Consumer Behavior Report for Historic Landscape - MyAssignmenthelp

Question: Discuss about theConsumer Behavior Report for Historic Urban Landscape. Answer: The second respondent strongly agrees that he is careful and efficient and disagree that he is moody. Besides he considers himself average based on extraversion, open to experience and sympathetic and kind to others. According to his response, the second respondent falls under conscientiousness, extraversion and open to new experience. People belonging to openness to new experience personality traits are characterized by various factors such as a strong imagination; they tend to appreciate beauty, willing to explore new avenues and possess intellectual curiosity (Ashton, 2013). These characteristics play a significant role in influencing his decision to allocate a lower score to rent as opposed to other evaluative criteria in his first response. Also, his appreciation for art and beauty influences his decision to rate option 1 as very good regarding bedroom, bathroom and kitchen, parking, renovation and furnishing and distance from the city center except for the rent as a factor whic h is rated average. Conscientiousness personality trait is characterized by attributes such as competence, order, dutifulness, achievement, self-discipline and deliberation which influence his decision to allocate distance from the city a higher score and rank option 4 as his choice of property to rent. In addition, the first respondent can be classified under extraversion which is attributed to warmth, assertiveness, excitement and positive emotions. This personality trait influences his decision to let the daughter make the decision to purchase the property. Respondent 4 The fourth respondent is a male student whose occupation is a plumber with a family household pretax income of $128,900. The respondent strongly believes that he is an extroverted individual, sympathetic and kindness to others and open to new experiences. However, the respondent strongly disagrees that he is moody, careful and efficient. According to personality theory, the respondent falls under extraversion, openness to new experience, consciousness and agreeableness. This respondent is considered as open to new experiences because he disregards the distance from the city center by allocating it a lower score. His aesthetic value plays a significant role in influencing his decision to allocate bathroom and kitchen, rent and renovation and furnishing a higher score. The respondent is also considered as an extroverted person because he leads and dominates the social situation where he works as a plumber, studies and makes enough income as well as forming close attachments by choosing option 3 where the kitchen and bathroom is shared with housemates (Strelau Eysenck, 1987). The respondent can be classified under agreeableness whereby he allows his partner to make a decision regarding renting the house based on trust as an attribute of agreeableness. He is also a conscientiousness person as he evaluates his options and rates option 4 as average based on all criteria. And ranks option 3 as his option. Respondent 5 The fifth respondent is an American male aged 59 years who works as an accountant and is married with a family household pretax income of $117,800.The respondent strongly considers himself as a sympathetic and kind to others, careful and efficient while giving himself an average score of open to new experience and strongly disagrees that he is a moody person and extraverted. Based on personality traits, the respondent is considered as agreeableness, conscientiousness and open to new experiences. Conscientiousness is a personality with several attributes that influence his decision to allocate rent and distance from the city a higher score based on attributes such as deliberation, self-discipline and dutifulness and order (Mowen, 2013). The respondent also has a strong appreciation of art and beauty which is an attribute of openness to experience because it influences his decision to rate option 1 with a higher score with regards to the bedroom, bathroom and kitchen, parking and renov ation and furnishing. In addition, the respondent ranks option 5 as his chosen option based on willingness to explore new places since he already considers the distance from the city as an important factor although he goes ahead to choose option 5 which is far from all the options. The respondent can also be considered to fall under agreeableness as a result of letting her wife make the decision regarding renting of the property (Behavior Genetic Approaches in Behavioral Medicine. (1995). Theory of Family Situation in Consumer Behavior Theories of demographic are classified under various variables such as age gender, marital status, family life, income, occupation, education and ethnicity. When considering the family situation, the theory of the law of diminishing marginal utility influences consumer behavior suggesting that if an individual increases consumption of a particular product while keeping other options constant, the marginal utility decreases. This theory influences respondent 2 to choose option two as his choice although there are other better options. The law of diminishing marginal utility influences respondent 4 to select option 3 which is not only far from the city center but also share the bathroom and kitchen with housemates (Chowdhury I, 2017). The satisfaction derived from choosing option 3 declines as a result of not getting satisfaction from other choices. This law helps respondent 5 to pick option 5 which is far from all the other properties thereby hindering any potential satisfaction from other options available. Demographic Theory Influencing Ethnicity Ethnicity as a variable of demographic is influenced by institutional and self-congruity theory (Mathews, 2015). According to this theory performance and ethnic-based attributes influence the attractiveness of a property to rent. As a result, ethnic-based characteristics play an important role on the attractiveness of an optional although it has little effect as compared to price and service. As a result of this theory, respondent 2 is influenced to allocate distance from the city center the highest score which suggests Australians consider distance as an important factor in selecting a house to rent. Respondent 4 is English and considers bathroom and kitchen as important aspects as compared to other evaluative criteria. Respondent 5 is influenced to allocate rent as an important factor which implies Americans value rent of the property among other things. Demographic Theory Influencing Age Age stratification theory suggests that the members of society are classified based on age just as they are classified by class, race and gender. As a result of this theory, respondent 2 is aged 54 and influenced to pick option four because at his age he is expected to be living with a family and requires more than one room (Angrisano et al, 2016). Based on stratification theory, respondent 4 is inclined to choose option 3 because he is still studying and working as a plumber which implies he cannot afford other options although his option is distant from the city center. Respondent 5 is aged 59 which influences his decision to choose option 5 since at his age he is expected to have retired and can afford to live 83km away from the city center to pay cheaper rent for a good property. Demographic Theory Influencing Income Attributive theory of consumer behavior influences income of the respondents and suggests that consumers get satisfaction not from the property but features of the property. More than one product is capable of producing one characteristic. Characteristics contained in a class of products may be different when consumed separately (Bloome, 2017). Besides, characteristics contained in a commodity are similar for all consumers. Respondent 2 selects option 4 because he rates the evaluative criteria above average and rates option 1 as very good with regards to evaluative criteria. In addition, the property is near to the city center and pays a rent of $990 per week. Respondent 4 is influenced by this theory to select option 3 as a result of his pretax income being lesser than respondent 2 and pays $230. Respondent 5 pretax income is lower than respondent 2 and 4 which enables him to select option 5 which is 83km away from the city and pays $195 per week (Brien, Swindell Stockwell, 2017). Demographic Theory Influencing Gender The gender identity theory can be classified under gender schema theory and multifactorial gender identity. The latter suggests that individuals construct the identities by learning their gender and interpreting through their experience and those of others (Ye, L., Robertson, 2012). On the other hand, multifactorial gender identity suggests that identity is a combination of a gender-related situation. These theories play a significant role in explaining the role of men as the three respondents are male all looking for property to rent while leaving their wife to make decisions. Characteristics of Individuals who Would take Rental Property Individual who would prefer to rent option 1 are high-income earners who have the ability to pay $1,580 per week. These individuals require more than 3 bedrooms as a result of a larger family. Individuals who might be interested in the property must have a car as a means to get to the city (Sturm, 2017). This property is recommended for individual who are busy and do not have time to furnish their own home. Cognitive learning theory plays an important role in learning and memory. It involves interrelation among behavioral factors, personal factors and environmental factors (Kolb, 2014). The owner of the property should attract potential tenants through observational learning which involves learning from other property owners with similar properties around the area. The learning processes will enable the owner to conduct a targeted market to clients that meet specific qualifications. References Angrisano, M., Biancamano, P. F., Bosone, M., Carone, P., Daldanise, G., De Rosa, F. Girard, L. F. (2016). Towards Operationalizing UNESCO Recommendations on "Historic Urban Landscape": A position paper 1. 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