StudentShare solutions
Triangle menu

MRKT discussion questions week04 - Research Paper Example

Not dowloaded yet

Extract of sample
MRKT discussion questions week04

In low involvement product, differences in segmentation were not that evident and often ignored. The reason I can surmise why segmentation is more evident in high involvement product than low involvement product was that high involvement product takes so much resources and time from the consumer that segmentation becomes significant. For example, in the respondents whom I asked for their considerations before buying the car, the interviewees really made a careful thought before buying the car. Considerations like fuel consumption, maintenance, up front cost, performance, comparison with other cars, etc. were considered before buying the car if indeed it was a real value for their money. Here, cars that were positioned in the lower to middle segment in the market caught their attention. High end cars with exorbitant price tags were automatically struck off from their list. Therefore, the segmentation of the market in terms of price worked for my respondents even if they belong to upper middle class income bracket who could afford more expensive cars. To validate my initial assumption about segmentation, I asked a respondent why he is zeroing in on value cars and not the flashy cars which men typically like. He replied that he used to like but learned how to be frugal after the financial crisis because, as he said, “you never know, you might lose your job tomorrow.” He said that he has to be practical these days especially in high ticket items that will be purchased because of the uncertainty of the economy. Moreover, the money he saved from buying to value cars instead of the more expensive ones will go to his savings as a “buffer” during uncertainties. Comparing the car purchase with low involvement product, most of the respondents did not give much thought about the purchase and just put the product in their grocery baskets everytime they shop (the item I asked for low involvment product was shampoo). I asked them why and they replied that they are used to their brands already and they will only consider other brands if it is not available. I asked if price or other factors influence their buying behavior and they responded that only if it is very significant. But if it just within the price range of a regular shampoo, they do not mind slight difference. Perhaps this is more applicable to the segmentation of gender because the female respondents (two of them) were emphatic in having their particular brands due to reason that it “suits them” while the men were not that conscious about their shampoo and just pick up the same brand of shampoo out of familiarity but would not mind using another brand. 2. How would the marketing differ for the different segments you identify? High involvement products are high stake purchase for the consumers and they really take the time before making the purchase. As such, high involvement products are very conscious to position themselves according to the considerations of their target market. For example, in the car industry manufacturers that target the low to middle market astutely emphasize values in their products such as fuel efficiency, mileage, reliability and price. The reason for this positioning is that their market is price sensitive and they have to communicate and package themselves as the best value for their money. In the high end cars, they observably emphasize style, comfort and image to appeal to their market ...Show more

Summary

Name Class Teacher Date 1. What key segments can you identify for this product / service? Are there any differences in segmenting low involvement vs. high involvement?  The respondents for my assignment were two males and two females. Among those who made a relatively new purchase of high involvement product were the males…
Author : emmanuelleprosa
MRKT discussion questions week04 essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the research paper on your topic
"MRKT discussion questions week04"
with a personal 20% discount.
Grab the best paper

Related Essays

MRKT
Talking in a detailed manner, the development of the internet powered communication technology along with the factor of rapid rise and faster acceptance of various kinds of technological gadgets has resulted in the process of a massive global technological revolution.
20 pages (5000 words) Research Paper
Answer 2 discussion questions and write a 2-3 page paper from uploaded information
Otherwise, if these two department stores are located in extensively far off areas, then, they could not be considered competitors. There could be customers who choose to do shopping between these two stores, especially when the customer prefers to purchase a product with significantly low price (which could be found in one of the stores; yet, need some customer assistance regarding purchasing another product, which could be availed in the other store.
4 pages (1000 words) Research Paper
Discussion questions
st purchase services, core technical features, peripheral specifications, price and payment conditions, value added features, mobility and connectivity are the principal factors that influence laptop purchases by consumers (Feng & Elfring, 2004). In addition, payment conditions
2 pages (500 words) Research Paper
Discussion
is common notion of depression is indeed a picture of a severe case of which, that often leads more people to disregard the importance of treating the beginnings of depression. This is how I would describe depression and introduce the topic to my group. An understanding that
2 pages (500 words) Research Paper
Discussion
This type of bias is one in which the researcher necessarily picks data points that will help to reinforce the hypothesis that he/she has already established in his/her own mind; as mentioned by (Schwin et al 2012). This is of course
2 pages (500 words) Research Paper
Discussion
It is also termed formative measurement. A question can be termed as formative in nature, or can be easily molded around to form a summative assessment query. Both evaluation methods deploy different approaches and the mode of checking the progress of the students.
2 pages (500 words) Research Paper
Discussion
There are diverse roles and responsibilities that teachers have while taking the initiative of being a teacher, for instance,
2 pages (500 words) Research Paper
NO TOPIC Discussion Questions
When asked what the adventure cost him he said Thank God. I only lost $150k savings - it could have been worse. Is this a correct assessment? What is the opportunity cost of his adventure in Africa? The assessment that the businessman only lost $150,000 savings in
2 pages (500 words) Research Paper
Discussion
To maintain anonymity, the researcher could restructure his questionnaire to avoid the inclusion of very personalized information among the respondents. If personalized information has no significant impact on the study, the psychologist could do without the
2 pages (500 words) Research Paper
Discussion
In applied research, a defined phenomenon is examined after which the findings are related to a specific situation. In essence, applied research points to the direction in which a resolution to a problem
1 pages (250 words) Research Paper
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation