Often appear to be quite irrational to casual observer

Assignment Help Operation Management

Reference no: EM132087982

While consumer behavior may often appear to be quite irrational to the casual observer, most behavioral scientists agree that consumers are problem solvers seeking to relieve tension caused by their unsatisfied needs. How an individual consumer goes about solving problems depends on the intrapersonal and interpersonal variables that affect that individual. In general, however, most consumers tend to follow a five-step decision process.

1. Becoming aware of need

2. Gathering information about choices

3. Setting criteria and evaluating alternatives –perhaps trying some out

4. Deciding on the solution

5. Evaluating the purchase experience

The length of time it takes to complete the decision process and how much attention is given to each of the five steps depends on the nature of the problem and how much experience an individual has had in trying to solve a particular problem. To understand the process better, it helps to recognize three levels of problem solving:

Extensive problem solving, limited problem solving, and routinized response behavior.

See Exhibit 5-10 in text.

The purpose of this exercise is to illustrate the three levels of consumer problem solving by relating them to your consumer decision experiences in the marketplace.

Please complete the assignment below based on Ch 5. Use this form as your template.

Think of a product you have recently purchased at retail. Name the product, brand name, the product type (e.g., convenience, shopping) and identify if the product is distributed using an intensive, selective, or exclusive distribution strategy.

1. Routinized response behaviour: Product ______________

2. Limited problem-solving: Product _____________

3. Extensive problem-solving: Product ______________________

Discussion Question:

Which of the three levels of problem-solving offers marketers the most opportunity? The least opportunity? Why?

Reference no: EM132087982

Questions Cloud

Calculate mike-tr and tc : a. Calculate Mike's TR, and TC for each quantity supplied.

Provide the journal entry for card sales revenue : Tom's Fit Inc. a readymade garment seller accepts payment through credit cards. During the month of August, the card sales amounted to $12,000.

Prepare for interview based on real job ad posting : In this activity, you will have the opportunity to prepare for an interview based on a real job ad posting.

Calculate taxable income when preparing tax documentation : Write a 3,000 word paper explaining the key sources of information and data required to calculate taxable income when preparing tax documentation.

Often appear to be quite irrational to casual observer : While consumer behavior may often appear to be quite irrational to the casual observer, most behavioral scientists agree that consumers are problem solvers

Write a five page paper over the history of gaap accounting : Write a five page paper over the history of GAAP accounting. Please include the regulatory bodies listed directly below. Please research and discuss.

Why has wheaties been so successful in the past : Why has Wheaties been so successful in the past? What key factors changed that success by the mid-2000s?

Describing the effect of each transaction on assets : Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132).

Develop and describe a strategic measurement : Both the Genesis Energy and Sensible Essential Consulting teams believe that the client engagement was very successful.

User Account

All Pages