Choose a product or a product category.

You may use the same productProduct Name: Nike Air MaxProduct Category: Athletic Footwear as in your earlier assignment, conduct the following analysis:

1. Analysis of External Influences (Factors) on Consumer Behaviour In this assignment, you will examine various aspects of external influences/factors and their implication to a marketer. You will continue to focus on your chosen product and market for the course. i. Cultural and Value Analysis In this section, you will conduct a cultural and value analysis of your product by answering the following questions: - a. Find two different print advertisements for your chosen product in two magazines that are targeted to different audiences. Provide the URL, a scan, screen capture, or other visual for each. b. For each advertisement, analyse the contents in terms of the written and pictorial aspects from the core values perspective. c. Focusing on your chosen product, produce an analysis of cultural influences by answering the following questions: - Identify the core values most relevant to the purchase and use of your product. Determine whether these values encourage or discourage use or ownership. Discuss whether these core values are shifting upward, or downward.

ii. Subculture and Social Class Analysis a. Discuss multi-cultural marketing strategies that you would use to market your product that would successfully target consumers in several different racio-ethnic subcultures. b. Identify two other subcultures and discuss various strategies you would apply to reach specific groups in your target market. c. Explain the significance of social class to you as a marketer. Describe the ways the difference in social class can influence the marketing of your chosen product in terms of the following: - Product lines and styles Advertising media selection The copy and communication style used in advertisement Payment policy

iii. Analysis of Reference Groups and Family a. With your chosen product in mind, determine the target market that may be considered their reference groups. b. Consider choosing a superstar or celebrity to promote your chosen product. Discuss the reference group factors that you would raise when negotiating the hiring contract with the superstar or celebrity.

iv. Analysis of Consumer Influences and Diffusion of Innovation a. Determine the reason an opinion leader is a more credible source of product information than an advertisement for the same product. b. Determine if there are any circumstances where information from advertisements is likely to be more influential than word of mouth.

2. Influencing purchase decisions The consumers decision whether to purchase a product is an important moment for most marketers since it denotes whether a marketing strategy has been effective or missed the mark and whether a marketing plan has been successful. i. Consumer Decision Making Process a. Identify the specific characteristics of your product that would make intensive pre-purchase search likely. b. Using your chosen product, investigate the various types and sources of information available to a consumer. Determine the ways a marketer to improve the types of information and sources of information available to potential customers for pre-purchase searches c. Demonstrate your understanding by identifying brands within your product category and classifying them into your own evoked set, inept set, and inert set. As a marketer determine the strategies would you use in an attempt to place a product in a consumer evoked set after it has already been rejected.

ii. Consumer Decision Process Outcome a. Outline the steps you will use to manage consumer dissatisfaction and provide positive reinforcement to consumers after the purchase of your product to reduce their dissonance. b. Describe how you will determine whether a consumer is satisfied with your product and whether there will be a repeat purchase