Write a formal research report on the following topic:
Present your research report by addressing the following:
- Describe and explain THREE (3) reasons why marketers need to develop techniques or strategies that deal with how consumers behave (in satisfying their needs and wants). You must refer to the compulsory article by Clemons and other relevant sources.
- Describe THREE (3) techniques or strategies that marketers can apply in response to how consumers behave. You must refer to Clemons and other relevant sources.
- Define ‘Portfolio Analysis’ and ‘Market-product Analysis’ and explain how these can affect the ways marketers respond to consumer behaviour. Refer to at least two sources.
- Recommend one way that marketers should respond to consumer behaviour. This should be based on your INFORMED opinion, so provide a reason for this recommendation. Your opinion must derive from your research, so citing a source would be beneficial.
Clemons, EK 2008, ‘How information changes consumer behaviour and how consumer behaviour determines corporate strategy’, Journal of management information systems, Fall, vol. 25, no. 2, pp. 13 -40. Academic Search Complete (AN 34879420).
McDermott, J 2013, ‘Blackberry is no longer just for the suits’, Advertising Age, Feb. 11, vol. 84, no. 6, p. 20. Academic Search Complete (AN 34879420).