Assignment:
1. Key Concept: The consumer decision making process involves 5 steps. List these five steps. Then more fully define Step 5-Post Purchase Behavior with special attention given to defining what is "cognitive dissonance." Explain, with examples, what companies are doing to deal with this post-purchase behavior. Another words, what strategies are they using to minimize cognitive dissonance. A minimum of three examples, fully explained, is required.
2. Key Concept: There are four sets of factors that affect the consumer decision making process. They are social factors, cultural factors, individual factors and psychological factors. When considering psychological factors, one area of focus is on "perception."
Define the marketing concept of "perception" and its corresponding aspects such as selective distortion, selective exposure, and selective retention.
If a typical consumer is exposed to more than 2500 advertising messages a day but notices only between 11 and 20, explain why this is true. Then identify 5 advertising messages you recall easily from personal exposure and explain why you remember them. Justify your answers by using proper marketing terminology.
3. Key Concept: Marketers segment their markets and then choose which segment, or segments, to target with their marketing mix. Then based on the target market(s), they can develop the product's positioning. Position is the place a product, brand, group of products, or even the entire company itself is perceived to be in the consumer's mind. A tool called, "Perceptual Mapping," is a means of displaying in two or more dimensions, the location of a business in relation to its competitors and/or the location of products, brands, and other aspects of the business in relation to its competitors. This is a very important tool/model to be able to utilize. Refer to the additional supplemental information provided to be able to develop your own example of perceptual mapping, based on the guide provided within the attachment. You can choose your own company
4. Key Concept: When considering marketing research once a researcher has decided on how they will collect primary data, their next step is to select the sample procedures. Briefly define marketing research, its steps, and then more comprehensively explain the difference between probability samples and nonprobability samples and types of errors.
Format: Title Page required, pages should be numbered. Overall follow APA guidelines for papers, but no abstract required. Remember each answer is on its own page.