Consumer psychology and analysis of database of customers are important part of market strategy which helps one to know the changing preferences of the customers in the rapidly changing times. Analysis and identification of the changing trends of the customer requirements are…
Download file to see previous pages...
The behavioral pattern of the people, in the decision making process of buying products and services, helps provide important clues for preparing appropriate market strategies so that maximum mileage could be garnered for the products. The paper is an attempt to study the consumer psychology that culminates in purchase of goods.
Two consumers, who had bought cars, were studied for the learning processes that led to their buying decision vis-à-vis five major factors: need recognition; information search; evaluation of alternatives; purchase; and post purchase dissonance. The consumers had come from diverse socio-economic background and their purchase psychology would significantly provide a wider spectrum of important clues for marketers. The interviews consisted of same set of questions regarding their pre and post purchase psychology and the factors and issues that had considerable impact on their decision making process. Consumer A belonged to an affluent class and was working in a multinational company as a System Analyst. He had bought a Mercedes’ Benz. Consumer B was a Teacher in a semi urban locality and belonged to a middle class society. He had bought Honda City.
As per their responses, it was found that both the consumers had different need recognition that was driven by their beliefs, attitude and lifestyle imperatives. Consumer A was conscious of his social status and wanted a car that would add value to his lifestyle. He therefore, wanted a high end, flashy car that would also give good return vis-à-vis his investment. Consumer B’s requirement was primarily need driven because of the long and time consuming public transport to his workplace. He, therefore, required a sturdy, low investment and comfortable family car that would be economic as well as reliable. He was, therefore looking for a medium range, practical and comfortable car.
The information search
...Download file to see next pagesRead More
Cite this document
(“Markting 3000 Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1564006-markting-3000
(Markting 3000 Essay Example | Topics and Well Written Essays - 1250 Words)
“Markting 3000 Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/miscellaneous/1564006-markting-3000.
In the advent of this communication device from the early years and forward is the emergence and endurance of Nokia as a brand. This Finnish company was smack in the middle of the advances early on as mobile communication has evolved ever so swiftly in a matter of years.
These steps form a basis for marketing activates. It is essential to gain a brief knowledge on these to be able to understand their importance in marketing process.
Segmentation: This step involves researching to find out what kind of
For example, Microsoft is an established brand so that people may not think twice before they take decisions about purchasing a Microsoft product. Even without testing or watching the demo, some people purchase
For example, ENTJ, this type of persons are the ‘Entrepreneurs’. Likewise 16 possible combinations have been framed. MBTI can not be used as the employment selection tools.
Conscientiousness: It is the key determinant of the organizational citizenship
After using iphone for a week, I have realized that the utility of this phone is much more than the advertised claims. In my opinion, Apple failed to advertize this product properly when we consider the utility of
What is perhaps surprising about Gates is that he was a college dropout. He is famous like other college dropouts such as Steve Jobs and Mark Zuckerberg for becoming billionaires after dropping out of college. What these
The woman notices him staring at her and the man feels ashamed of himself. The woman approaches the man with a slap on his face but then starts to flirt with him. When he closed his eyes and almost started to
1 Pages(250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Markting 3000 for FREE!