I will pay for the following essay Unit 3 assignment. The essay is to be 1 pages with three to five sources, with in-text citations and a reference page.
For low cost items like milk cartons the past experiences with various brands is enough. However for high value items like car the consumer also performs external search like searching the net, asking a car dealer or asking his friend and relatives about their experiences with a particular brand.
Alternative Evaluation – After the search has been completed consumer tries to evaluate the different brands both on the basis of objective or rational attributes of a brand and also the subjective or emotion factors such as prestige. While purchasing a car. the family doesn’t take only rational decisions but also tries to show off the status of the family by buying a brand which is associated with luxury.
Purchase Decision: While making the purchase the consumer considers the following factors – from whom to buy, when should he buy and whether he should buy at all or not. Many factors can make or break the sale at his point like store atmosphere, past experience of consumer etc.
In the case of high definition television my family will come in the bracket of late majority. They will buy a product only when it has been in the market for some amount of time and has been used by a large number of people.
Differentiation – The market value which the company offers should be differentiated form other firms which are present in the market. This is the process of differentiating the product from the competition.
Positioning – One the offering has been decided upon it needs to be positioned in the minds of the customers. In order to do this the firm has to devise a proper marketing strategy in order to position itself in front of the targeted customers.
Behavioral approach of segmenting customers is the one in which customers are classified in to different groups based on their knowledge of a product the use of the product or response towards a