By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:SHOW LESSCompetency 2: Analyze consumer behavior.Describe a product for which to create a psychographic profile.Competency 3: Assess the managerial application of customer behavior concepts.Create a psychographic profile of a customer who uses the product using AIO measures.Identify probable items aligned with AIO categories that describe the consumer's behavior.ContextWhile the process consumers go through to determine what products to buy is fascinating, the ways in which consumers actually use the products they have purchased is equally as interesting. Some products are associated with certain types of events or behaviors, but often consumers branch out on their own and use products in new and innovative ways. Consumers typically use dryer sheets to soften and add scent to clothing in a dryer, but some customers also use dryer sheets to deodorize their shoes. Companies that pay attention to such behaviors can expand the uses for their products and thereby increase the sales of their products. In fact, one brand of fabric softener now promotes the use of dryer sheets in shoes by placing a picture of that use on the side of the package.SHOW LESSEach consumer is distinct because of the unique composition of traits. However, groups of consumers can be identified based on the individual traits that they share. By studying a consumer's age, gender, ethnicity, and income, marketers are better able to predict behavior.Yet, specific pieces of demographic information alone cannot be calculated or analyzed in the same way as financial sales figures. Behavioral predictions that are based on demographics are more likely to provide insight into what direction a company should take its products rather than providing a specific answer.For example, the age of a consumer might be seen as a determiner of whether or not he or she will purchase a motorcycle. You might predict that younger people would be more likely than older ones to buy a motorcycle. Harley-Davidson, however, knows that age is not the only key determinant. The median age for the purchaser of Harley-Davidson's motorcycles has been rising over the past five years and is now approximately 47 years! However, the typical Harley owner does not just fit in that age category; the typical Harley owner also fits a certain income profile. The median income of a typical Harley customer is at least $80,000 per year. So, for Harley-Davidson, the age of the consumer and the income together help paint a clearer picture of a typical customer.ReferenceH-D. (2008). Harley-Davidson USA. Retrieved from http://investor.harley-davidson.com/demographics.c...Toggle DrawerQuestions to ConsiderTo 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.SHOW LESSEvery 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: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?If a dramatic decrease in demand did occur, and you were in charge of addressing the situation, what would you do?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:What are the consumer segments in the area where you live? What are the characteristics of these segments?What is your reaction to this information? Is it what you expected? Why or why not?How might enterprises use this information to their advantage when it comes to marketing their products and services?ResourcesSuggested ResourcesThe following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.Capella MultimediaClick the link provided below to view the following multimedia piece:Consumer Behavior Terminology | Transcript.SHOW LESSCourse Library GuideA Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP4024 – Customer Behavior Library Guide to help direct your research.Internet ResourcesAccess the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication.Bachelor of Commerce. (2012, February 22). (Consumer behavior) chapter 7: Demographics, psychographics, and personality [Web log post]. Retrieved from http://marketingrevisionnotes.blogspot.com/2012/02...Rao, S. R. (2009). Lifestyle and psychographic segmentation. Retrieved from http://www.citeman.com/7752-lifestyle-and-psychogr...Bookstore ResourcesThe resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation.Babin, B. J., & Harris, E. (2018). CB8: Consumer behavior (8th ed.). Boston, MA: Cengage.Assessment InstructionsPsychographics 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.