Buying Behavior & Market Analysis

Essay Instructions:

CASE ASSIGNMENT In bold below there is a list of three product categories. Within the product categories listed below identify TWO purchases you have made. ONE must be a High Involvement purchase, and ONE a Low Involvement purchase. The two purchases can be from the same product category, or from two different product categories, as appropriate: - Computer software (e.g. game or app/application) - Underwear - Restaurant Excluding the title page, any appendices or references, write a four page paper in which you do the following: First Page Applying the teaching materials, explain why one product purchase was a High Involvement purchase and the other was a Low Involvement purchase. (10%) Using the five stage model of the Purchase Decision Process in the model of consumer buying behavior described in Module 1, describe in detail the process you went through in making each purchase. Bear in mind that the purpose of the assignment is to demonstrate the depth of your understanding of the teaching materials. (20%) Second Page Identify and discuss the differences between the way you went through the purchase decision processes for the two products. (20%) Third and Fourth Pages Assume now that you are a marketing brands in two of the product categories listed above. Applying only the teaching materials, specifically the presentation "Uses of a Model of Buying Behavior", explain how you might use your understanding of the Model of Consumer Buying Behavior in marketing the two products. (Note that you are asked to APPLY the teaching materials, and thus simply listing what marketers can do in general is not sufficient. You should think about what is explained in the teaching materials and then apply that learning to two of the product categories listed above). (50%) List at the end all of the references you have cited in the body of the paper. Note that the weight that will be assigned in grading to each of the sections of the assignment is indicated as a percentage after each one. Fifty percent roughly equates to a C grade. Ensure that you include on the title page: - the name of the university, (Trident University International). Papers submitted with a different name will not be accepted. - the course number, (MKT301), - the term, (Fall 2011), - the module number, (Module One), - the words in bold above including the product categories and the section starting "First Page" and ending "...the two poducts. (50%)" - the two product categories and relevant brand names you chose for each type of involvement purchase, e.g. "High Involvement: Computer software: World of Warcraft. Low Involvement: Restaurant: Denny's. - your name, - the name of the professor or instructor to whom the paper is submitted, (your assigned Professor or Instructor) and - the date on which it was written. IT IS VERY IMPORTANT THAT YOU INCLUDE THE INFORMATION INDICATED ABOVE. IF YOU DO NOT INCLUDE THIS INFORMATION ON THE TITLE PAGE YOU WILL BE ASKED TO REVISE THE PAPER TO INCLUDE IT AND DOING SO WILL THUS DELAY THE GRADING OF YOUR WORK. EXPECTATIONS The notes associated with the question indicate that, as for other assignments in the course, you should demonstrate your knowledge and understanding of the taught materials in the specific context of this assignment. The emphasis in grading is primarily on whether you show that you understand what is being taught. In that regard some relevant concepts and frameworks to demonstrate your understanding of in this assignment include: - The difference between goods and services. - What is meant by Involvement and why it might be high or low. - The stages of the Purchase Decision Process, (PDP) and - How a potential buyer might follow this process - How the differences between High and Low Involvement affect the way someone might follow the PDP - How marketers might use their understanding of the model of buying behavior including the PDP to: o Segment a market, including explaining what is meant by segmentation and why segmentation can be useful in marketing. o Influence purchase probabilities as indicated in the relevant presentation. Bear in mind that the main goal of the assignment is for you to use it to demonstrate your learning and understanding of the background materials. In order to do well in this assignment you MUST apply and demonstrate your learning from the background materials. I know that there's a lot in Module 1 to cover, but this forms the grounding for the remaining modules, so once you have conquered this, the rest will be a lot easier.

Essay Sample Content Preview:

Trident University International Course Number, (MKT301), Term, (Fall 2011), Module Number, (Module One) High Involvement: Computer software: World of Warcraft Low Involvement: Restaurant: McDonald’s Name, Professor Date A low involvement procure is associated with things that consumers normally buy out of routine, without putting much thought into it. This class of purchases includes a good number of the things people buy from drug stores or markets. In addition, it may also include places people eat their lunch. In this case, McDonald's was selected as a low involvement procurement (CIT 2010). Availability of product is important. On the other hand, high involvement purchases are those purchases that are dear to the consumers. These procurements are usually associated with high cost. In addition, they are regarded as ego-intensive, risky or complex, and call for extensive processing of information (CIT 2010). In this case, the World of Warcraft game software was selected as the high involvement purchase. The quality of the product is vital. In making both purchases, the five stages of the purchase decision process were involved. For both cases, the process started with recognition of the problem or need. For the high involvement purchase, there was need for enjoyment, while for the low involvement purchase, I was hungry. As an ‘aroused’ customer, I had to find more information regarding my purchases. Friends’ opinions, advertisements, company websites and media, provided information needed to make a decision. After getting the required information, I had to extensively evaluate the World of Warcraft game with regard to its attributes and prestige. There was little evaluation with regard to having a meal at McDonald’s. My decision to purchase the World of Warcraft game was influenced by the terms of sale, my past experience, and the product’s return policy. My decision to eat at McDonald’s was influenced by pleasantness of the experience, and the restaurant’s atmosphere. After both purchases, I expressed concern regarding my expectations and satisfaction that were derived from using the products. As stated earlier, there are five stages involved in the consumer’s buying process. These are need recognition, search for information, evaluation of available alternatives, a decision to purchase one of the alternatives and making the actual purchase, as well as providing feedback after the purchase (Kotler & Armstrong, 12). The decision to purchase the World of Warcraft software game was as a result of a need; the need for enjoyment. On the other hand, the decision to purchase a meal from McDonald’s was as a result of a problem; hunger. Before both purchases were made, I had to decide on the amount of information I would need. As explained by Belch and Belch (2007), it is important for consumers, including me, to carry out both internal searches and external ones. For the high involvement purchase, several sources of information were sought. Friend’s opinions, advertisements, specialist magazines and personal experience, formed sources of information for the restaurant’s case. During the evaluation stage, I had to choose between the available alternative products, brands, and services. There was to extensive evaluation the World of Warcraft game with regard to its attributes and prestige. There was little evaluation in connection with having a meal at McDonald’s. In the high-involvement purchase, there was provision of a good deal of information in relation to the positive attributes of the product (Consumer behavior, n.d). My decision to purchase the World of Warcraft game was influenced by the terms of sale, my past experience, and the product’s return policy. My decision to eat at McDonald’s was influenced by pleasantness of the experience, and the restaurant’s atmosphere. After buying the products, it was necessary to compare expectations and satisfaction garnered. As noted by Arndt, there is need to have a feedback loop (216). Post purchase evaluation is crucial in influencing future purchase decisions (Stávková, Stejskal, & Toufarová 277). There are numerous purchasing decisions that are made by consumers on a daily basis. As a result, a good number of large companies undertake research on consumer purchasing decisions. In addition, they also find out what time they buy, and why they buy. In n...

Updated on January 26, 2024

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