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5.0 ADVANTAGES AND DISADVANTAGES
Advantages
In analysing the consumer diary, there are a number of advantages and disadvantages.
As there are more than one individual involved in the consumer diary project, one of the main advantages is that members get to learn various consumer behaviours. Our group consists of two females and two males; it is a good opportunity to see the different purchase decision made as a result of different gender. For example, within the low involvement product categories, female members in our group tend to be more ‘limited decision making’, whereas male members are more habitual decision makers.
In order to complete the project, a wide range of relevant academic journals have to be read. Many of these academic journals allow group members see how marketing theory can be applied in the real world. Other journals enable members to comprehend the theory more profound and analyse the theory in a more objective way.
The consumer diary log template is made up of clear, distinct headings. In analysing each purchase according to these headings, it is a way for members to discover more about their own, usual consumer behaviour, which would hardly be noticed otherwise.
Disadvantages
Despite the advantages, there are a few limitation of using consumer diary as the sole method to learn Consumer Behaviour. One of these is due to small group size. Group members are all university students, with low or no personal income. Additionally, our group members have relatively similar lifestyle, which all lead to similar purchasing behaviour. It is believed that learning better about Consumer Behaviour would require assessment of various distinct market segments.
Time is another disadvantage. The timeframe to maintain Consumer Diary Log Template is four weeks, which is fairly limited. For instance, in looking at the cosmetic category in our diaries, it is perceived that in the summer, the chance for...