The buying decision process
Let’s discuss the buying decision process. Discuss a major purchase you have made recently. Explain the buying decision process stages you went though, what sources of information you used, etc. Let’s see how your decision process compares with two well known decision models. The classic consumer’s purchasing decision process is illustrated in Figure 3.9 in Reading #2 on the W4 Readings and this is the The new consumer decision journey (https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-new-consumer-decision-journey ) Which model describes your process better?
2. Let’s discuss market segmentation. First, take any major consumer product (e.g. autos, beers, cosmetics, soft drinks) and discuss how the market for that product has been segmented. Give specific examples of products that were designed to appeal to specific market segments and how the marketer has tried to appeal to that segment. For your product try to include each of these aspects from Market Segmenting, Targeting, and Positioning: (https://saylordotorg.github.io/text_principles-of-marketing-v2.0/s08-market-segmenting-targeting-an.html) Behavioral segmentation Demographic segmentation Geographic segmentation Psychographic segmentation Second, do you notice any ethical issues with how the marketer has approached the consumer in that target market? If so, what issues do you see?