Marketing Principles - Assignment Sample

Running head: Marketing Principles 1
Principles of Marketing
Name of Student
Name of Institution
Name of Course
Name of Instructor
Date of Submission

Marketing Principles 2
Marketing Principles
Why businesses study consumer behavior
The ability to satisfy consumers largely depends on the strategies laid down by a
company in terms of sales, marketing and after sale services. One core reason why companies
study consumer behavior is to deduce their taste, preferences and values related to particular
products. The response of a client to a particular product in the market can be used by a company
to highlight the trends in their behaviors (Blythe, 2008). The second reason why companies study
consumer behavior is to know the right price ranges that would adequately fit the economic
standards of the target market. At the same time, learning consumer behavior gives the
management a chance to identify the effective adjustments which could be made to a particular
product or service in a bid to heighten customer satisfaction which culminates in customer
loyalty.
Buying process description
The buying process involves a number of stages each of which remains crucial in
determining the end of the process. This implies that the successful observation of facts in one
step influences the outcome likely to occur in the next step. These stages are described with
reference to an electronic appliance, a microwave obtained specifically for indoor purposes
The first stage in buying involves problem identification. In this case, the client identifies the
problem likely to be solved once the product has been bought. For instance, in the case of the
microwave, little time due to tight schedules encouraged the pursuit for the product which could
be used to speedily warm foods and hence save on time that would have been used in preparing a
whole course (Niklas, 2012).

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The second stage involves information search where the client visits a number of
platforms both online and physical shops in order to deduce information about the best
microwave, its specifications and the variations in price with relation to type of appliance. It is
after a thorough information search that the consumer can now move to the next step which
involves the evaluation of the available alternatives (Yang, 2010). In this case, the consumer
reviews each of the options available and in comparison to their budgets, one settles on the best
alternative.
The fourth step involves the specific decision made regarding the purchase of the
appliance. After highlighting the necessary alternatives, the buyer finally settles on what to
purchase, makes the arrangements and eventually obtains the product (Kotler, Keller & Koshy,
2009). The next stage involves the post purchase behavior which may comprise either positive or
negative reactions. When the buyer notes that identified problem is solved and the appliance is in
perfect working condition, they are likely to express satisfaction and hence return for services.
However when this expectation is compromise, the consumer tends to shy away from the
company. This is made worse when the business has no stable after sale service strategies.
Impact of the degree of involvement
The degree of involvement has an influential role on the speed of the process. When the
parties are all involved vehemently in the process, it is likely to end fast and a good company-
consumer relationship is created soon after (Bettman, 2009). However, a low level of
involvement slows down the process and is often a depiction of the consumer’s lack of
commitment towards the process. For the purchase of the microwave, the degree of involvement

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was high which made the process end within a short period of one week. The seller also had
frequent follow up strategies to ensure the involvement levels were kept alive.
Customer loyalty and customer satisfaction
Customer loyalty and satisfaction are two different entities despite the fact that they both
involve a consumer sticking to a particular business, product or service. Customer satisfaction is
the tendency of a product or service to adequately address the expectations of the buyer. This
therefore implies that a consumer can buy an item from a business, once, be satisfied but still fail
to return for other services especially when they don’t see the need to. Consumer satisfaction is
largely influenced by the quality of products and services. On the other hand, customer loyalty is
the tendency of a consumer to stick to a business and continuously come for goods and services
even when then aspect of satisfaction is not wholly achieved (Foxall, 2008). This can be
enhanced through proper consumer relations involving discounts, after sale services and rewards
to consistent consumers. It should be noted that the facts noted here may not enhance customer
satisfaction but can ensure customer loyalty. Subsequently, satisfaction becomes an integral
function of loyalty. My experience with the microwave was superb. The business has a staff
which communicates so well with the clients. The after sale services are great and the quality of
their products is equally attractive. This explains why most of the electronic appliances have
since been obtained from this very business.

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References
Bettman, J. (2009). An Information Processing Theory of Consumer Choice. New York:
Addison-Wesley Educational Publishers.
Blythe, K. (2008). Consumer Behavior. U.K:Thompson Learning.
Foxall, G. (2008). Understanding Consumer Choice. USA: Palgrave Macmillan.
Kotler, P., Keller. & Koshy, A. (2009). Marketing Management – A South Asian Perspective, but
China and Japan also contribute. India: Prentice Hall.
Niklas, O. (2012). “Predicting purchase decision The role of hemispheric asymmetry over the
frontal cortex”, Journal of Neuroscience, Psychology, and Economics, 3(1), 2-3.
Yang, H. (2010). Consumer Decision Making. New York: Wiley.