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Buyer Behavior

                                                     MKTG 1052
                               PROJECT GUIDELINES
                                   (Part Three)

                                                                   1
BB Guidelines (Part One) copyright of BBAdvisor
Continuing from Part Two..
• This section (Part 6 of the report) deals
  with the Consumer Decision Making
  Processes

• You need to be familiar with the key
  concepts from Chapters 2-7



                 BB Guidelines (Part Three)   2
                  copyright of BBAdvisor
Consumer decision making
    Instruction (as per                           Interpretation/ what needs to be
    guidelines)                                   done:

      6.1                                         Specify the level of involvement (you need to
                                                  present logical argument - remember its not the
      What type and amount                        product alone but how the customer responds
      of information about                        during the process of decision making and how
                                                  much effort, time and money is spent on
      this product do its
                                                  selecting the right alternative. Type of
      consumers use? How                          information = show examples of what kinds of
      involved are they?                          sources are considered. How much effort is
      Which level of decision                     expended in comparing brands and what are
      making are they in?                         the costs and benefits of search? (read
      Would the brand be                          chapters 3 and 4)
      considered to be part                       Use the framework of the evoked set to identify
      of this segment’s                           if your brand is part of the evoked set; briefly
      evoked set?                                 explain why or why not; consider competitor
                                                  brands as to where they fit in.
                                                                                                     3
BB Guidelines (Part One) copyright of BBAdvisor
Consumer decision making
 Instruction (as per                              Interpretation/ what needs to be
 guidelines)                                      done:
 6.2                                               This covers the topic on Alternative
             How do consumers                      Evaluation (Chapter Five)
             evaluate different
             brands in this                        Discuss the types of evaluative criteria
             product category?                     used; evaluative criteria must be specific to
             Which evaluative                      the nature of the product. Rank the
                                                   evaluative criteria in terms of their
             criteria are possibly
                                                   perceived importance when the consumers
             used in making a                      are comparing brands.
             purchase decision?
                                                   Set up a hypothetical table showing how
                                                   the different brands are compared in terms
                                                   of importance and rating of the different
                                                   attributes. (read chapter 5)

                                                                                                   4
BB Guidelines (Part One) copyright of BBAdvisor
Consumer decision making
    Instruction (as per                           Interpretation/ what needs to be
    guidelines)                                   done:
    6.3
    How do consumers go                            Shopping: Is purchasing store based or
                                                   virtual? The material is from Chapter 6.
    about shopping for this
                                                   Discuss some of the factors what facilitate
    product?                                       or inhibit the purchase of the product.
                                                   If the purchase is store based you can infer
                                                   on the types of retailing strategies and
                                                   even store environment that can facilitate
                                                   purchases. Is the purchase impulse? If it is
                                                   high involvement how can store personnel
                                                   or even the web




                                                                                                  5
BB Guidelines (Part One) copyright of BBAdvisor
Consumer decision making
    Instruction (as per                           Interpretation/ what needs to be
    guidelines)                                   done:
    6.4
    How likely is post                             Refer Chapter 7.
    purchase behaviour                             This depends to some extent on the nature of
    likely to occur? If so, how                    the product (high involvement purchases will
    can it be reduced?                             have a higher degree of post-purchase
                                                   implications)
                                                   Explain what happens after the purchase in
                                                   terms of how consumers handle
                                                   satisfaction/dissatisfaction- what are they likely
                                                   to do? What about ‘cognitive dissonance?’
                                                   Reduction: briefly describe what both the
                                                   consumer and the marketer do to reduce post-
                                                   purchase anxiety.



