Consumer Psychology Assignment, Survey Sample And Analysis On Consumer Behaviour And Psychology

Question

Task: How can consumer psychology assignment use survey sample and analysis to determine consumer behaviour therefore allowing for improved product development

Answer

Overview
This consumer psychology assignmenthas been done on the basis of a survey which has been conducted to understand the consumer behavior and the psychology behind purchasing and consuming nay product or service. I have purchased a Strawberry Watermelon health drink from PERKii which is a healthy energy drink. A probiotic drink which increases freshness and eliminates tiredness from body (Woolworths, 2020). The study has beenundertaken and the data collected would be analyzed to have an understanding of the concepts related to consumerbehavior and analysis (Hollebeek, Conduit &Brodie, 2016).

The consumer psychology assignmentsurveygoal
The consumer psychology assignmentsurvey has been undertaken for the purpose of exploring various factors which impacts the behavior of the customer and make them react while taking decisions for purchasing the product (Stephen, 2016). It would provide answers regarding the purchase of energy drink by PERKii that how it added valie to the life, what factors led to the purchase of products. What were the external influencers which helped in taking thedecision to purchase the product and Did the consumer changed decision on after going through the reviews of peers. The customer survey will take place with a sample of 15 respondents who are the customers of aStrawberry Watermelon health drink from PERKiiand there will be 10 questions in the survey to take decisions on thesurvey objective.

Explanation for administration process
The customer survey for this consumer psychology assignmenthas been takenplace on the customers of a Strawberry Watermelon health drink from PERKiiThis product is been assumed to give instant energy to the customers and it I also a healthy product. As per the survey, 15 customers of the product will be chosen randomly, and survey will be distributed on their email ids. The people who purchase health drinks from online stores has been contacted by going through the reviews on the online stores and they were asked to fill the survey through their emails. The people has been selected randomly which means that every customer of the PERKii drink has equal chance of being selected for the survey. This was the best way to get the responses because these people have experienced the use of health energy drinks and this can get better data for the survey and the assignment. The objectives of the survey include:

• To explore the factors which influence the decisions of the customers to purchase a Strawberry Watermelon health drink from PERKii
• To know if external influencers have effect on the buying decisions of the customers
• To explore the attributes of the product which led the customers chose this product out of several other products.

This survey will help in administrating and analysing the customer behaviour while purchasing health energy drinks and would explore that what all factors can alter their decisions and behaviour.

Data analysis
The data collected form customer survey for this consumer psychology assignmenthas been analysed to meet the objectives of the survey. The first questions ask about who the primary decision ismaking in the household of the buyer. This question shows that how much control buyer has on the buying decisions and does anyone else influence these decisions of the buyer or not. So, 73% of the respondents said Yes, they take major decision in the household and 27 said No, they are not primary decision maker in their household. This shows that the customers we are surveying are capable enough to take the decisions. The second question is about how customers came to know about the PERKii watermelon drink and most of the respondents i.e. 53% (8) cam to know about the drink from family, relatives and friends, 6% of them has seen it on Internet commercials and posts while only 3% saw it in TV commercials. This shows that word of mouth has strong influence and people get to know so much about different products and brands from the word of mouth (Victor, et al, 2018). Also, no respondent has seen it in newspaper which shows that these consumer products are not very visual and attract people in the print media. This meet my thoughts; I also think that these kinds of products are mostly popular among youth and family which can be made popular through word of mouth. The 3rd question is about the importance of brand and the respondents are asked whether they consider brands while making a purchase and to my surprise only 26% of the people said Always. I used to think that everyone considers brands while making a purchase but most of the respondents in the survey which are 33% said that they usually consider it but not always. Also, there was no one who said that they never consider brand.

The 4thquestion of the survey focussed on meeting the needs of people. It asked respondents whether the products availablein market fulfill their needs and 53% of the respondents said yes which shows that the respondents are satisfied about their products and their usage.

The 5th question was about form where the purchase of health rinks is made by the customers and 87% of the respondents purchase it from online retailers. This is very surprising that online stores are gaining so much of importance these days. Also, one more fact I realised that new brands and products are promoted through these online stores which are given either free with the orders made or promoted on their websites which attracts most of the customers. Only 27% of the customer purchase it from the official site of PERKii drink.

