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Marketing and Marketing Strategy - Coursework Example

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Trident University International Course No: MKT301 Term: Winter 2012 Module No: Module One Words: Brand Names High involvement: Automobile (Toyota Corolla Fielder) Low Involvement: Newspaper Name: Name of Professor: Date: 4th May, 2013 Question 1 When I embarked on choosing the products to buy, there are several considerations that I made…
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Marketing and Marketing Strategy
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Download file to see previous pages The first product that I choose was an automobile. This was a high involvement purchase. This is because the product was expensive and would have a significant impact on my life. Moreover, this was a product that I had to spend a considerable amount of time and also effort searching for. This was also so because there were significant differences between the brands that were available at the time in terms of their performance and quality ("Indmedica - CyberLectures - High Involvement Purchase Decisions", n.d., p. 2). However, the second product that I chose, newspaper, was a low involvement purchase since the product was that which is habitually purchased and therefore the decision of choosing it required very little effort. It was also a low involvement purchase because the newspaper had insignificant effect on my lifestyle and was not that an important investment. 1st Product: Automobile The following are the 5 buying decision process that I followed in buying this product. a) Problem recognition This is the stage I realized that I actually needed a car. I would want to conveniently travel to my job place every morning but could not do so as I did not have a convenient means of transport. b) Information search This is where I started looking for what could solve my transport problem. I looked for information on the convenient means that I could use to travel to my workplace and concluded on buying a car. c) Evaluation of alternatives Here, I took into consideration all the car models that were available and which one of them would best fit my needs. I also considered the alternatives that were available for me including their prices and the shops selling them. d) Purchase decision After all the considerations and consultations, I decided to buy a model of my choice. This is where I also walked to the shop that I had chosen and actually paid for the car. e) Post-Purchase evaluation This I did after the purchase. I evaluated the car that I had bought; its importance and how convenient having it would be. I also confirmed that I had made the right choice. 2nd Product: Newspaper I only followed two processes for my second low involvement purchase. a) Problem recognition This is where I discovered my need for the newspaper and decided to buy one. b) Purchase evaluation Here, I went straight to the nearest and easily accessible shop and bought the newspaper that I wanted. Question 2 My first purchase was a high involvement purchase and this meant that I had to follow all the processes of consumer purchase. I had to make sure that I had put into consideration all the facts and information concerning the product that would make me chooses the right one. Unlike the first one, the automobile was very expensive and therefore there was no room for mistake in my purchase. This required me to carefully evaluate all the then available alternatives and make a solid decision based on facts considerations. In buying this high involvement product, automobile, I had to first look for information after identifying my problem. I also had to evaluate all the possible alternatives before making my final purchase. Contrary to this, for the second low involvement purchase, newspaper, I did not have to do a lot. This was a product that I usually bought so I knew what I needed. The only thing that I wanted was a shop that was nearby and a place where I could easily; conveniently and quickly buy the newspaper. For these reasons, unlike ...Download file to see next pagesRead More
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