Consumers have 5 key reactions to stockouts

Buy the item at another store
Substitute a different brand
Substitute the same brand
Delay the purchase

Discuss one or more of the key topics and/or concepts specific to this week that intrigued you, surprised you or had the most relevance to you. Please note that your summary

Sample Solution

This paper explores consumer reactions to stock outs in terms of consumer satisfaction with the decision process and store choice behavior. Empirical investigations by Fitzsimons (2010) involving stock outs in a consumer choice context suggest that consumer response to stock outs is driven in large part by two factors: the effect of a stock out on the difficulty of making a choice from the set and the degree of personal commitment to the out-of-stock alternative. The results show that personal binder to an out-of-stock choice option is a function of preference for the option, whether the option is included in the consumer’s consideration set, and the degree to which the stock out announcement is personally directed.

For my research I decided to analyse how high-end and high-street brands use social media and influencers to benefit their businesses. I will look at marketing strategies, how they interact with their audiences and how they approach body image.

Burberry is a well-known British brand that captures the quintessential style of Britain. They are known for their classic designs and timeless silhouettes that are sentimental to British history. Burberry may appeal more to an older audience but in recent years they have become more desirable to a younger audience due to influencers advertising the brand. In terms of the market this strategy this will increase sales to the brands target audience, social media helps this happen because they can approach the right people. An example of Burberry doing this is sharing pictures of celebrities like Stormzy (fig.1) who are relatable and is someone that an audience has watched grow to the point where he is able to wear a luxury brand like Burberry. Using someone like Stormzy also shows that Burberry have a sense of diversity and that anyone from any background can wear and use their products. This helps with marketing because Stormzy’s audience and followers will want to investigate the brand and see it as something they would want to wear.

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