Answer To: 1 Assessment Type: Individual report Word limit: 2500 (+/– 10%) Due date: Thursday of Week 7, 23:59...
Dilpreet answered on Oct 09 2021
ASSESSMENT 3: CONSUMER BEHAVIOUR REPORT
Table of Contents
Introduction 3
External Influences 3
Internal Influences 6
Marketing Strategy 8
Upholding the Position of the Product 8
Conclusion 9
References 10
Introduction
In the global business environment, survival of businesses is based primarily on their customer base and the profits they make. In such situations, it has become essential for business organisations to understand and follow the choices, preferences and behaviour of the consumers and develop products and services according to the choices and preferences of the customers. In addition to this, organisations are also focused on coming with products that are beneficial for the society and value to it so that they can create a positive image among the consumers by fulfilling their corporate social responsibility (Sethna & Blythe, 2016). The concept of consumer behaviour takes into consideration the social, psychological and economic behaviour of the consumers. It is a clearly understood fact that for organisations to position themselves in the market or to come up with product differentiation strategies it is essential to assess and understand the behaviour of the consumers in the target market. Through this report, an effort has been made to analyse the disruption caused by latest technologies like drones, and the way these have been effectively leading businesses to prosper rapidly and efficiently. This report will further analyse the internal and external influences that have been affecting the drone industry. The report will further discuss about the marketing strategy and will provide suitable recommendations to the marketers about this product.
External Influences
Group and Interpersonal Influence
With the emergence of new technologies and their advantages, technology and gadget freak customers are keen to use these technology-based products and services to make their lives easier and simpler. As the market is flooded with such technology-based products, competition in the market has increased and therefore, making it essential for firms to study and analyse both internal and external business environment (Munizu & Pono, 2019). Considering the Australian market, it can be stated that the market has huge potential to grow in domains of agriculture and health. Therefore, drones can be used in these domains to improve the efficiency of the work being done in a cost-effective manner. Furthermore, many online shopping stores and companies are making use of these drones to deliver products exactly at the doorsteps of the customers. As far as the behaviour of the consumers is to be considered in the market segments being captured by technology like drones, it can be inferred that people living in the urban areas mostly shop from online sores and therefore, people living in Melbourne, Sydney, Victoria and Perth can be targeted by this technology.
Reference groups are defined as the individuals or groups that are capable of influencing the attitude, behaviour, beliefs and opinions of other consumers in the market. These groups often serve as role models and inspiration for others (Bujari, 2017). From the marketing viewpoint, reference groups are essential they influence the buying behaviour of the consumers and have a huge impact on the way these consumers interpret the information, which is being provided. Considering the use of drones as a method of delivery in the modern times, the reference groups that are most likely to influence this segment is the technology freak younger generation, who make excessive use of their smart phones and internet connection to make their lives simpler and easier. These reference groups often influence other to rely on technology and innovation and move from offline brick and mortar stores to online e-commerce websites, therefore, creating an effective competitive advantage for the e-commerce companies. Other reference group that has a huge influence on the buying behaviour of the consumers in this era of pandemic is the healthcare providers, who have been convincing masses that online shopping and delivery from drones can help them stay safe and protected.
People belonging to the younger generation are likely to influence their parents, other members of their family and their friends by making them understand that relying on technology and innovation and can make their lives easier and faster. Since, these people have mostly made use of the technologies available in the market they try to convince others by sharing their personal experiences and therefore, have a huge influence on the buying behaviour of their families and friends. Moreover, as the usage of drones is likely to reduce the costs of products being delivered, this can act as a major factor of influence. As far as the impact of healthcare providers is to be considered, on the buying decisions of the customers, they are likely to prefer mostly online deliveries due to the prevailing conditions of the pandemic. Therefore, giving a boost to the drone industry, as other companies are likely to buy more number of drones to speed up their delivery process and optimise the cost of operations they have been performing so far. If one member of the family has a positive experience or if one person in the friend circle has enjoyed a positive experience with this technology, they are most likely to influence others in their technology to do the same (Nolcheska, 2017).
Role of Situational Influence
The companies have been able to understand and analyse the changing needs of the people and therefore, have been making a move forward to fulfil the changing...