Reference no: EM133502132

Assignment:

To demonstrate you understanding of key concepts throughout the course

Instructions:

You will work with a partner for this course-long project.

Visit a retail business that you are not familiar with and describe (by observing and participating in) the shopping experience that the business is trying to achieve.

You should be able to accomplish this by answering the questions below. The project will require that you seek input from secondary research sources - Consumer Behaviour articles, websites, books.

In your evaluation, you must include a description of the store such as location, layout, lighting, signage, sound, scent, overall attractiveness, cleanliness, mood and staff should be included here. You must include a map of the location, in reference to other points of interest or competition, and a floor plan layout. Be sure to include consumer behaviour and/or marketing terms that have been covered in class.

Once you have described the experience, answer the following:

1. What is the store's name?
2. What is the nature of the business? What does it do? (describe in detail)
3. What store image is the business trying to create? What is its position within the marketplace? (compete in what segment)
4. Construct a perceptual map of this business and its competitors. Pick any two criteria to use (such as price vs. quality, performance vs. brand). Use at least five competitors.
5. Describe the business's product mix (other products) and product lines (relevant products).
6. What category of products would this business fit into? (convenience, shopping, specialty, emergency).
7. Does this business create synergy within all of its marketing mix variables (price, promotion and place)? Explain.
8. How would you describe the target market for this business?
9. Which demographic factors are most relevant for developing a marketing strategy for this particular business? Why?
10. What VALS (value and lifestyles) segment do you think would be the best market for the products that this business sells? Why?
11. Describe the decision-making process that a typical consumer would use with respect to this product? What are the marketing implications of this?
12. What information sources is a consumer likely to use regarding the purchase of a product from this business?
13. Who is involved in the purchased decision for the products that are sold in this business?
14. What evaluative criteria do consumers use in purchasing the products? Do these ever change? Why/why not?
15. Who influences the decision to purchase these products?
16. How do you think consumers choose from among the brands in their consideration set?
17. What risks are associated with purchasing and consuming the products that are available from this business? What can be done to minimize these risks?
18. What motivates the business's target audience to purchase their products?
19. What non-verbal communication factors are important to the atmosphere of this store?
20. What are your thoughts/opinions of the particular experience?
21. What could the business do to improve the shopping experience? Be sure to follow up your recommendations with "Why".