mkt 618 3-2 homework

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Apr 3, 2024

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Running Head: 3-2 HOMEWORK 3-2 Homework: Retailing vs. E-Tailing Jordan Sadler Southern New Hampshire University MKT 618: Marketing Analytics Professor Chellberg

Running Head: 3-2 HOMEWORK Introduction There are many differences to consider in regard to evaluating the customer experience when it comes to making a purchase at a brick-and-mortar retail store versus purchasing with an online retailer. Some products are easy for consumers to purchase online without the need to physically interact with them in-store first, such as household items & toiletries and other low involvement items that consumers are familiar with. But other more high involvement purchases require the need for the consumer to go to the brick-and-mortar retail store to complete the purchase. Brick-and-mortar stores have the ability to provide consumers with immediate customer service, which is often what’s needed for consumers to make their final purchase decision. Which avenue a consumer decides to take, retail or e-tail, will depend on what type of purchase is being made and the level of involvement in the purchase decision. As a consumer, I’ve realized that there are several typical steps that we will go through when making a purchase decision. The main steps that occur in the decision-making process before making a purchase decision are: recognition of a need or problem, information search, and comparing alternatives. The recognition of a need or problem stage is what initiates the decision- making process, and this is when consumers realize that they have a need for something. The information search stage is where consumers research different things related to their need to gain as much knowledge and info as possible to be able to make product comparisons. And the comparing alternatives stage is where consumers consider all of the different alternatives and compare the different brands and products that are available to best fulfill their need. After following through those different steps, all that is left to do is actually making the purchase itself ( Cognitive Theory – the Decision Making Process , 2017). These are definitely the steps that I found myself going through during my most recent major purchase experience.

Running Head: 3-2 HOMEWORK Customer Experience Analysis I recently realized that I had the need for a new living room television. The television that I had prior was a 50” Roku TV and it was the first thing that I bought when I moved out of my parent’s house and got my own apartment. I had only had this television for a little over two years before the graphics randomly started to go out and it looked as if someone had thrown something at the TV and caused the graphics to mess up. I tried to ignore the messed up graphics for as long as I could, but after about a month I had broken down and decided that I absolutely needed an upgrade and to get a new TV for my living room because that is the room where I spend the most time in my home. Once I finished step one in the decision-making process, which is recognition of a need or problem, I moved on to step two, which is information search. Once I recognized that I was in need of a new television, I went on and did a lot of research myself to decide which products were the best options for what I needed. I didn’t really know much about TVs going into this search, but all I knew is that I wanted a better TV than what I had prior. So, going into the search I knew that the must haves on my list were that I wanted a bigger size TV, better quality, longer lifespan, Smart TV capabilities, etcetera. After I had my list of must haves, I started digging online to see what TV brands had the best offerings to meet my needs. When it came down to selecting a specific TV brand, for the most part I chose to look at brands that I was already familiar with and had experiences with. First, I considered another Roku TV because that was the brand that I was replacing, and I knew from experience that it was probably one of the cheapest options available. But based on the actual product experience of my last Roku TV, I was not pleased with it so I decided that I would rather spend more money on a better quality TV that will last me longer. So, next I considered a Vizio brand TV because I also

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Running Head: 3-2 HOMEWORK already owned a TV from their company and have had a great experience with them. The television in my bedroom is a Vizio flatscreen TV that I’ve had for over 8 years now and have never had any issues with, so Vizio was high on my list because I considered them the most dependable based on my own personal experience. And lastly, I considered a Samsung TV for no reason other than the fact that I’m pretty familiar with the Samsung brand and figured that they would have some good options as well. After I completed my information search, I moved on to the comparing alternatives stage. Once I had my top few brands selected, I went into comparing different specific TV models from each brand. Application of Metrics and Calculations Once I selected specific TV models to consider from each brand, I began comparing metrics like price differences between different retailers and e-tailers. I decided that I wanted a 65” Smart TV, so I looked at the different models of that between each brand and retailer. I looked at several different retailers and e-tailers. The main brick-and-mortar retailers that I considered were Walmart, Target, and Best Buy. I also considered different online e-tailers like Amazon or purchasing directly from the brands online store. But I found that when looking at the prices of specific models between retailers, the prices were typically around the same. If it was the same model television, each retailer had them priced the same with maybe a few dollars difference. But no price difference was major enough for me to decide that I had to get it from a specific retailer because it was such a good deal. Roku had one option available priced at $300. Vizio had several options available from $350 all the way up to $750. And Samsung also had several options available from $400 all the way up to over $1,000. With such a wide variety of different price options between brands, I decided to create a budget for myself and to stick with that, so I determined that I wouldn’t spend

Running Head: 3-2 HOMEWORK over $450 which helped me narrow my decision down. There were only a handful of options available between each brand within my price range, so those became my top options to make my final purchase decision. Final Purchase Rationale When it came time to make my final purchase decision, the factors that I considered most heavily were price, other customer reviews, and the speed in which I would receive my new item. Price was probably the most important factor at the time because I knew that I really didn’t want to go over the budget that I had set for myself, but I also didn’t want to be too cheap and end up with a product that I wasn’t fully pleased with. But once I found the specific model television that I wanted, price wasn’t necessarily an issue because the model was basically priced the same between retailers and I knew that the price was within my budget. Next, I also heavily relied on other customer reviews to make my final decision. I always look to customer reviews for any of my new product purchases because I want to know how other customer experiences were and I want to get a real and honest review of the product or service. I’ll read a mixture of good and bad reviews so that I can decide if anything that I read was enough to sway my purchase decision. And the last thing that I considered was how quickly I would be able to get the new product. I was super excited to be getting a new TV and I wanted to be able to get it pretty much immediately. Because of this, I ended up forgetting about any online retailers I was considering because I knew that it would take several days for the new TV to get shipped to me. Then, I started looking at in-store pickup options through brick-and-mortar retailers. Luckily, I found the exact 65” Vizio Smart TV model that I wanted at a Walmart nearby and it was available for in-store pick up that very same day, so that is the final decision that I went with.

Running Head: 3-2 HOMEWORK References Cognitive Theory – The Decision Making Process . (2017, May 7). Wordpress. https://reaabbotthuckin476bmt.wordpress.com/2017/05/07/cognitive-theory-the-decision- making-process/#:~:text=A%20cognitive%20purchase%20decision%20results

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