The 6th question is having people researched about the drink before purchasing it and 86% of the people said yes. It is verysurprising that even for a small product like a health drink, people have become so aware that they research about it and then purchase (Auf, et. al. 2018).The modern customer is not easy to be fooled. They analyse everything and the available options and after the proper analysis, they purchase products be it a big electronic product or a small product like health drink.

The next question was about which feature of the PERKii watermelon health drink pleased customers the most so that they bought it and 80% of the customers bought it not because it is healthy but because it is tasty which shows that although the drink is promoted as a healthy drink but its taste is getting more customers. Also, the brand name attached to it make people sure about its quality. This shows that the brand name is especially important while purchasing a product. Eighth question was about what payment method has been used by the customers to but PERKii watermelon health drink and60% ofthem have used wallets for purchasingthedrink and only 40% has used cash. This might also eb because wallets provide different offers and discounts on the purchase of the products (Nguyen, de Leeuw and Dullaert, 2018). Also, they are extremely easy to use, and cash is not extremely easy to carry these days. The preferences for the payment methods has been changed in the recent years from offline to online.

Ninth question of this consumer psychology assignmentwas based on the budget of the customer. It asked that if customer has been given a higher budget, would he/she like to purchase a better brand and an expensive drink than PERKii watermelon health drink and most of the customers i.e. 67% said they would definitely do that. It means that people limit their practice and type of product as pe their budget. So, budget of a consumer plays an important part in their purchase. The last question of the survey asked whether the customers would like to recommend the drink to others and 93% said Yes which means that the product is good and worth using which the customers have been agreed to recommend it to others. Key findings identified on this consumer psychology assignment It has been found that the survey has provided important insights ifthe consumer behaviour and different factors which affect the decisions of the consumers. The survey has shown that the taste matters whether it is healthy or not and people still prefer taste more than the health factor of the drink. Also, the customers have purchased PERKii watermelon health drink though online stores for which they have heard from the friends andfamily. Also, some of the customers heard about the same on the online platforms. The survey has shown that the external influences like the word of mouth reviews and other options available impacts the buying decisions of the customer. The factors like budget of a customer and features of the product also affect he decisions of the customer to buy the particular product.

It is also found on this consumer psychology assignmentthat online stores have gained, much popularity and people prefer online stores rather than physical stores to buy products. People also started using Wallets for payment instead of cash payments which shows the change in the payment too. It has become clear that people buy PERKii watermelon health drink because it is tasty, within budget and easily available on websites and online stores.

Reefrences
Auf, M.A.A., Meddour, H., Saoula, O. and Majid, A.H.A., 2018. Consumer buying behaviour: the roles of price, motivation, perceived culture importance, and religious orientation. Journal of Business and Retail Management Research, consumer psychology assignment12(4).

Hollebeek, L., Conduit, J. & Brodie, R., 2016. Strategic drivers, anticipated and unanticipated outcomes of customer engagement. Journal of Marketing Management, 32(5-6), pp. 393-398. Nguyen, D.H., de Leeuw, S. and Dullaert, W.E., 2018. Consumer behaviour and order fulfilment in online retailing: a systematic review. International Journal of Management Reviews, 20(2), pp.255-276.
Stephen, A., 2016. The role of digital and social media marketing in consumer behavior. Current Opinion in Psychology, 10(2), pp. 17-21.
Surveymonkey, 2020. Log in to your account. [Online] Available at: https://www.surveymonkey.com/analyze/u3i5G7ODlgtTIlsLfIV5FLjw2Wpjx1aZDco9NjgrQjw_3D?tab_clicked=1
[Accessed 19 May 2020].

Victor, V., Joy Thoppan, J., Jeyakumar Nathan, R. and Farkas Maria, F., 2018. Factors influencing consumer behavior and prospective purchase decisions in a dynamic pricing environment—An exploratory factor analysis approach. Social Sciences, consumer psychology assignment7(9), p.153.

Woolworths. 2020. Perkii Strawberry Watermelon Probiotic Drink 350ml. Retrieved from https://www.woolworths.com.au/shop/productdetails/685790/perkii-strawberry-watermelon-probiotic-drink

Appendix
Question 1

Appendix-Question-1-in-consumer-psychology-assignment