Marketing and Marketing Strategy Essay Example | Topics and Well Written Essays - 1000 words

Marketing and Marketing Strategy - Essay Example Choosing such a product takes less time because the customer has already made up his mind about what to buy even before entering the store thus it requires less research. Consumer Model For a high involvement model we go through the problem recognition stage, where we identify the problem, gather all the information regarding the price, alternatives available and the extent to which they solve the problem, evaluate all the possible alternatives and the finally choose one alternative and purchase the product. After the purchase we evaluate the purchase through its price, performance etc. For a low involvement product, we don’t necessarily go through all the stages. These are routine items that are bought on a daily basis and therefore don’t require any considerable thinking. We might recognize a problem but would not gather information. Similarly we might not look for alternatives. After the purchase has been made we made, post purchase evaluation might not be considered unless we really strongly about it. The Purchase Decision Process The Purchase Decision Process that a customer goes through is a 5-stage process. It should be noted that due to the different involvement nature of various products, some stages might be skipped for some products while other products involve customers going through all the stages of this process. ... engine, high gas consumption and rising frequency of maintenance costs made me reach the conclusion that I needed to cut my losses and change my car. Then began the Information Search phase where I looked for information on new and used cars that would fall within my budget and be less of a hassle to deal with. I gathered information from various car dealing websites as well as by asking friends and family about which car they would recommend I buy. Once I had gathered all the information I needed I made a shortlist of 5 cars from which I would be purchasing one. Evaluating the alternatives wasn’t easy but I was able to select a car that fitted the bill in terms of budget, fuel consumption, and environmental safety as well as in terms of additional equipment such as audio systems and navigation features. Once I had purchased the car I had entered the ‘Post-Purchase Evaluation’ phase. I decided that I was satisfied with my purchase. The Purchase Decision Model for the Low Involvement Product is not quite as complicated as it was for the car. I felt hungry so I stopped at the convenience store on the way back from work, grabbed a pack of my favorite crisps and was satisfied with how they tasted. High Involvement Good In a high involvement purchase the consumers goes through a lot of influences such as culture, social class, personal, family and situation. Back to our previous example of cars, culture really influences the buying behavior such as in Japan people prefer hybrid cars due to their culture of treating nature respectfully. Similarly social class very much dictates the decision. Rolls Royce is only for the very elite, mostly members of the royal family. These combined with the personal, family and situational factors influence the buying behaviors. Also