Discussion question should be of a 2-3 paragraph response to the initial post. Then, you must respond to two of your peers with meaningful responses.  At least 1 paragraph. What is your experience in consumer's behavior? I can't see my peers posts until I submit my post. Please complete original post by Friday so I can see my peers posts and send them to you. If you need it, I have attached the reading material below Reading: Lesson 1 CONSUMER BEHAVIOR is considered the PSYCHOLOGY OF MARKETING. The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers); The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); The behavior of consumers while shopping or making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;  How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. Consumer behavior involves the study of how people--either individually or in groups--acquire, use, experience, discard, and make decisions about goods, services, or even lifestyle practices such as socially responsible and healthy eating. As an evolving phenomenon, one should not be overly dogmatic about this definition. Numerous alternatives, each taking a slightly different angle and emphasizing different aspects. However, the scope presented here suggests that: The behavior occurs either for the individual, or in the context of a group (e.g., friends influence what kinds of clothes a person wears, or family tradition influences which brand of laundry detergent is bought). Consumer behavior involves the use and disposal of products as well as the study of how they are purchased. Product use is often of great interest to the marketer, because this may influence how a product is best positioned or how we can encourage increased consumption. Since many environmental problems result from product disposal (e.g., motor oil being sent into sewage systems to save the recycling fee, or garbage piling up at landfills) this is also an area of interest. Consumer behavior involves services and ideas as well as tangible products. The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for the national health and economy. selfLearn-en. (2019, May 17). understanding consumer behavior, consumer behavior definition, basics, and best practices [Video]. YouTube.https://www.youtube.com/watch?v=jP3XVgrSNsM (Links to an external site.) There are four main applications of consumer behavior: The most obvious is for marketing strategy—i.e., for making better marketing campaigns. For example, by understanding that consumers are more receptive to food advertising when they are hungry, we learn to schedule snack advertisements late in the afternoon. By understanding that new products are usually initially adopted by a few consumers and only spread later, and then only gradually, to the rest of the population, we learn that (1) companies that introduce new products must be well financed so that they can stay afloat until their products become a commercial success and (2) it is important to please initial customers, since they will in turn influence many subsequent customers’ brand choices. Social marketing involves getting ideas across to consumers rather than selling something. Marty Fishbein, a marketing professor, went on sabbatical to work for the Centers for Disease Control trying to reduce the incidence of transmission of diseases through illegal drug use. The best solution, obviously, would be if we could get illegal drug users to stop. This, however, was deemed to be infeasible. It was also determined that the practice of sharing needles was too ingrained in the drug culture to be stopped. As a result, using knowledge of consumer attitudes, Dr. Fishbein created a campaign that encouraged the cleaning of needles in bleach before sharing them, a goal that was believed to be more realistic. As a final benefit, studying consumer behavior should make us better consumers. Common sense suggests, for example, that if you buy a 64 liquid ounce bottle of laundry detergent, you should pay less per ounce than if you bought two 32-ounce bottles. In practice, however, you often pay a size premium by buying the larger quantity. In other words, in this case, knowing this fact will sensitize you to the need to check the unit cost labels to determine if you are really getting a bargain. There are several units in the market that can be analyzed. Our main thrust in this course is the consumer. However, we will also need to analyze our own firm’s strengths and weaknesses and those of competing firms. Suppose, for example, that we make a product aimed at older consumers, a growing segment. A competing firm that targets babies, a shrinking market, is likely to consider repositioning toward our market. To assess a competing firm’s potential threat, we need to examine its assets (e.g., technology, patents, market knowledge, awareness of its brands) against pressures it faces from the market. Finally, we need to assess conditions (the marketing environment). For example, although we may have developed a product that offers great appeal for consumers, a recession may cut demand dramatically. CBS News. (2015, November 27). Retail