- You need to highlight the five steps in the consumer decision-making process such as need recognition, information search, evaluation of alternatives, purchase and post-purchase.
- You need to focus on the selection of a product category/service category/specific brand and marketing strategy (segmentation, targeting and positioning).
- You need to highlight the level of involvement your product/service selection fits into (for example habitual purchases such as tooth paste or shampoo fall under low involvement product category, books and music under medium involvement and luxury products under high involvement product categories).
- Segmentation process involves four bases such as geographic, demographic, psychographic and behavioural. You need to discuss about two important segmentation bases only.
- Targeting process involves mass marketing, undifferentiated and differentiated targeting processes. Mass marketing relates only to commodity products such as salt, sugar or blank CDs. Therefore you can safely ignore mass marketing. You need to decide between undifferentiated versus differentiated targeting processes depending on your product/service selection.
- Positioning aspect need to include a perceptual map (comparing the competitors) and a positioning statement.
- Please be cautious about the word count for this assignment. Therefore technically your first and second sections shouldn’t exceed two to three paragraphs.
- You need to discuss about the relevance of the all of the internal factors such as motivation, personality & self-concept, perception & consumer imagery, learning and attitudes.
- Motivation – please base your discussion around Maslow’s hierarchy of needs and trio of needs (remember that you can relate both these theories).
- Personality – discuss about the Big 5 personality trait theory (remember that all of the 5 traits listed as part of this theory may not be relevant in your discussion as this part largely relates to your product/service selection) and discuss about three important strategic marketing applications of personality aspect (for example if you are picking up a technological product that is new to the market, these strategic marketing applications may relate to consumer innovativeness, consumer dogmatism and variety seeking).
- Self-concept – you need to pick only one type amongst actual, ideal, social and social ideal self-concept types.
- Perception – base your discussion around the perceptual elements (selective perception, perceptual organisation and perceptual interpretation).
- Consumer imagery – need to link to various positioning strategies (at least three such as competitor-based positioning, umbrella positioning and value-based positioning).
- Learning – need to link the discussion to behavioural (classical conditioning/instrumental conditioning) and/or cognitive learning based on your product/service selection.
- Attitudes – need to highlight the relevance of multi-attribute attitude models (select only one).
- Discuss the relevance of diffusion of innovations concept.
- Now the discussion seems to be in three different sections and highly disjointed.
- Your task here is to draw links between these sections.
- Motivation needs to be related to the need recognition stage of the decision-making process and similarly to the segmentation process.
- Personality & self-concept and perception & consumer imagery links to the information search process and so is the targeting process.
- Learning and attitudes link to purchase and post-purchase stages.
- In regards to the post-purchase decision-making process highlight the relevance of cognitive dissonance theory (strategies to reduce the discomfort caused to the consumers with the purchase of your selected product/service).
- The concept of positioning is applicable to all of the five stages of the decision-making process.
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