Marketingand Marketing Strategy
Marketingand Marketing Strategy
Choosinga high and low involvement product & the five stage of thePurchase Decision Process
Ahigh involvement product refers to a product that requires a lot ofcustomer involvement and logic to convert into a sale. I choose a caras my high involvement purchase product since it forced me tosacrifice a lot of time and effort in order to search for the bestmodel. I was careful to spend considerable time and effort insearching for the right and most suitable model of car over theinternet. Owning a car is psychologically vital since it addressesthe social needs of an individual. It is a significant purchase sinceit requires extra attention, efforts, and time.
Lowinvolvement products do not require huge customer involvement andmostly they convert into a sale based on habit or reason. I choosenewspaper as my low involvement purchase product. It did not cost mea lot of involvement in purchasing a piece of newspaper. I have beenbuying a piece of newspaper almost on a daily basis for years.Therefore, I did not consider any risk into buying the piece ofnewspaper since it is one of my habit buying products. Lowinvolvement products rarely incorporate high attention since buyersare already aware of their specifics and properties.
Differencesbetween the ways of going through the purchase decision of the twoproducts
Whenpurchasing the high involvement product, I dedicated and sacrificedmost of my time, attention, and knowledge in choosing the best modelof mycar type. I was highly involved in the purchase since they werenotable differences between various models of my car type. I had tobe cautious in choosing the car since it is a significant product andits appearance portrays a lot about myself while I am in public. Isacrificed a lot of time searching for the best model over theinternet hence, I was able to choose the latest model of my car typeat an affordable price.
Onthe other hand, I did not put a lot of effort when choosing the lowinvolvement product-magazine. I just bought it without thinking aboutit since I was well familiar with it. In any case, I did not see anyrisk in purchasing the magazine since I have been doing it for years.This is a clear indication that low involvement products do not havecomplications hence, it is easy t choose and purchase them.
Purchasingbehavior refers to the behavior of a buyer when purchasing a certaingood or service. It incorporates purchase planning, negotiation,marketing, as well as post-purchase behavior.
Needfor recognition: This focus on what consumers want and they realizethat something is not as it should be Before I settled to buying mymodel of car I realized that I needed a car to travel to work, tourmost cities of the country, and feel compatible with my friends, mostof whom own cars (Hartine & Ferrell, 2012). Then I startedthinking the kind of model that I wan since I was aware that I wouldget quality service from the best model of my car type.
Searchfor product information: This process requires a consumer to lookfor alternative ways of solving his or her need. After I recognizedthe type of vehicle that I wanted, I started searching forinformation about it. I searched for its price, durability,availability, and the best manufacturer.
Productevaluation evaluation of alternatives. It calls for the need toestablish criteria for evaluation features or properties that buyerwants and does not want. As a marketer I would try to influenceconsumers by framing alternatives of either product (Hartine et al.,2012). Therefore, if a consumer is not satisfied with a certain modelof car or type of newspaper then he or she will have a chance ofreturning to the search phase
Purchasedecision: as a marketer I would choose buying alternative for the twoproducts, their package, method of purchase, where they can belocated (store) among others
Purchasethis may differ from decision, it has a time lapse between 4 and 5and it depends on the availability of either of the product
Post-purchaseevaluation Post-purchase behavior is most prevalent amongst buyersof high involvement products. Marketers can incorporate after salescommission, warranties for this process.
Marketerexplanation of using the Model of Consumer Buying Behavior for thetwo products
Asa marketer of both products there are several ways on how to use theprinciple of the model of consumer buying behavior. Amongst themerchants, the buying behavior has some connections and sometimesdiffers in a significant manner from that of non traders. Thedifferences may be based on different behavior patterns of consumersor on the type of tenders to choose. Nevertheless, concept ofconsumer behavior generally incorporates consumption or purchase ofeconomic goods that are observed (Hartine et al., 2012).
Consumerbehavior incorporate psychological processes that consumers undertakein order to recognize needs, make purchase decisions, make plans,interpret information, and implement several buying plans.
Asa marketer I should price the low involvement products at a low pricesince consumers of such products purchase them at low cost. Theyshould also not contain tiring information since they need extremelylittle search and decision effort and consumers mostly purchase theminstantly without a second thought. Marketers should be ware thatconsumers of high involvement products have limited decision makingsince they buy such products occasionally. Therefore, as a marketer Ishould offer detailed information on high involvement products sothat consumers can have detailed information about them. I shouldencourage and advise consumers to spend a lot of time seeking anddeciding on the best product to purchase. Such information can begathered from store personnel, manufacturing companies, and friendsand relatives who have had prior experience with the product inquestion.
Anymarketer should be aware of various categories that affect theconsumer buying decision process in order to develop a propermarketing strategy for their target market. These factors includepsychological, social, and persona. Personal factors are unique to acertain individual for instance, the age of an individual may play akey role to influencing him to purchasing either a low or highinvolvement product. Psychological factors include motives ofindividuals that help marketers develop a marketing mix, perception,ability and knowledge help change consumers’ behavior about acertain product, and attitudes of consumers towards a certain producthave immense influence to the success or failure of a company’smarketing strategy
Socialfactors include opinion leaders that many marketers use to markettheir products, role and family influences that continuously changehence forcing marketers to update information, reference group hassome degree of impact on a consumer purchasing decision depending ontheir association or involvement with such groups, and social classthat to some extent determines the quality, quantity, and types ofproducts that consumers purchase.
Hartine,M & Ferrell, O.C. (2012). MarketingStrategy.Cambridge: Cambridge University Press.