Principles of Marketing, MKT301
Select TWO products which you have bought (or rented), ONE a High Involvement purchase, and ONE a Low Involvement purchase, in the following product categories A FOOD GOOD, A SERVICE OR A TRAVEL-RELATED GOOD.
Applying the teaching materials, explain why the first product you chose was a High Involvement purchase and why the second was a Low Involvement purchase. (10%)
Using the five stage model of the Purchase Decision Process in the model of consumer buying behavior described in Module 1, describe in detail the process you went through in buying each product. Bear in mind that the purpose of the assignment is to demonstrate the depth of your understanding of the teaching materials. (20%)
Identify and discuss the differences between the way you went through the purchase decision processes for the two products. (20%)
Third and Fourth Pages
Assume now that you are a marketer of both of the two products that you have discussed in the previous pages. Applying only the teaching materials, (specifically the presentation "Uses of a Model of Buying Behavior"), explain how you might use your understanding of the Model of Consumer Buying Behavior for the two products. (Note [pic]that the presentation "Uses of a Model of Consumer Buying Behavior" is relevant to this part of the assignment). (50%)
High Involvement: Service: Gieco Insurance
Low Involvement: Travel-Related Good: Gas
11 Oct 2012
After some thorough thought and reading I have chosen my insurance company to be my high involvement purchase. For many years I have had my insurance with USAA; my house, vehicles, boat and motorcycles were all insured with them. I was looking at my spending throughout the year and I couldn’t believe how much I was spending to insure all of our assets. So I decided to start shopping around. I checked with a few insurance... [continues]
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- MLA 7
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