Principles of Marketing 1 Case TN - 1 Principles of...

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1Principles of MarketingCustomers always decide on the things they want to buy.Their decision making processdepends on the kind of product that they are getting.In buying inexpensive stuff such aschocolates, mugs, soda and other things that the customer is familiar with is usually routine
2because they already know what they are looking for.This purchase decision is called LowInvolvement Purchase.Whereas, when the customer is buying expensive things, such as cars,high- end cellular phones and houses, or the things they are unfamiliar with, usually take timeand decision making is like a problem solving process before they finalize their purchase.Thistype is called High Involvement Purchase (Bord Bia, 2010).PurchasesHigh Involvement Purchase: Plane Ticket to ParisLow Involvement Purchase: Reese’s Buttercup ChocolateThe plane ticket to Paris is the High Involvement Purchase because it is obviously notcheap.The decision making didn’t end on the plane ticket, but included the amount of money tobe saved for the entire trip.Also, it is not something that I usually get.Reese’s Buttercup is the Low Involvement Purchase because it is inexpensive and it is avery common thing to purchase.It is my favorite chocolate so ample stocks should keep in thefridge regularly.Five-stage model of Purchase Decision Process1. Problem or Need Identification-When a consumer feels the need to buy; they becomemotivated to get it. The identification may come from internal stimuli (MT UVA BMS, 2012).I am wanderlust and to travel Paris is included in my bucket list. So I looked up on theupcoming holidays, I decided to plan on my trip.Reese’s chocolate is one of the best chocolates

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Term
Fall
Professor
N/A
Tags
Marketing, Decision Making, Reese, travel agency, MT UVA BMS

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