Assessment 3

Assessment 3 
Use activities, interests, and opinions (AIO) measures to create a psychographic profile for a product of your choice.
• Questions to Consider 
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community
• Every business encounters situations where decisions made by another party—or changes in consumer demand—affect the livelihood of the company. Consider how a decision made by another party could affect the company for which you work: o Consider how the company for which you work may respond if the demand for its products or services were to suddenly decrease. What would be the effects of the decrease in demand?o If a dramatic decrease in demand did occur, and you were in charge of addressing the situation, what would you do?o How would the decision of the other party, and your proposal to improve the situation, affect consumer behavior?• Find the consumer segments of the area where you live. You can do this by doing an Internet search; many Web sites allow you to search for demographics by zip code. Once you have located the information you need, consider the following: o What are the consumer segments in the area where you live? What are the characteristics of these segments?o What is your reaction to this information? Is it what you expected? Why or why not?o How might enterprises use this information to their advantage when it comes to marketing their products and services?• Assessment Instructions
Psychographics is an area of market research concerned with measures of consumer activities, interests, and opinions (AIO). Utilize AIO measures to create a psychographic profile for a product of your choice.
Complete the following:
• Select a product that is readily available and describe what it is and how it is used by consumers.• Using the concept of AIO measures (determining how well a particular consumer fits AIO statements), create a psychographic profile for a typical consumer of the chosen product. Note that the profile you outline may be one of many different profiles that are appropriate for the product.• Identify at least two probable items within each of the areas (activity, interest, and opinion) for the profile that you create. As an example, an activity might be “I frequently listen to country music”; an interest might be “I am interested in the latest consumer electronics”; and an opinion might be “International travel is educational for my children.”
Use proper APA style and formatting. The content of your assessment should determine its length.