...CAN INFLUENCE CONSUMERS AT EACH STAGE OF THE LOGICAL FLOW MODEL The logical flow model is a series of sequential steps that a consumer goes through when buying a product. The different steps are Problem recognition, external search, evaluation of alternatives, product choice and post purchase evaluation. Purchase decision differs therefore the amount of effort we put for each steps will differ accordingly, that’s why some of the steps are more important than others. Sometimes the decision making process is done automatically, this is when usually little information is needed, some other time purchase decision can be real hard, this usually for an important purchase like for example a house. Purchase decision is nowadays more and more difficult in view of ‘consumer hyperchoice’ (Solomon, Bamossy, Askegaard, Hogg, 2010). The logical flow model should be well studied by marketers so as to understand how consumers get the information, which criteria consumers use to make product or service choice, so that they can find more ways to influence the consumers. ‘companies [will] then develop products or services that emphasize the appropriate attributes, and marketers can tailor promotional strategies to deliver the types of information consumers are most likely to desire, via best channels, and in the most effective formats. ‘ (Solomon et al. 2010). This is not as easy as consumers simply do not go through all the steps of the logical flow, therefore it’s important for the marketers...
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...web-based services that remove the responsibility for installation, maintenance, and upgrades from a company’s in-house staff. https://www.coursehero.com/file/8417844/Chapter7-ReviewQuestions/ 2. Explain the difference between horizontal application software and vertical application software. * A software package that can be used by many different types of organizations is called a horizontal application. An accounting package is a good example of a horizontal application because it can be utilized by many different businesses. In contrast, a software package developed to handle information requirements for a specific type of business is called a vertical application. https://www.coursehero.com/file/8417844/Chapter7-ReviewQuestions/ 3. What is the most common reason for a company to develop its own information system? Give two other options why a company might choose the in-house approach. * In addition to numerous outsourcing options, a company can choose to develop it own systems, or purchase, possibly customize, and implement a software package. Although many factors influence this decision, the most important consideration is the total cost of ownership. By designing a system in-house, companies can develop and train an IT staff that understands the organization’s business functions and information support needs. Many firms feel that in-house...
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... industry is set up with two wide customer bases, consumer level products and industrial level products. Originally there was a huge divide between the consumer and industrial markets, with separate products, separate distribution channels, and separate price points. With increasing quality, the lines were becoming more blurred, and more consumers were buying industrial level products, and vice versa. Consumers and Professionals alike were buying and saw a need for these power tools, and were more often able to get any option at any distribution house. The range of distribution houses was also vast, with as many as fifteen different channels of sales for the products. Mass merchandisers, discounters, hardware stores and home centers are the main suppliers of the consumer market, while specialty supply store, tool rental shops and lumberyards. Competitively speaking, Skil is in an okay position by marketshare, but ...
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...During the American Revolution the men were not the only people who fought for independence. Women of America joined the Homespun movement which supported the American revolution by spreading their support and creating needed commodities for the armies. The women made cloth and clothing for their families and soldiers instead of buying the British clothe and cloth showing their support for the revolution; showing the boycotting of British textiles and their support of the American army. This shows that there is much more to a revolution than war; it requires the backing of its people in all different forms. Most women did not fight and their way of supporting the revolution was to continue to work in the Homespun movement showing their support...
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...plummeted, making it tough for homeowners to refinance to cheaper loans, dampening consumer confidence and spending. Policymakers have considered a range of different options. Among the most radical is buying up vacant properties and bulldozing them to diminish the supply glut and rid neighborhoods of nuisance properties that become magnets for drug users, vandals and other minor criminals that further reduce property values for everyone. But this option would clearly have some significant ethical implications, outlined below: Proponents of bulldozing * No one is living in these vacant homes. In most cases, appropriate social services are available for squatters. With every week that goes by, selling the vacant homes becomes less likely. * Literally knocking down houses is the most efficient way to reduce supply. It has worked quickly and effectively in communities that have tested the strategy. Opponents of bulldozing * Using tax dollars to create vacant lost seems a poor choice of limited resources. * In a country with more than half a million homeless people, razing homes does not seem to be an ethical choice. * Partially destroying cities in order to save them does not seem logical. You Decide: Do you think bulldozing vacant houses is a good strategy to mitigate the housing crisis? What ethical issues are involved? Si, yo creo que derrumbar toda propiedad que se encuentre en estado de deterioro severo ayuda significativamente a...
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...Negotiation techniques- types of negotiations Distributive negotiations are negotiations that usually take place between people or companies that have not done business before and it is usually a one-time deal and one person is going to get a better deal than the other. This kind of negotiation could include selling a car or a house or buying something and bargaining the prize down. In this type of negotiations each person has their own interest at heart and tries to get the best deal possible and is not thinking about the other person and since this is a one-time deal with a stranger the way the other person sees him does not really matter. When you enter into a distributive negotiation it is important to try to make the other person make the first offer and then you can counter offer, also not to give out any information that could help the other person get leverage over you and therefor get the better deal. Integrative negotiations are negotiations that take place between one or more individuals and/or company’s. It usually involves dealing with many issues instead of just one like in distributive negotiations. In these kinds of negotiations everyone is going to benefit from the deal and the people involved try to find a solution that will be good for everyone, of course one can have more strength and therefor walk away with the better end of the deal but the purpose of this negotiation is to find mutual grounds that they all can agree on. These kinds of negotiations could...
