Assignment:
Influencing Purchase Decisions
You have explored a variety of factors that influence the consumer decision-making process and outcome. The consumer's decision whether to purchase a product is an important moment for most marketers since it denotes whether a marketing strategy has been effective or missed the mark and whether a marketing plan has been successful.
In this assignment, you will refer back to some of the activities you completed throughout the module. You will apply what you have learned so far by analyzing how consumers make decisions about a product and the implications for you as a marketer when developing marketing strategies for your chosen product.
Instructions
You will continue to focus on your chosen product and market for this course. In this part of the assignment, as a marketer of your chosen product, you will demonstrate how your understanding of the behaviour of a typical consumer during the five stages of the decision-making process will influence your marketing strategy and the development of a successful marketing plan.
Follow the specific instructions to each part of the assignment and complete all sections as required.
Section 1: Consumer Decision Making -Process
Prepare a 5-6-page, doubled-spaced report addressing the following questions:
1. As a marketer, do you have the ability to control desires or create a need for your product? (Include an example.)
2. Identify the specific characteristics of your product that would make intensive pre-purchase search likely. Using your chosen product, investigate the various types and sources of information available to a consumer. How would you as a marketer improve the types of information and sources of information available to potential customers for pre-purchase searches? Discuss perceived risks associated with the purchase decision, and strategies for mitigating those risks.
3. During your research you would have come across a number of brands. Demonstrate your understanding by identifying brands within your product category and classifying them into your own evoked set, inept set, and inert set. As a marketer what strategies would you use in an attempt to place a product in a consumers evoked set after it has already been rejected?
4. Comment on why evaluation criteria used by customers is important to a marketer of your chosen product? How can marketers influence the rating of their products?
Section 2: Consumer Decision Making -Outcome
Prepare a 3-4-page, doubled-spaced report containing the following answers.
1. How significant is the choice of brand or outlet to the marketer of your chosen product?
2. What might lead to customer satisfaction or dissatisfaction with your chosen product? Outline how you would manage consumer dissatisfaction and provide positive reinforcement to consumers after the purchase of your product to reduce their dissonance? How would you determine whether a consumer is satisfied with your product and whether there will be a repeat purchase?
3. As a marketer of your chosen product, describe how you would develop trust and a long-term relationship with your customers?