9-29: From a group of three. Pick a product and develop a marketing plan based on either cognitive or habitual decision making. What are the major differences in emphasis between the two perspectives? Which is the most likely type of decision-making process for the product you selected?
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- Answer the following questions for (i) Dysonbladeless fan, (ii) space flight, (iii) cell phone–based GPS.a. Is the product an innovation? Justify youranswer.b. Using the student body on your campus asa market segment, evaluate the perceivedattributes of the product.c. Who on your campus would serve as opinionleaders for the product?d. Will the early adopters of the product use theadoption process (extended decision making),or is a simpler decision process likely?Consumer Decision Making Process: 1. Problem Recognition 2. Information Search 3. Alternative Evaluation 4. Outlet Selection and Purchase 5. Post Purchase Processes Use the purchase of eggs and describe actions one would take at each stage of the consumer decision-making process above, in detail. Would one skip any of these stages? Which stage is most important for marketers? Does this depend on which product is being marketed?We have decided to start a new business called ABC headphones. We will be selling a variety of diff head phones. 1- Select a positioning strategy most suitable for your product idea. Explain your choice. 2- There are 3 types of customer decision making processes, real, impulse and habitual. Select the most applicable to your product. Explain your answer. 3- A product has distinct layers,namely core, tangible, augmented, potential and the product image. Explain each layer and how it applies to ABC head ohones
- Think of a product you recently purchased andreview your decision process. Why did you need or wantthat product? How did the product’s marketing influenceyour purchase decision? How did you investigate theproduct before making your purchase decision? Did youexperience cognitive dissonance after your decision?Compare and contrast the difference between high and low involvement in the decision-making process.Outline how brands can increase involvement with customers. Using a major purchase of your choice,apply and evaluate the high involvement decision-making process to each of the stagesWhat determines if a consumer uses an extended decision making (cognitive) process? What would be an example of this type of consumer decision situation? What kind of consumer decisions are most frequently used? Discuss marketing implications for habitual decisions vs, Cognitive decisions?
- a) Compare and contrast the difference between high and low involvement in the decision making process. Outline how brands can increase involvement with customers b) Using a major purchase of your choice, apply and evaluate the high involvement decision-making process to each of the stagesDescribe an example in which marketing added value to someone life. Be specific about how the value was implemented. Explain how the decision made was impacted by a marketing campaign and propose ideas for what the strategy was behind that campaign. Provide specific examples to support the explanation.Briefly explain how the (Kanye West "Ye" STEM PLAYER) STEM Player’s Direct to Consumer sales model (only being available through their Web site) might positively or negatively affect their target market during the Purchase Decision stage of the buyer’s decision-making process. Answer with at least two (2) well explained points.
- First, quickly at a glance, what TV do you think you would buy? On what criteria do you think you based that decision? Try these decision-making processes, see what brand results for each, and see how confident you feel about the resulting brand suggested from each approach: What attribute do you find least informative? Eliminate that row. Continue to do so until a clear brand winner emerges. Is there a brand of TV that seems weaker than the others on some attribute you care about? Eliminate that brand. Continue until an obvious choice results. If you made a price-based decision, would you be happy? How would your final brand choice define you? How similar was this thought process to your natural analysis? How can you find out if your consumers think along these lines?What is the decision matrix? What are the weight factors used for?As a Marketing Trainer, can you explain McKinsey’s Consumer Decision Journey with the help of an example to the new joiners of your organization?