tricks: How stores make you spend more (CBC Marketplace) [Video]. YouTube.https://www.youtube.com/watch?v=zVplgl3-pRM (Links to an external site.) Reading: Lesson 2 Difference Between a Buyer and a Consumer By: Louise Balle Updated September 26, 2017 When you formulate a business and marketing plan you must take the time to identify your ideal target market. The target market is the group of people most likely to patronize the business. As a business owner or operator, you should understand the difference between a buyer and a consumer so that you know how to properly market your products and services to the public. Buyer A buyer is a customer—he is an individual or business that makes a purchase from a seller. Regardless of the scenario, the buyer is the party that gives or transfers money to the seller to secure a product. A teenager getting a video game from a store at the mall is a buyer as is a distribution company that purchases raw materials from a manufacturer on credit. Consumer On the other hand, a consumer is a person who uses a product or service. The consumer is often called an “end user” because he is the last stop and does not usually transfer or sell the item to another party. A buyer can be a consumer, as in the example of a teenager buying and using a video game. At the same time, a consumer is not necessarily the buyer—for instance, if a mother purchases cereal for herself and her family, each family member is a consumer of the product. B2C vs B2B The difference between a buyer and consumer comes into play when a company is evaluating its overall business plan. A company usually falls into one, or both, of two categories—B2B (business to business) or B2C (business to consumer). As the name "business to business" suggests, this is a scenario where two commercial entities enter into a purchasing agreement. The purchasing business is simply a buyer when it plans to resell the items purchased, but it is a consumer when it uses them (as in the case of buying office supplies). A business to consumer arrangement is between a commercial entity and the end user. Considerations When marketing a product or service a company has to identify the needs of both the buyer and the consumer. For example, a publisher who sells textbooks must market to both the distributor who will sell the textbooks and the professors who will order them for class. The requirements of a buyer may be different from the consumer, if they are two separate people, but in many cases the buyer’s decision is strongly influenced by the consumer’s needs. What Is the Difference Between a Customer and a Consumer? By: Chelsea Levinson Reviewed by: Jayne Thompson, LLB, LLM Updated November 02, 2018 The words “customer” and “consumer” are often used interchangeably. However, there are subtle distinctions between the two. As a business owner, you'll be selling your products and services to a customer – the person who buys your goods. Understanding who this customer is can help you properly focus your marketing efforts, so they have the maximum effect. A customer purchases goods while a consumer uses or consumes goods. What Is the Difference Between Consumer and Customer? The difference between a consumer and customer is subtle yet important to understand. Essentially, a consumer is a user of goods. Every person is a consumer of goods at some level. If you eat food and wear clothing, you’re consuming goods. A customer, on the other hand, is a buyer of goods. For example, say you purchase a bottle of juice from a convenience store. You arrive at work and give the juice to your office manager to drink. In this instance, you are the customer, and your office manager is the consumer. Another key point in the consumer vs customer discussion is that customers can be businesses that buy and then resell products. In this regard, they are customers but not consumers of the products they purchase. They are reselling for another consumer to finally use the product. What's a Consumer? A consumer is a person who uses or consumes a product. Everyone who participates in the economy is a consumer of goods. For example, say you go to a grocery store and buy a week’s worth of groceries for your family. You are the customer, purchasing goods from the grocery store. You go home and feed your family the groceries. Everyone in your family is a consumer of the products you purchased. However, you are the only customer, since you did the buying. What's a Business Customer? A business customer is defined by the fact that she makes a purchase. Marketing activities are almost always geared towards customers, not just consumers. A business’s main objective is attracting customers to spend money on goods and services. Most businesses – outside of behemoths like Coca-Cola – can’t possibly market to every consumer on the planet. This means choosing who to spend marketing money on. Marketing efforts are typically directed at customers and potential customers. If you own a beer company, it doesn't make sense to market to consumers who don't drink alcohol as they're unlikely to be customers. Even the cleverest advertising