Consumer behaviour
Question 1
Seismic changes in consumer behaviour has affected the food industry. These changes include technology, communication, business and society (Solomon, 2014). Modern societies have different cultures, configurations, and life choices that affect their choice of food. An American study revealed a shrinking family size and declining traditional gender responsibilities and the profound effects on consumer behaviour (Solomon, 2014). Communication has increased awareness on the subject of nutrition. This trend has changed consumer perception and attitudes towards some foods. Technology has increased openings through which companies can reach out to consumers. In the prevailing digital environment, companies that embrace technology are likely to succeed. Business in the global economic reality has changed. Business that target the middle class are likely to prosper due to the purchasing power of this market segment.
Question 2
The digital environment has brought significant revolution in the consumer behaviour. Modern businesses use various digital platforms such as social media, blogs and wikis to communicate to consumers about promotions, prices and new products. These businesses rely on the research that shows that 62% of people between 18 and 34 years use smartphones to access social media sites (Juster, 2015). Coincidentally, the middle class segment falls in this age bracket. The growing middle class in most economies is sensitive to businesses that use technology to pass information.
Question 3
Consumers in the current economic and business environment is very dynamic and informed. The technological environment has brought information within the reach of consumers. Before consumers make a decision on what products to buy, they seek information about the product in the internet (Chiu et al., 2014). The information found may influence the attitude of consumers towards some products and services.
Question 4
The theories of consumer behaviour emphasize on the satisfaction level of a consumer based on the quantity of product purchased. The utility theory states that consumers’ level of satisfaction decreases with increase in the quantity of good utilized (Juster, 2014). The prevailing visual media has also changed consumer behaviour through colourful advertisements. Consumers derive information on products by utilizing various blogs that feature content of products or services.
References
Chiu, C. Y., Kwan, L. Y. Y., Li, D., Peng, L., & Peng, S. (2014). Culture and Consumer
Behavior. Foundations and Trends (R) in Marketing, 7(2), 109-179.
Juster, F. T. (2015). Anticipations and purchases: An analysis of consumer behavior.
Princeton University Press.
Solomon, M. R. (2014). Consumer behavior: buying, having, and being. Engelwood Cliffs,
NJ: Prentice Hall.
