Decision Making - Assignment
Added on 2021-05-31
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DECISION MAKING 1DECISION MAKINGBy
DECISION MAKING 2Institution Course Date Information for prioritising image/brand decisionsNetflix TelecommunicationsIntroduction Brand manager's objectives help individuals, i.e. planners or other stakeholders todevelop goals that measure whether the objectives can be met over the engagementperiod(Armstrong, Kotler, Harker, & Brennan, 2015). Managers should have SMART goals toincrease quality insight and maturation of analytical department. When managers commit toSMART goals, they achieve what they want(Armstrong, Kotler, Harker, & Brennan, 2015). Thispaper carries research on image and branding decision. Branding is a significant marketing toolthat helps buyers to save time spent trying to compare prices among many products since theycan pinpoint what they want quickly(Roper & Fill, 2012). Branding also helps consumers to
DECISION MAKING 3develop a feeling of emotional connection. The other advantage of branding is habitual buyingand strategic options for marketers(Armstrong, Kotler, Harker, & Brennan, 2015). BHT helpscustomers to refer your business to others; they help your product to penetrate the market, buildrelationship with customers etc. (Roper & Fill, 2012.The essay will begin with an introduction,state the business and research objectives, the body of the research, describe the research designand draw conclusions on the main discussion(Schaltegger, Lüdeke-Freund, & Hansen, 2012). Business & research objective(s) Netflix telecommunications 1.To further establish their presence in Southeast Asia region, particularly Singapore2.Establishing more loyal, happier and larger consumer base within Singapore3.To improve Netflix's reputation in Singapore with the aim of increasing reputation in theentire Asia region4.Focus on three target groups, i.e. families, adults and students5.To increase Netflix's subscriber count by 20% by the year-end in Singapore whilefocusing to increase the customer satisfaction to 80% (Zott, Amit& Massa, 2011).Specific research objectives of the BHT1.To increase brand differentiation to avoid businesses brands look-a-likes experienced byconsumers today by ensuring that your brand is unique from others.2.Increase budget for consumer communication to create the desired result throughfeedback evaluation3.Ensure that the brand show up in the market during consumers' purchase decision-makingprocessInformation required fulfilling the research objectives
DECISION MAKING 4For the research objectives to be effective, there is information that is required before makingbranding decision(Armstrong, Kotler, Harker, & Brennan, 2015). For instance, the consumerbehaviour regarding purchasing behaviour and post-purchasing behaviour can help to makeproper decision concerning product branding. 1.Purchasing behavior evaluationUnderstanding the type of purchases made by consumers is important when studying theirpurchasing behavior (Armstrong, Kotler, Harker, & Brennan, 2015). There are three types oftypes of purchases made by consumers, and they include; trial purchase, repeat purchase andlong-term commitment purchase.Trial purchase Trial purchase happens when the consumer of a product decides to buy the product in very smallquantities for the first time to experience it(Roper & Fill, 2012). The evaluation of a new productby the consumer, in this case, is done by direct use of that particular product. Consumers behavelike this to avoid regrets from using the ineffective product; hence they choose smaller trialquantities as opposed to products they are familiar with(Punjaisri& Wilson, 2011). A goodexample is a consumer who meets some new type of shoe polish and instead of buying thebiggest and high priced shoes polish pack they settle for the smaller pack to make a try than theywould do to Kiwi which they are familiar with. Trials can also be facilitated by providing freesamples, coupons, or sale prices(Roper & Fill, 2012). This type of behaviour is the mostimportant stage for a new product to sell big in the market and vice versa(Hanna & Rowley,2011). The trial purchase is not applicable all the time more so for durable goods like washingmachines, electrical ranges, or refrigerators etc. (Schaltegger, Lüdeke-Freund,& Hansen, 2012)In
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