Using the following topics:
1. Supply and demand
2. Gross Domestic Product (GDP)
3. Important principles of Economics
4. Absolute advantage and Comparative advantage
5. Inferior goods
6. Normal goods
7. Bliss point
Write a 4 page essay using a combination of different online resources about the topics listed above. Please include a works cited page (Does not count towards the 4 pages).
You will need to showcase an understanding of marketing issues related to consumer behaviour such as attitudes, group influences, culture, social class, consumer learning processes, and personal buying decision-making processes.
– The Task: Based on the scenario below, you are required to write a 2000-word report. In this report, you must demonstrate an understanding and application of various consumer behaviour concepts and
theories by analysing the facts gathered from the video and the survey, and present strategic recommendations. You will be required to incorporate recent peer-reviewed literature in order to justify
your proposed recommendations.
– Scenario: Imagine that you have just been employed by the company of your chosen FMCG product (which is a Concealer) that you analysed in your earlier assessments (which are attached below). You have recently learnt that the company’s customer loyalty has declined over the last year and that repeat purchases are at a historic low. You have now been asked to prepare a report in which you must critically analyse the company’s current marketing strategy and marketing communication mix and its alignment to your findings in assessment 1 and 2 (which are attached below). More specifically, you will need to determine if identified consumer behavioural factors in previous assessments align with the company’s current marketing focus. Based on your analysis, you are also required to provide at least three strategic recommendations to the board of directors, along with reasons for recommending further improvements, all of which must be based on scholarly sources.
The paper is to be presented in a professional report format and cannot exceed 2000 words. In all of the responses, whilst your views are important and must be shared, you must cite consumer behaviour theory to support your position. Your report MUST follow this professional structure:
– Table of Contents
– Table of Figures (optional)
– Executive Summary (1 page long, no more or less)
– Selected FMCG Product Overview (250 words)
– Critical Analysis (1150 words)
– Strategic Recommendations (600 words) that are logical and feasible.
– Appendices (optional)
– Reference List (You MUST use Harvard Referencing Style)
*NB: Title page, Table of Contents, Table of Figures, Executive Summary, Reference List &
Appendices do not count towards the word limit of your analysis
**You must use a minimum of 15 references.