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Question:

Assessment Description

The purpose of this individual assignment is to develop your skills in understanding the consumer decision-making process and its importance to marketers. This will enable you to apply marketing theories and concepts to a ‘real world’ business situation. Choose a product that you are interested in buying, something that you have never bought before. Apply the BUS106 theories and concepts to identify and briefly explain your behaviour at each step of the consumer decision - making process. More specifically, you are to consider the
following points:
 
1. Identify and analyse your need and want that led to the purchase of the product.
 
2. Conduct an internal and external information search and identify sources used to make an informed decision to buy the selected product.
 
3. Construct Evoked Set, Inept, Inert and Avoided Set of alternatives and narrow down the attributes of the product that satisfies your need and want.
 
4. Identify and examine available purchase methods.
 
5. Identify potential post-purchase behaviour, and outline how a company that sells your selected product can minimise cognitive dissonance.
 
 

Answer:

Chosen Product: iPhone

1.Identification and analysis of the needs to buy the chosen product:

The modern generation has the urge to be more gadget friendly. With every passing day, more gadgets powered by advanced technology are being launched to give a more user-friendly experience. Some of the reasons for the needs to buy an iPhone are:

IPhone unlike many other Android phones has a very efficient and high-resolution camera, which can provide the users with a great experience.

IPhone is the most powerful phone in its category with a high-end processor and long battery life that can provide the young users with a rich graphical experience.

IPhone provides the young users who are bent towards using modern technology with the best experience due to the availability of new modern apps, which are essential for daily use.

IPhone has a very sleek and stylish design, which goes well with the contemporary style trend of the youth and hence, are cherished by the people of the young age.

2.Internal and external information search about the product:

Internal information: The buyer can research about the product from the friends and relatives who use the product. They can provide useful information about the product being the first-hand users. Moreover, the buyer can get a more detailed demo of the product, feel its usefulness by actually seeing the product, and judge its effectiveness accordingly.

External information: The buyer can research about the product over the internet. The internet can open up different information about the products and can help the buyer with a detailed idea of the product. For example, the company website of IPhone can specify all the details about the phone and the buyer can be aware of the product more specifically. Moreover, there are different blogs and online tech journals, which provide the required reviews of the phone and can help the buyer to decide whether the phone should be bought or not.

Evoked Set:

The evoked set of products are the set of the desirable products that can be shortlisted for making the final decision for choosing the particular products (LeBlanc 2015). For example, if the buyer has the mind-set of buying an IPhone, he can shortlist several choices of IPhones and compare their specifications in order to choose the best product according to requirements.

Inert Set:

The inert set of products are the choice of products, which are not in the choice list, but at the same can be considered under certain circumstances if some extraordinary feature can appeal to the attention of the consumer (Rani 2014). For example, if the buyer is considering buying an IPhone, then a set of Android phones might make up to the inert set of products. It can be said that some of the Android phones have similar or even better features than the IPhone and if the buyer considers that difference then the buyer can choose the Android phone over the IPhone. 

 

Inept Set:

The inept set of products are those that are not included in the choice list while considering buying a product (Malik et al. 2013). For example, if the buyer in considering to buy an IPhone, then the phones with the Windows operating system can be put in the inept set. The outdated operating system can never make to the choice list of the buyer who is considering buying an advanced set of IPhone.

Identifying the available purchase methods:

The available purchase methods for buying the IPhone are:

Online retail websites such as Amazon, which provide the IPhone at affordable prices with brand guarantee.

Online Apple store which also provides a wide variety of options to consider buying an IPhone

Apple stores also provide the buyer with the physical buying experience, where the buyer can feel the phone before finally purchasing.

Post-purchase behaviour:

Apple IPhones can provide the buyer with the most advanced technological experience after the product has been brought. The buyer can be satisfied with the use of the technologically advanced phone and its apps. They can help the customer with several tasks and make the phone experience easier for the customer. The I-store can provide the customers with a wide range of free and paid products, which had been earlier expected, by the customer. Moreover, the technical aspects such as the high-resolution camera or the powerful processor of the IPhone can provide the customer with a rich mobile experience. Besides these, Apple has a very efficient customer service division, which can assist the customer with great post purchase services. The better relation between the company and the customer can be created by the good service provided by the customer service division of the company.

Chart:

 

Figure 1: Consumer Behaviour Chart (Source: Self-developed) 

 

References

LeBlanc, R.P., 2015. An Exploratory Investigation into the Relationship Between Evoked Set Decisions and Final Puchase Choice. In Proceedings of the 1989 Academy of Marketing Science (AMS) Annual Conference (pp. 7-11). Springer, Cham.

Malik, M.E., Ghafoor, M.M., Hafiz, K.I., Riaz, U., Hassan, N.U., Mustafa, M. and Shahbaz, S., 2013. Importance of brand awareness and brand loyalty in assessing purchase intentions of consumer. International Journal of Business and Social Science, 4(5).

Rani, P., 2014. Factors influencing consumer behaviour. International journal of current research and academic review, 2(9), pp.52-61.

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