Buying Behavior & Market Analysis
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Select TWO products which you have purchased, ONE a High Involvement purchase, and ONE a Low Involvement purchase, in the following product categories:
HIGH INVOLVEMENT (select ONE from the following categories):
AIRLINE FLIGHTS
CARBONATED SOFT DRINKS
EDUCATIONAL SERVICE
EXERCISE EQUIPMENT
FUNERAL SERVICE
LOW INVOLVEMENT (select ONE from the following categories):
AIRLINE FLIGHTS
CARBONATED SOFT DRINKS
EDUCATIONAL SERVICE
EXERCISE EQUIPMENT
FUNERAL SERVICE
(Yes the categories are the same for both the high and low involvement purchases. This is not a mistake)
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 the first product you chose was a High Involvement purchase and why the second 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 buying each product. 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 marketer of each of the two products that you have discussed in the previous pages. 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. (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.
E
the brand names of the two products you chose for each type of involvement, e.g. "High Involvement: Airline Flights: Delta. Low Involvement: Exercise equipment: Bowflex".
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.
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:
Segment a market, including explaining what is meant by segmentation and why segmentation can be useful in marketing.
Influence purchase probabilities as indicated in the relevant presentation.
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Solution Summary
Approx 1,280 words with 4 references
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High Involvement versus Low Involvement Purchase
The first item I chose was a High Involvement purchase because it was only after careful thinking did I chose the BowFlex Xtreme SE Home Gym (2011). It was not so much the cost of the item as whether I would utilize the benefits of the equipment. This took research to see what other home gyms were out on the market and how they compared to this one. The second one I chose was a Low Involvement purchase because it is about carbonated soft drinks of which I drink Sprite. There are times I drink Coca-Cola or Mug Root beer, but as a habit, I like the clear, crisp, and clean taste of Sprite.
Five Stage Model of the Purchase Decision Process
In purchasing the High Involvement purchase of Exercise Equipment - the BowFlex Xtreme SE Home Gym, here are the five stages of the purchase decision process:
1) Problem recognition - The need was for a home gym I could use at home instead of running to an outside gym. I do not have a lot of time due to work constraints.
2) Information Search - I searched for information on all home gyms such as Sunny, Valor, and BowFlex. I found that BowFlex Xtreme SE Home Gym was the best.
3) Evaluation of Alternatives - The BowFlex Xtreme SE Home Gym has all that I want in a home gym. I was able to go to a nearby weight-lifting store that happened to have that very model I was interested in. I was able to try it out.
4) Purchase Decision - My intent was to purchase what would e closest to what I needed not necessarily the top brand.
5) Post Purchase Behavior - I had heard that there were other brands just as good and less expensive, but I had gotten a good deal and a great warranty. If I do not use it eventually, I will get my money out of it when I re-sell it.
In purchasing the Low Involvement purchase of carbonated soft drinks - Sprite, here are the five stages of the purchase decision process:
1) Problem recognition - The need was for a non-caffeine soft drink that ...
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