Question

Essay Assignment

Based on the assigned reading article, generate an essay paper following this structure

Introduction

Define the consumer behavior science and talk briefly about the four major contexts that impact consumer behavior under the Covid -19 pandemic.

Discussion

Answer the following without including the questions in the essay

1. How these contexts apply to yourself or your household consumption behavior since the beginning of the pandemic?

1. Briefly explain the eight immediate effects of Covid-19 pandemic.
2. Which of the eight effect relate to yourself or your household consumption behavior.

Conclusion

In conclusion, elaborate on the modified habits that customers might curry with them beyond the Covid-19 pandemic with proper justification.   

Answer 1

INTRODUCTION

Covid 19 pandedmic has been a great drawback for the consumers . Covid 19 has effected all the major areas of a single consumer life, it has made a consumer worst by not able to do anything or buy anything. The major context that effect consumer behaviour during the pandemic is that

lose of current employment

lack of suffiecient Income

lack of oppurtunities

rising price of products

These points have effected consumer a lot in all ways , Consumer then started to focus only on necessary or daily needed products with reduced price and started saving money for future because of lack of employment oppurtunities and also the economy was facing real depression

DISCUSSION

In my household and nearby households i have witnesed a great problem of lack of employment and also lack of sale of goods and serviceses. Consumers are so scared that people stop purchasing goods for fulfilling their needs and started to spend only on food products such as vegetables and fruits and nothing else , and also due to lack of employment people dont know what to do to earn some money , people has gone homeless , jobless , and lack of savings too . Consumers didnt save money for this kind of unexpected and worst situation people were without any money to meet medical expenses too. The pandemic was so unexpected that people already spent all their income on meeting their needs that they are left without any money which already all the sales companies on their goods. consumption behaviour of consumer reduced to the lowest that companies started to face loss of profits and that turned out to be negative , which lead companies to cutshort their employees to the limited because they are left without ay money to pay for employees as salaries. All these effected their consumption behaviour of consumer . which lead to increase in supply and reduction in demand which lead to reduction in price of goods . Later it also reduced reduction in supply of goods and also demand which lead the gdp of the countries to the worst that is GDP of countries decreased due to lack of production and lack of labor supply.

In my household we reduced the unwanted needs of our family members into only wanting those goods which are required for our daily requirements such as grocerry and medicines and nothing etc we consumed. We cutshort our unwanted needs and spending of money to save for future. we all have gone through such a phase

The eight immediate effects of covid 19 on our households were

lack of sufficient income

lack of money

losses of current employment

lack of savings

reduced consumption of goods

not able to meet the daily requirements

Company running in loss

Lack of profits and our products are not selling out

CONCLUSION

The modified habits of consumer will be to always save money for future , reduce the unwanted spending of money just to showcase the lifestyle , always having backup not matter in what situations . Always to focus on what we are at best and not focus on anything else , it may be focusing on our skills etc