MRKT 310 Week 3 (UMUC)

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MRKT 310 Week 3 (UMUC)

1. Consumer behavior Model: Environmental Factors: Two environmental factors that are relevant to customers buying diet coke are price of the offering and brand. The price of the offering is important to the customers because a raise in the price of diet coke could affect consumer behavior.  For example if coca cola should raise the price of diet coke, they run the risk of turning off the customer especially for a  customer who  has a choice of getting the same offering or similar offering from a competitor at a lower price. On the other hand, raising the price could have no effect at all because some customers equate a high price with a superior-quality product and top brand. The brand of the offering is another important factor for a customer because a known and trusted brand is at the heart of many consumers. A customer builds a relationship with a brand based on their experience.  A customer’s favorable experiences form strong emotional bonds that convert diet coke into their brand preference. This allows coca cola to rely on emotional appeal for their advertisement.

2. Consumer Behavior Model: