Learning Guide Unit 2

Portfolio Activity

  1. Read the article: “Exploring Factors That Influence Consumer Loyalty to Automobile Dealerships in New York.”and then perform the following:
  • Provide some customer retention strategies which benefits organizations
  • What actions are involved before the final decision to buy or consume a product and services?
  1. Using what you have learned in Units 1 & 2, consider your own behavior as a buyer. Think about the kinds of things that move you to make purchases, large and small and then answer the following:
  • Before making a major purchase, what types of data do you gather?

Answer: I compare pricing and select product based on reputation/trustworthy brand

  • What types of data are most compelling to you? Do you buy impulsively?

Answer: I do not buy impulsively on high end items, but I will for low cost items

  • If so, what type of products do you buy impulsively?

Answer: Clothes, shoes, and food

  • Are there ways in which you want to improve your own consumer behavior?

Answer: Not to purchase any low cost items unless I need it

The Portfolio Assignment entry should be a minimum of 500 words and not more than 700 words. Use APA citations and references if you use ideas from the readings or other sources. This assignment is graded by the instructor.

All course textbooks are accessible through the course’s main page.

  1. The University of Minnisota. (2010). Principles of marketing.Licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0.
  • Chapter 3 – Consumer Behavior: How People Make Buying Decisions.In this chapter, students will learn about the factors that influences consumer behaviors. Students will explore the purchasing decision process including the five-stage model
  1. Akaeze, C., & Akaeze, N. (2017). Exploring Factors That Influence Consumer Loyalty to Automobile Dealerships in New York.  Journal of Business Theory and Practice5(6), 35–47. dOI:10.22158/jbtp.v5n2p98 Retrieved from https://www.researchgate.net/publication/316320629_Exploring_Factors_That_Influence_Consumer_Loyalty_to_Automobile_Dealerships_in_New_York
  2. Courtright, M., Courtright, M., Courtright, M., Melanie, & EVP of Research Science and Data Strategy. (2019, July 25). The “Why” Behind the Buy: Integrating Consumer Behavior into Your Marketing Strategy. Retrieved from https://www.ama.org/2019/05/20/the-why-behind-the-buy-integrating-consumer-behavior-into-your-marketing-strategy/.

 

Optional Videos

  1. Frankfurt School of Finance & Management. (2016, November 4). The importance of studying consumer behavior. Retrieved from https://youtu.be/v1q1nnPCcKw
  • This video details the explanation on impulse purchasing
  1. Mapscu. (2016, January 5). Impulse buying. Retrieved from https://www.youtube.com/watch?v=FY6pCHkeED4&feature=youtu.be
  • This short animated video talks about impulse buying.