Essay On 115.116 Introduction to Marketing

Sharesies has conducted multiple studies in order to understand New Zealanders’ attitudes towards investing.

1a) Is the research conducted by Sharesies described in the case an example of primary or secondary data collection?  Explain why. 

1b) Is the 2018 research conducted in collaboration with Smartshares and Colmar Brunton exploratory, descriptive, or causal in nature?  Provide an explanation for your choice.               

1c) How do the results from their market research help Sharesies make decisions about their Product and Price?           

1d) Give one disadvantage of primary data, and one disadvantage of secondary data.

Question 2: Buying behaviour.  30 marks - suggested maximum 500 words / 1 page

Consumer buyer behaviour is influenced by four key sets of buyer characteristics: cultural, social, personal, and psychological.

2a) Describe two personal characteristics that could influence the buying behaviour of Sharesies potential and current customers. Please explain how these characteristics may influence buying behaviour.            (14 marks)

2b) The first step in the buyer decision process is ‘need recognition’. Give an example of a need that a potential customer of Sharesies might recognise and wants to fulfil through investing with Sharesies?      (8 marks)

2c) The final step in the buyer decision process is ‘post-purchase behaviour’. At this stage, cognitive dissonance, or discomfort caused by post-purchase conflict, might arise. What could be a potential source of cognitive dissonance for Sharesies’ customers?   (8 marks)

The first step in designing a customer-driven marketing strategy is selecting which customers to serve.  The case described the original target market, namely those under 40 and small-scale investors, but suggests that Sharesies actual customer base is broader.

3a) Please describe two possible consumer segments that Sharesies might be targeting or could target.

3b) Now describe whether the two segments you described in 3a are accessible and differentiable. Please provide an explanation for your evaluation.

3c) What kind of targeting strategy would you suggest best suits Sharesies: Is it undifferentiated (mass) marketing, differentiated (segmented) marketing, concentrated (niche) marketing, or micromarketing? Please explain your choice.