that of the Mid-term. o Explain and comment on the main behavioral factors driving the purchase decisions of this new persona. o Strategical recommendations: make recommendations on how to strategically approach this persona. Here you may address the areas of consumer behavior that you believe suit best your case – always justify your choices in a proper and academic manner. All the sections should be critically addressed with reference to the knowledge learnt in class plus your own research of the topics. Submission: Week 13 – Sunday 9th May 2021, at 23:59 CEST (via Turn-it-in). Weight: This task is a 60% of your total grade for this subject. Formalities: • • • • • Wordcount: Between 1500 and 2000 words. Cover, Table of Contents, References and Appendix are excluded of the total wordcount. Font: Arial 12,5 pts. Text alignment: Justified. The in-text References and the Bibliography have to be in Harvard’s citation style. It assesses the following learning outcomes: • • Apply theories and models of consumer behavior to the formulation of effective marketing strategy, sales and retail strategies, for marketing or consumer management. Recognize new trends early in the field of analytics and consumer experience. Rubrics Exceptional 90-100 Student demonstrates excellent understanding of key concepts and uses vocabulary in an entirely appropriate manner. Good 80-89 Student demonstrates good understanding of the task and mentions some relevant concepts and demonstrates use of the relevant vocabulary. Fair 70-79 Student understands the task and provides minimum theory and/or some use of vocabulary. Marginal fail 60-69 Student understands the task and attempts to answer the question but does not mention key concepts or uses minimum amount of relevant vocabulary. Application (35%) Student applies fully relevant knowledge from the topics delivered in class, excellently adapting the knowledge to the company explored. Student applies mostly relevant knowledge from the topics delivered in class, adapting the knowledge to the company explored. Student applies some relevant knowledge from the topics delivered in class. Misunderstandings may be evident. Student applies little relevant knowledge from the topics delivered in class. Misunderstandings are evident. Recommendations (35%) Student provides excellent recommendations that are doable and in line with the company’s efforts. Student provides good recommendations that are doable and in line with the company’s efforts. Student provides a fair share of recommendations, although not addressing the company’s needs entirely. Student makes an insufficient attempt at providing the appropriate recommendations and/or these are very limited. Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheck. Student communicates their ideas clearly and concisely, respecting word count, grammar and spellcheck. Student communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some misspelling errors may be evident. Student communicates their ideas in a somewhat unclear and unconcise way. Does not reach or does exceed wordcount excessively and misspelling errors are evident. Knowledge & Understanding (15%) Communication (15%) Consumer Behavior: Doritos Case Contents Doritos target market ................................................................................................................................... 1 Buyer persona ............................................................................................................................................... 2 Customer service .......................................................................................................................................... 2 Learning & Memory in Psychological processes involved in consumer behavior ........................................ 3 References .................................................................................................................................................... 4 Doritos target market In general, Doritos' target market consists of a group of consumers who identify themselves as having an active, adventurous, multisensory and above all highly relational lifestyle. Doritos aims to target consumers who have a high level of involvement with the ability to regularly share with friends, make integration meetings and enjoy unique moments. Doritos is a brand that seeks to participate in this type of event, since its products are focused on belonging to memorable moments with friends and accompanying consumers with delicious snacks capable of joining and ideal for celebrating (McEachern and Carrigan, 2014). In this case, the Doritos brand seeks to be a leading snack brand because it creates memorable experiences and is part of important moments within consumers' lifestyles (Loudon and Bitta, 2000). Doritos also targets a target market that is predominantly gender neutral, but consists of a young audience. The age range for the Doritos brand is between 14 and 40 years old. The Doritos brand does not recognize or discriminate between sectors or social strata, income level or socioeconomic level. However, it does target a population segment that has very well-defined characteristics or consumption habits, such as the regular consumption of snacks, a high preference for tasty snacks and the inclusion of this type of Savory products to attend family gatherings or among friends. Most of Doritos' target consumers are people looking for a tasty, packaged snack to complement lunch, dinner, or simply to share with friends. Buyer persona John Smith is a 25-year-old university student who is studying administration and has a budget of US 700 per month for food and support in the university residence he attends. John usually meets every Friday with his friends to watch soccer, on special occasions like the Super Bowl, the Soccer World Cup or NFL games. To complement these meetings, John includes tasty snacks like Doritos on his shopping list, along with beer and fast food if that's the