Information Searches - Research Paper Example

?INFORMATION SEARCHES Lecturer: Low involvement purchases These involve the purchase of goods that does not require a lot of consideration or effort of a consumer before purchasing since they do not have any substantial effect on the lifestyle of a consumer and therefore are not that significant to invest. An example of a low investment product can be an item that is purchased habitually therefore it requires little effort while making the purchasing decision. Some of the purchases that entail low involvement decisions are made without any previous though or planning and involve impulse buying. One of the examples of the low involvement good is a diet coke that one usually takes for a lunch. If at all one misses diet coke at home, he/she may more anywhere without even searching for more information since it is a routine product Medium involvement It is the kind of involvement that falls between high involvement and low involvement purchasing decisions. This kind of medium involvement involves limited problem solving where the consumers already have some information about a good or a service and the continue searching for more information e.g. snacks and orange juice which only requires evaluation of alternatives. High involvement purchases These are purchases that involve a lot of risks to the buyers if at all they fail and they are complex in nature and have high price tags. Some of the examples of high involvement purchases include a house, a car and insurance policy. Most of these purchases are not often purchased but are very vital to the consumer. While making a purchase decision, a buyer engages in an extended problem solving where they take a lot of time comparing different features, i.e. the feature of the prices, products and warranties. Every marketer has to analyze and consider the buying behavior of the customers therefore before making any decision; one has to consider the consumer’s level of involvement so as to come up with the sales strategy. As in the case of low involvement purchases, the marketers should use sales and promotion as a strategy since this will spur them into making purchase decisions. As discussed earlier, low involvement purchasers always make impulse buying therefore appealing sales promotions motivates them to buy more of the company’s products and services. Furthermore, the use of sales promotions like use of coupons can reach may customers at the same time therefore spurring into making a purchase decision. On the other hand, the marketers should also consider pricing their products in a manner that will entice the consumers into making a purchase decision. The company should also ensure that are low involving are available in most outlets as much as possible For, the case of medium involvement purchasers, most of them are considering the alternatives of the products. Understanding the choices made by this group assists the marketers in coming up with a sales strategy. Medium involvement consumers are in the third stage of evaluation of the alternatives before a purchase decision. The marketers should provide enough information about the product and its attributes. They should provide more of the advantages of the product or a service so as to entice the consumer into making a purchase decision. The customers who fall into the category of high involvement should be handled with a lot of care since they tend to make more and lengthy decisions before making a purchase. Since any purchase made by consumer requires extensive information, marketers should develop a strategy that is tailor made for this group. For example, when it comes into buying a car, the marketer must employ in broad problem solving techniques and also be willing to consider different types of brands. Since buying a car involve high involvement, brand name is very important for them. This is the reason as to why most of the manufacturers of those goods that require high involvement decisions cannot become satisfied about the value of their brands and continuously modify brands to suit customers taste. Strategies to enhance sales on low involvement purchasers In order to increase the sales for those consumers who purchase products which are low involving involve the following: i. Reward the customers who make repeat purchasing with exciting prices that will enhance the brand of the company. ii. Connect to loyal customers and understand reasons as to why they buy your brands iii. Ensure that your sales channel employees get to buy your success story since they can among the greatest ambassadors of your company’s brand iv. Motivate the consumers to learn more about the products of your company and also to listen to your story. For the case of medium involvement, this involves more of information search. Marketers should provide enough information concerning the attributes of the product. On the other hand, the marketers should also consider pricing their products in a manner that will entice the consumers into making a purchase decision. The company should also ensure that products are medium involvement are available in most outlets as much as possible so as to ensure that those who are still searching information can have the best choice of their products While handling the high involvement goods, the marketer should consider providing enough information to the customers. Keep the advertisement simple to be understood with the right language since consumers of high involvement products require a lot of technical information before making any purchase. Provide personal selling in high involvement purchase since the customer will get more information concerning a product. Consider print advertising for the high involvement since magazines and newspapers offer information that can be clearly processed and can assist in shaping the influence and attitudes during the decision making. In addition reward the customers who make repeat purchasing with exciting prices that will enhance the brand of the company. In the appendix two the criteria chosen was based on the classiness of the vehicle, sportiness, affordability and the distinctiveness of the vehicle. References Claire, K. A. (2007). A Strategic Tool for Low Involvement Products: Leverage Analysis. European Journal of Marketing , Vol. 16 Iss: 5, pp.3 - 11. Kotler, P. a. (2006). Marketing and Management. , Upper Saddle River, NJ, USA: Pearson Prentice Hall. Solis, B. (2012). The Complete Guide for Brands and Businesses to Build, Cultivate, and Measure Success in the New Web,. London: John Wiley & Sons. APPENDIX I CATEGORIES OF PURCHASE INVOLVEMENT APPENDIX II PERCEPTIVE MAP FOR HIGHLY INVOLVING TYPES OF VEHICLES Read More