Consumer Behavior Business & Marketing Coursework Paper (Coursework Sample)

Consumer Behavior
Student’s Name
Course/Code
Professor’s Name
University
City, State
Date
Consumer Behaviors
Introduction
Netflix is an innovative company that has established itself in providing streaming services. In the current competitive business environment and when people are in varied forms of lockdown with no alternative source of entertainment, Netflix should develop an effective marketing mix to help identify their weaknesses and strengths. Learning on the factors that influence consumer decision making is imperative for the company to help in producing products that meet their needs. The decision-making process is integral as it will guide Netflix to determine an effective marketing tool. The products that they develop needs to achieve the needs of consumers, services are cheaper, differentiated, and of high quality for the entity to continue attracting more consumers. As noted, the marketing strategy that Netflix develops should focus on convenience, accessibility, costs, and effectiveness to reach the intended target consumer.
The Objectives
The objective of the paper is to understand the external factors that affect consumer decision making to help formulate effective interventions for Netflix. Assessment of the economic factors, social-cultural, and political factors plays a role in helping the company to develop an effective strategy to help the customer purchase the company's services. Also, the study seeks to explain the process that consumers use to make decisions, which will help Netflix to help consumers make their decision to purchase their products with ease. Lastly, the evaluation of the marketing mix adopted by Netflix will help guide the company to devise innovative strategies to attract consumers.
External Factors Affecting Consumer Decision-Making
Economic Factors