Expert answer:Consumer Behavior: How People Make Buying Decision

Answer & Explanation:Hello,I need help with my marketing assignment (please see attachment). The product that I selected GEICO (auto insurance); for this assignment, I supposed to refer to the product or service I selected (GEICO). The assignent is due on Friday this week.Regards,principles_of_marketing_week_3_assignment.doc
principles_of_marketing_week_3_assignment.doc

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MRKT 310 Principles of Marketing
Week 3 Writing Assignment
Consumer Behavior: How People Make Buying Decisions
Learning Outcomes:
1. Model of Consumer Behavior: Environmental factors. Student can use the model
of consumer behavior to identify those environmental factors most likely to affect the
consumer decision making for a specific product or service.
2. Model of Consumer Behavior: Consumer factors. Student can reference the model
of consumer behavior to identify the consumer factors most likely to affect the
decision making for a specific product or service.
3. Role of Involvement in purchase decisions. Student can identify the role of
consumer involvement applicable to a specific product or service offering and how
that level of involvement affects the type of decision making.
4. Consumer decision-making process. Student can identify how marketing strategy
can influence each of the eight steps in the consumer decision-making process.
Directions
• Refer to the product or service you selected at the beginning of the semester. This week
you want to take a closer look at what consumer factors may be relevant for customers
considering buying your product or service offering. This will require some critical
thinking on your part based on your own behavior if you are a customer yourself, or you
may want to talk to others who have purchased the product. Sometimes you can find
clues when looking at the product or service’s marketing messages that may be
addressing some of these factors.
• You will be relying less on what you read in the literature and more on your critical
thinking skills and your ability to apply the marketing concepts to your product or
service. You won’t be able to find ‘right’ answers to the questions anywhere, so don’t
waste time looking. You need to reason your responses based on what you now know
about your product or service, its customers and the marketing concepts discussed in the
course to date.
• Prepare your assignment beginning with a title page with your name and the product or
service. Then answer the following four questions in order and number the beginning of
your response to each question.
a) Consumer Behavior Model: Environmental factors. Refer to the week’s
readings and the model of consumer behavior, identify two of the most important
environmental factors (excluding “marketing stimuli”) you think are relevant to
the customers of your product or service offering. Explain your choices.
b) Consumer Behavior Model: Consumer factors. Refer to this week’s readings
and the model of consumer behavior, identify the three most important consumer
factors you think are relevant to the customers of your product or service
offering. Explain your choices.
c) Role of involvement in consumer decision-making. Identify the level of
involvement a customer of your product or service might use to make a
purchase/no purchase decision. Then, discuss which type of buying behavior is
most consistent with that level of involvement.
d) Consumer decision-making process. Go through the six steps of the purchase
process outlined in the readings and identify where marketing can influence each
of the six steps. For example, if a consumer just identified a need for your product
in step one, then the company can advertise how your product fills that need. Or,
if a consumer purchased your product, the consumer can be called and asked
about their satisfaction with the product and if there is any dissatisfaction steps
can be taken to ensure the customer satisfaction. Be sure to be more specific with
respect to your product or service than this example.
Be sure to follow all of the submission requirements outlined in the syllabus and provided
below again for your easy reference:
• Prepare as a word processed document (such as Microsoft Word).
• Your assignment should be the equivalent of two pages of double-spaced text,
approximately 1/2 page for each of the four questions.
• Be sure your name, writing assignment number, and the name of your product or
service are on the first page of your writing assignment.
• Use a simple 12-point font such as Times New Roman. Use black ink for majority of
your work and only use colors if it enhances your ability to communicate your thoughts.
• If the writing assignment requires external research, be sure to use footnotes and include
a bibliography. You may use MLA or APA style, or any other college-level style guide.
…
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