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Consumer Marketing - High Involvement and Low Involvement Purchases - Assignment Example

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This paper under the title "Consumer Marketing - High Involvement and Low Involvement Purchases" focuses on the fact that luxury goods continue to be rather popular and continue to be purchased despite the problems brought about by the economic recession. …
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Consumer Marketing - High Involvement and Low Involvement Purchases
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Download file to see previous pages In this paper, the researcher shall discuss ‘high involvement processing and low involvement processing,’ which are two factors related to the field of marketing. The point of this essay shall be to identify which processing method is likely to be activated during the purchase of a luxury car. With the help of some of the marketing models, this writer hopes to present a thorough analysis of consumer marketing and its processes.
According to Silverstein & Fiske (2001), the luxury market is a significant segment in today’s marketplace. The increase in the consumption of luxury goods is due to a variety of social forces and business factors. Consumers are in a heightened state of emotionalism, thereby leading him/her to purchase more goods or services that not only satisfy physical needs but also emotional needs as well. The convergence of these two components has to lead to the rise in luxury goods consumption. On the other hand, manufacturers now have the capacity to produce more goods that almost equal the demand of the consumer.
When a consumer is highly involved with the purchase and there exist significant differences between brands, complex buying behaviour occurs. Such behaviour can be described to be complex when there are higher risks involved, characterized by significant financial commitments. Another characteristic of a high involvement purchase and complex buying behaviour is when the large differences among brands or products require the buyer to know a significant deal of information regarding the product to be purchased. Thus, when buying a luxury car, marketers have to thoroughly inform the consumer with detailed information about their potential purchase. This entails informing the consumer about the category of that the car belongs to, its important attributes, special features and so on. If marketers are to influence the purchasing decision of the consumer, then they should also motivate their sales staff to influence final brand choice.  ...Download file to see next pages Read More
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