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Understanding consumer behavior in a global market
Understanding consumer behavior in a global market
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Understanding consumer behavior in a global market
Consumer behavior refers to the actions and decisions made by individuals and households when purchasing goods and services. In a global market, understanding consumer behavior is crucial for businesses as it helps them to effectively target their products to the right audience and make informed decisions about marketing, production, and distribution.
Culture: Culture plays a significant role in shaping consumer behavior. Cultural values, beliefs, and attitudes influence what consumers buy, how much they are willing to spend, and their perception of a product. For example, in some cultures, status symbols and luxury goods are highly valued, while in others, practicality and affordability are more important.
Personal Factors: Personal factors such as age, income, education level, and personality also impact consumer behavior. For instance, young adults may prioritize trendiness and affordability, while older adults may place a higher value on quality and durability. Similarly, individuals with higher incomes may be more likely to purchase luxury goods, while those with lower incomes may focus on finding the best value for their money.
Social Factors: Social factors, such as family, friends, and social groups, also influence consumer behavior. For example, people may rely on the opinions and recommendations of their friends and family members when making purchasing decisions, or they may seek out products that align with their personal beliefs and values.
Psychological Factors: Psychological factors, including motivation, perception, learning, and attitudes, play a key role in consumer behavior. For example, consumers may be motivated by a desire for convenience, a sense of identity, or the desire to fit in with their social group. Their perception of a product is shaped by their prior experiences, the information available to them, and the way the product is marketed.
Economic Factors: Economic factors, such as disposable income and consumer confidence, also play a role in consumer behavior. For instance, during times of economic hardship, consumers may cut back on spending and prioritize necessities over luxury items, while during periods of economic prosperity, they may be more likely to splurge on discretionary items.
Technological Factors: Technological advancements have also had a major impact on consumer behavior in recent years. The growth of e-commerce has made it easier for consumers to purchase goods and services online, while social media and other digital platforms have given consumers access to a wealth of information and reviews about products.
In conclusion, consumer behavior in a global market is influenced by a variety of cultural, personal, social, psychological, economic, and technological factors. Understanding these factors is critical for businesses looking to effectively target their products and make informed decisions about marketing, production, and distribution.
Understanding consumer behavior in a global market
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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