The paper "Consumer Behavior and Independence "is a wonderful example of a Marketing Term Paper. Consumer behavior is a study that touches on almost every aspect of an individual’ s life. From the time an individual wakes up, brushes their teeth (most probably with the same Colgate toothpaste used by the parents and family members when growing up); and breakfast eating in their favorite Kellogg’ s cereal; to the time they go to sleep, that is, after setting the alarm on their Sony radio (Hayden, 2009). In this report, we are going to use a hypothetical case of the Monster Energy drink customer whom we are going to call George.
George is a college student aged 22-years-old who is a full-time student, but works part-time. Like most energy drink consumers, he has an open mind and likes trying new things. Furthermore, he tends to adopt new products while in their life cycle. However, like most young consumers, not employed full-time, he was not in a position to buy the products often yet he craves for it (Karded, Cronley & Cline, 2014). Consumers acquire an item and use it in some manner.
For the case of George, he uses it to boost his energy levels when it comes to day-to-day activities. Therefore, his energy drink is consumed in one use and this influences the behavior of others (Hayden, 2009, p. 12). Satisfied consumers like George give positive reviews of the product and thus, encourage others to adopt it. Thereafter, consumer behavior gives focus to what occurs after the consumer uses the product. In the case of George’ s Monster Energy Drink, Monster Beverage Corporation invests a huge sum of money on the production and puts into consideration the element of recycling the end product.
As such, there are consumers who relate to environmental sustainability efforts. Hence, these consumers identify with these companies and they are most likely to purchase their products (Hayden, 2009, p. 13). This report looks at the external factors that influence and impact the decision-making process of consumers concerning Monster Energy Drink. Reference groups are also investigated, and their impacts when it comes to consumer decision-making processes are also observed. Family life cycles are also relevant in this case, and we are going to look at the dynamics of the husband-wife decision-making process.
Monster Energy Drink is the product chosen for this study, and it is important to understand whether it is for affluent or non-affluent consumers. Social class categories are also discussed and possible strategies of segmentation need to be identified for the markets (affluent/non-affluent). Another section observed in the report is the relevance of culture and core values. The social categories under investigation are mobility, affluent consumer, middle-class consumers and non-affluent.
Since it is an Australian study, the core values that impact on the culture of shopping patterns in the country are put into consideration. Subculture is also a relevant aspect considered in consumer behavior studies that include Generation Y/Generation X/Baby Boomers/Elderly consumers. A view of consumer decision-making is vital for this study because it answers the question under investigation. In addition, the opinion leader’ s relevance with regard to the product chosen is noted. Also, the importance of innovativeness is discussed, in detail, to give the reader a clear view of aspects introduced in the paper.
Lastly, public policy, legislation, advertising, pricing, and consumer ethics are also discussed in this study. After all the above issues are stipulated, a conclusion is given to enable the reader to catch on the most important points concerning consumer behavior.
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