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...our lives and while it is practiced often in the widespread experiments of science, it is a valuable tool that can be used to assist in even the smallest tasks we encounter on a daily basis. Applying the scientific method is as simple as first analyzing a real life problem that can occur on any given day. A good example of this would be coming home after a day of work only to find that the porch light is out when you knew you turned it on before you left to work. While most may err on the side of caution, their own scientific method starts to formulate in their head to try to put the pieces of the puzzle together. The problem at hand, and the question that should be asked, would be figuring out how the porch light went off. This first step of the scientific method helps narrow down the goal to a single statement and helps put things into perspective. Without problems and questions, we would have no need for a scientific method! After determining the problem of the porch light, research on everything involving it would need to be done, which would most likely take place in a few seconds to minutes of brainstorming in this case. There are numerous questions that can be asked here in order to help gain an understanding of what may have happened. The first question that comes to mind would be how long has it been since the porch light was installed? It has been some years and light bulbs have a lifespan that varies depending on usage. Yet another question that can be...
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...Negotiations Analysis Negotiation Analysis Paper Ivania Castaneda HR595- Keller School of Management March 2013 Introduction Buying a home is a complicated and time consuming process. The purchase of a home is just one of many examples of negotiations that happen in everyday life. It is one of the few places in life where some form of negotiation is the rule rather than the exception. Not all people are effective negotiators. It takes a keen understanding of the process in order to be good at it. This class has provided tools via the review of key concepts and methodology to allow even the not so adept negotiator to be better at negotiating. By informing yourself, preparing, and keeping an objective mind frame we can all use the tools taught in class to become more successful next time a negotiation situation arises. My paper will focus on integrative bargaining. Integrative bargaining (also called "interest-based bargaining," "win-win bargaining") is a negotiation strategy in which parties collaborate to find a "win-win" solution to their situation. This strategy focuses on developing mutually beneficial agreements based on the interests of both parties. This negotiation approach is important because it usually results in more of a positive outcome in contrast to distributive bargaining. The first step in integrative bargaining is identifying each side's interests. Although distributive bargaining is frequently seen as the opposite of integrative bargaining, the two...
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...Decision-Making Wendy Gordon Acacia Avenue How people make decisions about which brands and products to buy still seems to be one of the great undiscovered secrets in our world of advertising, marketing and research. Despite electronic libraries full to the brim with information from focus groups, usage and attitude studies, tracking, observation and ethnographic studies, our understanding of how people make decisions remains elusive. In fact we appear to be less and less certain about how people really make decisions and even less confident about how we can influence the process. In some ways, understanding consumer decision-making is far simpler than is generally believed. However, being able to influence what people will do in terms of buying, thinking and behaving in a given context, is infinitely more complex. It is only possible to influence an outcome when our feet are firmly grounded in reality and not in the fantasy that human beings are rational creatures in total control of their decision making capabilities. What we need to do is to shift our thinking from describing human 'doing' to becoming more aware of what it means to be a human 'being'. The last five years have seen significant advances in understanding how human beings 'work' due to developments in many new and old sciences brain scanning, cognitive experiments, genetic studies, foetal learning and patterning behaviour, physics, and so on. The knowledge no longer sits in separate scientific silos, but is being...
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...Recognition. One model of consumer decision making involves several steps. The first one is problem recognition—you realize that something is not as it should be. Perhaps, for example, your car is getting more difficult to start and is not accelerating well. The second step is information search—what are some alternative ways of solving the problem? You might buy a new car, buy a used car, take your car in for repair, ride the bus, ride a taxi, or ride a skateboard to work. The third step involves evaluation of alternatives. A skateboard is inexpensive, but may be ill-suited for long distances and for rainy days. Finally, we have thepurchase stage, and sometimes a post-purchase stage (e.g., you return a product to the store because you did not find it satisfactory). In reality, people may go back and forth between the stages. For example, a person may resume alternative identification during while evaluating already known alternatives. Consumer involvement will tend to vary dramatically depending on the type of product. In general, consumer involvement will be higher for products that are very expensive (e.g., a home, a car) or are highly significant in the consumer’s life in some other way (e.g., a word processing program or acne medication). It is important to consider the consumer’s motivation for buying products. To achieve this goal, we can use the Means-End chain, wherein we consider a logical progression of consequences of product use that eventually lead to...