probably won't turn a teetotaler consumer into a beer-drinking customer. Resources should instead be utilized on attracting and retaining likely customers. Note also that a business customer can ultimately be a reseller or wholesaler, turning around and selling products for resale to other consumers. A consumer, on the other hand, only consumes products. What Is the Role of the Consumer in Marketing? By: Louise Balle Updated September 26, 2017 Although the company is the main catalyst in the marketing of its own products and services, consumers also play a role in the marketing process. When developing your plan, remember that the consumer is the central element of all decisions related to marketing. Understand the roles consumers play so you can maximize the effectiveness of your marketing plan. Who Is the Consumer? Before you examine the role of the consumer in your marketing plan, make sure you understand exactly who the consumer is. People sometimes use the two terms interchangeably, but the term “consumer” has a more distinct definition compared to “customer.” A customer is simply a buyer, while a consumer is the individual who both buys and uses the product or service. A consumer is a customer, but a customer isn’t always a consumer in a business transaction. A consumer also is called the end user. Marketing Research Consumers play a major role in marketing research before a product or service is released to the public. Once you identify your target consumers, you can invite these people to participate in focus groups or send them surveys to quiz them on key elements of your marketing plan. Questioning them about the right price to charge and what marketing message appeals to them as a consumer can help guide your entire plan, particularly when releasing a new product or service. Product Feedback The consumer also plays a role in the feedback-gathering process after a company’s offering hits the market. After implementing your marketing plan and releasing the product or service, you need to track results and continually monitor consumer needs so you can improve on the offering in the future. For instance, software developers seek feedback from consumers regularly to help them develop new and improved versions of programs. Bring in New Consumers Consumers also can act as agents to further the effects of your marketing plan. With word-of-mouth marketing, consumers who have used your product review it both offline and online and can refer other consumers to the product. This marketing is free and very effective, as individuals tend to trust the word of people they know when it comes to trying new products and services. https://bizfluent.com (Links to an external site.) TEDx Talks. (2014, November 25). How stores track your shopping behavior | Ray Burke | TEDxIndianapolis [Video]. YouTube.https://www.youtube.com/watch?v=jeQ7C4JLpug (Links to an external site.) Bridging the Gap between Buyers and Suppliers To help facilitate successful U.S. sourcing manufacturers must: • Bridge the gap between buyers and U.S. suppliers. • Forge strategic relationships. • Collaborate to solve design and production issues. Robert Moakler (Links to an external site.) Dec 05, 2014 Many companies are considering expanding U.S. sourcing or reshoring production back to the U.S. in an effort to be located closer to customers. Some of the benefits of sourcing locally include increased flexibility to adapt to variable demand, lead time, time to market, eliminating higher shipping expenses and minimizing supply chain disruptions. As companies consider new locations and production strategies they must first decide what areas they want to invest in and where they want to rely on suppliers. In a recent article in MIT Sloan Management Review by Willy C. Shih (“What it Takes to Reshore Manufacturing Successfully (Links to an external site.)”) a manager from Appliance Park was quoted as saying, “Pick where you want to invest in core competencies, and acknowledge where you want to have strategic suppliers—where you aren’t going to make the deep investment yourselves.” Next, buyers need to find strategic U.S. suppliers with the right capabilities, capacity and quality performance needed for the job. However, due to years of offshoring, the U.S. supplier network has incurred some structural damage and new U.S. supply chains must be rebuilt and managed. As manufacturers are rethinking production locations and supply chain options, rebuilding and mapping the American supplier network is becoming increasingly important. To help facilitate successful U.S. sourcing we must: Bridge the gap between buyers and U.S. suppliers. Forge strategic relationships. Collaborate to solve design and production issues. Bridging the Gap Creating high performance, collaborative alliances between buyers and U.S. suppliers will ensure rebuilding a strong and sustainable American supply chain. However, as cited by The Milstein Commission on New Manufacturing (Links to an external site.), Co-Chaired by Haley Barbour, Former Governor, Mississippi and Evan Bayh, Former Governor and U.S. Senator, Indiana, many small and medium companies do not possess the know-how to locate the suppliers needed to move beyond the design stage. They simply do not have the resources to fully leverage the U.S. supply chain. In turn, potential U.S. suppliers lose out on opportunities. Streamlining Supplier Discovery Partnering with an E-sourcing company can streamline supplier discovery. BUYERS An e-sourcing platform can save buyers time so they can concentrate on their core income-generating business responsibilities. E-sourcing can streamline the sourcing process and locate the U.S.