Format Your consumer analysis audit will be approximately 7-10 pages in length. In addition, you must include a cover page and a reference page. You may follow the suggested audit process and add any other relevant consumer behavior concepts you think will enhance or support your audit findings. For example, you may incorporate one or more of the concepts from the weekly Threaded Discussions: heuristics, means-end chains, new consumer trends, vicarious learning, etc. To improve readability, include headings and sub-headings to divide your audit into sections. You must support your findings, recommendations and conclusions with information from a variety of resources, such as the textbook, journal articles and trade publications (specific to the type of retail store you selected). Every fact or theory you use that is not your own must be documented using APA style guidelines. There is no minimum number of resources required but you should use at least six or seven for a subject of this depth. Check out this Web site for a quick and easy way to do reference citations in text and reference citations in a list at the end of your audit: http://www.apastyle.org/learn/quick-guide-on-references.aspx You must also include your own primary research and findings that you described in your interview paper last week. In addition, you might: · Collect and analyze any print advertising, television commercials, radio ads, etc. for the selected store or its competition · Take photographs of the store, if you have permission – photos will enhance your audit! Critical Components of a Consumer Analysis Audit Develop relevant elements from the following list to include in your audit: Introduction Name of store selected Purpose of audit Consumer Affect and Cognition Consumer satisfaction Knowledge and beliefs about the brand Meanings and beliefs about the products/services sold Product knowledge – attributes, consequences, value, self-relevance Consumer-product relationship with products or brands Exposure to store information – attention and comprehension Brand equity – evaluation of the brand from a consumer prospective Consumer perceptions and attitudes about the store Emotional states of consumers in the store Overt Consumer Behavior Analysis of the common behavior sequence for a retail store consumer goods purchase (Information contact, Funds access, Store contact, Product contact, Transaction, Consumption and disposition, Communication) Vicarious learning or modeling opportunities How is the retailer influencing consumer behavior – promotions The Consumer Environment Social environment Physical environment – location, store layout, in-store stimuli (lighting, smells, noises) Store layout – grid or freeform. Take photographs of the store, if you have permission – photos will enhance your audit! The five generic consumer situations – information acquisition, shopping, purchase, consumption and disposition Culture and cultural meanings in products Subculture – demographics, income, lifestyle, social class, reference groups and family Trends that impact consumers Market segmentation Evaluate the effectiveness of the retailer’s apparent marketing mix strategy Price strategies Promotion strategies – Collect and analyze any print advertising, television commercials, radio ads, etc. for the selected store or its competition Product strategies Customer satisfaction policies Optional – Interview the manager or sales staff to learn more about current marketing strategies Conclusion: How could the marketing strategy be improved (made more effective)? Support findings with concepts from the course and “Wheel of Consumer Analysis” Recommend an improved marketing strategy for the retail store.