Discuss multi-cultural marketing strategies

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Reference no: EM131888825

Assignment 3: Analysis of External Influences on Consumer Behaviour

In this module, you have explored a variety of external influences (factors) on consumer behaviour. In this assignment, you will apply what you have learned by investigating and analyzing the external factors/influences discussed on consumer behaviour to practical marketing situations.

Instructions: You will continue to focus on your chosen product and market for the course. In this assignment, you will examine various aspects of external influences/factors and their implication to a marketer. Follow the specific instructions to each part of the assignment and complete all sections as required.

Prepare a 10-12-page doubled-spaced report containing the following.

Section 1: Cultural and Value Analysis

In this section, you will conduct a cultural and value analysis of your product by answering the following questions.

1. Focusing on your chosen product, answer the following.

a. Find two different print advertisements for your chosen product in two magazines that are targetted to different audiences. Provide the URL, a scan, screen capture, or other visual for each.

b. For each advertisement, analyze the contents in terms of the written and pictorial aspects, utilizing the core values discussed in this module (and in Chapter 9 of your textbook).

c. How are these values portrayed to the target audience?

Focusing on your chosen product, produce an analysis of cultural influences by answering the following questions.

2. Identify the core values most relevant to the purchase and use of your product.

a. Determine whether these values encourage or discourage use or ownership.

b. Discuss whether these core values are shifting upward, or downward.

c. Create a print advertisement for your product. (The result is not expected to be of publishable quality; just do your best.) Show how you would use your knowledge of cultural values to develop an advertising message. How would you portray these values to your target audience?

d. What symbols would you use in your advertisements? Discuss their effectiveness in conveying the desired product image or characteristics.

Section 2: Subculture and Social Class Analysis

1. Discuss multi-cultural marketing strategies that you would use to market your product that would successfully target consumers in several different racio-ethnic subcultures?

2. Identify two other subcultures and discuss various strategies you would apply to reach specific groups in your target market.

3. What is the significance of social class to you as a marketer? How would the difference in social class influence the marketing of your chosen product in terms of the following?

a. Product lines and styles

b. Advertising media selection

c. The copy and communication style used in advertisement

d. Payment policy

Section 3: Analysis of Reference Groups and Family

1. With your chosen product in mind, who would your target market consider their reference groups?

2. Consider choosing a superstar or celebrity to promote your chosen product. Who would that be? Discuss the reference group factors that you would raise when negotiating the hiring contract with the superstar or celebrity.

Section 4: Analysis of Consumer Influences and the Diffusion of Innovation

Why is an opinion leader a more credible source of product information than an advertisement for the same product? Are there any circumstances where information from advertisements is likely to be more influential than word of mouth?

Section 5: Virtual Communities

1. Visit and provide the URL of a virtual site where loyal customers of your chosen product help one another to evaluate the quality of choices in the marketplace.

2. How are these virtual communities shaking up the ways businesses are operating?

3. For your chosen product, provide recommendations for a promotional campaign.

Completion Guidelines: Submit your assignment by uploading it in the Assignments area of your course Home Page. Be sure to save your assignment as a Word document and name it: MKTG3471_Lastname_Assign3.

Reminders before submitting assignment:

• Did you put your name and student number on the front page of the document?

• Did you complete all of the required elements?

• Did you use information and terminology learned in this course?

• Did you support your statements with specific examples?

• Did you cite references, using correct APA referencing format?

• Did you ensure that there are no spelling mistakes?

• Is your report grammatically correct, clear, and well organized?

Reference no: EM131888825

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