-based suppliers with the expertise and the machine assets needed for the job. Buyers can quickly receive quotes and easily compare and identify the best match. E-sourcing can help managers (Links to an external site.) make better decisions (Links to an external site.) in terms (Links to an external site.) of costs (Links to an external site.) and quality (Links to an external site.). SUPPLIERS Suppliers can get in front of live RFQ opportunities at the time when buyers need their custom services. An e-sourcing platform is a powerful business development tool that can promote the suppliers’ capabilities and services and boost machine uptime by getting in front of a greater number of opportunities. Suppliers can review engineering documentation and CAD files and respond to RFQs effectively and in a timely manner. E-sourcing technology can be a fundamental component in connecting buyers with U.S. suppliers, as well as an efficient way to facilitate a level of collaboration to build and sustain solid relationships. Forging Strategic Partnerships One new model for building strategic partnerships between buyers and suppliers incorporates a cooperative relationship of “co-innovation” that includes information sharing and collaboration to solve design and production issues – buyers and suppliers should be collaborating and innovating together. Adopt a strategic view of buyer/supplier relationships BUYERS Collaborate with your supplier network to maintain optimum productivity and profitability for your manufacturing operation. Be sure to communicate clear and specific details about the job to receive an accurate quote. Effective communication with suppliers will optimize efficiency, accuracy and profitability. Remain positive to an open exchange of communication, information and suggestions to solve problems and create better processes. SUPPLIERS Communicate with customers and potential customers to forge strong relationships and build trust. Provide quality performance and good customer service to create repeat customers who will in turn become advocates for your company and services. Stay engaged with customers to keep in front of potential problems. The success of revitalizing the U.S. manufacturing base lies in delivering efficient communication and coordination to the buyer/suppler relationship. The Technology Connection As global competitors invest in technology for their own domestic supply chains, companies in the U.S. may like to consider implementing new technology, processes and automation as well as take advantage of the close proximity of product design and manufacturing to promote innovation. Lean manufacturing, new technology and collaboration between buyers and suppliers can eliminate unnecessary parts and processes resulting in significant cost savings. Considering these methods early on in the product development and reevaluating design from a manufacturing standpoint many times leads to better design decisions that reduce costs. Examine and consider new technology and processes BUYERS and SUPPLIERS When manufacturing is moved next to design and design engineers are working closely with manufacturers, they can improve the design, eliminate waste, improve quality, increase productivity and make the product more easily and efficiently. Lean manufacturing practices, automation and innovation are critical elements in rapid customization, reducing costs, shorter lead times and more rapid product cycles. Embracing new technology, training and methods can build competitiveness, expand capabilities, increase efficiency and possibly add to your bottom line. ---------------------------- Considering these concepts may lead to opportunities that can be crucial to the growth, success and sustainability of your business. Lean processes and automation are tools that can boost productivity, and when productivity is increased, it reduces the total cost vs. offshore and drives U.S. competitiveness. Streamlined supplier discovery, communication and collaboration and reevaluation of product design will help create a focused strategy for growing domestic manufacturing and facilitating successful U.S. sourcing to rebuild a sustainable American supplier network. Robert Moakler is COO of Fabricating.com (Links to an external site.), an online marketplace exclusively developed for the American manufacturing industry. The company connects U.S. buyers with U.S. suppliers through an online platform for sourcing custom metal and plastic parts in over 250 manufacturing disciplines. Mike Moore. (2012, October 26). What Consumers Want [Video]. YouTube.https://www.youtube.com/watch?v=VUmra4stA3c (Links to an external site.) Jigsaw Academy. (2013, June 6). Retail Analytics - Relationship between buyers and suppliers [Video]. YouTube.  