Marketing Management Assignment (pdf)
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Added on 2021-05-30
Marketing Management Assignment (pdf)
Added on 2021-05-30
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Running head:MARKETING & MANAGEMENTMarketing & ManagementName:Academic Institution:Date:
MARKETING & MANAGEMENT 2Week 4: How a consumer’s level of involvement affect his or her choice of problem-solvingprocess. Compare and contrast with high involvement and low involvement purchasesThe level of involvement has a significant impact on the decision of a purchase. If the level ofimportance is put high on the item, and the items need, in that case it is fine to say that the itemwill be bought (Pierce & Irwin, 2016, p. 60).By distinction, high-involvement decisions take ahigher risk to buyers if they fail, are different, and/or have high price tags. An example when a company intentionally triggers recognition of a particular need through its promotional campaign.A company may intentionally triggers recognition of a particular need through its promotionalcampaign in an instance such as, when offering after-sale services through text messages.An example of a purchase for which you experienced post-purchase cognitive dissonance and how it was overcomeAccording to YU-LUN & CHING-JUI (2014), Cognitive dissonance occurs when behaviors contradict each other. In post-purchase situation, an individual’s idea about the product may contradict as well, for example, I bought a Sony Xperia mobile whose specifications are almost similar to that of Samsung mobile, considering the price, I found that Samsung is cheaper than Sony even with the same qualities. The price was slightly different, so I just felt contented, thus overcoming the situation of cognitive dissonance.Major stages in the consumer buying decision process and how the Internet impact this decision-making processConsumer problem-solving is categorized into three types. These include limited problemsolving, routinized response behavior, and extended problem solving (Kim et al., 2017). Internet
MARKETING & MANAGEMENT 3is frequently used, for example, when one wants to purchase a new mobile phone, he/she willjust search about the specifications and acquire if it fits hi/her needs.Changes that airlines are making to save money and fly greenerOne of the things that every company would like to do is saving money on operational cost. Inaviation industry, airlines have set goals and have stick with them for effective operation.Secondly, they have resorted to the use of biofuel to rescue high cost.Week 5: Each company’s targeting strategy (MAZDA and Shoes of Prey)There are various types of targeting strategies; however, from the websites, only two are visible based on the content from each website. Mazda uses multi-segment targeting strategy while Shoes of Prey uses concentrated or focus segment targeting strategy. Mazda has more than one product that targets both genders while Shoes of Prey is one segment that only deals with female shoes.Changes that Mc Donald’s has done in the past few years to reposition its brand and why itneeds to reposition its brandFirst and foremost, the reason for repositioning is to is reclaim and maintain their standard for being the healthier fast food chain and to appeal the larger customer segment and to improve customer satisfaction with the significant change coming from food quality, pleasant, quick service and order precision. These changes include adding healthier choices in their menu.Video case: The kind of retail operation to invest inBox Hill is an area that is known for its cultural diversity and strong specialism in Asian food and retail. It is a lively area with shops, education, offices, hospitals, transport and services. Its growth is spread over retail, jobs and more specifically housing. For this reason, it the best place
MARKETING & MANAGEMENT 4to invest especially in small scale retail shop business that deals with food. Having left with $500, 000, the amount is not enough to invest in real estate even though it is the most lucrative inthe area. However, due to the population size, the area is fit for starting a food retail store to serve the larger population.Week 6How Kate Spade use its website to interact with customersThe best thing about Kate Spade’s website is the availability of live chat platform. This assistscustomers who seek to know more about the product get prompt response. The website hasvariety of products for the customer to choose, an indication that the customer can choose andbuy from the comfort of bedroom or any place. All the information about the products areprovided thus making customer to make a well-informed decision. Similarly, customers have theopportunity to post both negative and positive reviews about the products. This is helpful sincethe organization gets to know where necessary adjustments are required. How companies can manage the impact of negative reviews of their products and servicesNegative reviews can be of positive gain or negative depending on how the company handle such situation. Reviews are one of the most effective innovations to emerge from Internet business, replacing oral as the major driver of a business’ reputation (Windsperger et al., 2018).Even though it is risky, sometimes it might be helpful to the business. In managing these reviews, the companies need to increase the conversation on the column and show the urge to correct the situation that has contributed to the negative review. Secondly, jumpstarting customerengagement by using the negative reviews as the opportunity to showcase the commitment to better service is also a good take to managing the reviews. Companies should also ask questions
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