Reference no: EM131441505
First Written Submission Option: Consumer Behaviour
Assume that there are two households in the same suburb as described below:
a) A second generation Chinese family with three children aged 8, 10 and 16. Both parents work full time in professional roles, and have an annual household income of $235,000. The children attend a local private school, and they are able to take an overseas trip at least once a year. They have only lived in the same house for 10 years, having moved there when their eldest started school.
b) A couple aged in their late 60s, who despite owning their own home, are reliant on the government pension for their daily living expenses. They try to remain up to date with technology in order to keep in contact with their adult children, both of whom live in another state or overseas. This is because the couple are not able to travel very often to see their family. They are also very active in their local community having lived in the same house for over 30 years.
Exercise: Develop a short presentation (no more than 6 slides) to show the following:
a) The lifestyle of each household - consider the cultural, social and personal factors in building this profile
b) Using the Buyer Decision Process in Figure 5.4 show how each household would go about deciding on the purchase of a new car. Make sure you include enough details to clearly identify any differences between the two households.
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