Below is the first peer's post As someone who has always had an interest in psychology (I earned a Bachelor's degree in psychology) and learning all the whys surrounding why people do the things they do, I find consumer behavior a very interesting topic. While I have never participated in studies regarding consumer behavior, this is certainly something that I would like to dive more into. Figuring out why consumers have a need for products and why they buy certain products and then determining how best to market those products is an area that I believe I would really enjoy. I've never learned the ins and outs of consumer behavior, so this is one course I can honestly say that I'm really excited to be taking. I think that my previous education in psychology will be really beneficial to learning about consumer behavior. I own a small online women's boutique so this class will be great for me to gain knowledge to put towards marketing tactics for my business. I personally can be influenced by friends and family on purchases that I make. I also am a huge fan of reviews. I read reviews for almost everything to see what other's experience was before I make a purchase or go to a restaurant or business or use a particular service. There are also a few products I buy simply because that's what I grew up using, I like it, so I continue to buy. I found it interesting to learn that consumer behavior includes the disposal of products. I would never have thought that the disposal of products would be a part of consumer behaviors. Below is the second peer's post My experience in consumer's behavior is personal. I am a creature of habit. If I like your service and products, I will continue to patronize your business. I have had some good experience and I also have had some bad. A business that I I have had good experience with is an auto mechanic repair shop. This mechanic is very professional and has reasonable prices. He completes the repairs in a timely manner and it is done right. I recommend many people to him because of this. This reflects good consumer behavior. The bad consumer behavior I have experienced is actually at a tire shop. I dealt with the individual for several years and thought we had built a good relationship. Oh how was I wrong. It got over on me with the price and left me waiting to complete the job while assisting a customer that I was ahead of. I told him that he lost my business and I would not recommend anyone to him. Consumer behavior is very important and it can make or break your business.

Class discussion on Chapter 5 (Requirements Life Cycle Management) in the BABOK. In your groups have a few members act as the Change Control Board to do the following: Assess the change Trace the requirement to learn the impact on the overall solution Prioritize the requirement among all the requirements When prioritizing the requirement, be sure to include: Cost Risk Penalty for not implementing Benefit for implementing Any dependencies to other requirements Time sensitivity Stability of the requirements  Any compliance that needs to be met Work with the faculty member, as your stakeholder to get an  understanding, agreement and approval of the requirement and the  proposed design. Be sure to consider all stakeholders that will be affected by this change and include their approval in the proposed design. Before the end of the class, check with your faculty member for a change to your personal project. Submit the business case that the Change Control Board reviewed during class. Make sure it contains the following: Assessment of the change Trace the requirement  to understand the impact this change will have on the overall solution Prioritize the requirement among all the requirements When prioritizing the requirement be sure to include: Cost Risk Penalty for not implementing Benefit for implementing Any dependencies to other requirements Time sensitivity Stability of the requirements  Any compliance that needs to be met

Open a new Microsoft® Word document, and enter your answer to one of the prompts below:Scan the articles to identify 3 patches recently made to operating systems or software applications for mobile devices. Create a list of software vendors and the number of patches applied by each over the past year.Scan the articles to identify cyberattacks related to the Internet of Things. Briefly describe the two most serious attacks you can find. What is being done to safeguard the Internet of Things from further, even more serious attacks?Scan the articles to gain insight into the use of ATM fraud devices known as “insert skimmers.” What are these devices, how widespread is there use, what can consumers do to protect against their use?Save the file on your computer with your last name in the file name. (Example: part_05_Jones.doc)Click the Browse button below to find and select your saved document, and then click Submit Assignment for Grading.