                                                                                                        6
BB Guidelines (Part One) copyright of BBAdvisor
Consumer decision making
    Instruction (as per                           Interpretation/ what needs to be
    guidelines)                                   done:
    6.5
                                                   Refer Chapter 7.
    How do consumers                               Consider the disposal in terms of trade-in for
    dispose of this product                        future upgrades.
    after its usage?                               Or there could be green/ environmental
                                                   issues (depending on the brand you choose)




                                                                                                    7
BB Guidelines (Part One) copyright of BBAdvisor
Consumer decision making
    Instruction (as per                           Interpretation/ what needs to be
    guidelines)                                   done:
    6.6
    Loyalty- Do potential                          Refer Chapter 7.
    segments differ in their                       Here you need to contrast different loyalty
    loyalty to the existing                        behaviors between the different segments.
    product? Are brand-loyal                       For example some segments might be loyal
    purchases encouraged?                          because of price promotions; others
    How?                                           because they are loyal to the brand per se.
                                                   Briefly explain how the marketer develops
                                                   marketing programs to create and sustain
                                                   brand loyalty- give some examples.




                                                                                                 8
BB Guidelines (Part One) copyright of BBAdvisor

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BB Project Guidelines (Part Three : Consumer Decision Process)

  • 1. Buyer Behavior MKTG 1052 PROJECT GUIDELINES (Part Three) 1 BB Guidelines (Part One) copyright of BBAdvisor
  • 2. Continuing from Part Two.. • This section (Part 6 of the report) deals with the Consumer Decision Making Processes • You need to be familiar with the key concepts from Chapters 2-7 BB Guidelines (Part Three) 2 copyright of BBAdvisor
  • 3. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.1 Specify the level of involvement (you need to present logical argument - remember its not the What type and amount product alone but how the customer responds of information about during the process of decision making and how much effort, time and money is spent on this product do its selecting the right alternative. Type of consumers use? How information = show examples of what kinds of involved are they? sources are considered. How much effort is Which level of decision expended in comparing brands and what are making are they in? the costs and benefits of search? (read Would the brand be chapters 3 and 4) considered to be part Use the framework of the evoked set to identify of this segment’s if your brand is part of the evoked set; briefly evoked set? explain why or why not; consider competitor brands as to where they fit in. 3 BB Guidelines (Part One) copyright of BBAdvisor
  • 4. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.2 This covers the topic on Alternative How do consumers Evaluation (Chapter Five) evaluate different brands in this Discuss the types of evaluative criteria product category? used; evaluative criteria must be specific to Which evaluative the nature of the product. Rank the evaluative criteria in terms of their criteria are possibly perceived importance when the consumers used in making a are comparing brands. purchase decision? Set up a hypothetical table showing how the different brands are compared in terms of importance and rating of the different attributes. (read chapter 5) 4 BB Guidelines (Part One) copyright of BBAdvisor
  • 5. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.3 How do consumers go Shopping: Is purchasing store based or virtual? The material is from Chapter 6. about shopping for this Discuss some of the factors what facilitate product? or inhibit the purchase of the product. If the purchase is store based you can infer on the types of retailing strategies and even store environment that can facilitate purchases. Is the purchase impulse? If it is high involvement how can store personnel or even the web 5 BB Guidelines (Part One) copyright of BBAdvisor
  • 6. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.4 How likely is post Refer Chapter 7. purchase behaviour This depends to some extent on the nature of likely to occur? If so, how the product (high involvement purchases will can it be reduced? have a higher degree of post-purchase implications) Explain what happens after the purchase in terms of how consumers handle satisfaction/dissatisfaction- what are they likely to do? What about ‘cognitive dissonance?’ Reduction: briefly describe what both the consumer and the marketer do to reduce post- purchase anxiety. 6 BB Guidelines (Part One) copyright of BBAdvisor
  • 7. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.5 Refer Chapter 7. How do consumers Consider the disposal in terms of trade-in for dispose of this product future upgrades. after its usage? Or there could be green/ environmental issues (depending on the brand you choose) 7 BB Guidelines (Part One) copyright of BBAdvisor
  • 8. Consumer decision making Instruction (as per Interpretation/ what needs to be guidelines) done: 6.6 Loyalty- Do potential Refer Chapter 7. segments differ in their Here you need to contrast different loyalty loyalty to the existing behaviors between the different segments. product? Are brand-loyal For example some segments might be loyal purchases encouraged? because of price promotions; others How? because they are loyal to the brand per se. Briefly explain how the marketer develops marketing programs to create and sustain brand loyalty- give some examples. 8 BB Guidelines (Part One) copyright of BBAdvisor