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...BSBWOR501 MANAGE PERSONAL WORK PRIORITIES AND PROFESSIONAL DEVELOPMENT ASSESSMENT 2 - WRITTEN ASSESSMENT 28/04/2016 Answers: The best way to serve as a role model at workplace is to either have a clear, defined and organised work method and interact successfully with colleagues at all levels. For example a good role model will always organise his work by setting goals, managing time effectively and sharing his personal experience with others, he will also encourage them. Microsoft Outlook - with this software you can manage all tasks such as work projects and family business, it also can be easily looked online by everyone involved in the tasks. It allows to manage tasks and deadlines also. Personal Digital assistant - such as iPads or any other tablet, which allows you to keep connected when you’re away from the office, send out emails, set reminders, keep an eye to your To-Do list. CRM Clients Relationship Database - which lets you save time by gathering all clients data such as names, phone numbers, emails, purchases etc all in one place. Internet - which is the best and most important tool you may use to manage your work, since without internet you wouldn't be able to make researches on a multitude of work related subjects, even when you're away from the office. You won't even be able to synchronise applications such as Outlook or To-Do lists with your colleagues. Management Software - which is used to cope with a multitude of tasks such as payments, wages, taxes...
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...our life are based on the market - buying goods. No one buy goods unless they have a problem, a need or a want. The Consumer Decision Making Model can be applied with any economics decision you have to make. The goal in creating this model was to analyze how individuals sort through facts and influences to make decisions that are logical and consistent for them. Think like an economist with this convenient tool. The CDP model consists of seven major stages: Need recognition, search for information, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation and divestment. The aim of this paper is to discuss these processes with reference to a product and analyze the reason why marketers should understand the CDP model. 1. Need recognitions Need recognitions is the most important factor which leads to buying of products and services. Need in fact is the catalyst which triggers the buying decision of individuals. It occurs when an individual senses a different between what he or she perceives to be the ideal versus the actual state of affairs. Need recognition depends on how much discrepancy exists between the actual state (the consumer’s current situation) and the desired state (the situation the consumer want to be in). Consumer buy things when they believe a product’s ability to solve a problem are worth more than the cost of buying it. Imagine having to buy yourself a new cell phone. The first step in this process is of course to recognize...
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...Learning Miscellany 1) ------------------------------------------------- Introduction Economics is not an exact science, as it has to factor-in human behaviour. It assumes that the market is logical or rational in its behaviour. We know that the actions of humans are not always rational, hence events like the economic crash in 2008. No matter how much history teaches us, we still sometimes take irrational actions. The principals explained in Greg Mankiw’s book “The Principles of Economics” are based on ten principles, which are difficult to image in the real world. It is as if you have to “put on hold” your rational thoughts in order to understand the models used. The economy is influenced by government policies and businesses driven by profits. Businesses like governments can have beliefs that are motivated by left, central and right winged policies, depending upon where you live. These can influence how we manage society, either purely from a profit driven perspective or from an equal balancing of profit and social good. 2) ------------------------------------------------- Miscellany Weekly Learning Notes a. General Introduction (D) In recent weeks considerable national media attention was given to the story of people queueing to buy a development of new houses in Swords, North County Dublin. This raised the question whether we are witnessing the re-emergence of a “bubble” in the housing market and whether we had learned little from the boom and bust of...
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...crazy slow? Have you ever had to deal with really slow Wi-Fi connection? Eero, a startup company, has identified a solution for the problematic Wi-Fi connection at people’s homes. Eero has come up with innovative software, involving mesh networks, which will increase the range and speed of your home’s Internet. The common problem with wireless Internet connections is that strong signals have shorter ranges and longer-range connections have weaker signals. The new router Eero has came up with will solve those weak Wi-Fi by implementing more complicated connections called mesh networks, through node signals. This will bring an expanded balance between range and strength. Experts on the field have agreed on that this is a big deal. The step Eero has taken has not been done before because it would be too difficult to re-write all the coding for the connections. The product was put-on for presale early on February and will be shipped on summer this same year. In the first 48 hours after it had come out for pre-sale, about 1 million units were sold. The price for pre-ordering one of Eero innovative units is $299 and for a pack of three, $499. Mesh networks such as the one offered now be Eero is the future of wireless Internet connections and let’s hope that this innovation will satisfy the need for faster Internet the society is struggling with. Why Is My Wi-Fi So Crazy Slow? by Joshua Brustein 11:55 AM EST February 17, 2015 Ask people about their tech headaches and they'll...
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...Individual Research Report Consumer Behaviour Naveed Mohammed 300765975 Prof. James Quance Business Communications 2 BUSN 733 13 Nov ‘13 ------------------------------------------------- Executive Summary This report discusses consumer behaviour in detail. Consumer behaviour refers to the buying behaviour of individuals and households that buy goods and services for personal consumption. All of these final consumers combine to make up the consumer market. Consumers around the world vary tremendously in age, income, education level and tastes. They also buy an incredible variety of goods and services making both simple and complex purchase decisions every day. The Cultural, Social, Personal and Psychological factors that affect consumer behaviour are discussed in detail. The consumer decision process which consists of Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision and Post Purchase Behaviour are then studied. A Consumer Analysis follows where questions like “Who buys and uses the product?”, “What consumers buy and how they use it?” and “Why consumers prefer a product?” are answered. A brief conclusion wraps up the report which states how Marketers study consumer behaviour to find answer to most questions that help them design marketing strategies to reach consumers more effectively and build long lasting relationships. Table of Contents Introduction | | 1 | Factors influencing Consumer Behaviour | |...
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