1. What does the purchase of a product like Nike mean to Sunder Singh?
Sunder Sing, just escaping homelessness is clearly proud that he was able to save and buy a pair of Nikes. He could undoubtedly have purchase a different brand that would have met his physical needs as well for much less money which he does not say why he bought the more expensive Nikes, a reasonable interpretation is that they serve as a visible symbol that Sunder Singh is back as a successful.
Sunder Singh is not Unique among low-income consumer in wanting and buying items such as Nike shoes. As one expert says. “The low income consumer wants the same product and services other consumer want”. He suggests that marketing efforts reflect those desires. Another expert state. There’s this stereotype that they don’t have enough money for toothpaste and that’s just not true. There has been some significance to them being called lower income, but they do buy things.
The working poor are forced to spend a disproportionate present of theirs income on housing, utilities and medical care due to lack of insurance. They generally relay on public transportation, they spend a smaller portion of their relatively small income on meals away from home and all forms of entertainment such as admission, pets and toys; they spend very little on their own financial security. However Sunder Singh illustrated they spend the same percent of their income though a smaller amount on apparel and accessories.
2. What does the story say about our society and the impact of marketing on consumer behavior?
“Society can exist without Marketing, but Marketing cannot exist without Society”
Marketing is the management process of anticipating, identifying and satisfying customer’s requirements. The various conventional marketing tools- advertising, branding, direct marketing, sales promotion, publicity & public relations.
Effect of marketing on society, in particular on Vulnerable Groups Marketing and society, the commensuration of the two words raises a few eyebrows, as it is highly debatable. On the one hand, Society thrives on the marketing efforts of the Companies, while another school of thought argues that marketing makes the society more materialistic. Today, striking a balance between the two is the challenge faced by the Marketers.
The society expects the business to be ethical and desires corporate executives, at all levels to apply ethical principles in other words, guidelines as to what is right and wrong, fair and unfair, and morally correct, when they make business decisions.
Advertisers are traditionally use techniques to which children and adolescents are more susceptible, such as product placement in TV shows, tie in between movies and fast food restaurants, to mention a few. Therefore there exist many marketing evils that lure people to buy even when not required. Case III
1. What is likely to be the decision process in case of choosing an airline? Buyer decision processes are the decesion making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service. More generally, decision making is the cognitive process of selecting a course of action from among multiple alternatives. Decision making is said to be a psychological construct. This means that although we can never "see" a decision, we can infer from observable behaviour that a decision has been made. Therefore we conclude that a psychological event that we call "decision making" has occurred. It is a construction that imputes commitment to action. That is, based on observable actions, we assume that people have made a commitment to effect the action. In general there are three ways of analysing consumer buying decisions. They are: * Economic models - These models are largely quantitative and are based on the assumptions of...