Research Project Question Answer 2022

Running head: RESEARCH PROJECT
RESEARCH PROJECT
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Q1: Explain either Gino’s, Brett’s, or Alex’s decision-making process to
demonstrate your knowledge of the 'cost benefit risk analysis' ensure you have
some reference to Maslow's Hierarchy of needs and situational factors.
The decision making process that have been employed by the three friends in the case
study are all motivated by the cost- benefit and risk analysis. The decision making process
that have been employed are motivated by the two characteristics of the costs- risk and
benefit approach. First they have considered, whether, the investment the one is planning to
make, is sound enough (Fischhoff, 2013). This is determined, by the associated beneficial
factors and the risk factors, with the decision that is made or taken (Fanning, 2019).
Secondly they have included a comparative method of all the available options in the
market and then comparing among them, and thus, deciding upon the beast options
(Fischhoff, 2013). This analysis have been done essentially upon the costs of the products,
however, they have also included the other associated factors of the products (Fanning,
2019).
However, the decision processes that these three friends have employed are not only
motivated by the cost- benefit and risk analysis, but are also motivated by Maslow’s Need
Hierarchy theory. For example, the decision making process of Alex, is motivated by the
Self- Actualization level of the Need Theory (Ozguner, & Ozguner, 2014). Gino gas seen to
be employed the Safety Needs level to decide upon his next buy. Lastly, Brett is seen to have
employed the Belonging and Love factor to decide upon his choice of car (Fanning, 2019).

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Q2: Demonstrate your understanding of the situational factors [COMP] and how
they may influence the decisions of Gino, Brett, and possibly Alex.
The COMP factors or the factors of customer, Organization, Market and Product, are
regarded as the four laments of brand analysis, and these essentially motivates the decision
making factors of the individuals.
The factor of customer refers to the approaches of the consumers of the customer
towards a particular product or service. A customer possessing a positive approach is likely to
remain with the brand and influence others to associate with the brand, and a customer having
a negative approach can affect the market base of a product or a service (Sila, 2013).
The factor of organization refers to the brand identity, one organization possesses or
creates, or the loyal customer base, one organization has (Kot, & Brzezinski, 2015). These
influence the branding of a product and the employee base of the same.
The branding and positioning of a particular product or service is often motivated and
directed by the market. The mapping of a particular product focuses on the market needs, and
market drives (Sila, 2013).
Lastly, the factor of product refers to the brand identity of the product and the
specifications of the same. For the customers the brand name adds value to the product, and
at the same time, the certain specificities also create a brand recognition for the products
(McDONALD,, 2016).
Therefore, if the decisions making process of the three friends can be viewed and
analysed then it will be observed that the decision making process of Alex is motivated by the
Product attribute. While, on the other hand, the decision of Brett regarding the purchase of a
car is motivated by the organization approach, and he is a loyal customer of Volkswagen

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(Fanning, 2019). But, the decision making process of Gino is consumer oriented, it is his
needs and his capabilities that motivated his decision.
Q3: It appears that Gino is starting to construct a considered set of products.
Identify this product category [the 4X4 dual cab utilities] and discuss the
'decision-making rules' [see e-book] that Gino may employ when selecting a new
car.
The 4X4 dual cab is an excellent technology which help in generating more power.
The 4X4 power refers to four wheels technology, whereby, the four wheels of the cars will
move at the same time. The concept of dual cab has been initiated during the 30s and 40s, and
were seen as a very effective inclusion on the car industry. Both the technology and the car
type have been an effective inclusion, as per the customers and the market analysts (Evin et
al., 2013). The concept of 4X4 dual car was initiated by, Brett, in the conversation, who had a
great faith on the Volkswagen, and is interested in the new model 4X4 dual can model of the
car, namely, the Amarok. As per the market research Amarok has a huge customer base,
mainly for its brand value, secondly for its product value the car is not only a dual car abut
also is diesel oriented. Now, since Gino is a plumber, therefore, he has to visit to some
inclusive areas, that too with equipment. Therefore, it is likely that he liked the concept of the
dual cabs. The 4X4 dual can will be a perfect match for him, as it will be effective and
feasible for him (Fanning, 2019). At the same time, it will match his personality, and his
profession. Therefore, the next time he will go to get a new car for him, he is likely to look
for a 4X4 dual cab for himself.

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Q4: Product considerations, product layers and the product components come
together as the 'total product'. The total product is inferred within the scenario –
select what you consider are important to best demonstrate your knowledge.
The concept of total product is not only a topic considered in the marketing
background, but it is considered to be an economic concept as well. The concept of total
product is referred to the amount of an organization’s output, as compared to its input. The
output of the organization is the band image, the customer base and considerations made
regarding the product, and the like, while, the inputs in a product is considered to be the, and
the components of the product, and the layers of the product. The product considerations refer
to the quality and the quantity of the product, the specificities of the products and aspects of
functioning and reliability related to the product. The product layers are essentially associated
with the organization, and discusses about the various layers of production, made by a
particular organization (Midgley, 2014). These include, the core products, the generic
products, the expected products, the augmented products and the potential products. These all
provide a complete sense of the product line of a particular organization. Lastly, the product
component refers to the associated factors and understandings related to a particular product,
which refers to the core product and the additional features to the same, the packaging made
upon the same, and the brand name associated with the product (Johnson, & Chvala,, 2017).
Therefore, if the discussion of the case study is considered then it can be seen that all these
components have been included in the discussion, and as it is suggested by their discussion, it
is important to understand and analyse about all the aspects before buying a product.
Brand Promotion:
The discussion has reflected upon the fact that while making the buying decision of a
particular product, it is essential to consider the total products. And also, as per the discussion

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among the three friends it is also highlighted that the brand identity or the brand image of a
particular product is also important to be considered, as it motivates the buying behaviour of
the customers.

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References:
Evin, E., Tomas, M., Katalinic, B., Wessely, E., & Kmec, J. (2013). Design of dual phase
high strength steel sheets for autobody. DAAAM International Scientific Book, 767-
786.
Fanning, S. (2019). the buyer decision process: cars | The Marketing Concept. Retrieved 24
September 2019, from https://www.themarketingconcept.com/the-buyer-decision-
process-cars/
Fischhoff, B. (2013). Cost–benefit analysis and the art of motorcycle maintenance. In Risk
Analysis and Human Behavior (pp. 83-111). Routledge.
Johnson, W. C., & Chvala, R. J. (2017). Why Total Quality in Marketing. In Total Quality in
Marketing (pp. 1-26). Routledge.
Kot, S., & Brzezinski, S. (2015). Market Orientation Factors in Sustainable Development and
Corporate Social Responsibility,“. Asian Journal of Applied Sciences, 8(2), 101-112.
McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and
practice. In The marketing book (pp. 108-142). Routledge.
Midgley, D. F. (2014). Innovation and New Product Marketing (RLE Marketing). Routledge.
Ozguner, Z., & Ozguner, M. (2014). A managerial point of view on the relationship between
of Maslow's hierarchy of needs and Herzberg's dual factor theory. International
Journal of Business and Social Science, 5(7).
Sila, I. (2013). Factors affecting the adoption of B2B e-commerce technologies. Electronic
commerce research, 13(2), 199-236.

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