case. On the other hand, John usually accompanies lunches at the university with snacks to complement foods such as pizza or hamburger. Snacks are an interesting alternative because they are an easy product that does not involve the effort of cooking, and they also make meals more delicious and convenient. Lastly, John is interested in buying snacks that have a wide variety of flavors. For example, he is interested in snacks that have flavors like ranch, spicy, pizza, burgers, jalapeños, and tacos. These types of flavors are very striking when accompanying meals or to share with friends. Customer service Doritos is part of the Pepsico brand conglomerate. These brands are part of the consumer stationery or mass consumption category, so customer service is unusual, knowing that the products of these brands are distributed by retailers, convenience stores, wholesalers, and department stores. However, Doritos has a specialized line of contact focused on assisting customers of the Business-to-Business channel in the purchases and supply contracts assigned to the brand. This line is enabled to solve problems associated with dispatch, delays in inventory orders, inconveniences on service levels, deteriorated inventory, and extended delivery times (Loudon and Bitta, 2000). There is another part of the Doritos line that is willing or specifically established to deal with matters related to the Business to Consumer segment. In this case, the line serves to resolve Frequently Asked Questions, expose the terms of service, clarify the ingredients of the snacks and support end customers (shoppers) with the expansion of the detail of the product's elaboration (Loudon and Bitta, 2000). To improve these instances, it is recommended that Doritos be able to articulate or link the service line of the Business-to-Business channel with a customer relationship system (Customer Relationship Management). The support of these technological systems should be aimed at institutional clients having greater visibility in real time on the status of their orders and the status of their accounts without having to call a telephone number. In addition, with the support of these systems, it is expected that customers can mount orders much easier, configure service levels, mount inventory return requirements and process rebates or sales allowances. In the case of the B2C channel, Doritos must enable a direct line supported by an online service that can offer greater transparency and clarity to customers about the nutritional contribution of the products. In this case, it is recommended to enable different sections on the page with a detailed breakdown on the nutritional content of the snacks and to clarify the ingredients (such as the presence or not of Genetically Modified Organisms, for example) (McEachern and Carrigan, 2014). Finally, the support of the websites should also enable more friendly and intuitive interfaces in which customers can redeem coupons and submit promotional codes found in the packages, and in this way facilitate the success of certain promotional campaigns for the final customer (Loudon and Bitta, 2000). Learning & Memory in Psychological processes involved in consumer behavior The concept of learning refers to a change in the content or organization of long-term memory, which modifies or has an impact on behavior. In learning theory, there are different mechanisms that can trigger learning. One of them is operant conditioning. In this form, human beings learn through a series of events that are instruments or conditions that increase the probability of a certain behavior. In short, a condition or event produces certain consequences. based on the consequence, there is a greater or lesser probability of displaying a final behavior (Sethna and Blythe, 2016). In the case of positive reinforcement, there is a reward or reward for a behavior. In this case, human beings will be more inclined to repeat this type of behavior, since the favorable consequence conditions or produces a result that generates a greater affinity with the behavior that produced it. On the contrary, in the case of punishment, there is a punishment or an unfavorable consequence for a behavior (Sethna and Blythe, 2016). Therefore, people will be less inclined to repeat the behavior that gave rise to this loathing consequence. Finally, in the case of negative reinforcement, we find that people change behavior in order to avoid or take an averse attitude towards an averse stimulus. The consequences of the behavior is ending with an uncomfortable stimulus. In the case of Doritos, we see a recurring example of a positive reinforcement. Doritos has been widely known for its promotional campaigns in which it encourages the purchase of products because with these come promotional codes or coupons with which customers can win prizes. This is the case with the Doritos Late Night NuitBlanche product. The promotional campaign associated with this famous product consists of including a code inside each package. Code redemption awards points or experience to customers (McEachern and Carrigan, 2014). With the accumulation of these codes and points, customers can participate for the Play Station 5 raffle and for the Call of Duty Black Ops Cold War Game. This is a classic case in which the Doritos brand is conditioning a favorable purchasing behavior in its customers. In this case, the purchase is associated with a prize or a chance to win. Naturally, in the face of this award (positive consequence), buyers now have a powerful incentive to buy this Doritos brand product. References Doritos, (2021). Doritos Website. Retrieved from: https://www.doritos.ca/ Loudon, D. and Bitta, A., 2000. Consumer behavior. New York [N.Y., etc.]: McGraw-Hill. McEachern, M. and Carrigan, M., 2014. Contemporary issues in green and ethical marketing. Abingdon, Oxon: Routledge. Sethna, Z. and Blythe, J., 2016. Consumer behaviour. 3rd ed. Los Angeles: Sage.

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