Class 3: The Environment Of Marketing Strategy

Question 1

What is the consumer decision making process

Answer 1

1. Problem recognition
2. Internal search (relying on the information they already have)
3. External search
4. Alternative evaluation
5. purchase
6. Post - purchase evaluation

Question 2

Problem recognition

Answer 2

Triggered by internal (psych/physio needs) or social stimuli (media, friends, situation). Maslow’s hierarchy of needs. people can feel various needs at the same time/ shift between levels.

Question 3

Give examples of products and services that are fluid on the heirchy of needs

Answer 3

Products and services can exist at one or more of the heirchy of needs e.g phones, clothing.
Consider how grocery delivery apps shifted the need they addressed during the pandemic

Question 4

Internal search

Answer 4

Involves the buyer’s memory, known information about the product/service, and specific alternatives that they can recall. Low involvement products or services (toothpaste, laundry detergent, toilet paper). ‘top of mind” advestising. Word of the mouth

Question 5

External search

Answer 5

Involves seeking information from an one or more sources when an internal search is insufficient. High involvement products or services (car, house, computer)

Question 6

Temporary involvement

Answer 6

The consumer may not be interested in the product category, but may become involved long enough to be able to make an informed decision.

Question 7

Enduring Involement

Answer 7

the consumer remains interested in the category (usually because of an interest) even if they do not anticipate making a purchase immediately.

Question 8

Alternative evaluation

Answer 8

consumer compares the various choices that might meet their need. the consumer determines the criteria for judging the alternative products or services. potential for information overload. Maximizers (similar to perfectionists) and satisficers

Question 9

What information helps with alternative evaluations

Answer 9

Rankings

Question 10

Post - purchase

Answer 10

further reinforcement for the choice that you made. Want to feel like you are part of a community e.g alumni networks.

Question 11

Complex of decision making

Answer 11

multiple sources considered and assessed.

Question 12

What are the goals of a patient journey map and what are some examples

Answer 12

touch points, patient actions, experience, paint points, potential solutions. The goals are to map the current state and identify pain points/opportunities and potential solutions

Question 12

Difference between multichannel to omni channel.

Answer 12

Multichannel: Look like it is coming from the same brand. You have access to all the information.

Omnichannel strategy: Existance of connecting all the data. everything feels like the organization knows me.

Question 13

What are VALS segments

Answer 13

Segements US adults into eight distinct mindsets using specific psychological traits and key demographics that drive consumer behaviour. Uses the combination of motivations and resources determines how a person will express themselves