EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461427
Author: Armstrong
Publisher: YUZU
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Chapter 6, Problem 6.7CTE
Summary Introduction
To discuss: A brief report to a business person by using the concept regarding the business buyer behavior.
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Effective marketing requires an understanding of the prospective buyers’ buying process (i.e., purchase decision process). Choose a recent purchase decision you made to use as an example. Distinguish the stages of the buying process and explain the key issues of each stage as they relate to your experience.
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- Consider are recent purchase you made online. It could be anything from technology products, household items, clothing, or even a service for entertainment. Be sure to describe the item you purchased and answer each of these questions in the buying process stages: Problem Recognition What was the rationale for needing or wanting the product? Information Search What information did you research on the products? How many different product options and competitors did you research? Evaluation of Alternatives How did you find the website to buy your purchase and what site did you purchase from? Purchase Decision How was the product promoted online and what information was included? Did you read the reviews and was this a part of your decision-making process to buy the product? Post-Purchase Evaluation Did the online purchase solve the problem?arrow_forwardPlease answer according to the given questionarrow_forwardIntroduction to Marketing Compare the institutional and government markets and explain how institutional and government buyers make their buying decisions. Also explain the major factors that influence business buyer behaviour and list and define the steps in the business buying decision process ?arrow_forward
- — Answer the question properlyarrow_forward1. EXPLAIN THE STAGES OF CONSUMER BUYER DECISION PROCESS AND DESCRIBE HOW YOU OR YOUR FAMILY WENT THROUGH THIS PROCESS IN PURCHASING A JOLIBEE VALUE MEAL2. WHAT ARE THE DISADVANTAGES AND ADVANTAGES OF WEB BASED SURVEY OVER TRADITIONAL SURVEY RESEARCH?3. HOW DO INSTITUTIONAL AND GOVERNMENT MARKETS DIFFER FROM BUSINESS MARKETS?arrow_forwardwhat is an analysis approach that attempts to determine the impact of different factors (price, promotion) on consumer’s individual choices (joining, cross buying, leaving).arrow_forward
- What is your experience as a customer or consumer regarding the three buying situations: straight rebuy, modified rebuy, and new buy? And how did the buying situation pertain to your experience as a customer or consumer?arrow_forwardMarket Segmentation and Your Purchase Habits In this learning activity, we will develop skills related to explaining market segmentation and segmentation variables, and their relevance to marketing. A market segment is a piece of the market. Market segmentation involves aggregating prospective buyers into groups that have common needs and who respond similarly to marketing programs. They are similar in their consumption behaviour, attitudes, and target market profiles. Find an example product category from your life or your purchasing habits that fits into each of these four segmentation categories. Mass marketing strategy: Marketing a product with a broad appeal to the entire market without any product or marketing differentiation This is uncommon and can be seen with utility companies. Segment marketing strategy: Marketing a range of different products and brands to specifically meet the needs of an organization's varied target markets. This is common with large companies such as car…arrow_forwardHow do marketers of watches use marketing and advertising to reinforce consumers to buy them? Give specific examples.arrow_forward
- assess your own buying behavior. How do you go about deciding whether to buy or not to buy the product? Cite examples.arrow_forwardEvery purchase by a consumer is the end- result of a process ". Explain this statement with reference to consumer buying decision process . why should a marketer understand this process ?arrow_forwardDefine the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?arrow_forward
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