This paper circulates around the core theme of Consumer Decision-Making Process together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Consumer
Decision-Making Process
When consumers make a purchase, they
progress through a series of behaviors. The consumer decision-making process
describes those behaviors and the activities that take place at each stage. In
order to increase sales, marketers are looking at the five stages and trying to
find ways to influence the consumers as they progress through the CDM process.
The Internet is the most recent tool that
marketers are using to influence consumers. Discuss the impact of the Internet
on the five stages of the CDM process. What happens differently, or how does
the Internet use these processes to sell more efficiently? Look up the websites
in each of the five stages. Type each
stage and then answer the corresponding questions in well-developed
paragraphs.
Lastly, and most importantly, does your organization
use the internet as a tool to reach and influence their target market? Which of the five stages does your
organization try to achieve? How would
you rate your organization’s website from a marketing perspective?
Need Recognition— During the first
stage, the consumer recognizes a need that can be satisfied by a purchase. What
are ways that Internet marketers are attempting to trigger consumers`
recognition of needs? What are some things that overstock.com [www.overstock.com] is doing to activate
need recognition?
Alternative Search— Once
consumers realize a need, they begin to search for potential ways to satisfy that
need that provides details about the alternatives. There are five primary
sources of information: internal, group, marketing, public, and experimental
sources. How can the Internet provide information for consumers? Which of the
sources can the Internet influence? What impact does the information available
at Kelley Blue Book [www.kbb.com] have on
consumers` alternative search?
Alternative Evaluation— All the
viable alternatives that can satisfy the need are evaluated and compared
against each other. Consumers select the brand which best satisfies the need as
their intended purchase. Many times comparing products is difficult because of
complex product features, numerous available choices, and physical distance between
products in stores. Visit the Home Shopping Network [www.hsn.com] and select any product category
of your choice. How does this website help consumers compare product
alternatives?
Purchase Decision— The consumer
decides to make a purchase of the intended brand, purchase a different brand,
or postpone the purchase. The Internet plays a major role in consumers`
purchase decisions. What are some Internet features that influence the purchase
decisions? Visit Amazon.com and discuss some of the ways they influence the
consumer`s purchase decision. What role does UPS [www.ups.com] play in the purchase decision? Visit the site
of PayPal [www.paypal.com];
discuss the role of digital cash, credit cards, cash, and checking accounts on
the purchase decision.
Post-purchase Evaluation— The
consumer reviews the purchase and the entire purchase process of the product.
If consumers have doubts or second thoughts about a purchase, they experience
post-purchase dissonance. How does
eBay.com [www.ebay.com] allow
consumers to review the purchase process? What are Internet marketers doing online
to help customers avoid dissonance? Go to the website of a company with whose
product you have been less that satisfied.
What does the site do, if anything, to help you alleviate or avoid
dissonance? Is there anything else they could do? Discuss.
Assignment 2-1200 word
Market Segmentation
1. Go
to the Nielsen/Claritas website (www.mybestsegments.com)
and click on “ZIP Code Look-Up.†there you will find a demo that allows you to
type in a zip code of your choice and
find out what PRIZM clusters predominate in that geographic area.
a. What zip code and city did you look up?
What
do the findings tell you about the overall composition of potential customers within that zip code?
b. Based on the array of clusters
represented, what kinds of businesses might flourish within that
geographic area? Be specific. Why do you believe those businesses in particular would be
successful?
2. Go
to the SRI Consulting Business Intelligence website: (www.strategicbusinessinsights.com)
and go to VALS on the left column. Find the VALS survey under “Take the VALS Survey†and complete the questionnaire.
a. What were your results? Did your results surprise you? Why or why not? Do you see yourself as part of the
identified VALS segment?
b. E-mail
two or three other people in the class and discuss both your results and theirs. Who did you e-mail in the class? What were their results? Did they agree or disagree with their
results? What parts did they agree
with? Disagree with? Based on your e-mail conversations, do
you feel the survey actually captured
a relevant profile of yourself and your classmates? Discuss. (Do
not just
look at discussion postings but actually have a more in-depth e-mail discussion.)
c. How might each of these brands benefit
from the use of VALS as a psychographic segmentation tool and what segments
should each target
3. Discuss
how your own organization could use and benefit from this type of market segmentation information.
